More New Franchisees Are Riding the Silver Tsunami With Right at Home

Right at Home, the leading in-home senior care franchise, is looking to further expand its footprint in the growing senior care market. With 26 years of experience and more than 650 locations worldwide, Right at Home is one of the best investments for prospective franchisees in a booming industry that is only projected to grow more in the coming years.

Thousands of Americans are crossing the 65-year-old threshold every day, a phenomenon coined the “silver tsunami.” For the next few decades, millions of elderly people will be seeking alternative ways to age at home where they can maintain their independence, dignity and overall well-being for as long as possible.

Throughout some of the most challenging years in history amid the pandemic, Right at Home continued to attract new franchise owners and increase its overall system revenue year over year, proving that the brand is indeed an industry leader in an essential market.

Why Right at Home? Why Now?

The nation’s population is aging rapidly. By 2050, one out of every six Americans will be age 65 or older, outnumbering children for the first time in the nation’s history. Not only is the population aging, but the way people are choosing to age also is changing.

According to AARP, 77% of adults over the age of 50 want to age and stay in their communities as long as possible. This shift toward aging in place, and away from nursing homes and assisted living facilities, points to the increased need for in-home care services. Aging at home, in a familiar and comfortable environment, can also have many social, psychological and financial benefits for seniors.

“On top of the growing trend to age in place, the past 18 months have exposed just how vulnerable the elderly population is in nursing homes and assisted living facilities,” said Jen Chaney, Right at Home’s vice president of franchise development. “There is a huge demand for high-quality and professional care from the comfort of home.”

Right at Home has been building on this trend for over 25 years, establishing hundreds of locations worldwide, providing seniors and adults with disabilities the opportunity to live independently. With growing brand recognition and an experienced system, Right at Home is perfectly positioned to continue leading what is expected to be a $225 billion market by 2024.

How Much Does a Right at Home Franchise Cost?

The total initial investment for a Right at Home franchise ranges from $82,000 to $150,800, as disclosed in Right at Home’s 2021 Franchise Disclosure Document, which outlines the franchise system’s costs and performance. This initial investment includes a franchise fee of $49,500. The investment covers costs such as real estate, furniture, technology, equipment, training, marketing and signage. There is also a 5% quarterly royalty fee, a 1%–2% local advertising fee, and a 2% brand marketing and promotion fee due on an ongoing basis.

Most Right at Home prospective franchisees have previous management experience, and all must have at least $150,000 in liquid assets available to invest into the business. The brand also advises potential franchisees to have enough savings or other income to cover living expenses during the startup phase of the business.

How Much Can You Make as a Right at Home Franchisee?

Perhaps just as important as the cost to open a franchise is the anticipated return on investment. Forty-two percent of all Right at Home franchises exceeded $1 million in net revenue in 2020. The average among all Right at Home franchise locations was just over $1.2 million in net revenue, and for those open for five years or more, it was $1,392,121.*

More important for prospective franchisees, though, are the numbers for newer Right at Home franchise owners. For those open for one year or more, the average revenue was $1,277,354.93. Thirty-six percent of this group met or exceeded this average.

“2020 really showed just how solid and resilient the Right at Home business model is,” said Chaney. “Our franchisees, both new and old, continued to grow throughout the year, and we opened 17 new locations to expand our system of care even further.”

Right at Home is ready to partner with entrepreneurs and experienced professionals who are looking to make a difference in their communities and apply their skills in a meaningful way.

For information on Right at Home, visit www.rightathomefranchise.com.

*For more information about how much franchisees can make, please see the Item 19 in the 2021 Franchise Disclosure Document.