Is there a better way to make a return on your investment of time, emotion, energy and capital?
Homecare has proven to be a recession proof sector and there is a clear need for more care provision across the country. CQC states in their 2022 state of care report that in the first 3 months of 2022, 2.2 million hours of homecare could not be delivered because of insufficient workforce capacity.
The NHS Confederation highlighted that only 4 in 10 patients were able to leave hospital when they were ready to. They said that at that point there were almost 13,000 patients a day who spent more time in hospital than needed. There are thousands of people that are able to live at home with support, but without a suitable care plan in place they can’t be discharged from hospital to return home.
The population aged 65+ is growing exponentially. From 11.8m over 65’s in 2016, to 17.7m in 2041, this huge shift means that demand for care, support and companionship in the home will continue to soar.
This brings both opportunities and challenges. The 65+ group is projected to grow more than 5 times faster than the working age population, putting pressure on companies to compete for the supply of care professionals.
At GoodOaks, our focus on quality care to private clients, the support we provide our care teams, and our talent acquisition and retention strategies puts us in a strong position to continue to thrive in this growing sector.
And growing it is: LaingBuisson’s estimated value of privately purchased homecare in England for 2018-19 was almost £1.5 billion – an increase of 6% from 2016-17.
This rises to 34% of men and 42% of women at ages 85 years and over – and the size of this group is set to double by 2024, and treble by 2066.
There is a gap of between 8%-23% between the need for help with daily living, and those who actually receive it, varying by income bracket.
Source: Population estimates, Principal population projections, 2016-based, ONS | Graph Source: NHS England and Ipsos MORI, GP Patient Survey
With hard work, dedication, a supportive team behind you and by following the proven model. It won’t happen overnight but with a plan in place, a positive attitude and the drive to succeed you can start making a profit in year one.
We’re all about over-delivering on expectations, and going the extra mile with our unique, partnership-led care model that puts clients and their families firmly in the driving seat.
“I decided to set up my own homecare business after caring for my mother in law at home. Seeing and understanding the positive impact that being cared for in your own home can have, was what drove my passion to care into a business.”
Fiza Bukhari
Flight Attendant turned Care Entrepreneur
