A leading franchise information website reports that Senior Care Services franchisees earn an average pre-tax income of $123,000, which is the second highest among all franchise sectors. This is according to a survey of over 1700 senior care franchisees representing 18 brands. This is only surpassed by real estate, with a pre-tax income of $136,000. Since these income figures are average, some franchisees earn less while others earn far more. It’s not uncommon among the top senior care franchises to build gross revenues to a million dollars or more.
Recent changes to rules governing how you can use your 401k allows you to borrow against those funds up to one hundred thousand dollars if you have been affected by COVID-19. A visit to the IRS website tells us that the rules defining who is eligible are pretty broad, and you have three years to pay it back. This is an opportunity to invest in a business that can potentially pay you back in ways the stock market never could.
Owning an At Home Eldercare franchise has the potential to provide you with an income well into your retirement years. Due to the pandemic, the stock market has been on a virtual rollercoaster, completely divorced from the reality of the economy. In addition to the financial rewards offered by one of our franchises, there are also the rewards that come from helping others. One of the major changes caused by the Coronavirus is an increased demand for people to age in place, growing older in their own homes or living with family. You are providing a service to your community by removing anxiety surrounding the care of loved ones and improving seniors’ quality of life. In addition, you will be providing employment for caregivers and others.
You have to ask yourself some important questions. Am I ready to own my own business? Is Senior Care the right type of business for me? How do I get started?
You have to answer the first two questions yourself, but we can help you with the third. Find out more on our franchise contact page or call us at 844-358-4311.