Young Entrepreneur Is Transforming Senior Care with Modern Approaches with Options for Senior America

After graduating from Wharton Business School, Radhik Patel worked in private equity, initially in real estate and later in healthcare. His parents’ involvement in franchising piqued his interest and ultimately led to his acquisition of Options for Senior America. 

Patel recently appeared on the “Meet the Zor” podcast, where he shared the remarkable story of his franchising journey with 1851 Franchise Founder and Publisher Nick Powills.

“I wanted to do something impactful at scale, so I launched a search fund. After a couple of years, I closed on this opportunity with Options for Senior America,” said Patel. “Two retiring owners presented a great opportunity for me to come in and do something I’m passionate about at scale.”

Taking the helm as co-CEO, Patel aims to revolutionize the franchise model of Options for Senior America. The company, which has been in business for over 35 years with 16 franchises, is at an inflection point. Patel and his partner see immense potential to scale the business by focusing on their core competency — 24/7 live-in care. They are also exploring innovative models such as semi-absentee ownership and high-value long-term care cases, with an average case value exceeding $50,000 over six months.

Patel has faced challenges due to his youth in a traditionally older industry. However, he views this as a strength, enabling him to bring fresh perspectives and innovative ideas. 

“Our inexperience in the franchise world can play to our strength because we’re not just looking at putting out another franchise offering the same old personal care companionship services,” Patel said. “We want to think about how we can take it one step further.”

His vision includes integrating holistic wellness into their services and leveraging international workforce development to address staffing challenges, while offering affordable services to seniors.

Under Patel’s leadership, Options for Senior America is also strengthening its franchisee support system. The company provides comprehensive training and unlimited support, ensuring franchisees feel like an extension of the corporate family. Patel’s approach emphasizes operational excellence and robust support, setting a strong foundation for future growth. He is confident that with the right support, Options for Senior America can expand to 200-300 units, positioning itself as a leader in the senior care franchise space.

A transcript of Patel’s interview with Powills appears below. It has been edited for clarity, brevity and style. 

Nick Powills: How did you accidentally fall into franchising?

Radhik Patel: A little bit about how I got here today — very unconventional. I know a lot of people start and work their way up in the franchise world, but I kind of fell into it. My background is in private equity. I went to the Wharton Business School for my undergraduate studies. Since then, I’ve worked in different realms of private equity. I first started in real estate, then transitioned into healthcare private equity. My folks were small business owners and franchisees of different QSR [quick-service restaurant] brands, so I was always interested in the franchise world. 

I wanted to do something impactful at scale, so I launched a search fund. After a couple of years, I closed on this opportunity with Options for Senior America. Two retiring owners presented a great opportunity for me to come in and do something I’m passionate about at scale. I’ve been in this position for about five months now, and I’m deep into the waters, attending different brokerage groups and conferences and cultivating consultant relationships. I’m super excited to be part of it.

Powills: When evaluating this brand, what’s the big, audacious goal you want to achieve?

Patel: Anytime you’re making an investment in a business, you’re thinking about your returns and end goals. With Options for Senior America, we believe it’s at an inflection point. We have 16 franchises and 13 franchise owners. We have the foundation for success — a brand that’s been in business for over 35 years, a strong Item 19 and happy candidates with our support. The old owners focused on service lines like 24/7 live-in care, our core competency in the long-term care private pay market. 

We believe in building a semi-absentee model by focusing on high-value cases. Our average case value for long-term care cases is over $50,000 over six months, with strong recurring revenue and profit margins. We aim to create a strong franchise model. With over 10 corporate units we own and operate, we test innovations at the corporate level before rolling them out to franchises. We’re exploring bringing caregivers from different countries to the U.S. through various visas and working with workforce development companies to solve staffing issues in the senior care space. We have a lot up our sleeves to ensure franchisee success.

Powills: Have you faced pushback for being young and having big visions?

Patel: Most certainly. Even as recently as a couple of weeks ago at FranServe, being one of the youngest in the room and leading franchise development while being an equity owner, there’s pushback. But in the senior care space, the fundamentals are strong. The demographics are favorable for the next two to three decades. Our average care recipient is 75 years old. We believe there’s room for us to innovate our business model, and our youth and inexperience in franchising can be strengths. We’re not just putting out another franchise offering the same services. We’re thinking about business model innovation, whether it’s becoming a premium player or a cost-effective option. 

My partner and I come from different backgrounds — mine in private equity and his in business operations and development. Our combined experiences allow us to aim for significant growth over a compressed period.

Powills: Do you have a plan to appeal to the decision-makers?

Patel: Absolutely, Nick. Our customers are the clients paying for the service for their loved ones. We’re testing holistic wellness as part of our services, offering activities proven to slow the progression of conditions like dementia and Parkinson’s. This appeals to those in their 40s paying for the service for their loved ones. We aim to cater to that population while recognizing the end consumer is the care recipient. It’s a great point you make.

Powills: Switching gears to broker networks, how do you ensure candidates are matched with the right business opportunities, given the incentives for brokers to push higher-commission brands?

Patel: That’s a valid concern. Everyone is driven by incentives. Higher commission brick-and-mortar franchises can be more attractive to brokers. We’re focusing on organic candidate sourcing, going directly to potential candidates. We’re diligent about vetting candidates. Our founder and I participate in intro calls, FDD [Franchise Disclosure Document] reviews, and Discovery Day. By Discovery Day, we usually know if a candidate is a good fit. We aim to be transparent. We’re privately owned, so we grow alongside our partners. We’re selective in the process, ensuring we bring on candidates who will succeed within our system.

Powills: Let’s say a candidate is watching. They’re betting on you, not just the brand. What else should they know about the franchise opportunity?

Patel: One unique aspect is our support and training program. We serve the entire state of Maryland from our corporate office, so we have real experience in home care. Our training and support are truly unlimited. During training, candidates see inquiries, hiring, and onboarding in real-time. Our corporate staff is available to all candidates, both business and after hours. We’re committed to their success. With so many home care and senior care brands out there, what sets us apart is the support when it matters most. We help ambitious business owners grow quickly and achieve their goals.

To watch the full interview, click here.

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