UK’s ageing population is growing like never before. A rise in the number of elderly people comes with an increasing demand to accommodate their needs.
UK’s ageing population is growing like never before. A rise in the number of elderly people comes with an increasing demand to accommodate their needs. In addition, there are around 11 million disabled people living in the UK. One care franchise believes there has never been a better time to invest in the industry. Here, we break down the factors why you should consider investing in this niche sector.
UK’s ageing population
There are nearly 12 million people aged 65 and above in the UK, of which 5.4 million are aged 75 and above. An ageing population brings several challenges to the country, including the economy, public services and society – and now, innovative businesses can step up in to fill the gap. Elderly people are often face sickness and disability in old age and require additional help to go about their day. That’s why it is essential they are provided with care and mobility support to make day-to-day living a lot easier.
“The ageing population of the U.K is now older than at any point in history and with age generally comes different physical needs,” Daniel Griffiths, founder of Easy Living Mobility said. “By 2033, it’s suggested that the number of people over 65 will have increased by nearly 50%. There are currently around 3 million people aged over 80 years. This figure is also predicted to double by 2030 and should reach a staggering 8 million people by 2050. Here are around 11 million disabled people living in the UK and from this figure, almost 40% are between 19 and 59 years-of-age. It is thought to be this age group that are most likely to rely on disability aids, as living independently will be important to them.”
The mobility sector is an untapped market, meaning franchisees will unlikely face stiff competition from other companies. As the UK’s ageing population continues to rise, it is predicted that the demand for care and support within communities will increase, bringing forth a niche sector that franchises can have the opportunity to dive right into.
“We have lots of interest in many parts of the U.K already and do not see this slowing down anytime soon, with the sheer size of the target audience being either over 60 or registered disabled person,” Mr Griffiths said. “There has never been a better time to enter the market place, as it still sits as an infant market place. But will for sure explode into what will be the next biggest market place to come into retail.
“We have all see the huge growth taken place over the last few years by care companies as a whole, how many different care companies are there now, dozens I’m sure. We help with pieces of equipment to help people ‘live every moment’ they possible can is just as big!”
Fast-paced living and technology advancements
With a rise in fast-paced living, customers are increasingly looking for a variety of options when it comes to their care. More elderly people are living on their own and require a greater range of mobility equipment to suite them, and are now even turning to technology for added convenience into their lives.
“As demands grow year on year, we have found that in the earlier years we generally only sold mobility scooters,” Mr Griffiths explained. “This would normally be one mobility scooter to a customer and that was it, these days customers may buy one for the car that folds. A larger one for general ever day use and on top of this we do part exchange now too.”
“We build custom made power chairs just like that of the late Steven Hawkins,” he added. “Through smart technology, we can spec a chair to be fully controlled through technology no matter how the customer or carer needs it to be.”
Making a positive difference
Helping people improve their lives can be a very rewarding experience. Seeing your customers satisfied with the products and services you provide can give you added meaning and purpose into your work.
“The rewards and positive impact you get daily from the positive change impact that comes from the huge change we make in changing people’s lives, through supplying products and services!” Mr Griffiths said.
This article comes courtesy of Easy Living Mobility who have established itself as a market leading supplier of mobility aids, whilst developing our staff to be the best in the industry.