US Care Services for the Elderly Are in High Demand Financial Times (06/04/03) p.4; Murray, Sarah
By 2030, around 5 million Americans are predicted to need nursing home care at a cost of $70 billion, Mayo Clinic researchers report. In addition, full-time care at such places is growing more costly--around $50,000 per person annually, according to the Health Insurance Association of America. As a result, individuals are seeking less expensive options, creating a boon for franchisors, including Home Helpers. The company's home assistance program helps with such activities as grocery shopping, some housework, and phone check-ups. The business has expanded from 87 franchises annually a year ago to the current total of 204 . Since the firm provides companion care that does not deal with medical services, all franchisees have to know concerning running the business can be obtained via training programs and support systems, including marketing and advertising packages and access to a Home Helpers intranet. It costs between $23,000 to $26,000 initially to start a Home Helpers franchise and get it up and running. If franchisees do not wish to fund the business themselves via a small business loan, the company has its own financing facilities.