HOME INSTEAD SENIOR CARE Franchise Startup Cost, Profit Margin, Revenue and Locations
Home Instead is one of the top leading providers of non medical services for the aged in their homes. The services rendered by the company are targeted at people that have the capability to manage their needs physically but will at the same time require extra attention, supervision, assistance or just a companionship for them to stay in their homes. As one of the best in the industry, a lot of business people, at one time or the other, always seeks to know how much is a Home Instead Senior Care franchise.
ABOUT THE COMPANY
It all started in the year 1994 when Paul and Lori Hogan saw the need to bring in something new into the home care services for the elderly. A lot of services had been around as at then, but the client satisfaction has not been receiving an encouraging review.
Their company, based in Nebraska is involved in the provision of full time, part time and live-in nonmedical assistance to the aged. They have locations in the Unites States, part of Canada and Europe.
IS HOME INSTEAD SENIOR CARE A FRANCHISE?
Home Instead Senior Care offers international franchise opportunities. They started selling franchises in 1995 giving them about 22 years of franchising experience that is designed around a working business model. So if anyone requests is Home Instead Senior Care a Franchise? The answer to that question will be in the affirmative.
IS THE SENIOR MARKET LUCRATIVE?
All over the world, the senior population seems to be growing fast and this is expected to grow even faster than any other age group. It is even estimated that by the year 2050, the population of people that are aged 60 and above will double what is obtainable today.
What this indicates is an increase in the demand for solutions just as the in-home care services that will assist the growing adult population in maintaining a perfect health and also be able to live longer as members of the society.
This increase in demand also means that there is a growth in the demand for home care services franchise.
HOW MUCH DOES A HOME INSTEAD SENIOR CARE FRANCHISE COST?
The Home Instead Senior Care franchise cost is considered to be one of the most affordable franchises in the industry. If you are opening a new franchise in a virgin market that has not been operated by a Home Instead franchise, you will need a start up cost to the tune of $125,000
HOME INSTEAD SENIOR CARE FRANCHISE FEE
Just like any other franchise, it is necessary that you make a Home Instead franchise fee before you are granted the license to operate under the brand identities of the company. This franchise fee will only be valid for a certain period of time and it is non refundable. The initial franchise fee payment is $55,000
It is also important to note that you will be making an ongoing ad royalty fee of 2% as well as a royalty fee of 5% of the monthly gross revenue of your Home Instead franchise unit.
HOW MUCH DOES A HOME CARE SENIOR CARE FRANCHISE MAKE?
A Home Instead Senior Care franchise owner will make a lot of money if they are able to centre their business of the laid down franchise model of the company. This model has been proven to achieve success. However, the average income that can be realised in any franchise unit will depend so much on the location of the franchise unit. Franchises in urban area will enjoy more patronage than those in local areas.
A lot of franchisees always love to seek extra funding even if they have enough funds to start their franchise business. It is quite unfortunate that Home Instead Senior Care franchise does not offer direct financing. The company, although, connects with a variety of institutions that they refer candidates that are qualified for loans to.
A lot of franchisees utilise SBA loans and the company also work with SBA. This can hasten the lending process.
Every new franchise owner will start with a pre training assistance to get them prepared for a 1 week training session that will held at the company headquarters in Nebraska. Each franchisee will then be assigned a regional manager that will coach them through the startup up phase of their business.
Franchisees with Home Instead will also enjoy special coaching that is designed specifically for them. And besides this personalised training, franchisees will also be provided with more learning opportunities such as field training, annual convention, conferences, and webinars and so on.
Every franchisee with the company will enjoy a protected territory that is determined by the number of businesses within the specific area. Although the company believes more in a right owner and combined minimum number of clients. The size of the location and the socio economic factors are not considered that important.
HOW TO OPEN A HOME INSTEAD SENIOR CARE FRANCHISE
There are some steps that is required of every franchisee before they can be considered a franchise owner with the company. For more information on how to open a Home Instead senior care franchise, it is recommended that you visit this page: http://franchises.homeinstead.com/franchising-faq/Pages/default.aspx