Looking to Enter the Healthcare Sector? Invest in Home Care Services Business
Home care services in India are an unexplored market. India having the second largest population in the world also has a huge aged population. And, during these times of COVID-19, people are looking for home care services for these aged group and other age groups suffering from chronic ailments.
Why is home care service a good opportunity?
Few points as to why you can consider home care services:
- 100 million of the Indian population is above 60 years. This population is projected to grow up to 300 million by 2050.
- The aged population with chronic ailments is almost about 50 percent of the population.
- This market is a new one. It is a fragmented market with a few disorganised players. Hence, less competition.
- Opportunity to build a high standard brand by providing good quality care services.
- Current market in this sector is about 4.75 billion and it is estimated to grow up to 75 billion in the next 20 years.
- It’s a profitable business with huge growth potential.
- Get satisfaction and priceless rewards for contributing to a philanthropic initiative.
Caremark International: A Leading Home Care Brand
Caremark International is a leading home care brand in the UK that provides care and support services to those who need them. It’s a 15-year-old firm with over 125 offices in the UK and abroad. Its vision is to provide quality care services that are affordable as well as available for all ages.
It was started in 2005 and therefore has experience in the industry for over 15 years. Caremark International is a leading brand in the segment of home care services. It has an award-winning network of franchisees across the UK and beyond. It provides the highest levels of care services in over 125 regions in the UK, Ireland, and an outstanding business opportunity in a major growth market.
What Caremark has to offer in India?
Caremark is looking forward to providing its services all over India. It currently has a tried market in Cochin in India.
The benefits and rewards it has to offer the franchises are:
- Once in a lifetime investment opportunity.
- It’s a proven business model since it has been operating in the UK for 15 years. The same model with few changes has been brought to India and tested in Cochin.
- There’s on-going support with regard to training and recruiting the staff (caregivers as well as other staff).
- The market for this segment is huge because of the Indian population.
- You can make a difference in your area by choosing to franchise with Caremark.
- Caremark is an internationally trusted brand. Therefore, working with it is easier.
- There is no requirement of any qualification or medical background to partner with Caremark.
- Comprehensive training is provided to the partner in India as well as in the UK.
- Caremark gives extensive training to the partners. Two-week training in India in its Cochin branch is given. In the case of master franchising 4-week training, 2 weeks in India, and 2 weeks in the UK are given. The training includes on how to train the staff. All the training material is provided. The training is an on-going one. It is updated and in line with the changes in legislation or market.
- Exclusive territorial rights could be obtained in case of master franchising.
- You can appoint sub-franchisees in case of master or area franchising. Training to the sub-franchisees is the responsibility of the master franchisee. Caremark would give them help and support in doing so.
Caremark has a special revenue system. The franchisee charges the clients who can afford to pay and the franchisee gets the profit. But Caremark will use 100% of its profits in India to serve people who cannot afford to pay. It’s a very social approach, philanthropic in nature.
What is Caremark looking for in a Partner?
Caremark is looking for partners who are excited to own a management franchise with a philanthropic mission. They have to genuinely be passionate about delivering excellence in care services. They have to be committed to the operations of the Caremark business system.
Few personal qualities that Caremark looks for in a partner are:
- Passionate about work
- Follows Caremark vision as own
- Feel the care for citizens
Caremark gives the licensing rights to the partner. It is ready to franchise is any of the franchising models from master franchising, unit franchising to the area, or multi-unit franchising. It aims at covering the whole of India. It sees a potential of 1000 Caremark offices in India. It is looking for the right person who can share the vision Caremark has and have a passion.
Edited By: Vaishnavi Gupta