Aging Population Sets Healthcare Industry on Fire, says CEO of Silver Cross

Provide an overview/ description of your industry. Include reasons why it's a great industry to start a business in today.

As the population of people age 65 and over grows, demand for healthcare-related products and services grows as well. One of the most significant trends taking shape across the US and Canada is the concept of "Aging in Place" . Defined as the desire to remain in one's home and living independently rather than moving to assisted living facilities, Aging in Place is driving the growth of the in-home medical equipment business and specifically, the demand for residential accessibility and mobility equipment.

How has your industry changed in the last 10 years? 20 years?

More families are looking for ways to maintain their independence and stay in their own homes. With healthcare costs increasing and governments being stretched to the limit, the market for recycled products just makes sense.

What trends do you see in your industry over the next 5 years? Next 10 years?

The number of people age 65 and older in the U.S. exceed 40 million (13.0% of the total population) and is projected to double to over 80 million [20% of the population] by the year 2050 63% of people age 55 and over plan to remain in their homes and "Age in Place" - MetLife Mature Market Institute

What is the biggest concern about your industry that a franchisee candidate should be aware of and investigate?

Government rules and regulations from an installation standpoint.

Why do you think your company stands out in the industry?

Unique with the recycled focus on accessibility equipment. Only company to franchise in both countries. Only company that has a dominant web presence for the past ten years.

What makes your franchise/ business opportunity more attractive than your competitor's?

No direct competitors in the USA that focus on recycling products. Our web presence is second to none. Compared to the senior concepts we only need two employees and our business hours are Monday to Friday and pretty much 9-5 PM.

Describe the ideal candidate. Do you think your requirements are any different than your competitor's?

Described on other form. We need a good engager who understands the importance of follow up.

What's the strongest skill you require in a candidate?

Good engager.

Describe the working environment of your franchisees (indoors, home office, mobile, etc). Is your environment typical of other companies in your industry?

About 30% in showroom and 70% on road meeting clients and referral sources.  Mainly 9-5 M-F . This is much easier than the senior concepts which are much more demanding.

Why has you're your company been successful?

Focus on the core competencies. Continuous improvement of our marketing plan. Dominance of the web within our industry, and input from all franchisees.

What advice would you give someone interested in buying a franchise in your industry?

The market is growing by both the demographic shift to seniors and product awareness. Recycling our core products meets the needs of families in need of lower cost solutions. 

How much experience in this industry should a franchisee candidate have should they consider buying a franchise in your industry?

None. We like to train from A-Z.


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