More Older Americans Living Alone, Home Service Franchises are Growing

Aging in place has been increasing in popularity in recent years. As older Americans evaluate their futures, many are increasingly interested in staying in their homes as long as possible. Not only is it more comfortable, but it allows for increased independence for a longer period of time.

However, as aging Americans drive this trend, there are concerns about their wellness.

“Americans over the age of 50 who live alone are among the nation’s fastest-growing cohorts, according to The New York Times, but that raises concerns about cost-of-living issues and demographically out-of-sync housing inventory,” Jake Perez wrote for LinkedIn News. “Complicating matters, a growing number — one in six of those who are 55 and older — don't have children, which highlights a looming long-term care crisis over the next few decades.”

Without close family members to help, many of these people need additional support from outside resources. Enter home services franchises.

For franchises that offer things like handyman services, housekeeping, plumbing, heating, pest control, organization and more, this trend presents a great growth opportunity. The home services market is already hot, and this is just another opportunity.