Is a home-based franchise right for you?
Working from home offers many advantages. It provides...
A recent report by the U.S. Census Bureau has revealed that America has an aging population and improvements in medical care are seeing people live longer. Indeed, it is anticipated that by 2060, 95 million Americans will be aged over 65 and a great proportion of them will be likely to need or consider some level of senior care at some point.
This means that senior care is a growing market that many savvy entrepreneurs will be looking to exploit. But is it as easy as offering in-home care or opening a residential facility and waiting for retirees to flock to you?
No. In fact, senior care franchisees require a defined and specialist skill set that not everybody possesses. High-quality senior care is expensive and many older people can be very resistant to change, unwilling to admit they need help and actively underestimating their needs. These factors mean that prospective franchisees must not only want to help people to live their best lives, but also be strong communicators and excellent salespeople. Here's why.
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Communication
While some potential clients will seek out your services, it is likely that a large proportion of your time will be spent sourcing clients. You will need to build a strong referral network that will likely include hospitals and physicians, insurance companies, estate attorneys, elderly care attorneys, senior communities and nursing homes, to name but a few.
You will need to find and nurture these leads to attract the seniors and their families who will make your business a success. You will need to understand their language, actively engage and convince them of your ability to help and support their clients. Furthermore, you will be operating in an extremely competitive environment, and in order to stand out, you will need to be personable, persuasive and persistent.
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Sales skills
You must accept that not every sales pitch will be successful and be resilient to knock-backs and failures. You will need to set yourself ambitious targets and pursue them relentlessly. You will need to demonstrate impressive attention to detail, be rigorous in your record keeping and continually strive for success.
You will need to work across multiple advertising platforms, appealing to your target demographic and raising your visibility to their family members. You will need to use appropriate language, understand peoples' motivations for seeking senior care, and be able to persuade clients of your suitability over that of your competition.
In conclusion, senior care is a growing business, but it is competitive. Unless you are entirely committed, you are likely to experience disappointment. Take the time to consider all aspects of your personality, talk to potential franchises and learn more about this exciting sector in order to determine whether becoming a senior care franchisee may be the right move for you.
