Intangible Qualities of a Great Elder Care Franchise Opportunity
If you’re looking for an elder care franchise opportunity, the opportunity you choose will depend on a mix of tangible and intangible qualities. On the one hand, you’ll be looking at things like franchise territories, investment costs, royalty fees, and average revenues. On the other, you’ll be considering things like a franchisor’s core values or the sense of community shared by franchisees.
Some organizations, like the Franchise Business Review, have come up with ways to quantify these qualities. In fact, Visiting Angels® was recently named the best elder care franchise opportunity in 2019 by the FBR — a designation based in large part on our sense of vision and the strength of our franchisor community. But at the end of the day, you’ll need to be the judge of a franchisor’s intangibles.
So when you’re considering an elder care franchise opportunity, you’ll want to think carefully about traits and qualities like the following.
Elder Care Franchise Opportunity Intangibles
Many brands have a lot to say about the importance of their core values. But when you examine their business practices, these values are sometimes ignored for the sake of expedience.
In certain industries, brands can get away with weak core values or weak adherence to their stated principles. Thankfully, elder care isn’t one of these industries. When a person’s well-being is on the line, the stakes are too high and too personal. When care providers place their interests ahead of care recipients’, they quickly lose the trust of their clients and their community.
So if you’re looking at an elder care franchise opportunity, their core values — and their commitment to these values — will be crucial.
An elderly care franchise opportunity gives agency owners the resources of a larger brand. But as with any large organization, a franchise brand’s success depends on its leaders.
At Visiting Angels, we believe in two equally important types of leadership.
First and foremost, we believe in providing franchisees with the direction, support, and resources they need to succeed as franchise owners. This is a foundational part of our elder care franchise opportunity, dictating our approach to franchisee training, ongoing support, program development, and more.
Second, we believe in acting as leaders for the wider elder care community. From a business standpoint, we believe it makes sense to keep Visiting Angels at the forefront of our industry. At the same time, it has never been more important to advocate on behalf of American seniors and family caregivers.
At Visiting Angels, one of the qualities that sets our elder care franchise opportunity apart is our sense of family and community.
With a number of other franchise brands, franchisees interact with corporate directors, but they rarely interact with one another. We believe this represents a missed opportunity for these brands. Rather than keep our franchisees isolated from each other, we’re focused on finding ways to bring them together.
Visiting Angels hosts hundreds of franchise owners each year for a National Conference. This multi-day event includes a curated lineup of talks and workshops hosted by home care experts, business management specialists, and Visiting Angels directors and franchisees.
Just as importantly, it gives our franchise owners a venue to connect and network with one another. As a result, our franchisees are able to share their experiences, tips, and insights with one another, forming a supporting and self-reinforcing community.
One of the main reasons to purchase a franchise is the power and recognition of an established brand.
This recognition is especially important in the elder care field. Care providers need to build trust with seniors and their families to earn new business. With a recognized brand name, your agency will have a head start on the trust-building process.
In fact, many Visiting Angels franchisees cite our brand as a key reason why they chose our elder care franchise opportunity. Rather than building their reputations from scratch, our franchisees can point to the Visiting Angels name as a beacon of quality care.
Call 800-365-4189 today to learn more about the Visiting Angels elder care franchise opportunity or request information online.