There’s no escaping it, Australia’s population is ageing, and while many of us like to put off the inevitable, a growing demand for aged care franchises has some entrepreneurs cashing in.

Older people make up a significant portion of the nation’s population. In 2017, over one in seven people were aged 65 and older.

While aged care recently has been headline news for all the wrong reasons, the non-residential options are providing increasingly popular.

According to the government body, Australian Institute of Health and Welfare (AIHW), the rise in people accessing home care services was 84 per cent from 2007 to 2017.

The government’s Home Care Packages Programme (Home Care) helps older residents who do not need a high level of care to stay in their homes.

Between 30 June 2016 and 30 June 2017, the number of operational approved providers had increased by 41.5 per cent with the bulk of services delivered to those aged 75 or older.

Two years ago, the Australian Government reformed the program, handing the power of service selection to the consumer.

According to the AIHW on 30 June 2018 more than 780,000 individuals were receiving grants for home support services. There were 1456 organisations funded to provide home support through 3,542 outlets. More than two thirds operated as not-for-profit.

With that number projected to grow as home care becomes more accessible and aged care franchises grow in stature, the sector will continue to provide entrepreneurs with a value for money business opportunity.

So, who are the big aged care franchises making waves in Australia?

Home Caring

Australia owned and operated business, Home Caring is one of the fastest-growing aged franchises on the market. Launched in 2015, the brand expects to have 10 outlets open by the end of the year.

Home Caring consultant Bill Lockett said the brand’s 50/50 partnership model was critical, not only to the growth of the business, but to the profitability of franchisees.

“I believe the business model is the big appeal to people; because of the government support that is now on offer, people are encouraged to find their own service provider,” Lockett told Inside Franchise Business.

“In a number of cases, we were looking at health professionals and registered nurses working within the health system who perhaps wouldn’t have been able to save the capital needed to purchase a franchise.”

The Home Caring model sees both franchisor and franchisee put forward 50 per cent investment, with the incoming partner paid a set wage.

“This immediately reduced investment, which was crucial, because in a lot of cases your income does not grow quickly, a large majority of your investment in the first year is actually working capital,” Lockett said.

Unlike most aged care franchises, Home Caring also has capabilities for disability or dementia caring, increasing the scope of a potential franchisee’s business.

Just Better Care

Founded in Australia in 2005 and part of Caring Brands International group, Just Better Care has over 30 operating territories around Australia.

This business provides a wealth of services including, aged, disability, in-home nursing, respite, home cleaning, companionship, transport, shopping and meal preparation.

The typical Just Better Care franchisee is a progressive, goal orientated business owner who is committed and passionate about providing essential services for their clients.

While industry experience is a plus, it is not a requirement of the model.

Medimart

A one-stop-shop retail and allied health clinical service and product provider, Medimart is an NDIS provider for assistive technology, mobility and home modifications.

Unlike to the aforementioned aged care franchises, the business provides clinical services including hearing tests, home based sleep apnoea tests and podiatry services. Additionally, Medimart also offers a series of mobility and aged care products to assist the ease of living for those in care.

The brand was formed off the back of founder Paul Adolphi’s successful 20-year run working at some of the biggest healthcare companies in the world.

“Our ultimate vision is to franchise the business and coming from a franchising background myself, I see Medimart as an ideal platform to assist hundreds of thousands of Australians towards better health and easier everyday living,” he said.

“We’re certainly excited at the future and what we can create with Medimart.”

Aged care franchises

Aged care franchises have exploded in popularity over the last five years, thanks in part to a strong government push.

With this year’s Federal Budget pledging an additional $282m for an extra 10,000 aged care packages, that growth looks certain to continue.

If you are passionate about providing care to those in need, and are looking to capitalise on an industry in a strong period of growth, consider if one of these aged care franchises could be a fit for you.