To celebrate UK Savings Week this week (9th – 15th September), Prestige Nursing & Care are sharing the key reasons why using your savings to invest in a homecare franchise is a fantastic opportunity to capitalise on a thriving industry:
- Rapidly growing older population
In the UK, the demographic of people over 65 is expanding at an unprecedented rate. By 2024, over 20% of the population will be 65 or older1, surpassing the number of those under 15. This significant increase is projected to outpace the growth of the working population by more than five times. The life expectancy for women in the UK is projected to reach approximately 85.3 years by 2030. This reflects the broader trend of increasing life expectancy due to advancements in healthcare and improved living standards, and so the need for daily assistance due to age-related conditions is on the rise.
- Increasing dementia rates
Dementia is now the leading cause of disability in later life in the UK, surpassing cancer, cardiovascular diseases, and strokes. Currently, one in six individuals over 80 is affected by dementia. The number of people living with dementia in the UK, now at 850,000, is expected to exceed one million by 2025 and double to two million by 20512. Many people with dementia remain at home, relying on family and spouses, but they often require additional specialist care.
- Promoting independent living
Government policies are increasingly focused on promoting independent living, encouraging care to be provided at home. However, families may not always be available or capable of offering the necessary support so will need the additional support from homecare providers.
- Rising demand for services
The combination of an ageing population, increasing rates of dementia, and government initiatives to promote home care have led to a surge in demand for home care services. This growing need is placing a strain on public sector healthcare services, thereby increasing the demand for private care solutions. The home care market, currently valued at £9.5 billion, is set to grow significantly to meet this unprecedented demand.
- Heritage & Expertise
Prestige Nursing & Care has almost 80 years of experience as a compassionate specialist person-centred homecare provider. They are providing the opportunity to join them in improving health and overall well-being for people in need, and all in the place people love most: their own homes.
For more information about Prestige Nursing & Care franchising opportunities, visit Franchise – Prestige Nursing + Care (prestige-nursing.co.uk).
1How the population of England is projected to age
How the population of England is projected to age – Office for National Statistics (ons.gov.uk)
2Facts for the media about dementia
https://www.alzheimers.org.uk/about-us/news-and-media/facts-media
