The aging population in the United States is driving the market for not just assisted living facilities, but also in the construction and development of these locations. The top 10 metro markets, which include New York and Houston, accounted for almost 70% of all the assisted living facilities built in 2014. In this same year, the industry was estimated to be worth about 330 billion dollars, with this value continuing to rise.
Understanding the Options
For investors interested in a senior care franchise opportunity, understanding the various business models and marketing points of each one can be overwhelming. There are models that range from active adult communities with limited support to transitioning to assisted living or even memory care units with very high medical and support staffing and direct services to the residents.
Professional Support And Advice
With all the variations in senior care franchise options, working with an experienced broker is a must. These professionals can provide information on the franchise, as well as walk you through the process of determining if the franchise is the right fit for your investment requirements.
Choosing a specific franchise based on the reputation of the franchise, the support provided to the franchisee as well as marketing and branding recognition in the field of senior care will always be a priority.
Preparation for the Application
A broker can also help a potential franchisee to prepare for the application process. A top senior care franchise will complete due diligence on potential franchisees, ensuring they have the financial means, the commitment to the franchise as well as the personal background to ensure they can be licensed and operate the facility within the given location.
It will also be the role of the broker to connect the franchisee with the right franchise opportunity. This means the broker will match the requirements of the investor with what the franchise provides, which creates a win-win situation for both.
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