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KTG Social Care
KTG Social Care
The care industry in the UK & the rest of the western world is going through a period of explosive growth. This has seen a rise in care franchises. As the post-war baby boom generation retires from their jobs and ages, their children are left to balance busy lives with children of their own while looking after mum and dad.
Many also do not want to place their parents in the permanent overnight care of an old people’s home. This has also helped the growth of care franchises to buy. Therefore, it is quite easy to see why entering the care business by investing in a care franchise for sale could be a wise financial decision. For the right person, this business will prove lucrative, and an enjoyable & rewarding experience as you help take care of someone who appreciates it very much.
There are several different types of care franchise opportunities for sale, including care home franchises, domiciliary care, home care, health care staffing agency & care home franchise opportunities.
Starting a care franchise for sale will be a smart investment, but there are many facts to back this up, such as:
Facts about the care industry in the UK
- Each year, the care industry brings in £7.8 billion to the UK economy.
- In 2018 just over 1.8 million people were employed in the care industry in the UK alone.
- The Office for National Statistics predicts a 36% growth in persons aged 85+ between 2015 and 2025, from 1.5 million to 2 million.
What do these statistics show for the care industry?
So these stats do not just show that the care industry in the UK is a good investment they also show that it is a sustainable investment. Because there is a forecast of 36% of people aged 85+ between 2015 and 2025, it will increase from 1.5 million in 2015 to 2 million in 2025. This shows there will be a huge demand for care services in the UK for years to come.
Would buying a care franchise be right for you?
Now that you have seen the information about the care industry, you have to decide whether investing in care franchise businesses would be right for you. Also, when making a business decision, it's crucial to not just think about passion since even if you have a passion for caring, that does not mean buying a care franchise for sale would be suitable for you since you are also running a care franchise business which requires dedication and market research. Also, it's crucial not just to have a passion. You also have to think about the longevity of the business decision. For example, would you want to run a care franchise opportunity for years down the line after making your money back from your investment?
How to choose the right care franchise for you
There are many care franchise opportunities for individuals interested in starting their own profitable care franchise business. This comes as more and more people around the globe continue to receive varying types of domiciliary care. For this reason, home care franchises continue to be a promising investment that allows you to combine monetary profit with impactful work. If you're looking to buy a care franchise, read this article where we discuss the four different types of care franchises and how to choose the right one for you.
What are the different types of care franchises?
There are four main types of care franchises that you can choose from, and these include: - A medical home care franchise: This type of franchise allows you to work with elderly and vulnerable people and help them achieve their needs. You’ll take on a managerial role by coordinating medical professionals and taking care of administrative tasks. - A non-medical home care franchise: Non-medical care franchises focus on caregiving behaviors, such as providing palliative care and domiciliary support to patients. However, some non-medical franchises help vulnerable individuals improve their quality of life and provide companionship. - A home care management franchise: Home care management franchises require a more hands-on role when it comes to meeting the needs of your target population. You’ll be directly involved with patients and responsible for the growth of business operations. - A healthcare recruitment franchise: This type of franchise allows you to work in the care industry while operating outside the realm of client care. These franchises dedicate their efforts to finding the best medical professionals for healthcare roles.
How to choose the right care franchise for you
It’s essential to do your research before choosing a care franchise to select one that aligns with your personal interests and financial goals. Here are some steps on how to choose the right care franchise for you:
1. Do your research
Do your research into the different types of care franchises available as part of your decision-making. Then, tailor your search to include different investment levels and focus on areas you’re most interested in.
2. Consider your preferences
Consider your skills and interests to determine what care franchise best suits your preferences. You also need to take into account whether you want to make the move in the mid or long-term as this will impact your search. Some individuals are more focused on the financial benefit of starting a franchise. If this is you, looking for the most profitable care franchises is your next step. Once you determine what franchise best aligns with your preferences, you can then look more closely at how much you need to invest in getting the idea off the ground.
3. Meet with franchisors
Meeting with individual franchisors allows you to gain better insight into how these services operate and points of difference. It also gives you the opportunity to connect with different management and support teams in the industry. Keep in mind that franchisors are likely to vet you too to see whether you’re a good fit for their network. Developing industry connections gives you peace of mind that you’re on the same page as others in the industry and are striving for the same things. Be sure to ask questions about the history of the franchisor and its financial stability. There may be differences between budget care franchises and extensive care franchises that you want to consider. Either way, ensure that support managers show a continuing commitment to improving and supporting people’s lives.
