Opening a hospice franchise is a great way to start your own business or diversify your portfolio of investments. Interim HealthCare has proven to be a major player in the industry – we’ve been in business for more than 50 years and have opened franchises across the country. Now more than ever, there’s great potential in the industry. Read on to learn more about some of the hospice start up costs and the financial benefits of investing now.
Reasonable Startup Costs
Opting to partner with Interim HealthCare is a smart choice because we’ve managed to keep our startup costs lean. Newcomers to the industry often struggle to predict exactly what they’ll need to get their business up and running. Truth is, they frequently pay more than they need to for business necessities. We’ve streamlined our startup costs and estimate that new hospice care franchisees will spend $389,250 to $477,000 on just about everything they need to open their doors. Our experience and industry connections allow you to get started with confidence.
A Growing Industry
It’s estimated that the healthcare industry will be worth $364.7 billion by 2022. As people live longer, a growing segment of the industry is home and hospice care. Families need to know that their loved ones are safe in their homes, and our franchisees can provide them with valuable peace of mind. Communities everywhere have growing populations of elderly residents who are in need of services like ours, making now a great time to open a home care or hospice franchise with Interim HealthCare.
There’s been particular growth in the hospice sector as evidenced by Medicare spending, indicating that more people than ever are in need of hospice services. For these individuals, living out the rest of their days in comfort and peace is paramount. Between 2007 and 2015, Medicare spending on hospice care jumped by 52%. That dramatic increase demonstrates that now is a better time than ever to invest. A key benefit of partnering with Interim HealthCare is that you can open both a home care franchise and a hospice franchise, effectively increasing the number of prospective clients in your territory.
If you’re working in the corporate world, chances are you’re working on an hourly or salaried basis. No matter how much money you help your company generate, you’re unlikely to see a large share of the profits. Owning your own business, however, means that you’ll reap the rewards when things are going well. Once you’ve paid for expenses like fees, employee salaries, and so forth, you’ll be left to enjoy the fruits of your labor. Along these lines, you’ll also enjoy the freedom to do things like set your own schedule.
These are just a few of the financial reasons that now is a great time to invest in a home care or hospice franchise with Interim HealthCare. Contact us today to learn about our hospice start up costs.