Do you want to start an adult daycare franchise but lack ideas? If YES, here are top 6 best adult daycare franchise opportunities you can buy for 2019.
As the elderly population continues to grow, so does the demand for elderly care. The drive to meet the needs of the elderly has led to a lot of successful businesses and franchisees in the United States. Adult day care centers are one of such businesses that emerged from the senior services niche. The centers provide compassionate, creative care for individuals who would otherwise have been institutionalized.
Research has it that the number of seniors in the society is growing exponentially making the elderly a unique segment of the society that needs to be given great attention to. A trend being noticed of late is that people don’t really like to institutionalize their aged parents and relatives anymore, especially if such parents or relatives are still strong and mentally vibrant.
Adult day cares are places where people can take their aged loved ones for a few hours in a day, after which they would take them back home. Companies serving this niche provide health-care related services and non-medical care combined with social interaction and group social activities for senior citizens or individuals with health-related needs.
Adult day care services are expected to see a surge in admissions based on their cost structure. Compared with the annual placement cost for a nursing home ($70,000) or home care ($43,800), the average annual fees associated with adult care centers range from $10,000 to $15,000.
If you want to be part of the senior home care services, and you are seeking a good franchise to buy into in the adult day care services niche, here are some you can look into.
Top 6 Best Adult Daycare Franchises to Buy for 2019
- Right at Home
This adult day care was founded by Allen Hager in 1995 after he witnessed the dearth of quality adult care homes. The founder sensed that patients needed more care than they were receiving at home which resulted in repeated hospital visits.
Right at Home offers different levels of client assistance which include; companionship, which involves cooking, cleaning and running errands; personal care; and light skilled nursing, which is basically helping to administer medications to their clients.
Right at Home has been a very successful franchise as nearly 30 percent of its franchisees exceeded $1 million in sales, and the highest-earning franchisee completed $9.4 million in sales.
- Total startup costs – $75,000 to $100,000
This adult care home came about when its founders had a rotten experience with caregivers. The care home which was founded by J.D. and Shelly Sun in 2002 provide what they refer to as full continuum of home care. This care model includes adult and elder care services, child care and medical staffing services for individuals, families and health care facilities.
They can assist with everything from companionship to toileting and hygiene assistance to in-home blood draws. To buy into this franchise, medical experience is not required, but you need to have strong management experience or marketing and sales experience. Medical expertise isn’t required.
- Initial startup costs – $95,000 to $163,000
3. HomeWell Senior Care
HomeWell Senior Care is at the forefront of one of North America’s fastest growing industries. HomeWell Senior Care offers a ground floor opportunity within the booming non-medical transportation and home care industry.
- Liquid capital required $75,000
- Investment $75,000 – $120,000
- Franchise fee $40,000
- Units in operation 46
4. SarahCare Adult Day Care Center Services
Sarah Adult Day Services is a facility that provides health.-care related services and non-medical care combined with social interaction and group social activities for senior citizens or individuals with health-related needs.
SARAH’s adult day care offerings provide an effective solution for individuals in need of support services in order to continue living in their communities without the need of transferring to a home. SarahCare Adult Day Services, Inc. began offering franchises in 2004.
- Liquid capital required $50,000
- Net worth required $200,000
- Investment $212,427 – $513,427
- Franchise fee $34,900
- Units in operation 23
5. Home Care Assistance
Kathy Johnson was inspired to start Home Care Assistance in 2003 after struggling to find reliable in-home care for her own parents. Home Care Assistance caregivers follow the company’s Balanced Care Method which was designed to promote healthy activity, stress reduction and social interaction for seniors which is designed to promote mental acuity through various cognitive activities.
- Initial Investment – $77,775 to $245,250
- Net-worth Requirement – $100,000 to $200,000
- Liquid Cash Requirements – $85,000 to $120,000
- Initial Franchise Fee – $32,475 to $114,950
- Ongoing Royalty Fee – 5%
6. Interim HealthCare
Founded in 1966, Interim HealthCare’s franchisees offer home care, hospice and medical staffing services.
- Initial Investment – $125,500 to $198,500
- Net-worth Requirement – $250,000 to $450,000
- Liquid Cash Requirement – $100,000 to $250,000
- Initial Franchise Fee – $50,000 to $50,000
- Ongoing Royalty Fee – 3.25-5.5%
- Ad Royalty Fee – 0.25%