Low risk ways to start a business: Care services

Type of business: Care services
Minimum investment: Ranges from £8,995 up to £32,000 + VAT

The opportunity:

The UK care sector is worth in excess of £25bn and, according to Age UK, there are now over 11 million people aged 65 and over. With the elderly population living longer and increasingly looking to maintain their independence, demand for homecare services is soaring.

What’s more, the number of older people with care needs is expected to rise by more than 60% in the next 20 years. In light of this demand, and with only minimum working capital needed, a care services franchise can offer a low-risk and fast-growth-potential business opportunity.

There are a number of established care franchises in the industry; some of the key players include SureCare, Heritage Healthcare, and Promedica24.

For those looking for a flexible business opportunity, SureCare provides expert home care, alongside services such as gardening and DIY. Promedica24 offers 24-hour expert live-in care services – be it home from hospital care, respite care or holiday relief – while Heritage Healthcare is focused on providing expert home care to those typically aged 65 and over.

While knowledge of the care industry and medical qualifications are beneficial to those looking to start a care franchise, the majority of care chains don’t require franchisees to have a background in care. Instead they look to take on franchisees who are passionate about providing a high quality of care, have good management abilities, and have the drive and motivation to grow a business.

With social impact at its core, starting a care franchise enables you to combine profit with purpose by making a difference to the lives of others.