Want a Future-Proof Industry for Your New Business? Consider Home Care

Starting a business is one thing, making sure it lasts is another. If you’re serious about running a business that will still be thriving in 10, 20, or even 30 years, you need to choose an industry that will help your business stand the test of time. Here’s why home care could be a great future-proof industry for your new business.

Businesses are operating in every industry. Therefore, most industries must be suitable for my new business, right? Well, yes and no. Sure, you could start a business in any industry, but some industries are more stable (and support success more freely) than others. For example, retail or hospitality businesses are popular with new business owners. Still, they’re both hard to predict (changing supply costs) and vulnerable to economic shifts (viewed as a ‘luxury’ consumers can live without). Home care on the other hand is an essential service, meaning it’s a service people will almost always need. Because many people rely on home care businesses to live a happy and healthy life at home, there will likely be stable demand long into the future.

According to the Australian Bureau of Statistics, the number of people over 65 is expected to double in the next few decades. This doesn’t just mean more demand for residential aged care facilities. Instead, more and more older Australians prefer home care, which allows them to stay in their own homes for as long as possible and maintain the lifestyle they’re accustomed to. Unlike trends that come and go, this is a long-term shift in how people approach ageing. In other words, the demand for home care will likely continue to increase as our population does.

Government support is another primary reason why a home care business may be more future proof than other industries. Through multiple initiatives, the Australian government funds aged care and disability support services, including in home care. This funding helps keep services accessible for customers, driving clients to businesses like yours. Unlike industries that rely on market trends or consumer spending habits, home care has strong financial backing from government programs, helping it remain affordable for consumers regardless of their income or the state of the economy.

One-off sales are great, but future-proof, long-term success depends on reliable, ongoing revenue. Home care businesses stack up well here, too. Rather than depending on large one-off purchases, home care businesses are built on consistent, ongoing services. Clients need regular care—sometimes multiple times a week, or even once a day—and when they find a provider they trust, they usually stick with them. This creates a steady income stream that isn’t as vulnerable to economic downturns.