United States Economic Environment Is Improving Offering Up Opportunities
Since the 2008 – 2009 financial crisis, the economic environment in the United States has been viewed in a weary perspective. This is mainly because the residual effect of the crisis has been persisting up until recently, people have regained optimal confidence in the economy. Investing in new businesses does not come with the risk of financial ruins when the business fails as was the case a couple years ago.
However, it would be a very good idea if the investment you make yield profits that are reflective of a strong economy that we are experiencing. This is only possible if the investments made are the right ones. A good example of the premium investment is investing in the home healthcare business.
The Home Healthcare Market Is Shielded From Economic Ups and Downs
Home healthcare is a service rendered to senior citizens to help them in their daily living while they reside in their homes. The services rendered by home health care practitioners include helping the senior citizens with their daily endeavors as well as providing medical care wherever necessary.
Statistically speaking, this type of service one of the fastest growing in terms if demand healthcare industry. A survey by the American Association of Retired Persons revealed that a majority of senior citizens in America prefer to spend their retirement years in the comfort of their home. This number is as high as 90% of the senior citizens. This includes receiving any medical care that they may need.
Factoring the growth numbers of senior citizens at about 10,000 people per day and that 90% of them prefer to stay in their homes during retirement years, this particular niche in the health care system is expected to become a profitable business. (With a market value of $55B.)
BrightStar Care a Higher Standard
BrightStar Care is one of the revered home health care service providers currently in the U.S. and led by owner Shelly Sun.
Fortunately, they are offering the general public a piece of the action by franchising.
BrightStar Care Franchise
BrightStar Care Franchise is exactly as the name suggest. It involves BrightStar Franchising to interested parties who are willing to engage their entrepreneurial sides and provide home health care to the certain population, usually a population of at least 200,000 to 250,000 people for elderly home care.
A franchise fee of $48,000 is paid. The fee covers some services including new owner training that is typically extensive. Ongoing support services are offered through a toll-free phone line, newsletters, field evaluations and operations, security and safety procedure advice as well as a meeting.
The fee also covers marketing support that is done through the national media, regional ads, co-op ads, and ad slicks. An exclusively designated territory is also guaranteed which cover a population of not less than 250,000 people. Additionally, you gain access the company’s operational tools which were designed by Brightstar’s CEO Shelly Sun.
On paying the franchise fee, a guarantee of a territory with a population size of 200,000 to 250,000 is given, especially if you are running an elderly home health care franchise. However, an additional population can be accorded if you wish at an additional fee.
Absent franchisee is not allowed. Therefore, the territory you opt for should have a consideration of your ability to man it.
The Economic Part Of The Business
The financial gains that such an enterprise can yield are massive. BrightStar Care Franchise provides an average of $1,421,257 in roughly the first q2 month of operation. Attaining such number may, however, differ in time of time. During the awarding process of the franchise, you will be given a financial history in terms of performance including the average time of break-even. The Financial Disclosure Document also includes the average revenues of the previous year (2014).
Diversification Of Sources Of Income
A BrightStar Care Franchise can offer you with a diversity of sources of income. Aside from the elderly home health care services that are the primary services rendered, you can also provide home health care services to the sick especially recently discharged individuals. There is a trend among hospitals of discharging patients early to save cost. This provides another market that you can fill, as well as diversify you services and sources of income. Another group that can help you diversify your revenue are expectant mothers.