Curtis Battles, http://www.newcanaanadvisors.com, discusses the booming market of care for seniors and active adults.

{Time to read: 2:25 minutes} Over the last month, I’ve been having conversations with a colleague who acquired a home care assistant franchise in the lower Fairfield County area. With the population aging, baby boomers are becoming elder boomers. Many of them have disposable income and want to make sure they can stay in their homes.

Senior care is one of these fastest growing market segments because the population is aging so quickly. There are two primary dynamics involved:

1. People receiving care: If a loved one has been discharged from a hospital or rehabilitation center, oftentimes, that individual needs ongoing support during their recovery at home.

2. People supplying care: What type of assistance is required for a senior to maintain a safe/active lifestyle? How do you match the senior with the best care provider for their unique needs at home?

If you have a loved one in your life who is older, and who isn’t ready to leave their home, but needs some help, how do you find a professional to provide the level of care desired? What is the affordable solution?

A key element is determining what the needed and desired level of service is. For instance, if a senior is showing signs of dementia, they may need 24-7 care. On the other hand, there are those who just need a caretaker to stop in a couple of times a week to help with household chores and provide companionship. Ultimately, the goal is to improve the quality of life for the elder person. However, the alternative could mean moving into an assisted living facility, which can significantly diminish the independence for a lot of these folks and they may start to slide downhill quickly.

There is a broad spectrum of solutions available in today’s senior care industry. A number of providers such as Marriott and Hyatt that have created ‘high-end hotels’ for seniors. There are also companies such as Sunrise Senior Living and Atria which provide assisted living options. Finally, there are branded franchises such as Home Care Assistance which match seniors to professionals and companions in their area.

Are you involved in this growing business segment and looking to expand? I can help you with your business development strategy, as well as real estate needs. Give me a ring to start a discussion about your vision and how we can collaborate to expand your footprint in the senior care industry!

Curtis C. Battles

203-461-8711

ccbattles@newcanaanadvisors.com

www.newcanaanadvisors.com