Do You Have What It Takes to Run a Homecare Agency Franchise?
Today’s post runs through 3 major criteria for candidates hoping to start successful homecare agency franchises: personality traits, skills, and investment capital.
Read on to learn whether running a senior home care franchise with the Executive Care is right for you.
Top Personality Traits for A Successful Homecare Agency Franchise Owner
There are hundreds of remarkable character and personality traits that define you and other successful business owners. But when you compare some of the top players in the homecare agency franchise world, a handful of characteristics rise to the top.
A 2018 article by The Balance: Small Business identified some of the traits for ideal entrepreneurial candidates, many of which apply to owning a homecare agency franchise.
Do you identify with the following profile? If so, starting a homecare agency franchise might be for you.
- Driven. Successful homecare agency franchise owners are driven to succeed. They recognize America’s rising senior care needs and want to make a difference.
- Goal-oriented. Without direction, drive is wasted. Successful homecare agency franchise owners know the importance of setting (and smashing) goals on a regular basis.
- Compassionate. Working in the senior care industry demands a certain level of compassion and empathy. Clients can tell the difference between genuine caregiving and jobbers who are going through the motions!
- Coachable. Entrepreneurs should have strong vision and intrinsic motivation, but they also need to be willing to accept advice and follow established processes in order to succeed in franchising.
- People-person. If you don’t like interacting with people, you’ll struggle to run a homecare agency franchise. And that doesn’t you need to be on the front lines of care, either–even executive-level involvement requires lots of facetime with investors.
You’re More Qualified than you Think
If you’ve got the right personality for the job, you’re already halfway there. It’s a common misconception that successful homecare agency franchise owners require medical, nursing, or managerial backgrounds before entering into our system. In reality, some of our most successful franchise owners came to us with almost no relevant skills or experience.
Our training system can bring anyone up to speed, provided they have the right attitude and work ethic. We cover everything from website management and local marketing to hands-on caregiving and business goal-setting. And if you stumble at any point, we’ll pick you up–our responsive support services and on-site coaching visits are designed specifically for that reason.
Meeting Investment Capital Requirements
Do you have the means to start a homecare agency franchise?
On average, the minimum initial investment for an Executive Care business is approximately $99,750. This covers everything you’ll need to get started, including:
- The initial franchise fee, which gets you access to our proven proprietary system, streamlined training program, top-tier support services, and authoritative brand name
- All required office equipment, including computer systems (hardware and software), furniture and fixtures, notary supplies, and signage/trade dress
- Prepaid rent, security deposit, and building improvements
- All insurance fees and bonds
- Grand opening advertising
- Vehicle expenses
- Travel, lodging, and meals for your initial training
Additionally, this approximate investment includes $44,500 to $68,300 of your own working capital. This will act as an emergency fund to protect against shortfalls or cover the costs of sudden expenses that arise during the early months of your new business venture.
If you’re coming up a little short, don’t fret. We offer discounted franchise fees for:
- Investors looking to purchase multiple territories
- Honorably discharged veterans, as made possible by our proud participation in the International Franchise Association’s (IFA) VetFran program
To learn more about the discounts we offer and how we can assist you with financing, get in touch with our team by visiting https://executivehomecarefranchise.com or calling 1-(855)-393-2372 today.