By Dr Gary Shetler, Founder and President of GMS Consultant LLC, a franchise consulting firm
The 9 reasons are:
1. On January 1, 2011- the first Baby Boomers turn age 65
2. People age 65+
YR 2000: 35 million
2004: 36 million
2010: 40 million
2020: 50 million
3. Every 70 seconds someone is diagnosed with Alzheimer’s
4. Life expectancy; 65+ 18.6 = 83.6 (19.9 for females; 17.2 for males)
5. About 30% (11.3 million) of non-institutionalized seniors 65 or older live
alone in the United States
6. Functional Limitations- in 2007, 42% of people age 65+ reported a functional limitation
ADL = Activity of Daily Living; defined as difficulty in bathing, dressing, eating, getting in/out of chairs, walking, or using the toilet
IADL = Instrumental Activity of Daily Living; defined as difficulty using the telephone, light housework, heavy housework, meal preparation, shopping, or managing money.
7. In 2007, about 12.9 million million age 65+ were discharged from short stay hospitals.
8. Between 2000 and 2020, total expenditures for older adults will roughly double ( between 2000 and 2040, they will triple). Key message: government programs don’t have enough money over the long term to sustain complete coverage for long term care.
9. According to the U>S> Administration on Aging, in 2005 there were 230,000 complaints concerning nursing facility residents’ care, quality of life problems, and residents’ rights.
Senior and home care type franchises have considerable differences as to the types of care they provide, training and business model, fees, advertising, etc.
We at GMS Consultant presently represent about 16 different franchises. Because of our relationships and knowledge of each, we can help introduce you to the ones that most closely match your background, personality, personal and financial goals and availability.