5 Tips to Start Thinking Like an Effective Entrepreneur

5 Tips to Start Thinking Like an Effective EntrepreneurBecoming an effective franchise owner requires an investment of money, time and hard work. Another key piece to the puzzle of franchise ownership is developing the proper mindset. When you own and operate a senior care franchise, you need to be able to keep your mind on your goals, even when you’re being pulled in countless different directions.

If you are interested in franchise ownership within the senior care sector, but you’re not sure if you have the right mindset to be effective, here are five terrific tips to help you get your mind on track!

#1 — Always Be Seeking Opportunities

For many franchise owners, there is a specific time and place for seeking opportunities, whether it’s during networking events or on days set aside for online research and interactions. But to make an impact with a franchise, it’s necessary to develop the ability and mindset to seek opportunity at all times.

For example, let’s say you’re getting your morning coffee and you overhear a group of people talking about senior issues in the corner of the coffee shop. Your instinct might be to get your morning Joe and head out the door, but the entrepreneurial mindset would direct you over to their table where you could introduce yourself and let the party know that you are also involved with senior issues. Chances are, you’ll make an impact and a few connections!

#2 — Become Comfortable with Risk

Your instincts might tell you that an opportunity is just too risky to pursue. While your instinct might be right, it’s good to challenge it. Ask yourself whether the opportunity truly is too risky, or whether your instincts are guiding you out of fear. You aren’t going to operate effectively without taking some risks, so getting comfortable here is key.

5 Tips to Start Thinking Like an Effective Entrepreneur#3 — Become More Flexible

As a busy person with a tight schedule and a lot of hats to wear, a rigidly organized day may seem like the best way to keep everything in your life and work in balance. But you can’t always plan everything and expect the world to cooperate every step of the way. Challenges will arise, emergencies will need to be dealt with and your day can turn upside down in a second.

The more flexible you can be, the more able you will be to whether those challenges and changes. You can keep your structure, but learning to be more flexible within it will give you an edge.

#4 — Take the Initiative

Many franchise owners come from industries where they were given orders, or had to wait to be told what to do. Franchise ownership requires you to follow direction from the corporate level, but you also have to be willing and able to take action on your own, when needed. Meeting your challenges head on can be frightening, but with practice, you can develop a mindset that makes it easy!

#5 — Keep One Eye on the Future

Operating in the here and now is crucial for your franchise, but you also have to be able to see what’s just around the corner. Keep one eye on the moment in front of you, but be sure to keep the other on the future so you can plan effectively.

Are you interested in learning more about what it takes to be a senior care franchise owner during the aging-in-place boom? Always Best Care is here to help you navigate the industry as one of our franchise owners! Download our FREE franchising ebook today to learn more and refer to our most recent Franchise Disclosure Document for important details.

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Franchise Ownership and the Non-Medical In-Home Care Revolution

Couple having a business meeting

We live in a stressful world.  Our lives are busier than ever, and it seems like our to-do lists just keep getting longer and longer, no matter how hard — or how much — we work.  Add to that the fact that seniors are living longer lives and choosing, largely, to live at home, which requires family members to provide care in order to ensure that senior loved ones live comfortably and safely.  In-home senior care is something that’s becoming more crucial every day, and non-medical care is rising to the top of the list of things that today’s seniors require.  In fact, it’s fair to say that the demographic-driven, non-medical senior care revolution is here, and it is one of the more compelling reasons to consider owning and operating your own senior care franchise.

What Is Non-Medical Care?

Think about the seniors in your life — they probably require more medical care than you do, but for the most part, they live comfortably and happily. What they really need is help around the house, companionship, assistance with shopping and other errands, house-cleaning, medication reminders, and transportation.  These are all areas where modern seniors tend to require help, but none of them are so serious that they require a move out of the home or contact with nurses, doctors and other medical professionals.

This is the essence of non-medical care.

Basically, today’s seniors want to stay at home, but they can’t do everything that’s required of them to maintain the home and be truly safe.  For many families, the stress of the modern world (or the fact they live in another part of the country) prevents members from pitching in all that’s necessary to help mom or dad.  That’s why non-medical home care services like those offered by Always Best Care are in demand and so valuable.

Own a Business That Provides Outstanding Non-Medical Care for Seniors

Happy business owner giving each other a high fiveFor many families, the obvious answer to the non-medical care gap for senior loved ones is hiring a provider like Always Best Care.  Our caregivers are trained to help out with all of the things that seniors need help with, but don’t necessarily fall under the banner of medical care, that is what we call the activities of daily living, or, ADLs.

