Getting the right number of employees for a senior care facility is important from both a budget and caregiving perspective. With that in mind, the ideal number of employees for assisted living franchises depends on factors like the size of the facility, the services provided, state regulations, and the needs of the residents. However, if you’d like to start a senior services franchise, it’s equally important to acknowledge the escalating demand for senior care services, which shows no signs of slowing down.
To provide some perspective, the World Health Organization (WHO) predicts that the global population aged 60 years and above will nearly double from 12% in 2015 to 22% by 2050. This demographic shift highlights the crucial significance of delivering quality senior care. As a result, franchise owners are compelled to ensure they have enough employees to effectively meet the growing demand.
So, how many people are involved in a franchise offering senior care services, and what roles do they all play? This blog will explore the factors that influence staffing requirements in assisted living franchises, providing valuable insights to help you maximize the potential of this thriving industry.
Who Is Involved in Franchising an Assisted Living Facility?
Although specific staff positions will vary based on the unique needs of your facility, here’s a list of common staff members:
- Franchisor: The franchisor establishes the franchise system, providing initial training and ongoing support to franchisees. They focus on brand development and franchise-wide improvements, ensuring the success and growth of the assisted living franchise as a whole.
- Franchisee: The role of franchisor and franchisee differ in that the franchisee is responsible for managing staff, leading marketing efforts, and handling financials. Franchisors expect franchisees to uphold the established standards and guidelines they provide.
- Administrator: An administrator is responsible for implementing the franchisee’s vision and objectives within the framework set by the franchise agreement. They also oversee day-to-day operational aspects, resident care, and regulatory compliance.
- Registered Nurse (RN) or Licensed Vocational Nurse (LVN): Depending on the needs of the residents, you may require one or more RNs or LVNs to provide medical oversight, administer medications, and handle healthcare-related tasks.
- Caregivers: A senior services franchise should hire sufficient caregivers to provide direct care and assistance to residents, like bathing, grooming, laundry, food shopping, transportation, and more. Staffing ratios will vary depending on your specific state regulations.
- Certified Nursing Assistants (CNAs): CNAs also provide direct care and assistance to residents, including activities of daily living (ADLs). Their responsibilities go beyond a caregiver’s tasks, though, and include taking vital signs, assisting with medical procedures, providing basic medical care, and reporting residents’ conditions to nurses or other healthcare professionals.
- Medication Aides: Medication aides assist with medication administration under the supervision of licensed nurses, as allowed by state regulations.
- Dining Staff: A team of dining staff members, including cooks and dietary aides, will prepare and serve meals while adhering to specific dietary needs and regulations.
- Housekeeping and Maintenance Staff: Housekeeping personnel ensure cleanliness and hygiene in the facility, while maintenance staff address repairs and maintain the physical infrastructure.
- Activities Coordinator: An activities coordinator organizes engaging and meaningful activities for residents to promote socialization, recreation, and well-being. This role is crucial, as studies have shown that active social engagement and participation in recreational activities among older adults can reduce the risk of cognitive decline and improve overall quality of life.
- Administrative Staff: Administrative personnel handle tasks such as reception, billing, scheduling, and record-keeping to support the smooth functioning of the franchise.
Running an assisted living franchise requires a considerable workforce, leading to higher salary expenses. However, senior care franchises can generate substantial revenue, making it possible to hire the necessary number of employees without financial strain. You can also explore in-home care franchises, as those overhead costs are typically much lower.
How Much Do Senior Care Franchises Make?
A senior care franchise can make upwards of $1 million or more per year. For example, franchises under the FirstLight brand that have been operating for a minimum of 16 months achieved an average gross revenue surpassing $1 million. FirstLight is a senior care franchise that provides in-home care services to senior Americans who choose to age in the comfort of their own homes.
Another example: you can start a CarePatrol franchise for less than $100,000, and franchisees saw an average of 50% revenue growth in recent years. How does CarePatrol make money? These franchises have tapped into the senior home placement industry and make their profit through:
- Generating referral fees from senior care communities
- Charging service fees for placement services
- Providing consulting and advisory services for a fee
These various revenue streams allow Care Patrol to monetize their expertise in helping families find suitable senior care options.
How Big Is the Franchise Industry for Senior Services?
According to IBIS World, the market size of elderly and disabled services in 2022 reached $64.4 billion, with in-home services franchises accounting for $19.1 billion of that total. Furthermore, this industry has exhibited an average annual growth rate of 0.6% between 2017 and 2022, indicating a positive and steady expansion.
If you’re intrigued by the potential of senior services, explore Franchise.com’s comprehensive directory of senior services opportunities. You can explore various franchises, including their investment requirements, target markets, and experiences of their current franchisees. Start your journey today and browse our directories for your chance to make a meaningful impact in the care industry.
