We understand that the prospect of owning several franchises can seem daunting. However, once you start your first home care franchise and realize what resources are available to you, and how Senior Helpers’ support and training is there to guide you every step of the way, multi-franchise ownership may start to become more attractive. A multi-unit owner can enjoy several benefits that single-unit owners simply can’t. Among them is shared resources between your franchises, consolidated marketing efforts, and increased employee loyalty. Owning one senior care franchise is exciting, and owning multiple can be profitable and definitely worthwhile if you are able to put in the work.
The number of multi-unit franchise owners is higher than ever. Over half of the 450,000 total franchises in the U.S. are owned by multi-unit owners. Multi-unit ownership is a highly-effective way to increase your profitability and deepen your investment portfolio. Owning multiple franchises can also make managing resources and conducting marketing campaigns much easier and more streamlined. We encourage franchisees to share resources between their home care franchises, like funds, supplies, and even caregivers.
More units doesn’t have to mean more hassle. Got a marketing campaign that your first home care franchise has used successfully? Feel free to use it again. Each of your franchise locations can run the same promotions, ads, and marketing strategy, so your operation is completely streamlined and runs smoothly.
It’s not always easy to find skilled employees, no less keeping those skilled employees. If quality employees sense there is little room for advancement or growth at your company, it’s common for them to leave—and who can blame them? With multiple franchises, your caregivers have ample room for mobility. Whether it’s a promotion within one franchise or relocating to one of your other home care franchises, flexibility is the key to ensuring employee happiness. Being able to move an employee from one franchise to another that could be closer to their home is a great way to increase employee loyalty and do right by them as a franchisee.
We like to think that owning multiple franchises doesn’t necessarily mean more work than owning one, but you should be prepared to devote the necessary time and attention to each franchise. If you’re seriously considering opening multiple units, you should have a big picture mentality. You should be comfortable delegating, maintain long-term perspective, have networking skill, a willingness to work within our proven business model, and a real passion for giving back to the senior community. Owning multiple units isn’t for everyone, but if you’re determined to work for it then the benefits could be yours.
If you’re ready to expand your business with multiple home care franchises, contact Senior Helpers today to learn how to get started.