Cover Story: Caring Transitions - The Franchise Filling the Void in the Senior Services Market
When a stroke paralyzed Tracey Adam’s father earlier this year, she quickly realized he could no longer live on his own or take care of himself.
Because of the extensive medical treatment he needed, in-home care was not an option either. Tracey decided to move her father from his home two states away into an assisted living facility closer to her. She faced the daunting task of figuring out how to manage the move process and what to do with decades worth of her father’s things. Then a friend told her about Caring Transitions.
Filling a Void
Specializing in senior relocation and transition services, Caring Transitions is a national franchise organization that fills a massive void in the lucrative senior services market. It is no secret that America is aging. By 2030, an estimated 72 million Americans will be 65 and older. According to a recent survey, 42 percent of these baby boomers want to downsize. Others will need to move quickly due to a trigger moment: whether related to an injury, loss of a spouse, loss of memory, or loss of mobility. Seniors and their families find this time of their lives extremely overwhelming and never easy.
Caring Transitions assists seniors who are downsizing into a smaller home or moving into a senior care facility, as well as adult children managing a parents’ transition or for one who has, sadly, passed away. The company’s franchise owners are specially trained professionals who handle every detail of their clients’ transitions. This includes sorting personal belongings, packing, unpacking, resettling, and selling items through both in-home and online estate sales to the final clearing and cleaning of the property.
When people usually think of opportunities in the senior services sector, they automatically think of home health care — which places caregivers in the home to help with activities of daily living. Fifteen years ago, in-home care companies were few and far between. Now the market is saturated with more than 11,000 businesses competing against each other.
“Caring Transitions is doing for seniors and their families what in-home health care did. Fill a major need,” says Ray Fabik, President of Caring Transitions. “At the same time, we provide a great alternative and opportunity for someone looking to be in that senior space but without all the competition and complications that come along with the in-home care industry.”
Past, Present, Future
Caring Transitions was founded in 2006, born out of an “aha!” moment connected to an in-home care franchise previously owned by its parent company, Strategic Franchising.
When it was no longer safe for a senior to continue living at home and became time to make the transition from their home into an assisted living facility or a nursing home, caregivers noticed how stressed seniors and their families became when trying to decide what to do with all the
treasures left behind. The same issues revealed themselves when a senior passed away. Adult children did not always know what to do with everything that is left behind.
“Just as caregivers cared for the person, we realized we could provide a service caring for peoples’ belongings, thus Caring Transitions was created,” says Fabik. “Thanks to our caring approach, we allow the seniors and their families to focus on the next phase of their life.”
Each Caring Transitions owner goes through specialized training during the comprehensive onboarding process, which includes earning the Certified Relocation Transitions Specialist (CRTS) designation, the most rigorous industry credentials awarded in the fields of senior relocation and move management.
As word gets out and the pool of seniors grows, the demand for Caring Transitions services is exploding. Despite the recent pandemic, the company is racing past franchise development targets. The incredible growth brings the current number of franchise territories to 244. With more signed agreements in progress, the brand forecasts it will award at least 60 new franchise territories by the end of the year.
“Part of our tremendous growth can be traced back to the uncertainty of the pandemic. More people are deciding to go into business for themselves and take complete control over their financial future,” says Ray Fabik, President of Caring Transitions. “And more importantly, people want to invest in a healthy recession-resistant business, and that is exactly what Caring Transitions offers.”
Multiple Revenue Streams
The pandemic resilience of Caring Transitions centers on the brand’s unique business model which offers entrepreneurs a forward-thinking (and morally fulfilling) way to generate income. A major source of revenue for Caring Transitions franchise owners is CTBIDS, the brand’s national online estate sale auction platform which helps support its clients in liquidating unique and everyday treasures.
The site attracts all sorts of clientele, particularly collectors and estate sale enthusiasts, who consistently use the platform to search for and purchase collectible goods like art, jewelry, sports memorabilia, and toys. CTBIDS gives collectors an ever-evolving space to find unique treasures put up for auction on behalf of our senior clients and their families.
“Because CTBIDS has allowed Caring Transitions franchisees to sell anywhere, anytime, to anyone, owners create additional revenue by making sales that otherwise never would have existed, especially during the pandemic,” adds Fabik. “Resale shops, physical estate sales, and in-person auctions were unable to operate due to COVID-19 restrictions, so we saw a massive shift to online platforms. CTBIDS experienced a record-breaking 300 percent increase in website traffic over the previous year.”
Staffing
Caring Transitions has not been impacted by the staffing shortages plaguing many businesses across the country, which is another reason the model is so attractive to potential franchise owners. A franchise can start out as a three- or four-person operation. Depending on how fast they want to grow and scale the business, they can expand their staff exponentially.
Due to the nature of the business, which requires them to be inside people’s homes handling treasured belongings, all hires are W-2 employees who undergo stringent background checks.
But rather than calling them employees, Caring Transitions uses the term “paid volunteers.” Much of the staff are not full time, and they work for franchise owners as needed.
“Our paid volunteers are usually between 45 to 65 years old and don’t necessarily need a paycheck,” states Fabik. “They are looking for something fulfilling, where they can make a difference in a senior’s life.”
Opportunity Awaits
Like Tracy Adams, almost everyone has had a personal experience with trying to help a loved one — grandparent, parent, neighbor, or friend — relocate, downsize, or clear out a home.
With a reputation for trust, compassion, and professionalism, combined with the infrastructure and operational and marketing support provided by the corporate team, new franchisees can expect to be the #1 name in their community when it comes to senior moving assistance.
No matter the level of experience in entrepreneurship, Caring Transitions is ready to welcome new franchise owners to join this rapidly expanding industry. Caring Transitions owners enjoy a sense of fulfillment that few other types of businesses can provide.
To learn more about owning a Caring Transitions franchise, visit www.caringtransitionsfranchise.com.