Evaluating Senior Care Franchise Opportunities: 5 Things to Look For
Today’s post shares 5 criteria you should use when evaluating senior care franchise opportunities.
#1: The franchise understands what clients want out of senior care.
If you’re trying to decide between different senior care franchise opportunities, consider first how each addresses these 3 essential client needs:
- Adequate staffing. Maintaining a “skeleton crew” may seem like a simple wage-saving option, but it’s really a recipe for disaster. When staff resources are stretched too thin, the quality of care drops significantly, along with client satisfaction ratings. Understaffed senior care franchises create more problems than they solve for clients, which makes for a disappointing ROI for their owners.As you may have read previously, Executive Care takes the science of staffing We help you create a business that’s equipped to handle surges of demand in your area with ease to ensure your clients are always satisfied with the level of care and attention they receive. In addition, we open our staffing excellence up to other businesses in the community, with our staffing services providing owners another revenue stream.
- Personal freedom. One of the most attractive parts of homecare service is how it allows the client to maintain their current lifestyle. Rather than living in a care center where meals, activities, and visitor hours occur according to a rigid schedule, homecare means living by your own rules.With this in mind, your chosen senior care franchise needs to strike a balance between hands-off living support and more direct, assertive forms of care, such as meal plan and medication adherence. In this way, you will be able to give clients both what they want (autonomy) and what they need (care).
- Continuum of care. Your clients want to know that their present and future caregiving needs are secure. This means choosing a senior care franchise with care options for all levels, rather than one that only offers basic service that aging clients will soon “grow out of.”Executive Care offers a tremendous continuum of care, ranging from intermittent housekeeping visits to intensive, skilled, live-in homecare suitable for all manner of mental and physical conditions.
#2: The franchise has proven success.
If you’re researching senior care franchise opportunities, be prepared to hear a lot of self-aggrandizing as different brands insist their system is best.
But, as the old saying goes, actions speak louder than words.
The value of Executive Care’s business model, marketing approach, and support services have been proven time and again over our 14-year history. In that time, we’ve improved quality of life for thousands of clients and helped build stronger communities. Moreover, our model has led dozens of franchise owners to impressive returns on their investment.
#3: The franchise offers territory protections.
Without territory protections in place, senior care franchises are forced to compete with each other. Executive Care uses a state-of-the-art demographics tool to work with you in developing your territory, which will be comprised of contiguous zip codes with healthy household incomes and a population of 500,000 people.
#4: The franchise offers robust revenue stream options.
Some senior care franchise opportunities are limited to one form of care, or even a handful, but Executive Care is different. Our franchise opportunity offers owners up to 7 different revenue streams ranging from light and intensive care to ridesharing and staffing services.
#5: The franchise is transparent about start-up costs.
Some senior care franchise opportunities put off answering the tough questions about start-up capital, but not Executive Care.
You can get a full, line-by-line breakdown of your predicted startup costs here.