"Our pilot office had gross sales of $776,661 during its first year of operations."
Recently, Entrepreneur boasted that senior care is the hottest franchise idea for 2004. The authors explain that the senior opportunity is only in its first inning, and dramatic explosive growth is still to come in the decade ahead. Home Care Assistance is uniquely positioned in the industry to take advantage of the senior market. It is based on a new, powerful business concept. This focus results in greater profits per client and shorter time to profitability.
Why Home Care Assistance?
Unique concept
Home Care Assistance has a unique business concept. We target consumers who need 24 hour, 7 days a week, live-in home care. This under-served market segment consists of people who have chronic, low level health problems, but who are also quite capable of living at home, well into the future. They simply need additional support to live independently.
Distinctive brand identity
We are so committed to building brand equity as the 24/7 Live-In Specialists that we secured a nationwide phone number for consumers to call who need our service: 1-866-4-LiveIn. We trademarked a name for this service: In Home Assisted Living™, and we are the only company in the industry to offer an exclusive We Will Be There™ Guarantee.
Short time to profits
The advantages of focusing on 24 hour, 7 days a week live-in services are two fold. First, we provide a much needed service for seniors who wish to live independently and avoid moving into nursing homes. And second, the 24/7 live-in services generate greater revenues per client and hence a dramatic compression in time to profitability.
No dominate national brand.
According to The Wall Street Journal, general awareness of the average franchised home care agency is less than 1%. This is the Home Care Assistance Franchise opportunity.
Excellent training and ongoing support.
Home Care Assistance prepares you with extensive training in all the nuts and bolts involved in running a home care business. Our comprehensive training includes an in depth program at our corporate headquarters, as well as ongoing support for long-term success.
All franchisees receive a confidential Operations Manual that exhaustively covers the following:
Innovative Home Care Assistance Business Manager™--our proprietary scheduling and billing software automates the daily tasks associated with running a home care business
Management of caregivers/clients-includes recruitment and hiring; compensation and benefits; staffing and case management; record keeping and reporting
National, regional and local marketing, advertising and public relations campaigns
Corporate policy, procedures and quality control
Forms, check lists, time sheets, and assorted documents
After formal training is complete, each franchisee is assigned to a senior member of our Franchise Management Team who provides detailed, expert guidance on an ongoing basis.
Q: What is unique about Home Care Assistance versus other senior care franchises? A: Home Care Assistance is based on the most sophisticated business strategy in the industry — one that brings success far beyond what other companies in home care are achieving. We focus on the more lucrative 24 hour a day, 7 days a week, live-in services rather than hourly services. This focus results in greater profits per client and shorter time to profitability.
Q: How do I get started? A: First, complete the Express Request form and we will contact you shortly through our Franchise Personnel. Investigate market locations, demographics, population counts and review the Uniform Franchise Offering Circular (UFOC) with your advisor.
Q: What is my total investment? A: Depending on the size of your chosen territory, the initial investment ranges from US$48,950 to US$117,950 (including the franchise fee). Note that approximately 36% of your total investment is used as advertising funds over the initial six months of your business.
Q: What is the royalty fee? A: There is a 5% of gross sales royalty fee. However, we charge only 1% of this fee for the first six months of your business when you advertise using our approved marketing plan.
Q: Once I commit to becoming a Franchisee, how long until I open my doors for business? A: There is no need for a large office or huge investment in real estate, so it only takes 30-60 days to open your door for business. During this time, we will schedule you for training at our corporate headquarters in Palo Alto, California. Once you have completed our training program, you can immediately initiate the marketing program.
Q: What size protected territory do I get? A: Franchises are being awarded now for "retirement magnets"-cities that are especially attractive to the older population. In general, franchise fees depend upon the size and type of territory:
US$14,950 for territories with less than 600,001 people US$19,950 for territories between 600,001 and 1 million US$24,950 for territories between 1 million and 1.5 million US$29,950 for territories between 1.5 million and 2 million US$34,950 for territories with greater than 2 million people
Hot Demographics The United States is at the beginning of a huge population trend The fastest growing segment of the population is over age 65 Of those who are 65 or older, 5 million receive home care services Approximately 2 million of these people pay privately for home care services-this translates to 740 people per population of 100,000
The Payoff The fee for a single client receiving 24 hour a day home care service ranges nationally from US$135 to US$245 per day (an average of US$200 per day), or... US$975 to US$1715 per week US$9,275 to US$89,425 US$246,375 to US$447,125 per 5-year period
The fee for a single client receiving hourly home care service ranges nationally from US$14 to US$24 per hour (an average of US$20 per hour), or... US$392 to US$672 per week US$20,440 to US$34,944 per year US$102,200 to US$174,720 per 5-year period
Source: MetLife Research Institute
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