Starting an In Home Care Franchise: What are the Costs?
Considering an in home care franchise? If so, you’ve chosen a highly rewarding field, both financially and personally. Millions of U.S. households require flexible and affordable home care services to help their aging relatives age in place, and that number is going to grow.
By partnering with a nationally recognized home care brand, like Visiting Angels®, you’ll benefit from an established reputation for quality care. You’ll also receive all the tools you need for your location to provide the exceptionally high standard of care Americans have come to expect from our brand.
Of course, starting any business requires investment. When you buy into a franchise, this will include initial expenses as well as ongoing fees. In this post, we’ll explore some of the costs you can expect as a franchise owner.
Breaking Down the Costs of an In Home Care Franchise
There is no quick answer to how much it costs to open an in home care franchise. The costs vary based on the brand you choose, franchise location, and potential client pool.
In general, you can expect some form of the following expenses:
- Initial franchising fee
This is the upfront cost of joining the franchise network. The franchise fee for Visiting Angels is dependent on the population size in your territory.
- Startup costs
These costs cover the materials and services you’ll need to open up your franchise and meet your legal obligations. They can include insurance deposits, Workers’ Compensation insurance deposits, computers and software, printing and supplies, and advertising fees.
- Royalty fees
Royalty fees are ongoing payments you’ll make to your franchisor based on your gross revenues. Franchises may have different royalty models depending on your earnings. At Visiting Angels, the starting fee is 3.5% of your gross earnings. As your revenue increases, that percentage can drop to as low as 3%.
When evaluating the costs of any franchise, consider what you’ll receive as a franchisee.
How much support will the franchisor provide, both in opening your location and successfully running your business? What equipment and materials will be available to you? What kind of marketing support can you expect from national ad campaigns?
Asking these questions can give you a clearer sense of the true value of any franchise opportunity.
Learn More About Franchising with Visiting Angels
The home care industry is built on trust between care providers and their clients. After all, our clients are entrusting the comfort and safety of their most vulnerable family members to our care.
By buying an in home care franchise, you can benefit from the trust a brand has built with clients across the country. Visiting Angels is a widely known and respected home care franchise with more than 600 locations. We’ve built a reputation for quality home care services among our clients.
In addition, we’ve earned a reputation for empowering our franchisees and creating a supportive and engaged community. When you invest in Visiting Angels, we invest in you with ongoing training, conferences, purchasing cooperatives, and other support services.
For specific information about the costs of running a Visiting Angels in home care franchise, call 800-365-4189 today or request details online.