Your Guide to Home Care Franchise Opportunities
If you’re looking to enter the home care industry, franchising offers numerous opportunities that can help you achieve your aims more quickly and efficiently than attempting to start a new brand from scratch. By taking advantage of a home care franchise opportunity, you can start a business with a solid reputation and proven systems in place ready for you to take advantage of. Not only will you avoid many hurdles that stall entrepreneurs who choose to go it alone, but you’ll also experience well-rounded support from a team with years of experience in the industry.
With any business decision, finding the right home care franchise opportunity requires plenty of research and deep thought about your personal motivations and professional aims. While conducting this research, you can use the guide below to understand the process of finding, purchasing, and opening a home care franchise.
Step One: Understand How Franchises Work
A franchise can be defined as a company that offers entrepreneurs a ready-made business model and brand. Franchisors also support franchisees with marketing and daily operations, depending on the details of the franchising agreement. In return, franchisees pay franchisors an initial franchise fee and ongoing royalty fees based on their profits.
The nature of this arrangement makes franchising a great option for some entrepreneurs and a less-than-ideal situation for others. It’s important to consider how much autonomy you want as a business owner, as well as how much support you need, before taking any next steps.
Step Two: Research Home Care Franchise Opportunities
Many home care franchise opportunities are on the market, each with their own unique brand and benefits for franchisees. As you dive into the different options available, consider the following criteria:
- Profitability. Always do your due diligence and look into the franchise’s track record of success.
- Reputation. Partnering with a brand that is known for reliable home care services can make all the difference in your ability to attract clients.
- Franchise fees. The fees charged by different franchisors can vary drastically. A low franchise fee and low royalty fees can take a huge burden off your shoulders, but they should never come at the cost of support from the franchisor.
- Franchisee experiences. Reaching out to current franchisees can offer unique insight into your potential day-to-day life as a business owner.
Step Three: Start the Application Process
Once you know which brand you’d like to work with, it’s time to get started on the paperwork. Keep in mind that the franchisor uses the application process to screen potential franchisees, much like you have just finished screening potential franchise partners.
In general, franchisors will want to take a look at your finances, your background, including your personal motivations for starting the business, the geographical location you’d like to work in, and your familiarity with the brand.
Having an attorney assist you with this process can help you avoid egregious errors and also ensure you understand the responsibilities both you and the franchisor will be taking on.
Step Four: Attend a Discovery Day Meeting
Discovery Days are a time in which franchisors and potential franchisees can have a face-to-face meeting to learn more about each other. These meetings often include detailed conversations about the commitment of purchasing a franchise and an in-depth look at daily operations. Potential franchisees meet with the team members who will help them get their business up and running and often also touch base with current franchisees.
Attending a Discovery Day does not represent a commitment to working with the franchisor. Approach this step with an open mind, and use the information you gather during this meeting to help you make your ultimate decision.
Step Five: Apply for Financing and Finalize Paperwork
As with any business venture, home care franchise opportunities require significant financing. After you’ve applied for and received the necessary funds, you can finalize the contract with the franchisor.
Step Six: Participate in Initial Training
The best home care franchise opportunities are those that offer ample training and continuing education for franchisees.
At Visiting Angels®, we provide a comprehensive training experience for our franchisees that fully prepares them for the exciting journey ahead. In addition, we help them stay up-to-date thanks to monthly webinar teleconferences, one-on-one retraining, and regional support meetings.
Step Seven: Open Your Home Care Business
Your hunt for the best home care franchise opportunity will pay off when you finally open your home care business. When you choose Visiting Angels, you’ll receive guidance with everything from licensing to acquiring leads and hiring caregivers. We’ll be here to assist you as you build relationships with families in your local area and start making a positive impact on your community through your home care business.
We would love to give you more information about our home care franchise opportunities and the steps you can take to become a franchisee with Visiting Angels. Contact us today at 800-365-4189 or request additional information online!