Caremark is a franchised business that’s showing sustained growth through COVID-19
During the global economic turbulence of the coronavirus pandemic, Caremark’s care at home franchise network has reported record growth of over 20 per cent in 2020 and onward through 2021.
So why specifically have Caremark franchisees shown this sustained growth?
Better equipped
Feedback from franchisees indicates in-house training, ongoing support and expert guidance as a major factor.
In particular, they speak of the accessibility to the experience and knowledge within the head office support team and field-based Regional Support Managers, enabling them to be better equipped to adapt to the changing needs of the social care sector in these unprecedented times.
One such franchisee, Charles Folkes, Managing Director of Caremark (Redcar & Cleveland), spoke of this subject recently: “I found the ongoing
support and communication from the team at head office and my Regional Support Manager particularly useful during the uncertainty of Brexit and currently COVID-19.”
He also spoke of: “a constant stream of guidance and advice helping to alleviate my obvious anxiety during this period of economic turbulence.”
He added: “The local authority’s communication and support has also been exemplary during the current pandemic.”
Right choice
Charles went on to talk of the sector itself and his reason for investing in his own resilient Caremark franchise: “I researched various sectors before reaching the decision that domiciliary care was the right choice.
“Then I decided upon the sustainability and straightforward business model Caremark offered, which allowed for positive cash flow and personal reward.”
He went on to say how he was looking for: “a franchisor with good ethics, integrity and with the potential for growth.”
Increased demand
There are several other factors to consider as the reason behind this sustained growth.
Firstly, the population has grown and will continue to do so in the UK due to ongoing innovations in science resulting in better medicines, better nutrition and the benefits of regular exercise, which are all contributing to helping people live longer.
As our population grows, there is an increased demand from more and more people needing high quality, well-led care and with clients looking at care at home support as a viable alternative to residential care due to COVID-19, it only strengthens the position of the domiciliary care sector further, allowing for increased future growth. Something else to consider is the size of the care at home market.
In total, including domiciliary care, supported living and other home-based social care, the UK market is valued at £9.5 billion per annum, with this ever-growing market estimated to grow 5.4 per cent per annum.
For the over-65 age group, specifically, the care-at-home marketplace is predicted to grow between 15 per cent and 40 per cent by 2030.
The sector is thriving and as demand is estimated to grow, local council spending on adult social care will continually be required to adapt to these levels of need, as well as significant growth in the privately funded sector.
One final observation is that Caremark franchisees offer care across the board, from local authority to private clients, from the young to older people.
The service portfolio is extensive and unrestrictive, meaning the freedom to deliver high-quality care and support to whoever needs it, offers yet another reason for business growth and resilience.
At a glance
Established:
2005
Number of franchised outlets:
110
Location of units:
UK, India, Ireland and Malta
Investment range:
up to £115,000
Minimum required capital:
£35,000
Contact:
01903 266392 Franchise@caremarklimited.co.uk
