Australia is an ageing population, and while generational change is putting a strain on the public sector, allied health franchise Home Caring is helping eagle-eyed entrepreneurs make the most of a growing industry.
Currently in Australia the demand for aged care and home care providers far outweighs the number of registered offerings. The Covid-19 crisis has resulted in people preferring care at home. Between March and July 2020 Home Caring has increased the number of hours serviced by more than 100 per cent.
As the country’s median age increases, more Australians will require home care services, making the opportunity more lucrative than ever, but operators still face a series of challenges.
The major barrier to entry for home care entrepreneurs has always been investment, with few registered nurses and allied health professionals able to raise the capital needed to launch a new business.
That is precisely why Home Caring launched its franchise model in 2018. The allied health operation opened the door for experienced professionals to go into business for themselves, implementing a revolutionary business model.
Why Home Caring?
To overcome the investment barrier, Home Caring franchise consultant Bill Lockett and managing director Jon Kontopos developed a partnership system, reducing initial costs.
“As a direct response we set up an arrangement whereby both the franchisor and franchisee would provide 50 per cent investment,” Lockett said.
“This investment reduction is crucial because in a lot of cases your income does not grow quickly; a majority of the investment in the first year is actually working capital.”
Additionally, the Home Caring model provides franchisees with a generous salary package, which Lockett believes is critical for entrepreneurs in this space.
“The salary means that franchisees can focus on growing the business, looking for new clients and recruiting care workers without worrying about paying their monthly bills,” he said.
Home Caring success
Dementia Caring Australia (parent company of Home Caring) was ranked 11th in the Australian Financial Review Top 100 ‘Fast Starters’ list for 2020.
The model has been an enormous success. In just over 18 months, Home Caring has welcomed 18 franchisees.
It provides an opportunity for people to give back to their local community, including cultural communities where English is a second language.
Lockett reveals that the model is ideally suited for a registered nurse or someone with experience in the healthcare sector.
“Obviously, experience in the home caring industry is a significant advantage, but secondary to that is allied health professionals. We’ve found that they have the understanding to deal with different circumstances,” he said.
Franchisees can operate with Home Caring’s highly regarded brand names, Home Caring and Dementia Caring. They will get assistance in acquiring appropriate licences, access to a comprehensive training program, ongoing operational support and management tools.
The home care franchise is now on the hunt for new partners in territories across the country.
If you are passionate about making a difference in the lives of other, while building a new future for yourself, visit franchisebusiness.com.au/brands/home-caring/ and make an enquiry today.