When you’re considering a franchise opportunity, there are literally hundreds of things to factor into your decision before you invest. One of the most important things to keep in mind is the franchise business sector — it can be the driving force behind your explosive success or the anchor that sinks your business.
More specifically, to find the best franchise opportunity, you want to look to the industry sectors that have a strong market demand and a sustained history of growth. You also have to consider the investment capital you have available, and the business skills that you possess as a franchise candidate.
But what’s the best franchise? There’s no doubt that with over 2,500 franchises to choose from, it can be difficult picking the right one. But, as you may have seen in our recent Home Care Franchise Report, our research shows that if you prefer the Service industry, a Home Care franchise can provide a very solid opportunity. Although just like any other business, it has its challenges, operating a Home Care franchise can be a rewarding and satisfying career.
According to our research, the number of Home Care franchises in the United States grew by 58% between 2010 and 2016, and averaged 10% growth per year. As well, there were 34 Home Care franchises operating in 2010, which more than doubled to 69 franchise systems by 2015. Of these systems, 21 franchises have over 100 locations and 29 have under 25 locations. In addition, new Home Care franchises continue to start up, which provides more opportunities for prospective franchisees. Since 2010, $824 million has been invested into Home Care franchises.
In the Home Care Franchise Report, we also take a look at some of the best Home Care franchises to own, and highlighted numerous other benefits that a Home Care franchise can provide:
- Home Care is one of the fastest growing segments in the overall Health Care industry, so there’s no need to be concerned about Home Care services being “just a trend”.
- A significant number of Home Care franchisors allow franchisees to operate from a home-based office, which can be very appealing depending on your lifestyle.
- Your initial investment can be as low as $50,000, and sometimes less, including the franchise fee. This definitely makes the opportunity more appealing, especially if you have limited capital to invest.
- A Home Care franchise operation is clean and the work schedule is manageable, as opposed to many franchise opportunities that require long hours for seven days a week.
- The labor pool for Home Care workers is large and many seniors or retirees find the work rewarding, which eliminates the worry of staffing your franchise business.
- The market for Home Care services is large, and getting larger, so there are ample territories available throughout the United States.
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.
You can learn more about our recent findings in the full Home Care Franchise Report. If you’re trying to find the best franchise to own, you definitely don’t want to miss it.