Holly Springs, NC (PressExposure) February 23, 2009 -- In the midst of the deepening recession and with new data showing U.S. franchises may lose 10,000 locations and thousands of jobs, Senior Helpers, one of the leading providers of in-home care for seniors, offers an example of how to survive the economic downturn.
âWe know our markets, our services, our goals, and we embrace and empower the franchises to get us there,â says Peter Ross, CEO and founder of Senior Helpers. âWe are business people and we are in the business of in-home care meaning you have to perform everyday.â
And Senior Helpers is performing. The company reported a 50% growth in clients and franchises in 2008 despite the recession and its franchises are hiring more than 800 people across the country. Ross adds that while no business is recession proof, Senior Helpers is growing because of its ârecession adverseâ strategy. That includes:
â¢ Bold planning and investing to drive the brand. Franchise owners recently pooled their money to launch a nationwide media buy. Other marketing efforts are in the works. âWe think outside the box to make the phone ring,â adds Ross. â¢ Flexibility for franchise owners in running and promoting their business. âWe are better as a whole,â credits Ross. âThis is not only a corporate down company, we listen to the franchises.â â¢ Strategic vision. âYou must be a calculated risk taker to thrive right now,â says Ross.
Growth Strategy Matches Demographics of Recession
Senior Helpers growth strategy is driven by the convergence of two trends: an aging population and a recession driver labor pool. âAs large numbers of Americans get older and reach the point where they canât safely live on their own, family members want alternatives to nursing homes,â says Ross. âThe need to care for a loved one supersedes most uses for discretionary income.â
In addition, people needing work during the recession make it easier for franchise owners to hire qualified caregivers to meet the growing demand for service.
Two Examples of Successful Franchises:
Dave Goodwin opened a franchise in Yardley, Pennsylvania, just outside of Philadelphia about one year ago. Heâs recently hired a retired nurse to be a caregiver. âPeople are looking for extra money during these tough times and to find someone with that kind of experience is invaluable,â says Goodwin.
Half way across the country, Shawn and Angie Gilson of Iowa, City Iowa were looking to start their own business when his mother fell and broke her elbow. âAfter hearing so many similar stories, I knew this could be a valuable service and we opened in June,â says Gilson. âPeople want to help their loved ones.â
As a further example of the success of Senior Helpers business plan, the company was awarded four prominent spots in Entrepreneur Magazineâs prestigious Franchise 500 rankings, including: #7 and the only home care company in the Top Ten New Franchises for 2009 Ranking, #33 and the only home care company in the top 50 in the Fastest Growing for 2009 Ranking, #100 in the Global 200 Ranking, and #127 in the Franchise 500 Ranking.
âItâs a big accomplishment to be recognized in such a well respected magazine when weâve only been around a few years. It sends a message that in-home care is a strong, growth industry and Senior Helpers is the place to be
For more information about Senior Helpers visit: http://www.seniorhelpers.com
To view Entrepreneur Magazineâs 2008 Franchise 500 Rankings visit: http://www.entrepreneur.com/franchises/index.html