Did you know that the United States will need nearly 2 million new senior living units by 2040? With the final baby boomers set to turn 65 before 2030, demand for senior accommodations is rising steadily each year. This is creating a once-in-a-generation opportunity to get into the senior housing business.
“The U.S. assisted living facility market size was valued at USD 91.8 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 5.53% from 2023 to 2030,” according to a Grand View Research report on the U.S. assisted living facility market size, share, and trends. The report points to the Population Reference Bureau’s estimation that the number of Americans aged 65 and older will go from 52 million in 2018 to 95 million by 2060. The major factors propelling demand for more assisted senior living options include:
- Rising life expectancy
- Desire for companionship
- Desire for security
- A need for assistance with daily activities
When considering the desirability of a senior housing business as a potential franchisee, it’s important to know that seven out of 10 people require assisted living care in their lifetime. The decision to choose senior housing is one that families struggle with. There’s a strong desire for whole-person care that removes the angst from leaving a familiar home.
The Power of Built-in Name Recognition
“56% of assisted living facilities are chain-owned, including big companies like Brookdale Senior Living, Life Care Services and Genesis Healthcare,” according to a Consumer Affairs report. That means that independent facilities and properties are in the minority. Why does that matter for someone who is thinking of getting into this business?
As a first-time senior housing business owner, it can be challenging to structure your business to be competitive with chains. They have the expertise, experience, buying power, and reputation that enable them to provide quality settings that are attractive to potential residents and their families.
Opening a senior housing business under the Meraki Assisted Living banner as a franchisee can make your entry into this sector much smoother. Most importantly, you will become a part of Meraki’s longstanding, highly recognized commitment to prioritizing care and quality of life. This is so important when serving a generation that considers a person’s word to mean everything.
While the senior housing business is getting lots of attention from people hoping to “make a buck” in a rapidly growing industry, Meraki Assisted Living continues its commitment to offering the best living conditions and “golden years” experiences for residents. Meraki uses this same fervor for improving lives and communities when supporting its franchisees. Keep reading to learn why entering the senior housing business with Meraki Assisted Living is such an exceptional opportunity.
Meraki Assisted Living Has a Unique Senior Housing
Are rumors about the senior housing business market being oversaturated true? Almost. While it’s true that many people are rushing to provide senior services amid historical demand, Meraki’s unique business model buffers franchisees from this issue by focusing on:
- Comfortable residential homes
- Personalized services
- A holistic approach to care
Most of the brands and franchises taking up space in the market are actually home-health services and referral services. Unlike these service-based businesses, Meraki uses appreciable assets to help each franchise build value.
When you tie your senior housing business to the Meraki reputation, you’re enjoying the perks of established brand recognition using a name that’s spent years building credibility. When you follow our proven business model, you reduce your risk for encountering hiccups that commonly defeat independent business plans.
Exceptional Support for Your Senior Housing Business Location
The Meraki Assisted Living team cares for its franchise owners. In fact, “caring” is the lifeblood of our entire business model. From the first step, the Meraki team provides insights and tools to help franchisees build and operate their assisted living locations.
With location often being one of the make-or-break factors for any senior living facility, Meraki is committed to providing guidance on residential home selection and renovations to franchisees to help them break ground with the best footing possible. In addition to providing strategic guidance for selecting the best residential home possible, we’ll also help you select the right local broker.
When taking on construction or renovations, our team will help to ensure that you’re planning within all Meraki Assisted Living specifications and design requirements. We know the best setups and layouts for senior living because our founders have been trusted leaders in this industry for more than 20 years!
Comprehensive Training and Ongoing Support for Success in Senior Housing
Meraki Assisted Living is dedicated to setting up franchisees to provide the best care possible to their clients. That’s why we offer comprehensive pre-opening training to ensure that you feel confident about opening the door of your franchise to welcome its new residents! Our in-field support representatives will visit your site to make sure everything is in order.
Of course, we know that nobody can become an expert overnight just because they’ve been able to enjoy a smooth opening. We’ll help to make sure things continue to run smoothly by providing ongoing support that covers your marketing, finances, and operations. Our franchisees also get access to top-of-the-line technology resources and platforms that help them to streamline business operations tied to care plans, scheduling, managing communications, and so much more without missing a beat.
At Meraki, we also believe in a spirit of comradery. Once you’re part of the team, we provide our franchisees access to colleagues and fellow franchise owners sharing your commitment to building the country’s top assisted living provider!
If you’re passionate about running a business that holds a purpose, a senior housing business franchise through Meraki Assisted Living can allow you to turn your passion for people into a great opportunity! Contact us today to learn more!