The UK care home sector is extremely important. The quality of care has a huge impact on a brit’s happiness, health, and longevity. In the UK, the care centre industry (residential and nursing care) is estimated to be worth approximately £7.7bn, with an annual growth rate of 1.4% in 2016 and 2021. The industry Is also anticipated to benefit from a 1.0% growth rate from 2021 to 2026.
There are approximately 17,600 care homes in the UK. The majority (70%) of them are residential homes, while 30% are nursing homes. Nearly 500,000 people live in UK care homes, 70% of whom have dementia or severe memory problems.
According to the Office for National Statistics, demand is going to increase significantly, with the number of people aged over 85 expected to increase to two million by 2025. This represents a 36% rise from 2015.
Running a care home is not an easy task. Taking care of others is a major responsibility and is not one to be taken lightly. Compassion is essential and a desire to enhance the lives of your residents rather than just providing a room and treatment. With that attitude, you will see a return on investment that isn’t just financial but also personal.
A well-crafted business plan can mean the difference between success and failure for a new business. You should detail your objectives, mission, overheads etc.
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