Home Care Industry and Franchising Opportunities Grow to Meet Rising Demand
TORONTO, Dec. 4, 2013 /CNW/ - Home Instead Senior Care®, the world's leading provider of in-home care services for seniors, has reached a milestone in its 19-year history with the opening of its 1,000th franchise location. The 1,000th franchise officially opened Dec. 4 in Niagara Falls, Canada, by local owners Denielle Cuoco and Jonathan Cook.
"We know that the need is great in the Niagara region and we are pleased to meet the local community's growing demand for in-home senior care services," says Denielle Cuoco, Home Instead Senior Care, Niagara Falls Franchise Owner.
The growing Home Instead Senior Care network which surpassed the $1 billion annual revenue mark in 2012, also announced it will enter Quebec and China in 2014. Upon the expansion, Home Instead services will be offered in 18 countries.
"These milestones reflect the outstanding reputation our franchise owners have built by providing well-trained, trustworthy CAREGiversSM to more than one million clients," said Roger Baumgart, chief executive officer of Home Instead, Inc., the franchisor of the Home Instead Senior Care network. "Studies consistently show that older adults around the world prefer to age at home and, with support, they can typically do so."
Home Instead provides support services - assistance with activities of daily living, personal care, medication reminders, meal preparation, light housekeeping, errands, incidental transportation and shopping as well as specialized Alzheimer's care - which enable seniors to live safely and comfortably in their own homes for as long as possible.
According to the World Health Organization, by 2050, the world will have almost 400 million people aged 80 years or older. WHO further notes: "Never before have the majority of middle-aged adults had living parents." This global aging population and changing family dynamics have drastically increased the need for Home Instead's in-home care services to help seniors age where they most often want to, at home.
Numerous recent studies and surveys support an increase in demand for in-home care. In Canada, the number of seniors is projected to exceed the number of children aged 14 and younger for the first time ever between 2015 and 2021. In China, the proportion of people over 65 is estimated to rise from 7.8 percent of the total population in 2005 to 16.3 percent in 2030. Key in these studies is March 2013 survey results from life insurance company Genworth Financial, Inc. that reveals 70 percent of their first time, long care claimants in the U.S. chose in-home care.
"As a global society, we are generally unprepared for the growth of senior care needs," said Mike Hodin, executive director of the Global Coalition on Aging. "Home Instead Senior Care services provide an innovative model that is scalable and sustainable as we seek to meet 21st-century care needs. Home Instead fills a critical gap in care that addresses senior housing shortages, seniors' desire to age in home and the rising levels of support needed for families caring for a senior loved one."
This population aging trend is leading to economic opportunities in the form of franchise businesses and job growth. The Home Instead Senior Care franchise system was ranked 41 on Entrepreneur's Global Franchise Rankings list and 60 on Entrepreneur's Franchise 500 ranking in 2013. Additionally, five Home Instead franchises ranked on the Inc. 5000 list. Findings from the U.S. Bureau of Labor Statistics show that the employment of personal care aides is expected to grow by 70 percent from 2010 to 2020, much faster than the average for all occupations.
Further compounding the growth of the industry is the number of dependent adults. The World Alzheimer Report 2013 predicts the number of dependent older people will rise from 101 million in 2010 to 277 million in 2050, an almost threefold increase. The report offers conservative estimates that at least 36 million people worldwide currently live with Alzheimer's disease or other dementias, and that number is expected to grow significantly in the coming years.
One of Home Instead's most in-demand services is its new Alzheimer's and Other Dementias CARE: Changing Aging Through Research and Education® program. This first-of-its-kind Alzheimer's care training is offered to Home Instead CAREGiversSM and is also made available free of charge for family caregivers. The training encourages mental engagement to help older adults remain safely at home and in familiar surroundings as long as possible. CAREGiversSM and family members learn to appreciate and adapt to the mindsets of their loved ones to help manage various behavioral symptoms.
Beyond setting standards in CAREGiverSM training and family support training, Home Instead Senior Care is actively engaged with The Global CEO Initiative on Alzheimer's Disease, The Global Coalition on Aging, the World Economic Forum Global Agenda Council on Ageing and the first G8 summit dedicated to coordinating a global response to Alzheimer's to meet the challenges of a global aging population.
"Home Instead is committed to changing the face of aging by leading and participating in global conversations and initiatives that positively impact the lives of aging adults," said Baumgart. "This focus not only aids current and future clients, but it also positions our franchise network for growth and enables us to meet the demands of the aging global population for in-home senior care services."
ABOUT HOME INSTEAD SENIOR CARE
Founded in 1994 in Omaha, Nebraska by Lori and Paul Hogan, the Home Instead Senior Care® network is the world's largest provider of non-medical in-home care services for seniors, with 1,000 independently owned and operated franchises providing in excess of 45 million hours of care throughout the United States, Canada, Japan, Portugal, Australia, New Zealand, Ireland, the United Kingdom, Taiwan, Switzerland, Germany, South Korea, Finland, Austria, Italy, the Netherlands and Mexico. Local Home Instead Senior Care offices employ more than 65,000 CAREGiversSM worldwide who provide basic support services - assistance with activities of daily living (ADLs), personal care, medication reminders, meal preparation, light housekeeping, errands, incidental transportation and shopping - which enable seniors to live safely and comfortably in their own homes for as long as possible. In addition, CAREGivers are trained in the network's groundbreaking Alzheimer's Disease or Other Dementias CARE: Changing Aging Through Research and Education® Program to work with seniors who suffer from these conditions. This world class curriculum is also available free to family caregivers online or through local Home Instead Senior Care offices. At Home Instead Senior Care, it's relationship before task, while continuing to provide superior quality service that enhances the lives of seniors everywhere.
SOURCE: Home Instead Senior Care
Home Instead, Inc.