8 Characteristics of Profitable Senior Care Franchises
People who choose to invest in a CarePatrol senior care franchise business typically think about three things: becoming an entrepreneur, making money, and doing something that provides a sense of personal fulfillment.
As a CarePatrol franchisee, you are your own boss, you have the potential to make a nice living, and you are providing a vital service to the people in your community. If you’re considering investing in an eldercare franchise, you need to know the characteristics to look for.
The 8 Characteristics of Profitable Senior Care Franchises
Characteristic 1: Strong Brand Recognition
CarePatrol is the largest senior care solutions organization in the country, which is one reason our brand recognition is so strong. In addition, for 11 years in a row, CarePatrol has earned the Franchisee Satisfaction Award, and for the last six years, we have received the Top Franchises Satisfaction Award.
During specialized training at our headquarters in Arizona, experts teach franchisees about the senior care industry, CarePatrol’s business model, and our proprietary software.
Our comprehensive training program ensures each senior care advisor can provide clients with expert guidance. This personalized guidance sets CarePatrol apart from other senior care franchises.
Characteristic 2: Business Support
Although CarePatrol advisors own their senior care franchise businesses, they’re never alone! We help them set up their senior care business and continue providing support for the duration of their franchise agreement.
So, whether you have experience working in the senior care industry or not, CarePatrol’s comprehensive training program, franchise support team, and proven business model are designed to help you succeed.
Other ways CarePatrol provides ongoing support:
Monthly Newsletters
These newsletters provide our senior care advisors with recent news and information about our nationwide efforts and accomplishments.
Topics covered include:
- Links to resources offering helpful information
- Staff updates
- National news related to the eldercare industry
- Event links (e.g., webinars)
- Reminders about upcoming events
- Location spotlights to help keep franchisees informed about the efforts and achievements of their peers
Networking Opportunities
As a member of the CarePatrol family, you can network with your peers at annual conferences, continuing education seminars, and regional meetings.
Additional Learning Opportunities
Every franchisee has access to a coach. These coaches provide essential information about operation updates, organizational resources, and marketing campaigns.
Live and recorded webinars hosted by CarePatrol’s corporate team are also shared with franchisees throughout the year.
These webinars examine a variety of topics related to:
- Marketing
- Accounting
- National accounts
- Business development
- Vendors.
- Technology
Franchisees Can Easily Access Information
CarePatrol’s previously recorded webinars are always available for franchisees to watch. If there’s something you want more information about, there may very well be a webinar that addresses it. You can also call CarePatrol’s toll-free franchise owner helpline.
Characteristic 3: A Firm Training Foundation
Once you become part of the CarePatrol family, you receive in-person training from industry experts.
CarePatrol’s training program consists of four phases. It gives you the knowledge and skills you need to get your eldercare business up and running.
Phase One
Our e-learning program teaches you how to navigate the available senior care options. You also learn to use CarePatrol’s proprietary software to judge and review senior care living facilities.
Phase Two
Franchisees visit our headquarters for a two-day Foundation Class. This class teaches you about the senior care industry and CarePatrol’s business model. The Foundation Class also shows you how to negotiate contracts with in-home service companies and senior care facilities.
After completing this class, one of our trainers will visit your territory. While there, your trainer guides you through the process of contracting with the senior care companies and living facilities in your area.
Phase Three
During this six-week program, you’ll complete your e-learning modules and begin to build your network of providers.
Phase Four
You’ll return to CarePatrol headquarters. During your three-day review, you’ll learn how to effectively communicate with seniors and their loved ones and how to build your referral base.
You’ll also learn:
- How to apply everything you have learned to the real world
- Where to start marketing
- How to begin operating your business
Second Trainer Visit: During this support session, your trainer will focus on helping you implement your marketing plan and opening your senior care franchise business.
Two Additional Training Visits: You’ll receive two additional training visits over the next six months. These visits are designed to help you fine-tune your skills.
Characteristic 4: Effective Marketing
CarePatrol helps franchisees with marketing by providing them with training and ongoing support. However, since local senior care advisors work in a specific area, they must familiarize themselves with their community, local senior care companies, and living facilities.
Local senior care advisors can find clients by visiting places they think potential clients will frequent and collaborating with local healthcare providers.
Characteristic 5: Local Knowledge
To ensure clients can rely on the information they receive from their expert advisors, franchisees must learn about their local senior care facilities and in-home service companies.
When a family needs assistance finding their senior loved one the care they need, they know their local CarePatrol franchisee has:
- In-depth knowledge about their local senior care living facilities and in-home service companies
- Insight into the level of care each local senior care facility offers, their performance reviews, track records, and more
- The ability to provide families with personalized tours of the senior care facilities they recommend. These tours are important because they help families feel confident that their loved ones will receive the exceptional care they deserve.
- The aptitude to assist families with making informed decisions about the best facility or in-home service company for their elderly loved ones
- The ability to follow up with family members to ensure their loved one’s needs are met.
As time passes, local senior care advisors learn more about each facility or in-home service company they’re partnering with. Once advisors grasp this information, they can answer many of the questions a client asks while they’re touring a senior care facility.
Characteristic 6: Placing a Focus on Quality of Care for Families
Many families consider the process of choosing an in-home senior care company or transitioning their senior loved one to a suitable senior care living community to be one of the most challenging times of their lives.
CarePatrol franchisees are empathetic, so they understand how difficult making these decisions for an elderly loved one can be. Furthermore, since we help each of our franchisees become subject-matter experts, clients know they can trust the recommendations their local senior care advisor provides.
Characteristic 7: Market Availability
With more than 10,000 people in the U.S. reaching the age of 65 every day, there is a high demand for senior communities. In addition, with an aging baby boomer population, that demand is expected to rise, which means senior care advisors are needed now more than ever.
According to the United States Senior Living Market Size & Share Analysis – Growth Trends & Forecasts (2024 – 2029), the number of people in the U.S. who are 81 and older is expected to increase from approximately 17 million to nearly 21 million over the next 10 years.
CarePatrol needs senior care advisors in metro areas. If you reside or live near one of these locations, now is the perfect time to start your eldercare business!
Characteristic 8: A Scalable Business Model
Once you master one location, you may qualify for multi-unit ownership. Since the demand for senior care services is expected to rise, the ability to expand your CarePatrol franchise business is definitely a goal you could aim for.
CarePatrol Has All 8 Characteristics of Profitable Senior Care Franchises
CarePatrol was founded in 1993 and is the original senior home placement franchise. We are now the largest senior care placement franchise in the nation, and we believe that our dedication to excellence has led to our success and the success of our franchisees.
Ready to start your franchise journey? Visit the BAI Franchise website for more information on CarePatrol and other exciting franchise opportunities!
https://carepatrol.com/blog/characteristics-of-profitable-senior-care-franchises
