Environment of BrightStar Franchising LLC Research Paper

Environment of BrightStar Franchising LLC
An analysis of the general elder care and home healthcare services environment facing BrightStar Franchising LLC.
# 153685 | 857 words | 5 sources | APA | 2012 | US
Published on Oct 03, 2013 in Business (Companies) , Business (Industries)


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Description:

The paper examines the demographic, economic, political/legal, sociocultural, technological and global segments of the elderly care and home healthcare services industry. The paper finds that overall, the home-based elderly healthcare industry has achieved tremendous growth over the past decade, and will continue to be in high demand especially by middle to upper class families as the elderly demographics continue to grow. The paper concludes that the demographic trend is certainly the strongest predictor of growth and opportunity, while the political and legal trends are the most significant threat to BrightStar Franchising LLC and this industry overall.

From the Paper:

"The economic segment shows great opportunity for BrightStar and the elderly care market overall. Elderly care services has continued to increased annually by 6.6%. The health care service area is the fastest growing segment in the industry and this is where BrightStar stands to make an excellent profit. Furthermore "for-profit institutions will remain the largest provider category and will slightly outpace nonprofit types" (Freedonia Group, 2008). There will be more out-of-pocket expenses in this industry however, which should be considered especially when someone is considering buying into a BrightStar franchise because the location of the facility will depend on the income levels and ability for covering out-of-pocket expenses. For example, someone in a low income area will not want to franchise in this industry especially since Medicaid and Medicare is covering less healthcare costs (2011).
"The political/legal segment will be the most difficult area to address as this area is very volatile with new policies being implemented as new presidential parties enter office. The last decade has been concerned with Social Security and Medicare policy which indicates that many elderly will face significant costs for elderly care (Stone, 2000). This fluctuation of policy can be a threat to the bottom line and needs to be assessed yearly for changes to strategy."

Sample of Sources Used:

  • Debaise, C. (2011). Top 50 fastest-growing women-led companies.The Wall Street Journal. Retrieved from http://online.wsj.com/article/SB10001424052748703778104576287321106158308.html
  • Freedonia Group. (2008). Elder care services to 2011: Demand and sales forecasts, market share, market size, market leaders. Retrieved from http://www.freedoniagroup.com/Elder-Care-Services.html
  • Stone, R.I. (2000). Long-term carefor the elderly with disabilities: Current policy, emerging trends, and implications for the twenty-first century. Milbank Memorial Fund. Retrieved from http://www.milbank.org/reports/0008stone/index.html
  • US Department of Health and Human Services' Administration. (2011). Aging statistics. Retrieved from http://www.aoa.gov/aoaroot/aging_statistics/index.aspx
  • University of Chicago Medicine.(2012). Elder care. Retrieved from http://www.uchospitals.edu/online-library/content=P00600

Cite this Research Paper:

APA Format

Environment of BrightStar Franchising LLC (2013, October 03) Retrieved April 21, 2024, from https://www.academon.com/research-paper/environment-of-brightstar-franchising-llc-153685/

MLA Format

"Environment of BrightStar Franchising LLC" 03 October 2013. Web. 21 April. 2024. <https://www.academon.com/research-paper/environment-of-brightstar-franchising-llc-153685/>

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