Starting your own business can seem like a daunting task as there are many uncertainties involved in the process – from the initial seed of an idea to the first product you sell or service you provide. But what other options are there other than starting your own business to escape the 9-5 grind and follow your dreams? Our answer: Invest in a franchise! Ultimately, franchising is an investment in yourself, your future and your business. It is an investment that offers immense levels of support that you would not get if you started out on your own. Investing in a home care franchise will be one of the best decisions you ever make.
What is home care?
Before considering taking ona home care franchise, it is important to look at what home care is. In essence, home care is considered “non-medical” or “social care”, that can include household chores, shopping, domiciliary care, administering medication and other tasks to enable the client to live independently in the comfort of their own homes despite some of the challenges that come with ageing and other conditions that require care. Walfinch can provide hourly care to meet the needs of a client from as little as one hour per week.
An industry snapshot
At present, nearly 1 million UK residents receive home care services, while Age UK estimates that approximately 4 million older people (40% of people aged 65 and over) have a limiting long-term illness or disability. This figure is expected to rise to over 6 million older people by 2030. In fact, by 2038, it is expected that around 66% of people in the UK will require care services, with one in seven being aged over 75 by 2040. This provides the scope of the market, but what about the financial side of things? Sources indicate that the domiciliary care industry, including home care franchises in the UK, is worth around £12 billion per year, while the overall industry has an estimated annual turnover of over £8 billion. This makes investing in a care agency franchise a seriously worthwhile consideration.
A whole range of benefits
- Walfinch provides exceptional training that complies with industry standards, enabling you to run your own franchise professionally and effectively.
- ● You will receive ongoing assistance and support through the onboarding process and beyond.
- You’ll be working with an established business model with proven success.
- Nationally known and trusted brand.
- ● Recession proof – there is exponential growth in demand for care at home.
A genuine opportunity to make a lasting difference to people’s lives.
Is prior experience required?
As an individual, you already bring a wealth of experience, knowledge and skills to the table when purchasing your own home care franchise. It would be ideal if you have previous experience in running your own business, managing others or working in care,, but these are not absolute musts. What will be of advantage to you is if you have prior experience in hiring staff, marketing as well as customer acquisition, management, finances, customer relationship management and franchisor relationship management. Most important is that you share the values of Walfinch – “do as you would be done by”.
Important factors to consider
When considering a domiciliary care franchise, it is important to be aware of certain factors prior to embarking on your investment journey. For starters, it can take between 6 and 9 months for you to start seeing financial results. Research into the location that you’ll be serving is also important and you need to find out more information about socio-economic indicators as well as age and demographics for your chosen area. You will also need to be registered with the Care Quality Commission (CQC), which is the body that regulates the industry. Every CQC registered company must have a Registered Manager and hiring the right employee for this position, or if you plan on taking on the role yourself, will be other crucial. In addition, you need to keep in mind that you will be responsible for people’s well-being and health and that this places an important set of responsibilities on your shoulders, but we will be here to support you every step of the way.
How can you get started?
If you feel that a home care franchise is the right fit for you personally and financially, then consider Walfinch. An established brand with a respected reputation for delivering high-quality home care services that spans several decades, you’ll not only be making a worthwhile investment in yourself and your future but making a valuable difference to the lives of others at the same time.
Conclusion
The UK home care industry is a worthwhile investment for anyone with compassion complemented by a strong business or management acumen. It’s an industry worth investing in as demand for it continues on a growth trajectory. With the vast array of benefits that come with running your own home care agency, consider Walfinch as your next franchising partner. This franchisor’s unbeatable market reputation means you’ll get strong support and assistance every step of the way as you build your franchise business into a profitable venture that helps you achieve your dreams while you help those in need.
