Franchise Spotlight: Health
With more people prioritising their health, this is a sector which is well franchised.
The health sector is a rewarding industry of which to be a part. With over 6 million Canadians aged 65 or older and numbers only looking set to increase, there is an increased need for services that provide in-home care for elderly people.
As well as care for ill and elderly clients, the market also includes companies who operate and distribute products such as healthy vending machines. With many health and beauty consumers interested in finding environmentally friendly product alternatives, there are also beauty and skincare sale franchises that may appeal to eco-focused franchisees.
According to the Canadian Imperial Bank of Commerce, Canadians spend around CA$33billion a year caring for elderly parents, making this sector a potentially lucrative one in which to invest. Franchisees can benefit from relatively low start-up costs (especially if they invest in mobile franchises, rather than brick and mortar premises) and a network of clients as well as working under the banner of a recognized brand. The health sector is people-focused and so customer service skills, word of mouth and referrals will all be vital for success in your market.
Comfort Keepers is an in-home care franchise that assists people with daily living activities and has a Canadian-based management team. Snack 4 Health is a vending machine business that was established in 1987 and ensures franchisees are able to access wholesale prices with their set-up support.
With a greater focus being placed on the importance of mental health and wellbeing, Achieve Wellness Spa helps guests relax and focus on self-care through a range of spa treatments with a business model which franchises can scale up to grow their business.
Health Industry Analysis
The health sector is driven by those with humanitarian interests and although there is certainly money to be made in this industry, franchisees will need to consider their motivation for starting a health business. The hours can be long and caring for elderly and ill people is not always an easy task - it will require a certain level of patience and excellent customer care and communication skills.
As more people look to prioritise mental health, well-being and self-care, this is an industry that has many franchising possibilities. Customers will be keen to ensure they receive care from reputable and well-regarded companies and so franchisees will benefit from the established brand name of a recognizable business.
Some franchisors will require qualifications in healthcare, with others expecting passionate and driven individuals to complete training before opening a health care franchise. For the right individual, there is no doubt that the health care sector is a rewarding sector in which to franchise.