Long-established Beehive, home care mainstay BrightStar and newcomer Majestic offer different franchise models
It isn’t a boom yet, but interest in franchise ownership of senior living properties has grown recently, and this model shows signs of becoming more prevalent as baby boomer demand gains strength in the coming years.
Franchise-based senior living already was gaining steam prior to COVID-19, and the pandemic might have increased the appeal of this business model. That’s in part because smaller properties, which are common in franchise-based businesses, proved easier to secure against COVID-19 infections. Also, unemployment spiked during the pandemic, and purchasing a franchise is a route forward for laid-off workers. In home care — where franchising is commonplace — some businesses were seeing record levels of new franchise agreements in the spring of 2020.
Sign up for SHN + to read this exclusive content.
Need more than 5 members? Contact us for more information.
* per member