As you go about finding a home care franchise opportunity to invest in, there are many important factors to consider. For example, it’s crucial your values align with the franchisor you choose, that the franchisor has a reputable brand image recognized in your community, and that they will provide extensive support to get your business up and running. However, it’s also essential you understand the monetary aspect of this investment so you can be certain you’re making a solid decision about your financial future.
A Deep Dive Into the Financial Side of Our Home Care Franchise Opportunities
When it comes to investing in a home care franchise opportunity, you’ll have a long list of numbers and terms to keep track of, from the initial investment you’ll need to make to get started to the ongoing royalty fee you’ll pay to benefit from working within the franchise system. Keep in mind that these fees represent more than the cost of doing business as a franchisee. They are an investment in your future success that includes training conducted by industry experts, a proven business model, and ongoing assistance with staffing and enrollment.
Below, we’re offering a detailed look at what these figures will look like when you choose a home care franchise opportunity from Senior Helpers.
Total Initial Investment
One of the most important data points you’ll need to make note of is the total initial investment for the franchise. This includes the franchise fee in combination with a wide range of other startup costs. The total initial investment for a Senior Helpers franchise ranges from $127,800 to $171,800 and includes the modest franchise fee of $55,000 alongside other startup costs such as:
- Travel and living expenses during the training program
- Lease, security, and utility deposits
- Leasehold improvements
- Supplies, including furniture and computer systems
- Promotional items and initial advertising costs
- Business license and permits
- Legal and professional fees
- Staffing and recruitment
- Operating expenses for 3 months
Royalties and Other Ongoing Fees
While the total initial cost of investing in a home care franchise opportunity covers a wide range of startup expenses, it does not cover ongoing fees such as royalties.
At Senior Helpers, we maintain a low royalty rate of 5% with the aim of encouraging our franchisees’ profitability while also providing exceptional support and resources that help them thrive.
Other ongoing costs besides the royalty fee include the following:
- A 1% marketing fund fee
- Monthly IT and licensing fees
- An annual conference registration fee
Financial Requirements and Incentives for Potential Franchisees
If you’d like to invest in a home care franchise opportunity, there are also specific requirements that you’ll need to meet to be considered by the franchisor. At Senior Helpers, we expect candidates to have a minimum of $55,000 in liquid capital, as well as a net worth of at least $200,000. These figures help make Senior Helpers one of the most affordable options available for entrepreneurs interested in joining the home care industry.
We also offer financial incentives such as:
- Third-party financing with no-cost qualification
- A 15% discount on the initial franchise fee for Veterans
- A discounted royalty fee for signing the franchise agreement on Meet the Team Day
Learn More About Our Affordable Home Care Franchise Opportunities!
For a more detailed breakdown of the financial investment you can expect to make as a Senior Helpers franchisee, please refer to the Senior Helpers Franchise Disclosure Document (FDD). We also encourage you to reach out to our franchise development team for additional franchising information.
Get started by contacting us online or scheduling a call to speak with a representative from Senior Helpers about our home care franchise opportunities!