Over the next few decades, home care franchise partners are going to be even more glad they chose this business.
The home care industry is on the cusp of a major breakthrough. With Baby Boomers (the largest generation of the last century) now reaching their 60s and 70s, the next 30 years will encompass more people in need of home care. The boom still has another few decades before it peaks, and the home care industry is also poised to grow exponentially to accommodate the increased demand for assistance.
The Australian home care industry is growing rapidly due to an ageing population. Driven largely by our sizeable Baby Boomer cohort who are estimated to be 5.5 million strong the structure of Australia’s population is changing. Born between the years of 1946-1965, the oldest Baby Boomer is yet to turn 80!
This is coupled with the longevity of Australia’s elderly increasing due to advances in medicine and technology. The Intergenerational Report suggests that by 2055 Australians aged 60 or 70 can expect to live four or five years longer than 60 or 70 year olds today.
Become a Nurse Next Door Franchise Partner before the ageing population peaks.
According to the Annual Report on Funding and Financing of the Aged Care Sector, over the next 20 years we will see the size of the 70 years and over cohort increase by around 1 million people each decade; this is on a base of 2.7 million people in 2019. Underneath this, the older age groups will more than double over this period; for example, the 85 years and over cohort will increase from just under 500,000 people in 2019 to over 1 million people by 2039.
And with an increasing life expectancy and rising costs of hospital services, the home care franchise industry needs to continue to grow in order to meet the demand. Compared to the other major generation–millennials–Boomers are spending more, and this “silver tsunami” will invest more in health care in the coming years.
Over 90% of Australians say they’d prefer to stay in their own home as long as possible, and that’s no surprise. More retirees are choosing home care over other options due to independence, increased comfort, being closer to family, and maximising quality of life while experiencing as little disruption as possible. Because of this, more health care professionals and entrepreneurs are finding major opportunities with franchises like Nurse Next Door.
The Australian home care industry is growing. It’s one of the reasons Nurse Next Door is a franchised organisation–we’ve created a name brand that clients and their families recognise and trust.
Growth in the Australian senior population makes a home care franchise the top choice for a franchise business, and for business in general. Now is the best time to get in on the home care franchise industry before the biggest generation of older Australians peaks!
With a core purpose of Making Lives Better®, Nurse Next Door, under the leadership of Melbourne based Master Franchisors Matt Fitton and Amber Biesse, provides in-home aged care and disability support services built on our philosophy of Happier Ageing® focusing on possibility rather than disability.
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