Growing industries offer the most rewarding investment opportunities. Healthcare is an integral aspect of human life, and demand for healthcare services continues to rise. The average American spends about $12,530 annually on healthcare, and national expenditure is projected to grow from about $4.1 trillion in 2020 to more than $6.2 trillion by 2028.
If you’re considering an investment opportunity in healthcare, check out this comprehensive guide on why you should consider investing in healthcare. You’ll also learn about three easy and profitable healthcare niches ripe for investment: massage therapy, home healthcare, and physical therapy.
The latest report by the U.S. Bureau of Labor Statistics projects that the healthcare industry will create about 2.6 million jobs within the next decade. This figure is a reassuring indicator of the industry's growth – it also reflects the growing demand for healthcare services, which opens many opportunities for entrepreneurs to meet and cash in on the growing demand.
Other factors and trends that support this industry's projected growth include:
Overall, the most notable benefit of investing in healthcare now is the high likelihood of generating good returns on your investment. It is also worth noting that healthcare investments involve fewer red tape than you may presume.
Massage therapy is a scientifically backed approach to manipulating the body's soft tissues to help with relaxation and healing. It is administered to help treat and manage mental conditions such as stress and physical conditions such as chronic pain. The massage therapy industry is currently valued at more than $16 billion.
Some of the most popular massage therapy franchises include:
Be sure to conduct your own thorough research on your chosen franchise concept to understand their contracts' nature and financial claims. It is also worth noting that there are dozens of other franchise brands in this industry.
Setting up a massage therapy franchise could cost you between $339,000 and $571,000. Each concept should be able to provide you with their franchise disclosure document which provides prospective franchisees with information about the franchisor, the franchise system, and many also include an Item 19 so you can evaluate each concept's financial performance for existing owners. The numbers vary by a big margin when it comes to potential ROIs, but most massage therapy businesses in the U.S. earn more than $80,000 annually.
Home healthcare entails providing patients with personalized healthcare services at their homes. It encompasses a wide range of healthcare services. The home healthcare industry is currently valued at $264 billion and is expected to surpass $662 billion by 2027.
Some of the most popular home healthcare franchises include:
There are many other home healthcare franchises to consider. Don't forget to do your due diligence when choosing the ideal option for your investment needs and preferences.
The cost of setting up a home healthcare franchise varies considerably. Depending on various factors, startup costs can range from as little as $35,000 to more than $100,000. Return on investment also varies by a big margin and can exceed $1 million annually.
Physical therapy entails using physical methods such as exercise and massage therapy to manage and treat varying conditions, including chronic pain, post-operative recovery, and balance and vestibular challenges. Physical therapy is the care that aims to ease pain and help a patient function, move, and live better. The physical therapy industry is currently valued at about $40 billion.
Some of the most popular physical therapy franchises include:
Several of these physical therapy franchises and businesses are featured in the Entrepreneur's Franchise 500. It is also worth noting that there are more franchises you can consider.
The cost of setting up a physical therapy franchise varies considerably and the initial investment can range from $80,000 to $470,000. ROIs also vary considerably by brand as gross incomes can range from $250,000 to more than $2 million.
The physical therapy industry is valued at over $40 billion and is projected to grow at an annual rate of 4.7%. FYZICAL is the leading franchise brand in this industry, earning the #1 Physical Therapy Franchise title from Entrepreneur Magazine in 2020. Here is an overview of some of the benefits of investing in a FYZICAL physical therapy franchise:
FYZICAL offers three physical therapy franchise options: single unit (one franchise location), multi-unit (multiple locations), and Master Franchisee (an entire territory to resell franchise locations). With over 450 locations nationwide, FYZICAL has a strong community of franchise owners, you’ll find the strong operational support you want and need to succeed in the franchise industry. Get in touch today to learn more about investing in a FYZICAL physical therapy franchise.