Even though the United States is currently enjoying a strong economic boom, a recession will happen at some point in time. Just as with many other aspects of life, it’s not a question of if a recession or downturn takes place, but rather when. For entrepreneurial minded individuals, looking ahead and thinking about a recession proof business is a prudent step in the right direction to protect one’s investment and potential future assets. Home care is considered by some to be one of the top recession resistant entrepreneurial investments a person can make.
The current economic upswing began, according to some estimates, in June 2009 and if it maintains this course of the next several months, through July, it will become the longest prosperous run in America’s economic history. Currently, the economic numbers are quite impressive, and now may very well be one of the best times to invest in a home care franchise.
According to Entrepreneur, in its blog, 5 Recession-Resistant Franchise Sectors You Should Consider During an Economic Downturn, written by Jim Judy:
“America is getting older. In fact, the U.S. Census Bureau predicts that by 2035, there will be more Americans over the age of 65 (78 million) then there are children under the age of 18 (76.4 million). Moreover, 87 percent of seniors 65 and over want to stay in their current homes and communities as they age, according to the AARP.
Senior home care allows for that by providing non-medical caregivers to come to seniors’ homes and help them with everyday chores they aren’t able to do themselves for a fraction of what senior living communities would charge. This includes meal preparation, escorting them on errands, housekeeping, caring for pets and more.”
Because of the economic prosperity in the United States as well as these other factors, becoming invested in a home care franchise is considered by some to be a wise business decision.
Within the home care industry, it’s not just direct services that are helping to grow this sector of the economy, but also technology. There are new brands, new devices, and new innovations coming on the market and even being tested every year. More individuals, doctors, hospitals, and even legislators who are grappling with difficult budget deficits are seeing the tremendous value of home care over other types of long-term care options.
Investing in a home care franchise now can provide a determined entrepreneur a recession resistant business opportunity that could very well grow, even during an economic downturn.
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