Common Homecare Franchise Questions Answered
A homecare franchise is the ideal solution to business ownership. In exchange for paying an initial start-up payment and recurring fees, you are granted a license permitting access to proprietary information and the use of established trademarks to sell products or services.
Is a Homecare Franchise the Best Business Decision for Your Goals?
The following are commonly asked questions about franchise ownership in general and homecare franchises in particular:
1. Besides visiting a company’s website, how do I learn more about a franchise?
There are two documents that provide detailed information about a company and its history.
The Franchise Disclosure Document (FDD) offers a comprehensive package of information including everything from legal actions to financial statements. Also outlined are the franchise costs and what a future franchisee can expect from the company. Receipt of this document does not constitute an obligation on your part. It’s a look behind the curtain at the franchise you are considering.
If you decide to proceed further into the process, you will receive a Franchise Agreement (FA) to review and sign. This contractually binding pact defines the standards and practices that protect the franchisor's intellectual property. It also specifies the rights and obligations of the franchisee to the organization and vice versa.
2. What does a franchisor need to know about me?
Once you decide to pursue a career as a franchisee, you will typically need to undergo an interview. This is especially true if you are considering a homecare franchise. The franchisor will want to ensure you are a like-minded person who shares their commitment to those in their care.
Like a traditional interview, the franchise’s representative would like to understand your industry experience and goals as well as gain an understanding of your business building plans. They will also want to know how you plan on financing this venture and perhaps even your exit strategy.
3. What other resources can I rely upon to make this decision?
It is often recommended you engage a franchise attorney to review the FDD and FA to decipher any legalese with which you are unfamiliar. It would also be wise to speak with an accountant who can conduct a breakeven analysis to provide a clear picture of your projected cash flow.
If you want to take it a step further, talk to other franchisees to get their insight about provided training and corporate support.
Homecare Industry Franchise Questions
1. Do I need homecare experience to open a homecare franchise?
Prior experience is not necessarily required. If you are interested in pursuing such an opportunity, then you are likely an empathetic person who wishes to help families care for their loved ones. However, it is helpful if you have some managerial or leadership experience to successfully handle the duties of someone in a supervisory capacity.
2. How do I hire the best people to work for my new business?
In homecare, people make the business. Finding qualified and compassionate caregivers will be a major focus of your new franchise as you get started and for the entire time you are the owner. Our corporate team can help you with learning how to screen potential caregivers and employees. We also offer a variety of caregiver recruitment strategies through our various marketing vendors.
When you conduct interviews, it can be helpful to have a trusted colleague accompany you to get their feedback on the interviewee. Or perhaps this same resource could perform the initial vetting and then pass the candidate along to you if they feel they are a good prospect. In a homecare franchise, people are your strongest asset; these are among the biggest decisions you will make.
3. What’s the advantage of going with an established franchise over opening my own independent senior care business?
Franchises are turnkey solutions to business ownership. They allow you to employ proven strategies and processes to effectively grow your enterprise.
At Visiting Angels®, we offer robust training programs and on-going support in addition to tremendous media exposure and promotional strategies. These are invaluable advantages to have over your competition.
Are you ready to make the difference you’ve always dreamed of by launching your homecare franchise? Then look out for our next installment: “Answering Common Questions About Our Franchise Opportunities!”
Learn more about owning a Visiting Angels’ homecare franchise, by calling 800-365-4189 or by requesting information online.