Home Care — A Safer Industry for Your New Business

From increasing demand to unwavering stability, here’s why the home care industry could be a safer option for your new business.

The Australian population is increasing year after year. And as the population increases, so does the demand for care and support delivered at home. Gone are the days when admission to a nursing home was necessary in older age. These days—90% of Australians would prefer to age or live with disability in the comfort of their own homes, receiving flexible home care services. What does that mean for you? Well, if you start a business in the home care industry, your pool of potential clients will be ever-increasing. More potential clients = greater prospects for success.

No business is ever 100% safe from external influences—weather events, pandemics, economic changes. However, businesses operating within the home care industry tend to experience far more stability than others. For example, home care is an essential service, meaning most home care businesses will continue to trade during times of uncertainty. Plus, while a shift in the Australian economy may greatly reduce the customer base of a retail or hospitality business, it won’t greatly reduce the number of home care consumers. Care is a necessity, creating stability for your new business.

Now, you’ve decided that starting a business in the home care industry could be a great option. Should you buy a franchise, or start from scratch? If you start your business from scratch, you’ll have more control, but you’ll also be open to more risk. In fact, studies show that only 40% of businesses started from scratch survive the first three years. On the flip side, 80% of franchise businesses survive three years and beyond. Plus, when buying a franchise, your new business will have access to support networks, established branding to piggyback off, and proven industry systems. Both approaches to starting a new business have merit—but make sure to do your due diligence, and choose avenues that mitigate risk, wherever possible.

Are you ready to build your successful business in the Australian home care industry? Enjoy the backing of a well-known brand and ongoing support as a Simply Helping franchise business owner. Click here to learn more and submit your enquiry today.