As the owner of your own non-medical in-home care franchise, you can provide a valuable service to your community as you grow a business of your own in a highly promising industry!

Of course, there is a lot to learn to become a senior care franchise owner and provide a high standard of care, but that’s one of the reasons why franchising is so attractive. Always Best Care ensures that all of its franchise owners are trained properly and understand what it takes to hire, train and manage the best caregivers. You don’t need to do it all alone!

If you’re interested in learning more about non-medical senior care and how you can join an industry that’s on the cutting edge, we invite you to contact us today.

Are you interested in learning more about what it takes to be a senior care franchise owner during the aging-in-place boom? Always Best Care is here to help you navigate the industry as one of our franchise owners! Download our FREE franchising ebook today to learn more and refer to our most recent Franchise Disclosure Document for important details.

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Senior Care Franchise Ownership — A Strong Business Model for the Future

Senior Care Franchise Ownership -- A Strong Business Model for the FutureFranchise ownership is terrific avenue for people who want to take their skills and experience into a different realm of business. Senior care franchise ownership, in particular, gets a lot of press because the industry is growing so much, but you may be wondering — is it a strong business model for the future?

Obviously, we are biased on the subject, but there are some undeniable facts that show that in-home senior care franchise ownership is a fantastic sector to enter for people like you who want to steer their ship into a solid, satisfying and potentially lucrative future.

What Do You See in Your Future?

Not every opportunity is a great fit for everyone. Senior care franchise ownership represents a fantastic business option for people from all walks of life, but it’s not everyone’s cup of tea. However, we would advise you not to be so quick to dismiss it if it doesn’t immediately stand out in your mind as a possible future.

The first step in deciding what you will do with your professional life is to envision what you want it to look like. Like most individuals who have dreamed of a better, more independent professional future, you’ve surely spent some time picturing yourself in the ideal scenario.

  • Do you see yourself working closely with others?
  • Can you picture yourself networking with key people in your community
  • Does your vision include work that helps people in your area?
  • Do you envision a professional life that includes built-in organizational support and structure?
  • Are you picturing a business that takes the needs of others into account?

If you answered “yes” to the questions above, senior care franchise ownership could be a great fit for your future!

Franchise Ownership and the Future

Senior care franchise ownership is getting a lot of press today, but you might be concerned about its future. Sure, today’s seniors have expressed a strong desire to live out their retirement years at home, but what about subsequent generations? Is owning a senior care franchise a solid option for a strong business future?

The fact of the matter is that there will always be seniors — and there will always be a need for senior care. And the way our society is moving, it’s easy to see that the current trend of seniors staying at home will continue. People like having options, and now that seniors know that they can stay at home where they are comfortable, it’s unlikely that future generations will revert back to the costly nursing home model that dominated in the past.

The numbers don’t lie, either:

  • There are currently about 46 million Americans aged 65 or older
  • By 2060, that number will more than double to nearly 98 million
  • The senior segment of the population is growing faster than any other
  • The demand for elder care alternatives will likely continue to rise, largely thanks to the increase in the number of cases of Alzheimer’s Disease and other forms of dementia

(Source: PRB.org Aging Fact Sheet)

Senior Care Franchise Ownership -- A Strong Business Model for the FutureWhat About Your Future?

If you have a vision for your future that involves a rewarding professional life in a solid, growing industry, you owe it to yourself to consider your own senior care franchise. The industry is growing rapidly with no signs of slowing down, and those who get on board today with their businesses will be well equipped to take advantage of tremendous opportunity here in the future.

Learn More

Are you interested in learning more about what it takes to be successful as a senior care franchise owner during the aging-in-place boom? Always Best Care is here to help you navigate the industry as one of our franchise owners! Download our FREE franchising ebook today to learn more and refer to our most recent Franchise Disclosure Document for important details.

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Senior Care Franchising: Opportunity for Husband and Wife Teams

For many couples, considering a second career is often a joint effort. Whether it’s because the kids have moved out and they’re looking for a business opportunity to pursue together, or if they simply want to find a way to spend less time apart as they work to achieve goals, a lot of couples turn to franchising to satisfy their second-career needs. Senior Care Franchising: Opportunity for Husband and Wife TeamsAlthough there are seemingly countless business types to pursue in the franchise world, senior care franchising could be the best fit for husband-and-wife teams because of its family focus and the many inherent opportunities to help others in the community.

Family and Franchise Ownership

Franchise owners often describe their businesses in the same way they describe their families: it’s all about doing the best for those who depend on you and remaining accountable to those upon whom you depend. In the senior care industry, the focus on family is even more obvious. Senior care franchise owners are there for their community, making themselves available for families who require solutions when it comes to caring for an aging loved one.

