22nd December 2020
Caremark: A franchised business network showing sustained growth through COVID19, why?
During the global economic turbulence of the Coronavirus Pandemic, the Caremark domiciliary franchise network has shown record growth of over 20% in 2020.
There are a number of 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 in-home care and support as a viable alternative to residential care due to COVID19, it only strengthens the position of the domiciliary care sector further, allowing for more and more future growth.
But why have specifically Caremark franchisees shown this sustained growth? Feedback from franchisees indicates in-house training, ongoing support and expert guidance being a major factor. Also, they speak of the experience and knowledge in the support structure, enabling them to be better equipped to adapt to the changing needs of the healthcare sector in these unprecedented times.
One of these such franchisees, 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 a Regional Support Manager particularly useful recently 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”
Charles went onto 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 cashflow and personal reward”. He went onto say how he was looking for: “a franchisee with good ethics, integrity and with the potential for growth”.
Another factor for consideration, even before the pandemic, is that the sector was thriving already, as between 2017 to 2018, over £17.7 billion was spent on adult social care by local councils in the United Kingdom. As demand grows, local council spending on adult social care will continually be required to adapt to these levels of need. Astonishingly, it is estimated the global healthcare market will be worth £7.7 trillion by 2022.
One final observation is that Caremark franchisees offer Care across the board, from Local Authority to Private clients, from the young to the elderly, the service portfolio is extensive and not restrictive, meaning the freedom to deliver high quality care and support to whoever needs it offers yet another reason for business growth and resilience.
To find out more about becoming part of this resilient business network, then please click here.
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