Typical franchises: Brightstar, Nurse Next Door
Why it’s popular: Due to advancements in medicine and technology, Americans are living longer. Boomers, already time-stressed, are trying to do the right thing by letting their parents live in their homes as long as they can. But they need help and they are turning to visiting nurse and assisted-care services.
Due diligence: “It’s a competitive sector,” said Miller, and you need to look carefully at the brand, and how it differentiates itself. The services that various franchises offer vary greatly — from companion care to medical care — so it’s important to understand what the business model offers.”
Libava said it’s also important for potential franchisees to understand what their role will be. “You’re not a caregiver, you’re running marketing and operations; it’s about networking,” he said.
Sample startup costs: Brightstar — $100,000; Nurse Next Door — $50,000 to $75,000