How Reputational Capital Affects a Homecare Franchise Opportunity
Reputational capital is the metaphorical “dollar amount” at which your brand is valued. It is the sum total of your good name, rave reviews, and legal history (or lack thereof!).
And it’s absolutely vital in senior care, which has been dubbed a “trust-based industry.” That designation is spot-on; after all, nobody is going to entrust the care of their loved ones to an organization that lacks credibility. Accordingly, entrepreneurs short on reputational capital will have a tough time taking advantage of a homecare franchise opportunity, no matter how big this market is getting.
But how do you measure reputational capital? And, more importantly, how do you build it?
Today’s post answers both these questions by taking a closer look at the sterling reputation Executive Care has built through more than 14 years of committed service. Read on to learn more about some of the intangibles that make our homecare franchise opportunity so valuable, and find out whether our model is right for you.
Clients reviews from third party websites
Review sites aren’t perfect, but they’re useful tools that have serious impacts on the value of a homecare franchise opportunity.
Run a quick Google search for “[homecare franchise opportunity brand name] reviews” and see what turns up on the popular platforms.
- Yelp rates Executive Home Care 5/5 stars;
- Facebook’s business review tool is growing in popularity, and currently rates Executive Care 4.6/5 stars;
- Caring.com rates Executive Care of Clearwater 5/5;
- RateABiz gives Executive Care 4.5/5 stars.
Endorsements from ethical overseers
The Better Business Bureau (BBB) is a non-profit corporation that uses an Accredited Businesses system to rank businesses, charities and non-profit organizations. They’re what we call “ethical overseers.”
To date, the BBB has been helping people make smarter consumer choices for over 100 years. They set standards for ethical business behavior and monitor compliance; identify trustworthy businesses and flag those that aren’t; and even set and monitor criteria for ethical advertising. So when they talk, consumers listen.
Executive Care’s Hackensack, NJ location is currently enjoying an A+ rating with the BBB, based on a number of factors including:
- Time in business;
- Transparency of business practices;
- Complaint resolution;
- Known advertising issues;
- Known licensing and government actions against the party in question;
- Track record honoring commitments to the BBB, and more.
Authentic testimonials from happy franchisees
Pay attention to what other investors and former franchisees are saying about the brand. When it comes to reputational capital, this will be one of the most valuable forms of currency.
Some businesses do a great job of accumulating positive reviews from clients, but treat their franchisees so poorly that their reputational capital plummets in the eyes of investors.
This obviously hurts a brand’s prospects for enterprise-level growth, and in doing so, caps the power of the franchisor’s national marketing capacity, as well as the comprehensiveness of their support services, which negatively impact the individual franchisee.
Look for testimonials from former franchisees and take advantage of any opportunities you have to speak candidly with current franchisees. We include opportunities to speak with our franchisees at multiple stages of our “Steps to Ownership,” and encourage you to come hard with tough questions!
Find a homecare franchise opportunity with real reputational capital
Unfortunately for competitors, there’s no shortcut to an A+ rating,a wealth of positive reviews, or an archive of genuine franchisee testimonials. You simply have to walk the walk for years and years, delivering top-tier home care services through an efficient and enjoyable business model, and the accolades will come.
That’s what Executive Care has done, and our homecare franchise opportunity is waiting for you! Learn more at https://www.executivehomecarefranchise.com.