Resale In-Home Care Franchises: Tips for Smooth Transitions
Resale in-home care franchises are currently one of the best ways to enter the in-home care market. But for resale franchises to prove successful, they need to make a smooth transition from owner to owner. And that can be tough in a field like home care, where so much depends on relationships.
As many Visiting Angels’® locations prove, these transitions can be handled successfully. If you approach the transition with a strong understanding of what you need to maintain continuity, and if you develop a detailed strategy of how to maintain that continuity, you can build on the business’s strengths, rather than trying to hang on to what the previous owners built.
Keys to Transition with In-Home Care Franchises
Plan with the Previous Owner
No one will have a better sense of how to handle the transition than the previous owner of your franchise location. The previous owner should be eager to assist you in planning the transition. After all, they’ve invested years of their time into this business, and they’ve formed relationships with staff and clients. They’ll want to make sure the business is in good hands—and in good shape—moving forward.
Work with Your Franchisor
Your franchisor will be crucial in planning a successful transition. For most major brands, they’ve handled similar transitions for other in-home care franchises within their system. They can help guide you through the process, steering you away from common pitfalls and giving you the resources you need to get up to speed in a hurry.
Retain Key Staff
In-home care franchises vary in size, from small operations of less than 10 people to large ones with hundreds of caregivers. Whatever the size of your new franchise, it will be important for you to retain existing staff. This includes both administrative employees as well as professional caregivers. Your back office team will be an invaluable resource during the transition. You’ll need to hold onto caregivers if you want to retain your clients as well.
Speak One-on-One with Clients
In a field as personal as home care, client loyalty largely depends on relationships. When in-home care franchises change hands, clients may worry about no longer having the same relationship with the business. If steps aren’t taken to preserve these relationships, clients may start looking for new home care providers. To avoid this, it’s critical for caregivers to remain in place. But we also suggest having one-on-one discussions with clients. This will help you figure out what they need and expect from your agency. It will also jump-start personal relationships between you and the clients you’ve inherited.
During negotiations for resale of an in-home care franchise, details are usually kept under wraps. If news of the impending sale leaks, it can result in unwarranted concern from staff or clients. But once the sale is complete, it’s better to be transparent. Employees and clients will want to know who you are, how you work, and what you have planned for the business. The sooner you can resolve these concerns, the better.
Find resale in-home care franchises with Visiting Angels by calling 800-365-4189 or submitting an online request.