Five Things That Make Home Care Franchises Such a Solid InvestmentPublished on January 09, 2017
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There are several important reasons why Home Care franchises have enjoyed the success they have over the past few years. In this year’s annual Home Care Franchises Sector Report, we revealed an amazing 58% growth in Home Care franchises since 2010, examining some of the significant franchise opportunities that are available in the Home Care industry.
With many new franchisors and franchisees entering the scene, we found certain key aspects of the Home Care sector that make it such an attractive opportunity. Here are five benefits that set it apart from other franchises:
- The market for Home Care services is large and continues to grow. This growth provides franchisees with an opportunity for significant revenue growth and continuous financial success.
- The concept of a Home Care franchise is straightforward and simplistic. While providing in-home care isn‘t easy, the product offering itself isn’t that complicated. While some franchisors design their franchise system to be overly complex, in many cases, less is better.
- The royalty for Home Care franchisees is reasonable and franchisees aren’t saddled with additional fees and add-ons. Franchises in the Home Care sector have a lower average royalty rate than other franchises in its parent industry, Personal Services, and the Franchise Industry as a whole.
- Most Home Care franchisors provide software that enables the franchisees to operate their business more efficiently. Within the franchise industry, a number of franchisors fail to provide the software systems that Home Care franchisors provide.
- They grant strong territory protections to the franchisee for the term of their franchise agreement.
These are only a few of the benefits that help to make Home Care franchises some of the most attractive franchise opportunities for investors. The Home Care franchising sector is on a successful trajectory and it differs from other franchise concepts in several key areas. Franchisors in other business categories could take a lesson from Home Care franchising and apply these attributes to their own franchise operation.
Home Care franchises that Made The Grade™
ComForCare Home Care
ComForCare Home Care has a franchise fee of $48,000 with an initial investment range of $56,750 to $162,000. They offer an exclusive territory and have a 10-year agreement term. Average Territory’s Gross Sales range up to $1,400,000 based on the number of months in business. ComForCare ended 2015 with 187 outlets.
You can reach out to Philip LeBlanc, Vice President of Franchise Development.
101 Mobility has a franchise fee ranging from $32,500 to $55,000 with an initial investment range of $114,000 to $201,000. They offer an APR identified by ZIP Codes and have a 10-year agreement term. 101 Mobility disclosed $14,900,000 of Total Completed Sales received in 2015, which is an increase of 8.91% over last year. Total Revenues range up to $3,400,000.
You can reach out to Mike Gardner, Manager of Franchise Development.
FirstLight HomeCare has a franchise fee of $39,950 with an initial investment range of $95,000 to $140,000. They offer protected territory and have a 10-year agreement term. FirstLight HomeCare discloses an Average Net Revenue in 2015 of $403,238 and ranged from $35,235 to $1,204,209.
You can reach out to Bill McPherson, Executive Director of Development.
Homewatch CareGivers has a franchise fee of $49,000 with an initial investment range of $87,000 to $137,000. They offer protected territory and have a 10-year agreement term. Homewatch CareGivers discloses 2015 average gross revenues at $1,300,000 and range up to $5,800,000.
You can reach out to Chip Baranowski, CFE, Director of Franchise Development.
Carebuilders at Home
Carebuilders at Home has a franchise fee of $39,500 with an initial investment range of $87,000 to $115,800. They offer designated territory and have a 10-year agreement term. Carebuilders discloses average gross revenue of $632,000 and ranges up to $1,800,000.
You can reach out to Mitch Pinckney, Franchise Development Consultant.
If you’re thinking of investing in a Home Care franchise, you don’t want to miss our Home Care Franchises Sector Report, for valuable insights and a more in-depth look at the benefits of owning a Home Care franchise.
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