As American families become less interconnected and
interdependent, their primary challenge is providing the basics
necessary to keep their elderly relatives at home.
"Eighty-eight percent of [seniors] say they want to stay at
home as long as possible," says Firman. As long as they have
access to basic services, home also tends to be where the elderly
are healthiest and lead the highest quality of life.
Paul Hogan witnessed this firsthand when his 88-year-old
grandmother, who was living alone, became so weak she couldn't
move from her chair to her bed. She was not expected to live to the
end of the year. Paul's mother started providing basic
nonmedical care, and his grandmother lived 11 more years, almost
reaching 100 before passing away. "I saw firsthand what basic
services, such as companionship, meal preparation, light
housekeeping, errands, incidental transportation and medication
reminders, can do for the elderly," he says. "Those
things have a very powerful effect on an elderly person."
Senior-care franchises are being called upon to provide these
basic necessities. Companies like Home Instead and Comfort Keepers
have noticed that companionship, the most basic of services, is
overwhelmingly in demand. Paul says companionship accounts for
about 75 percent of what Home Instead provides. Jerry Clum has
noticed the same need among the 8,000 clients Comfort Keepers
serves. "On a national basis, companionship is the number-one
service," he says. "About 40 percent of the hours that we
bill out nationally are for companionship." Following closely
behind, says Jerry, is a demand for housekeeping, meal preparation
and transportation.
A Ripe Opportunity
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Jim Woolford was one of 91 franchisees to open a Comfort Keepers
in 2003. He and his wife, Pamela, were inspired after searching for
in-home care agencies to provide help for his mother. Through their
research, they discovered a lack of quality agencies in their home
state of Washington. "We felt there was a lot of need for it
out here and a lot of potential, and we were right," says Jim,
46.
Starting the franchise in February 2003 with $32,000, Jim ran
part of the office out of his home and the other part from an
executive suite. A retired naval officer, he had no previous
franchise or in-home care experience; but with hard work and
support from some of the other Comfort Keepers franchisees, he got
it off the ground. A key piece of advice came from the corporate
offices: Hire adequate staff to allow for growth. In the beginning,
he was trying to do all the work himself. "Once we [brought on
additional staff], it relieved me of administrative
responsibilities, and it allowed me to do more marketing and
[meeting] with the agencies that provide care for the seniors in
our industry," he says. "Since then, it has just been
really busy. It's been exploding." Currently, he serves
approximately 40 clients and employs 55 caregivers, although the
numbers change constantly. Jim offers his own advice: Be
passionate. "[Potential clients] have to see in your eyes and
hear in your voice that you are there to take care of mom and
dad," he says.
Jim focuses on reaching 55- to 60-year-old baby boomers whose
schedules don't allow them to take care of parents in their
80s. And even with 55 employees, he continues to invest a lot of
his time and money in the franchise. Eighty-hour workweeks
aren't abnormal, and even now, Jim says, he has about $75,000
tied up in the franchise.
But the payoff is worth it. The Woolfords' 2003 sales
totaled $325,000, and Jim projects 2004 sales at $1.1 million. More
than just the financial payoff, the emotional rewards are what
truly get him through each day. "When we have the opportunity
to bring [clients] home from rehab or a nursing home, and when they
walk in the house and their faces light up, it's like thank
you, thank you, thank you," says Jim. "What's that
worth? It's great."
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