As measured by revenue, the market size of the healthcare industry in Australia was a massive $203.2 bn in 2023.
While this means a lot of people are benefitting from top-quality health services within the Lucky Country, it also highlights the potential for businesses who operate within this sector to make a lucrative profit.
So, if you have ever wanted to run a business that focuses on improving a particular aspect of a person’s overall health and well-being, now is as good a time as any.
While you can do this through a start-up venture, there are certain advantages to taking up a franchise opportunity. Not least, you will be buying into a successful business model that has proven to work elsewhere in the country.
But which sectors of the health services industry provide the best franchise opportunities for you to embrace?
In this article, we’ll outline five options you might want to consider.
Why buy a franchise?
It is worth pointing out that just because you buy into an established franchise model, it is no guarantee that your business will be a major success. It will still take a lot of hard work, excellent planning, and savvy decision-making to make this happen.
That said, there are some clear advantages to buying into a franchise model. One of the main ones is not having to navigate the potentially difficult and stressful ‘start-up’ stage, where you conduct feasibility studies, write a business plan and test a product or service before officially launching.
You can also benefit from instant brand recognition and trust (depending on the company that is offering the franchise opportunity), access to a comprehensive training programme, increased purchasing power and assistance with marketing and advertising.
In essence, the franchise model gives you a support network you wouldn’t otherwise have if you were going it alone.
Franchise Opportunities
So, with the health services industry providing good potential for launching a successful business, which particular sectors are the best avenues to pursue when looking for franchise opportunities?
Here are some excellent options to consider:
- Disability
Did you know that the National Disability Insurance Scheme (NDIS) supports over 500,000 Australians with disabilities, providing them with the services they need to live more independently? With the NDIS continually expanding, there is a growing demand for services that cater to a variety of needs, including personal care, therapy, and support coordination.
Franchisees in this sector can provide essential services that help improve the quality of life for individuals with disabilities. Whether it’s through offering independent living solutions, assistive technologies, or specialized therapy services, this sector provides a meaningful and profitable business opportunity. Companies like United for Care offer independent accommodation and support services, which is a great example of how you can make a significant impact in this field.
- Personal Care
Personal care services are in high demand, so this is a good starting point for those open to any franchise opportunity.
Many people across all walks of life need help with things like washing their hands, brushing their teeth, applying their skincare routine, cutting their nails, toenails, or hair, shaving, and getting dressed. Others even need help getting up or preparing for bed.
For those who need them, these essential services must be delivered compassionately and professionally, so as to help them maintain their dignity. The more your franchise gets known for delivering this, the more likely it will be to succeed.
- Meal preparation
Many Australians either lack the skill set or capacity to cook for themselves. For this reason, meal preparation is a potentially lucrative area for you to explore.
A number of companies within the food preparation/delivery industry offer people the opportunity to have fresh, nutritious, ready-made meals delivered to their door.
Several franchise opportunities exist within this sector, some of which are niche orientated to cater to vegetarians, vegans or those with a specific food intolerance, such as gluten or dairy.
- Household chores
Like meal preparation, many people might find it difficult to complete household chores like cleaning, dusting, vacuuming, laundry, rubbish removal and gardening.
As a franchise business, this is a vital function because if it is not completed, there is an increased risk of illness from the spreading of germs and the potential attraction of rodents and other pests.
If you do run a franchise operation based around household chores, try to do so in as environmentally friendly a way as possible.
- Physical Fitness
Although it is important to get regular exercise to maintain a good level of health and fitness, many people find it difficult to do so.
This can be due to several factors, including health issues, a lack of transportation, high perceive costs of gym membership, a desire not to feel aches and pains and over-riding feelings of self-consciousness.
However, an increasing number of fitness companies are now offering franchise opportunities for classes and training sessions that are specifically designed to different niches, such as women, older people and those with disabilities.
These classes can take many forms but can be invaluable ways to improve the health and overall wellness of many different people.