An ageing population is big business and with one fifth of Aussies to be aged over 65 by 2030, older Australians are set to become even more important to the economy.
Businesses can tap into a myriad opportunities that encourage cashed-up senior citizens to spend, particularly those who are living an active life.
For those less active, at-home care is a massive industry that is seeing continual growth,
It is perhaps even more in the minds of family members and the elderly themselves as the pandemic shows the vulnerability of older people, and the dangers of virus clusters in aged-care homes.
Those who are planning how to assist day-to-day living can look to the at-home care options with renewed confidence.
Government support is available for eligible residents and this opens up the sector to a broader market.
Aged-care and disability services providers offer a broad range of services including dementia care and post-hospital care, but each business will have its own program of services.
The structured and disciplined set-up of a franchise suits such a highly regulated sector.
Franchisors in this field look for community-minded franchisees, and generally don’t require relevant experience though it is welcomed.
So who is operating in this field, and what does it cost to get in to a business?
Aged-care franchises
Home Caring
Home Caring has been operating since 2015, and franchising for two years. The business model of this Aussie owned and managed aged and disability care provider is distinctive – it’s a joint venture.
That means franchisees pay between $80,000 and $120,000 to buy a franchise, share 50 per cent of the profits, and receive an annual salary package of $80,000.
Just Better Care
The longest-running franchised aged care provider in Australia, Just Better Care was founded here in 2005 and started franchising in 2007.
The franchise fee of $65,000 is part of the overall cost of buying a franchise – the capital investment could be up to $200,000.
Nurse Next Door
The newbie on the Aussie aged care scene, Nurse Next Door has been in business in the US since 2007. The business focus is ‘Happier Ageing’.
It costs $100,000 to buy a franchise, and you’ll need $50,000 working capital.
Pearl Home Care
Established in 2014 and franchising since 2015, the national Pearl Home Care business is Australian owned and based in Western Australia.
You’ll need $75,000 to buy a business and a further $150,000 in set-up costs.
Right At Home
It’s been in business since starting out in Brisbane in 2014. Franchising began two years later.
The initial franchise fee is $120,000 and a further $70,000 is needed for set-up costs.
Senior Helpers
An international brand with more than 400 locations across north America and Australia, Senior Helpers has been operating here since 2011.
Capital investment for the franchise is between $100,000 and $150,000.