Funding Your Dream: How to Buy a Home Health Care Business in 2019
Are you ready to make money while making a difference in your community? Want to learn how you can take care of your future by helping others?
If you’ve ever dreamed of buying a home health care business, but lack specialized training and experience, the Executive Care franchise system might be the answer.
Our franchise system is proven, profitable, and within reach of anyone with the right attitude–and enough investment capital.
With that in mind, today’s post is all about how to buy a home health care business in 2019. Read on to learn what it costs to get started, how to acquire funding, and who to call for more information.
What Does it Cost To Buy A Home Health Care Business in 2019?
The Executive Care opportunity is available for as little as $99,750 to $151,000.
Our start-up investment includes:
- Initial franchise fee ($44,900), which gets you access to our brand name, national marketing power, exclusive rights to a territory with a population of 500,000 residents, all-inclusive training program, franchise support service, and proven business model. Third territories are reduced to $34,900 and third territories are only $26,900.
- Computer equipment ($2000 to $5000), including printer, fax, monitors, software, and more.
- Signage and trade dress ($1000 to $5000) to make your business look its best and generate ongoing impressions.
- Furniture, fixtures, equipment, and supplies ($1000 to $5000) so your office has all it needs to run smoothly from day-one.
- Building expenses ($600 to $2800), including prepaid rent, security deposit, and property improvements.
- Legal and incorporation fees and licenses ($3250 to $15,000), including insurance and bonds, to keep your company compliant with national standards and minimize liability issues.
- Travel, lodging, and meals ($500 to $2000) to get you through your initial training.
- Local advertising ($2000) to announce your grand opening and bring you business ASAP.
- Vehicle (0$ to $1000) to bring your care services right to clients and turn every commute into a marketing opportunity.
- Additional funds/working capital ($44,500 to $68,300) to support your business in the early stages and provide a safety net in case of any surprise expenses.
Executive Care also proudly offers a number of discount opportunities, such as the International Franchise Association’s (IFA) VetFran program, which provides America’s veterans with a 20% discount on the initial territory fee.
Financing your Dream to Buy A Home Healthcare Business
- Bootstrapping, which means financing yourself by scraping together personal funds (savings account, credit cards, home equity lines, etc), is far and away the best option. Using the funds you have instead of borrowing eliminates the headache and expense of extensive loans and monthly payments. It also ensures you retain full control of your business.
- Next, consider family and friends. Tapping those closest to you can be daunting, but it’s a reliable option for those seeking external funding. And while your brother, aunt, or best friend might not be in a position to finance your entire new homecare business, they can help you get the ball rolling.
- Now it’s time to start exploring some alternative sources. Micro-loan organizations, crowd funding sites, and local small business development centers are all worth a shot.
- Once you’ve exhausted other options, consider taking out loans.
- Whatever you decide, make sure you speak with an Executive Care representative. They will answer any questions you have about start-up costs, and may have some recommendations for local funding sources.
Learn More About The Executive Care Opportunities in Your Area
Call 1-855-393-2372 to book a free consultation with an Executive Care representative.