Experience Plays a Part

For many husband-and-wife senior care franchise teams, the passion to provide compassionate care comes from direct experience. Couples who are searching for a second-career opportunity in senior care tend to be drawn to the industry because they’ve played a significant role in the care of a loved one. They’ve worked together to help senior loved ones in their own families, and now they’re inspired to continue helping seniors. Franchise ownership represents the ideal fit for them.

Helping Others and Helping Each Other

When couples consider a second career together, they are focused on earning a living, but providing a resource for the community is also important. Senior care franchise ownership gives husband-and-wife teams the chance to satisfy needs for excellent, compassionate care in the community while establishing a legacy that goes beyond the ability to do business well. When couples help each other as partners in senior care franchise ownership, they help so many other people, too!

Senior Care Franchising: Opportunity for Husband and Wife TeamsA Clear, Combined Vision

Are you and your spouse searching for the perfect second-career opportunity? Do you share a passion for helping others and giving back to the community? You owe it to yourself to investigate whether your clear, combined vision is suited for senior care. Today’s seniors prefer to age in place, but families can’t always be around to ensure that their loved ones are safe and sound. As senior care franchise owners, you and your spouse can make a real difference while pursuing an amazing opportunity!

Learn More

Are you interested in learning more about what it takes to be successful as a senior care franchise owner during the aging-in-place boom? Always Best Care is here to help you navigate the industry as one of our franchise owners! Download our FREE franchising ebook today to learn more and refer to our most recent Franchise Disclosure Document for important details.

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Top Reasons Baby Boomers Are Retiring Later

Many Baby Boomers (those born between 1946 and 1964) are choosing to delay retirement and continue working—and not necessarily for financial reasons.   According to the US Bureau of Labor Statistics, the number of people age 65 and older in the workforce had increased from 12.9 percent in 2000 to 17.4 percent in 2010 and is expected to increase to 22.5 percent by the year 2020. Franchise with Always Best Care explores the reasons behind this increase in older workers.

Working Provides Rewards beyond Financial Compensation 

While it’s true that some Americans have not saved sufficiently and, therefore, must continue working into retirement, the reasons behind the trend of Boomers working beyond age 65 are varied.  Beyond financial necessity alone, older Americans are choosing to work longer for emotional and psychological reasons.

A study from the Sloan Center on Aging and Work found that 89 percent of older workers surveyed reported enjoying their work.  And in a sample of individuals ages 50 and over, the 2002 National Study of the Changing Workforce found that 91 percent of those surveyed said the work they do is meaningful to them.   Older folks continue working beyond retirement to reduce social isolation and increase their connection to the community.  Many people report that working helps give meaning to their lives, while others want to be able to use their knowledge and experience on the job.

Helping Baby Boomers in the Coming Years

Although many Baby Boomers are opting to delay retirement and continue working, this growing segment of the population will require assistance in the coming years and decades.  More folks are choosing to age in place, opting for home care rather than assisted living.  If helping seniors is your passion, contact Franchise with Always Best Care to learn more about starting a senior home care businesses with one of the top home care franchises in the nation.

Learn More

Are you interested in learning more about what it takes to be successful as a senior care franchise owner during the aging-in-place boom? Always Best Care is here to help you navigate the industry as one of our franchise owners! Download our FREE franchising ebook today to learn more and refer to our most recent Franchise Disclosure Document for important details.

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Please refer to our most recent Franchise Disclosure Document for important details.

Non-Medical Home Care vs. Home Health Care

As a senior care business owner, you may get a lot of questions from clients and their families regarding the difference between home health care and non-medical home care. In fact, to many potential clients, a “non-medical home care business” and a “home health care business” might sound very similar. Here are a few key ways in which these two types of home care differ from each other:

Home Health Care

Home health care is usually provided by a licensed medical professional. This can include nurses, physical therapists, and speech therapists, among other professionals. While a medical crisis used to mean the end of aging-in-place for many seniors, thanks to home health care, many seniors with medical issues can remain in their homes. Home health care services are usually prescribed by the patient’s physician, and the home health care professionals will only be authorized to perform these services. A few examples of home health care services are occupational therapy, wound care, mobility training, pain management, IV therapy or injections, and post-op rehabilitation.

