“The pie is big enough for all of us and it will only grow.” This is how one executive with an established home healthcare franchise described the mood of the marketplace.
After nearly a decade of success, this statement has been proven to be true. Consider the growth of leading franchise brands Always Best Care Senior Services, BrightStar Care, and Senior Helping Seniors. Each of these companies have doubled the number of franchised locations that are part of their system over the past 3 years.
Nor is growth limited to adding new establishments. Since 2000 a growing number of new concepts has arrived on the scene. Brands such as Apple Tree Home Care, FirstLight HomeCare, Golden Heart Senior Care, Golden Independence Homecare, LivHome, Nurse Next Door, and Trova Home Care all started offering franchises in 2010 - a record number of new brands in that sector for a given year. As of 2011, there are at least 60 franchising concepts in the home healthcare sector and more starting up all the time.
With good reason: there is indeed more room to grow. Home healthcare establishments that operate under a franchise brand are only a small part of the entire home healthcare universe.
As of 2011, the U.S. healthcare industry includes more than 780,000 hospitals, doctor offices, emergency care offices, nursing homes, and social services providers, generating annual revenue of approximately $2.5 trillion, and employing a workforce of more than 14 million. Industry revenues will represent 20% of the GDP by 2015. At an estimated $19 trillion GDP in 2015, this means $3.8 trillion in healthcare industry revenues, an increase of 52% over 2010. Just about 18% of the estimated 22,000 home healthcare establishments are franchised, accounting for less than 5% of revenues in the home healthcare industry.
This Industry Report begins by providing context for potential growth by outlining the overall healthcare industry and growing demand for healthcare services. It then examines the comparative performance of those franchise brands that offer Home Healthcare services, identifying market leaders and up and comers.
Purchase the 2008 Home Health Care Industry Report for $499
