5 Ways Elder Care Franchise Ownership Guarantees Competitive Advantages
In 1985, Harvard Business School professor Michael Porter wrote Competitive Advantage, which quickly became the definitive business school resource on the topic. The term “competitive advantage” is broadly defined as the leverage that a business has over its competitors, and it encompasses many things. Porter defined three major sources of competitive advantage – cost leadership strategy, differentiation strategy, and focus strategy – but Executive Care boasts double that amount!
Accordingly, today’s post spotlights 5 ways elder care franchise ownership under the Executive Care banner guarantees competitive advantages. Read on for a 10-point value assessment detailing important parts of the Executive Advantage.
- Increase your liquidity with low start-up costs. Start-up costs have far-reaching implications for your long-term competitive advantage. Companies who gouge you right out of the gates leave little liquidity for you to capture emergent opportunities or respond properly to threats. But with Executive Care, elder care franchise ownership is possible for about $100,000, which includes $44,500 to $68,300 of your own working capital. When compared to what you’d pay elsewhere for elder care franchise ownership, the value of our opportunity truly shines. And don’t mistake our cost leadership strategy for a quality cut, either. This price is made possible by optimized processes, hard-earned vendor discounts, and “fat-free” training programs. Our franchisees still enjoy premium training and support services.
- Access multiple revenue streams with service differentiation. Differentiation strategy is all about developing unique products for services for different customer segments, thereby allowing the owner to access multiple revenue streams simultaneously. This is exactly what we practice at Executive Care. Pursuing elder care franchise ownership with us gets you access to 7+ revenue streams, including non medical home care, companionship, transportation, housekeeping, and more.
- Protected territories to eliminate inter-franchise competition. Pursuing elder care franchise ownership with Executive Care gets you access to protected territories that give you exclusive company rights to up to 500,000 residents. That means no other Executive Care owners will ever take business away from you, so that you get 100% of the benefit of our national marketing and branding efforts.
- Industry-leading training and support services. Our training and support programs make it possible for anybody with the right attitude and work ethic to develop into a leader in the senior care industry. We cover everything from front-line care to marketing and back-office processes, and retain support staff 24/7 to respond to franchise owners in need. In addition to on-site coaching and support services, we make our web resources for troubleshooting and continuing education available anytime, from any mobile and internet-enabled device.
- Proven systems and highly efficient processes. Executive Care began with a solid business model back in 2004. But we never stopped improving. In the 15 years since our first location opened its doors, we’ve submitted our process to rigorous testing and evaluations to eliminate redundancies, cut the fat, and maximize opportunities for our owners. And we’re not done yet – our highly efficient processes are constantly being tweaked and informed by franchise owner input.
Truth be told, these 5 factors are only scratching the surface of the competitive advantages we offer. Learn more about how we support your elder care franchise ownership at https://www.executivehomecarefranchise.com.