Top 10 American Franchises

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TRUSTED GLOBALLY FOR OVER 30 YEARS IN FRANCHISING

Seniors Helping Seniors® In-Home Services Offers a Meaningful Opportunity for Potential Caregivers and Investors Amid Economic Uncertainty

 

With many “unretiring” in record numbers and watching their retirement savings shrink, the in-home senior care brand provides a chance for seniors to make a difference in their fellow seniors’ lives as a caregiver or franchise owners.

3.3 million more people retired in 2021 than in 2020 – an era appropriately named “The Great Retirement.” The trend is largely attributed to a combination of economic circumstances that bolstered retirees’ nest eggs and a challenging job market that encouraged many to cut ties with the working world earlier than planned.

 

 

2022, however, has many retirees re-thinking this decision. According to CNBC, as of April, 3.3% of people who were retired a year earlier are now employed — meaning about 1.7 million people “un-retired” over that time. It’s no wonder as a 20% stock market decline, and an 8%+ inflation rate has significantly decreased the value of seniors’ retirement savings, forcing many to rejoin the workforce.

 

What may be an unexpected turn of events for these retirees may actually be an enormous benefit to businesses struggling to find workers. This is especially true for Seniors Helping Seniors, the in-home senior care brand that employs active and mature caregivers to help their fellow seniors age in place.

 

“The Great Retirement followed by this need to return to work is a clear indicator that the world has changed following the COVID-19 pandemic, and the Seniors Helping Seniors® business model has never been more relevant,” said Namrata Yocom-Jan, Seniors Helping Seniors® president. “We are in a position not only to employ those seniors needing to return to the workforce but to provide them with fulfilling and life-changing experiences to help their fellow seniors.”

 

The Booming Senior Care Industry

 

The in-home senior care industry has seen unprecedented growth in recent years, as the baby-boom generation has reached the phase in life where these services become necessary. An estimated 10,000 baby boomers turn 65 years old every day, and by 2050, nearly 20% of the U.S. population will be age 65 and older. According to the National Council on Aging, 90% of those seniors say they plan to remain in their homes for the next 5 to10 years. With more than 400 nursing homes projected to close in 2022 based on money and staffing issues, and the U.S. home care market is expected to grow to $225 billion by 2024, in-home senior care companies across the country are pushing to meet the demand.

 

The rapidly aging population combined with the demand for in-home care means Seniors Helping Seniors® locations are in more need than ever of active and mature caregivers to help their fellow seniors.

 

An Opportunity for Seniors to Make a Difference in “Un-retirement”

“The Great Unretirement” certainly benefits businesses like Seniors Helping Seniors® offices seeking employees and caregivers, but it also benefits seniors re-entering the workforce. Many are looking to more meaningful and fulfilling industries to devote their time to this point in their careers.

 

Seniors Helping Seniors® locations focus on fostering long-lasting and compatible relationships between the client and caregiver. In addition to these connections, senior caregivers can earn extra income, enjoy a flexible schedule, and lend a hand with a fellow senior’s daily living needs.

 

“We’ve put a lot of work into ensuring that Seniors Helping Seniors® in-home care is not only the best option for our clients but also for caregivers across the country,” Yocom-Jan said. “There is so much that goes into high-quality senior care, including both medical and non-medical services, but central to all of that is a genuine and caring relationship between the caregiver and client. We will continue to make sure anyone with the passion and skills to be a great caregiver will find an opportunity to grow and impact with Seniors Helping Seniors® services. Our caregivers truly have…a way to give and to receive®.”

 

A Meaningful, Community-Focused Investment Opportunity

 

Unfortunately, 2022 has not been kind to many people’s bank accounts. $1 million in savings a year ago is now $750,000 in real terms, and $500,000 is now $370,000. Although many retirees are returning to work, others are exploring ways to secure their retirement savings further and make smart investments that will support them in light of a possible future recession.

 

A Seniors Helping Seniors® franchise offers an opportunity to invest in a booming industry as well as a meaningful opportunity that provides value in the community to those in need.

 

Seniors Helping Seniors® franchise system was founded by husband-and-wife duo Kiran and Philip Yocom. Kiran, who grew up in India, later worked to advance humanitarian efforts alongside Mother Teresa. After moving to the U.S. in 1995 and marrying her husband Philip, the Yocoms felt called to provide loving care to seniors and to cultivate an exchange of gifts at every generational level. Together, the Yocoms founded Seniors Helping Seniors® in-home services in 1998, opening the brand up to franchising in 2006.

 

Today, the brand remains the only company that prioritizes hiring active seniors to provide care services to their less-active counterparts. The franchise system has grown to over 200 locations worldwide and is looking to continue its growth to change the lives of seniors. The brand’s success cannot be denied as it’s welcomed 30 new franchise owners to its system covering 65 territories over the past 12 months.

 

“Seniors Helping Seniors® franchise has been able to establish itself as a standout company in the in-home senior care segment thanks to our multiple points of differentiation,” said Yocom-Jan. “We have a strong focus on our franchise owners, mature caregivers, an optimized and proven business model, a community-driven atmosphere, strong operational support and a mission to focus on love. These factors have all contributed to our ability to provide compassionate care to the nation’s growing population of individuals aged 65 and above for the last 20 years.”