The Importance of Protected Territories in Living Assistance Franchise Opportunities
At Visiting Angels, our living assistance franchise opportunities come with protected territories. As a potential first-time franchise owner, you might be wondering why protected territories are so important.
Simply put, protected territories safeguard your investment. And in the bigger picture, they’re a sign that your franchisor is willing to place your interests first. For many potential franchise buyers, protected territories can make or break their decision to invest in living assistance franchise opportunities.
Protected vs. Unprotected Territories
In concept, the difference between protected and unprotected territories is relatively simple. A protected territory is a geographical area in which you are the only franchise allowed to operate under your franchisor’s brand name. With unprotected territories, franchise owners with the same brand are allowed to operate on the same turf.
For instance, if you purchase a living assistance franchise opportunity from Visiting Angels, you are the only Visiting Angels franchise allowed to operate in your area. But if you purchased a franchise from a franchise with unprotected territories, another franchisee could set up shop right next door under the same brand name.
You might wonder why any franchisor would offer unprotected territories. Think of it this way, if your franchise has 100 clients, your franchisor receives royalties from 100 clients’ worth of business. But if you and the franchise next door operate under the same brand name, and each of you only has 55 clients, your franchisor now receives royalties from 110 clients – even though this set up cuts your number of clients by almost half.
At Visiting Angels, our living assistance franchise opportunities come with protected territories, meaning that if you have 100 clients, you don’t need to worry about a new Visiting Angels franchise stealing 30 or 40 or 50 of them. This way, we put our franchisees first – something we strive to do in every aspect of our business.
The Right Territory for a Living Assistance Franchise Opportunity
If you’re ready to purchase a living assistance franchise opportunity, you’ll want to see which territories are available to you and which of these territories pose the best chance of success.
First, make a list of territories with open franchise opportunities that you would be interested in. Next, do some research. There are a number of factors that make any given region a prime location for a living assistance franchise opportunity. You may wish to look at the area’s current population of seniors, it’s recent population trends, its affluence, and which direct and indirect competitors are in the area.
Use this data to narrow down your list, then do deeper research. Take time to confer with other franchisees if you can, and get in touch with corporate support staff, like those at Visiting Angels, who can offer more detailed information about each location.
To discover living assistance franchise opportunities with Visiting Angels, check out our territory map or request information.