The Wall Street Journal created a list of 25 high-performing franchise companies. Home instead Senior care was the only home care company on the list. Here’s what they said about Home Instead.
Home Instead Senior Care, the franchise on the list with the highest average net-income growth, has benefited from the rise of the elder-care industry and is poised to serve a large demographic: baby boomers.
The franchise, which offers senior home-care services, is owned by Home Instead Inc., Omaha, Neb. Net income for the company’s 705 franchises was up 331% over the past three years.
“The trend is still growing in the senior-care market,” says Lori Kiser-Block, president of FranChoice Inc., a franchise broker firm from Eden Prairie, Minn. “People still need some help with their parents and need somebody to help them within their home or living outside their homes or living with assisted services.”
An estimated 36.8 million people, or about 12.4% of the U.S. population, are 65 and older, according to the U.S. Census Bureau’s 2005 data. And that number is expected to double in size within the next 25 years.