Is It A Good Idea To Start A Franchise Business During These Uncertain Economic Times
I was wondering if it's a good idea to start a franchise business during these uncertain economic times?
Confused in Colorado
The answer to your question is a resounding yes! By looking at opportunities that offer products or services that are still in need during times like these, you can help guarantee the success of your business now and well into the future.
Most business analysts agree that the top recession-proof industries include education, health care, computers/IT, security, energy and environmental. These business sectors are more likely to continue to grow despite an economic downturn.
The health care industry in particular is one that continues to hire, and the need for health care jobs is expected to grow faster than any other industry. According to the Centers for Medicare and Medicaid Services (CMS), home health care spending is one of the fastest growing health sectors and is projected to climb 7.7% each year reaching $119.0 billion by 2017.
One of my favorite franchisors in the health care field is CareMinders Home Care®. This opportunity is unique because it provides comprehensive case management for clients by coordinating both skilled and non-medical in-home care and services. The company is also deeply committed to providing quality care which is evident by their thorough screening process for hiring candidates. Using an industry-exclusive background screening and hiring system, the CareMinders process exceeds industry requirements for home care providers.
CareMinders Home Care was started by Gary Kneller who identified the need for a company that could provide extraordinary service in home care. From Gary's life experiences as a cancer survivor and caring for aging parents, he recognized that there were many home care companies but none that offered the combination of services or quality he expected. "I was looking for a company I could build a relationship with that could follow mine and my family's needs throughout life when various entry points into the healthcare continuum were required," Mr. Kneller explained.
Kneller's background in finance, economics, marketing and telecommunications combined with a life-long empathy for people helped him to build the CareMinders Home Care business into something that could help people of all ages and their families. Along with business partner Brian Schleicher, Kneller made his dream into reality.
Today CareMinders sells franchise businesses that offer companionship, personal, skilled care and related home support services and assistance to all ages of handicapped, convalescing and dependant individuals in their own homes, and when permitted, in nursing homes, hospitals, assisted care facilities and other medical settings. CareMinders has an unwavering commitment to supporting its franchisees by providing assistance throughout the planning, opening and ongoing operation stages. "CareMinders' franchisees truly feel a part of a winning team," said Kneller. "The demands and pressures that come with navigating a new business involves many critical processes, and a well-run franchise system like CareMinders can help reduce the stress of managing the challenges and risks."