4. Compare training and support systems
Research the support and training that different franchisors provide and consider how they’re likely to contribute to your success. You want a company that can help you source industry professionals and market your business. You can learn about the training opportunities offered by a franchise by reading their prospectus. This booklet gives you information on the franchises aims, which they provide services for, and how they support their independent franchises. Some low-cost care franchises may not offer extensive training, so be sure to factor this into your considerations.
5. Consider financing options
If you perform your research and still decide that a care franchise is the right step for you, it’s time to look at financing options. Different franchisors offer different payment plans and incentive opportunities, so it’s important to consider all your options. Be sure to be realistic when it comes to your starting budget too. Franchise UK offers the largest franchise directory for prospective business pioneers. Use our services to conduct research and find out more about care franchises for sale in your area. We've got you covered whether you're looking for cheap care franchises, a care franchise to buy, or van-based care franchises.
Where to find out more about the care industry?
If you are still willing to pursue looking for the perfect care franchises for you, I recommend that you browse our articles on our blog, which we regularly update here. We offer information about many different industries, all for free. Also, our blog has an extensive variety of articles, everything from industry statistics and market research to franchising success stories in the care industry.
The Most Popular Types Of Care Businesses For Sale
What kind of care business would you like to start? If you aren’t sure, there are many different care business opportunities to choose from. Here’s an overview of the most popular types of care businesses for sale, so you can make an informed decision on which one is right for you.
1) Nursing Home Businesses For Sale
This is another kind of care business for sale that can be great. Nursing homes are more profitable than your average care business opportunity, and it makes sense: The aged need more attention in general. Though these care businesses for sale require a higher investment, they’re often worth it because there’s little room for error. Many investors have seen incredible income growth by investing in nursing homes for sale. If you have money to spare and want to get into care businesses for sale, be sure to keep nursing homes in mind! You might be surprised by how much growth potential there is with them.
2) Care Home Businesses For Sale
Care homes for sale can be a great way to make some extra money on top of your income or you could use it as an investment for a later time. Many people choose to buy one with retirement in mind, but there’s no reason why you couldn’t run one during your career too. The benefits are obvious: if you buy your own care home business for sale then you know it will be financially secure for years to come and it will definitely be a profitable venture after doing research on the care industry and its recent growth in the UK.
3) Home Care Businesses For Sale
One of the favourite types of care business opportunities is home care. It’s a great way to branch out from what you already know, because it requires more specialised knowledge than daycare or adult daycare centres. Who should consider buying home care businesses for sale? Anyone with a heart for helping others and seeing their lives change for the better. If you’re not ready to start your own home care business, many people who want to help others start their careers by working as an employee in a company that provides in-home care. Later on, they can try starting their own company with an established client base!
4) Childcare Businesses For Sale
When you’re looking for a care business for sale, one of your main considerations is likely to be childcare. Childcare businesses are popping up everywhere, and they aren’t going anywhere. In fact, there’s no reason why these types of childcare business opportunities can’t become quite lucrative over time—especially if you get a strong foothold in an area. The first step to starting any type of care business is to choose which one suits your needs best. There are all kinds of child-care options available (such as babysitting and daycare), but it can be helpful to focus on just a few that seem most promising given your personality, skills, and knowledge base.
5) Senior Care Businesses For Sale
Overall, senior care businesses for sale seem to be quite popular. However, they’re not all created equal. At some point in your search for a care business to buy, you’ll no doubt come across some that are geared toward elders but others that aren’t at all. If you aren’t sold on one side or another, it might make sense to consider both options. There are several different types of care businesses for sale, after all; take care homes, daycare centres and home care businesses. Each caters to a different demographic and has its own list of pros and cons; depending on what you want out of your business purchase, it just might be worth looking into more than one type of care business for sale before you make a decision.
Are you ready to run a care franchise business?
The care industry is forecasted to grow and be a buoyant industry sector with an ageing population. We have a wide selection of the most profitable care franchises here. Browse our full list of care franchises using our list of care franchises and choose your ideal business opportunity from our care franchise directory