Thinking about buying a franchise?
You may be an experienced businessperson, or you may be thinking about taking the leap to start your own business. Either way, it’s important to do your homework when you are weighing up the opportunities. There are many questions that need to be answered before you commit to a new and exciting business. Your background, skills, experience, personality type, and location are all important factors. In addition:
Do the numbers Stack Up?
Is the franchise model appealing?
Is there a proven system in place?
Is the franchisor experienced and easy to communicate with?
Are there compliant manuals, policies and processes in place to support you?
Does the franchisor provide induction training and ongoing support?
Does the franchisor provide an online information portal to support your business?
Regardless of the opportunity, these questions form an important part of your due diligence. However, before you invest your valuable time, here is a question for you.
- What is the future growth potential for the industry sectors this business operates in?
If you were thinking about carrying out your due diligence before researching the answer to this question, we hope this turns your focus to the big picture first.
Our business is Simply Helping.
We provide in-home services for the Aged Care and Disability Sectors, both government and private funded.
Looking at just one of these sectors (Aged Care) in more detail, the answer to the growth potential question is resolved.
From a Government funded perspective this is a $20 Billion Total Addressable Market (TAM) opportunity, in addition to the self-funded TAM. The Aged Care federal government budget will grow to $25.6 Billion by 2023 of which Age Care Home Services represents 30% ($5.1 Billion). The current 2019-20 budget grew by 17% to $21.6 Billion.
The Australian Government Treasury’s 2015 Intergenerational Report states that the number of Australians aged 65 years and over is forecast to more than double over the next 40 years, increasing from around 3.6 million in 2014-15 to 8.9 million in 2054-55. The Report also forecasts that public expenditure on aged care is expected to double as a share of the economy by 2055. The Aged Care Financing Authority (ACFA) estimates that 76,000 new residential aged care places will be required by 2023-24 in order to meet demand. Add to this, the National Disability Insurance Scheme (NDIS) which has a federal budget of $15 Billion.
Now, consider the relationship between the Aged Care sector and the Disability sector:
The growth potential for these industry sectors is clear.
Simply Helping first began franchising by offering the following established locations as franchise opportunities:
- Gippsland South and West, Victoria.
- South West Victoria.
- Central Highlands and Djerriwarrh, Victoria.
- Geelong and Barwon, Victoria.
During the last five years, we have opened franchises in the following areas:
- Bayside Peninsula, Victoria.
- Inner and South Eastern Melbourne, Victoria.
- Eastern Melbourne, Victoria.
- Greater Eastern Melbourne, Victoria.
- North East Melbourne, Victoria.
- Goulburn Valley, Victoria.
- Illawarra, New South Wales.
- Lower North Perth, Western Australia.
- Sydney West New South Wales.
With plans to continue our expansion Australia wide, it’s an exciting time to own a Simply Helping franchise.
For information on how to become part of our well established and respected brand, contact our friendly head office team for a chat. Click to call 0432 798 059.
Or visit our franchising website at https://simplyhelpingfranchising.com.au/