HOMEWATCH CAREGIVERS Franchise Startup Cost, Profit Margin, Revenue and Locations
Homewatch Caregivers franchisees are involved in the provision of personal and home care assistance to individuals that are aging, disabled or undergoing rehabilitation. It is one of the most trusted franchises in the homecare industry a highly performing franchise model. For those that will be interested in buying into the business, you might want to know how much is a Homewatch Caregivers franchise.
ABOUT THE COMPANY
Homewatch Caregivers was established by Paul Sauer in the year 1980. When he started the company, he had the principle to deliver the best quality and compassionate care to the clients that will need home care services.
The clients of the company are the elderly, people undergoing rehabilitation and people that are recovering from a sickness. The company provides both health care services and nonmedical services.
IS HOMEWATCH CAREGIVERS A FRANCHISE?
After the company was established in the 80’s, it took them more than 20 years to start selling franchise opportunities to the public. The company began its franchising in the year 1996 and since then they have gone ahead to own more than 200 franchise locations spread across the United States. So we can conclude that Homewatch Caregivers is a franchise
THE FRANCHISE OFFER
When you buy into the Homewatch Caregivers franchise, you will be given the opportunity to operate the business of the company through servicing clients that need companionship, nursing services, and personal care. These services will be provided by licensed nurses, certified nurse assistants and registered nurses for elderly people/clients.
HOW MUCH DOES A HOMEWATCH CAREGIVERS FRANCHISE COST?
The Homewatch Caregivers franchise cost will be the entire investment that you will need to own a franchise unit with the company. Investing in the business will require a net worth of about $35,000 as well as a minimum liquid asset of about $50,000.
When you decide to buy into the company’s franchise, it is advisable for you to have an initial investment plan of between $80,000 to about $130,000. The total investment will although depend on the location of the franchise unit.
HOMEWATCH CAREGIVERS FRANCHISE FEE
The Homewatch Caregivers franchise fee is the initial payment that you will be expected to make to the company to grant you the license to operate under their brand identity. The initial franchise fee ranges between $49,000 and $61,500. You will also be expected to make an ongoing royalty fee of about 5% and ad royalty fee of 1% of the monthly gross revenue of your franchise unit.
HOW MUCH DOES A HOMEWATCH CAREGIVERS FRANCHISE MAKE?
The average income that a Homewatch Caregivers franchise owner is likely to make will depend on a whole lot of factors. One of which is the location of the franchise unit and the business acumen of the franchise owner. However, if the business model of the company is well implemented, the unit is definitely assured of earning a tangible income on a yearly basis.
More information of the actual figure that can be made can be gotten in the Franchise Disclosure Document that will be provided by the company to every successful candidate.
For you to be considered for a franchise opportunity with Homewatch Caregivers, it is recommended that you are an individual with so much passion to give care and assistance to people in need, irrespective of their condition.
You might not necessarily have prior knowledge about the Caregiving industry, as the company will provide every training that you will need to excel in the business.
Every successful candidate will be expected to undergo a mandatory 5 weeks training at the company’ head office in Denver. Franchisees will also be exposed to an on-field launch program at their franchise location.
The company also provides monthly webinar and online training that will keep all franchisees abreast of the latest developments in the industry.
Franchisee with Homewatch Caregivers will be expected to run their operations from a single location as agreed in the Franchise Agreement form. The office location will be in a geographical entity usually identified by zip codes with a population of about 15,000 to 30,000 seniors. If franchisees want a bigger territory, they may be expected to buy extra zip code areas.
TERMS OF AGREEMENT
The terms of agreement for a franchise term are 10 years. If the franchisees desire to extend the term after expiration, they may do so if they are able to meet up with the company’s terms and conditions for renewal.
Homewatch Caregivers does not offer direct financing to their franchisees. Franchisees that need extra funding to establish their unit will be referred to a 3rd party lender that will be willing to offer funding to cover the cost of the equipment, startup costs, payroll, inventory, accounts receivable and so on.
Veterans that are honorably discharged from service can also get a 10% rebate of the initial franchise fee payment to the company.
HOW TO OPEN A HOMEWATCH CAREGIVERS FRANCHISE
This article has discussed intensively the information required on how to open a Homewatch Caregivers franchise. However for you to finalize your application, you will need to proceed to the company’s website: https://www.homewatchcaregivers.com/franchise/initial-investment and submit your application.
Once your application is considered, you will be allocated a franchise consultant who will assist you in setting up your new Homewatch Caregivers franchise unit.