With this increased demand, the senior care franchise industry in Canada is also growing rapidly.
5 Key Trends in the Canadian Senior Care Franchise Industry
#1 – Aging in Place Initiatives
The goal of the “Aging in Place” plan is for seniors to stay in their homes and communities as long as possible. The program works to create “age-friendly” communities, support independent living, and contribute to policy decisions through research and development. This seven-year initiative is creating more demand for in-home senior services, which many franchises provide, including help with daily living activities (bathing, dressing, meal preparation) and healthcare management.
Additionally, Canadian provinces such as Ontario, British Columbia, and Quebec have various homecare funding programs meant to support seniors in their communities. Along with provincial programs, there are also federal programs that provide subsidies and financial assistance for in-home care services.
#2 – Shift in Family Dynamics & Caregiving Responsibilities
Historically, it was common for children to care for their aging parents. However, in modern times, the trend is to have smaller families and thus fewer children available to take on caregiving roles. This increases the reliance on external care services.
Additionally, it has become more prevalent for adult children to live far from their elderly parents. They’re often too busy with work and other commitments to provide full-time care. The increase in dual-income earners in Canadian households also provides the means for families to afford third-party care.
As this shift in family dynamics continues, senior care franchises are filling the gap by offering reliable, professional care for aging loved ones.
#3 – Technology Integration
Technological advancements have also made it more possible for seniors to continue living safely from home. A few examples include:
- Telehealth Services – Seniors can receive virtual medical consultations and check-ups from the comfort of their homes. Not only does this improve access to healthcare, but it also reduces the need for frequent hospital visits.
- Remote Monitoring Tools – These include wearable devices and home monitoring systems that will track seniors’ vital signs (e.g. heart rate, blood pressure) and alert caregivers of potential issues. Franchises can incorporate these tools in their services and offer families peace of mind regarding their loved ones.
- Smart Homes for Senior Care – Senior care franchises can integrate various smart home technologies such as smart lighting, automated medication dispensers, voice-activated systems, and more to help seniors maintain independence while safely living at home.
#4 – Sustainable & Green Senior Living
Franchises are implementing various efforts that align with the growing societal emphasis on sustainability. Here are a few examples:
- Green Building Practices – This includes investing in energy-efficient buildings (sustainable materials, solar panels, etc.), which not only reduces their environmental footprint, but it also improves the well-being of residents with better air quality and healthier environments.
- Organic & Health-Conscious Living – Franchises are also appealing to seniors and families who prioritize healthy living by offering organic meals, non-toxic cleaning supplies, and other natural living options.
- Waste Reduction Initiatives – Another way for franchises to reduce their environmental impact is through waste reduction programs such as recycling and composting. Such efforts are attractive features for potential clients.
#5 – Growth in Non-Medical Care Services
Along with traditional senior care services, there has also been a growth in non-medical care services such as:
- Companionship Services – As multi-generation living becomes less common, there is also a concern of isolation and loneliness among the aging population. This has paved the way for services that provide seniors with social interaction and emotional support such as regular visits, shared activities, accompaniment on errands, etc.
- Personal Assistance & Homemaking – In addition to various health services, some franchises will also offer non-medical services to help seniors maintain their independence. This includes personal assistance (bathing, grooming, dressing) and homemaking (cleaning, cooking, laundry).
- Transportation Services – Senior care franchises that offer transportation services can help seniors attend medical appointments, social activities, run errands, and more. Seniors who are unable to drive can continue an independent and active lifestyle with these vital services.
Looking to Buy a Senior Care Franchise in Canada?
Are you thinking about buying a franchise in Canada? As the demand for senior care services continues to increase, a senior care franchise is definitely worth considering. FranNet is here to help you make the right decision. Our expert franchise consultants will match you with the best franchise opportunity and guide you through the process from start to finish. Schedule your free consultation today to get started!