Though the coronavirus has brought about a lot of negative impact when it comes to most economies, the virus seems to have brought about a boom in the franchise. Coronavirus has brought down markets all over the nation and 20% of people in the U.S. have lost their job. 27% of individuals said a member of their household had reduced wages or received fewer working hours. The last full week of March has had 6.6 million initial unemployment insurance claims— setting a record. Tens of millions of Americans have filed for unemployment.
Even in these times, however, there are still a lot of investors and entrepreneurs trying to find ways to succeed. Franchising and buying new franchises is still huge right now, and many are looking to home health care. Home health care is what some refer to as “recession-proof”, because of the growth of the aging population leads to a higher demand for care. The growing population isn’t slowing down any time soon, which means more of the elderly to take care of.
One home-based care franchise company actually hit a record high in new franchise agreements, seeing a 200% increase in new franchise agreements compared to last year. The company had 400 locations and 25 new locations since then. There are a lot of people interested in buying into the home care system, and the coronavirus concerns do show increased need and demand for home care.
For people recovering from COVID-19, home health care can be completely essential. Home care professionals show how crucial the industry is, providing life-saving services to people who are too vulnerable to leave their home. There is often a lack of public awareness about what home care is and who can benefit from it, but coronavirus has brought about the question. How do I stay safe in my home? How can I receive health care services from the comforts of my home?
Home care includes huge ranges of medical and personal services for anyone who needs assistance at the home. By providing this level of safety, with experience and equipment just like hospitals, the demand for home care grows. This is a time where home care grows dramatically because of current events. Families might begin seeking out additional home care maintaining independent living at home after coronavirus spreads in nursing homes and other facilities, leading to 30,000 coronavirus deaths in the United States.
The option of home care, which has since been one of the more unknown types of health care, may start to surface as one of the better choices for families trying to figure out what to do in response. Some families, however, refuse home visits from nurses or therapists because of fears of what those nurses could bring. There are clear benefits that home care can bring, but it also brings the fear of allowing health care providers into their homes. Either way, home care demand is rising with the times and the franchise will definitely grow to one of the mainstream forms of health care. Whether their high presence will still exist after the pandemic passes, will be seen.