Non-Medical Home Care

By contrast, non-medical home care focuses on keeping seniors safe and healthy, while still allowing them to remain in their own homes. Often, seniors require a little assistance around the house, and with personal tasks, in order to keep a good quality of life. Most often, the aspect of a non-medical home care worker’s job which is most important is that of companionship. Seniors need one-on-one contact and social interaction, as well as someone to help with activities they enjoy and to provide transportation to places they need to go for errands and recreation. Non-medical home caregivers can provide assistance with bathing, food preparation, hygiene and personal care, medication management, light housekeeping, and errands. Non-medical home care can be just as crucial to a senior’s well-being as home health care can be to someone with medical issues.

By distinguishing between these two types of care, clients and families can work with your home care business to better meet the needs of seniors who require one or both types of care.

Learn more about senior care franchising when you download our FREE eBook!

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Please refer to our most recent Franchise Disclosure Document for important details.

How to Transition from Stay-at-Home Parenting to Home Care Franchise Ownership

Making the Transition From Stay-at-Home Parenting to Home Care Franchise Ownership

Stay-at-home parents come to a crossroads when they have finished nurturing their children into adulthood. If you find yourself there now, you know how discomforting it can be to suddenly have energy and time available that, until recently, went directly to your children’s lives.  Perhaps you want to get back into a professional life — but you are wary of going back to work for someone else in a corporate setting.  But, you might not have the desire to begin from nothing with a startup, either.  Additionally, you probably want to find yourself on a path that allows you to continue giving and providing support to those who need it.

For many people transitioning out of stay-at-home parenting, the answer is senior care franchise ownership.

 

Why Senior Care Franchise Ownership?

Owning a franchise is a great way to realize the career ambitions you may have put on hold to raise a family, but without many of the huge risks that accompany startup businesses.  Franchises allow you the freedom to call the shots for defining your company’s culture and vision, but operating with the guidance, support, and a proven system backing you up every step of the way.

Of course, there are several types of franchises to choose from, in every imaginable industry. Everyone is familiar with fast-food, home cleaning and hair salon franchises, for example, but other sectors of the economy are becoming known for their franchise opportunities, as well. Senior care franchises are special in that:

 They aren’t just businesses; they are community resources
 In-home senior care is a rapidly growing industry, particularly with the “Baby Boomer” generation transitioning into older age and retirement
 Senior care franchise ownership gives you the opportunity to continue providing care and support to those who need it
 Franchise ownership in the senior care sector allows you to interact with people from all walks of life, connecting you to a rich life outside the home

 

Making the Transition into Senior Care Franchise OwnershipMaking the Transition From Stay-at-Home Parenting to Home Care Franchise Ownership

Now that you’ve got time and energy that you didn’t have available before, you might be tempted to jump right in to the first opportunity that comes along.  However, it’s good to perform some research and a bit of soul searching to determine what path is truly the right one for you and your future.

Senior care franchise ownership is a great way to perform meaningful work in the next phase of your life and career. It may not be perfect for everyone, but it is a unique opportunity for those who may be searching for a way to earn a living and give something back to the community at the same time.

We feel confident that your research will reveal senior care franchise ownership as an excellent next-step possibility for you!

 

For More Information

Are you interested in learning more about what it takes to be a senior care franchise owner during the aging-in-place boom? Always Best Care is here to help you navigate the industry as one of our franchise owners! Download our FREE franchising eBook today to learn more and refer to our most recent Franchise Disclosure Document for important details.

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8 Questions To Ask A Senior Care Franchisor Before Buying In

Starting a business requires a huge commitment, and senior care franchises are no exception.  Despite a common misconception, a franchise is not a business-in-a-box, and requires a lot of hard work and dedication.  At the same time, the appeal of a franchise, for many, is that it has the advantage of an established brand and a business model with proven success.

Identifying a well-established franchise with a high degree of success is only your first step in determining which franchise is right for you.  The fact that other people have had success does not guarantee that you will be successful and, therefore, it is exceedingly important to ask the right questions before making a decision.  Here are some key questions to ask franchisors:

  1. What kind of financial assistance do you offer to franchisees?  Many franchisors offer financing assistance, so be sure to inquire about how a franchisor may be able to help you in this regard.
  2. Do you provide ongoing training in the form of conferences, seminars, meetings, etc.?  Ongoing training, especially when included at no additional cost to you, can help ensure your success.
  3. Tell me about some of your most successful franchisees and the secrets to their success?
  4. What is the day-to-day business like for your franchise?  This will give you a sense of what you can expect as a franchise owner and can help you determine whether this particular franchise is right for you.
  5. Tell me about the overhead expenses I can expect with your franchise?  
  6. What problems do your franchisees most often run into?  This can give you valuable insight about what problems you’re most likely to run into, allowing you to plan in advance.
  7. What kind of insurance will I be required to carry with your franchise, and can you give me an idea of what it might cost?
  8. Do you offer exclusive territories?  If the franchisor doesn’t offer exclusive territories, rapid growth of the franchise means that you could be competing with other locations that pop up in close proximity to yours.

These are just some of the questions to ask during the consideration process. The more information you have, the better prepared you’ll be to make a smart, informed decision about which franchise is right for you.

About Always Best Care

Always Best Care is one of the nation’s leading providers of non-medical in-home care and assisted living placement services. The company delivers its services through a national network of nearly 200 independently owned and operated senior care franchise territories throughout the USA. Always Best Care has been named one of the top franchises for minorities by the National Minority Franchising Initiative, and one of the top franchises for veterans, as featured in USA Today.

Want to learn more about the exciting and rewarding prospect of franchising in the senior care industry? Download our FREE eBook today!

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Please refer to our most recent Franchise Disclosure Document for important details.

401K Home Care Franchise Funding

Should I Use 401K Funds to Start a Home Care Franchise Business? It’s a question many ask every day. The economic rollercoaster has made it more difficult for individuals to find funding to start a business as financial institutions have become more reluctant to issue loans. With fewer options, many people hoping to start a business are seeking alternatives to traditional bank loans.

The days of lending to people with no assets, no income and/or no job are long gone (and for good reasons).  Given the greater difficulty of obtaining funds, more people are considering tapping into retirement funds to launch a business.  Is this a good idea?  Let’s explore some of the advantages and disadvantages of tapping into a 401K to get a business off the ground.

Benefits of Using Retirement Funds

 If you decide to withdraw funds from a retirement fund such as an IRA or 401K, how you do so is exceedingly important.  A Rollover for Business Startup (ROBS) allows you to tap into retirement funds with no penalties or taxes.  Compared to cashing out a 401K or IRA, which would result in a 10% early withdrawal fee, in addition to up to 30% taxation, using a Rollover for Business Startup is the wiser choice and, thus, has seen a dramatic increase in recent years.

Additional advantages of sourcing money from retirement accounts include:

  • Secure funds quickly—usually in just two to three weeks
  • Use the funds to pay yourself a salary during the start-up of your business
  • No interest on the loan, thus moving you closer to profitability sooner
  • Improved cash-flow situation from the start

Disadvantages of Using Retirement Funds

As with most loans, there are disadvantages to using retirement funds to start a business. The first concern is the risk associated with using funds previously set aside for retirement on a business that may not ultimately succeed.  Additionally, your financial advisor may charge you several thousand dollars for the paperwork to process a rollover, in addition to fees for managing the new fund.

Make sure to do your research when considering whether to use retirement funds to start a business, as there are some considerable risks—you should know what’s at stake before you make any final decisions.

Always Best Care is one of the nation’s leading providers of non-medical in-home care, assisted living placement services, and home health care.  The company delivers its services through a national network of over 200 independently owned and operated franchise territories throughout the USA.

Learn more about senior care franchising by downloading our FREE eBook today!

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Please refer to our most recent Franchise Disclosure Document for important details.

Realize Your Dream of Helping Seniors through Franchising

The senior care industry is growing rapidly.  Roughly 13% of the current US population is 65 or older — a number that is projected to increase to around 20% by the year 2040. Changing demographics and an aging Baby Boomer population are creating unprecedented need for senior care services, as well as unprecedented opportunity in this growing industry.

The needs of seniors vary dramatically—some seniors need help with everyday activities like errands, bathing, dressing, medication management and housekeeping, while others have medical conditions like dementia, Alzheimer’s or diabetes that require monitoring and care.  Still others require round-the-clock care in an assisted living community or nursing home.

Starting a Senior Care Franchise Business May Be Within Reach

If your passion is helping seniors, and you have a mind for business, starting a senior care franchise may be right for you. The extent of care you are prepared to provide seniors may be dependent on the amount of capital you have to launch the business.  For example, non-medical in-home senior care does not require a medical staff or medical equipment, making your start-up costs lower than that of a home health agency that provides medical care.

You can launch a non-medical in-home care business with between $74,000 and $150,000.

If helping seniors is your dream, owning and operating a senior care franchise can help you make that dream a reality, and senior care is one of the most recession-proof industries in the nation.  Learn more about franchising with Always Best Care. Always Best Care is one of the nation’s leading providers of non-medical in-home care, assisted living finder and referral services, and skilled home health care.  The company delivers its services through a national network of over 200 independently owned and operated franchise territories throughout the USA.
Learn more about senior care franchising by downloading our FREE eBook today!

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Please refer to our most recent Franchise Disclosure Document for important details.