Investment Analysis: Buying a Home Health Franchise
Thinking about buying a home health franchise? There’s never been a better time. Today’s post reviews the start-up costs and market metrics that make the Executive Care opportunity more valuable than ever.
Why Buying A Home Health Franchise Makes Sense In 2020
Is buying a home health franchise wise?
The answer varies depending on the brand you align yourself with. But there’s no denying that the senior home care industry is extremely profitable in 2019, with a financial forecast for the next few decades that’s hard to beat.
Here’s just a few reasons to seriously consider buying a home health franchise:
- 1 in 5 Americans will be over the age of 65 by 2030. That means 20% of the population becomes your target audience in the next decade.
- More than 10,000 people age past 65 each day. Few other industries boast this kind of consumer expansion.
- Unprecedented senior population growth is projected to continue past 2050. Don’t make the mistake of dismissing the senior population spike as a bubble. This trend is expected to continue for the foreseeable future, making buying a home health franchise one of the most resilient opportunities on the market.
- Low barriers to entry. Buying a home health franchise is more affordable than ever, thanks to Executive Care’s sleek home-based start-up model. Moreover, investors do not need to have any formal training or experience in senior care, nursing, or business management. It’s all covered in our training program.
- More than 90% of American seniors want home health care services, according to an AARP survey.
Buying A Home Health Franchise—a Closer Look At Start-up Costs
Though no two businesses are exactly alike, most initial investments range between $99,650 and $161,900. This amount includes the franchise fee, the cost of training, grand opening advertising, and all other start-up costs.
If that sounds like a lot, consider this: the average initial down payment required to start a fast food restaurant starts at about $500,000 (source: McDonald’s franchise website). That doesn’t include the recurring monthly service fees and rent payments, either.
Additionally, we recommend setting aside an additional $45,000 to $68,000 to use as working capital. This amount will also cover any shortfalls or emergencies that may occur during the first few months. But don’t worry: this amount is already included in the initial investment amount provided earlier. Whether or not you choose to partner with Executive Care, it’s a good idea to look for companies that use this same policy, since it’s a sure sign that they’re looking out for your best interests. Sure, it inflates the start-up amount a bit, which can deter some budget-conscious investors, but we’re about building successful businesses, not just collecting start-up fees. That’s the kind of company you want.
If you’re looking to save a little on your start-up, you may be in luck: Executive Care proudly participates in the International Franchise Association’s (IFA) VetFran program. If you are a veteran, you may be eligible for a 20% discount on your first territory fee. Second territories franchise fees are reduced to $35,900, and third territories go for as little as $29,500.
Learn More About Buying A Home Health Franchise With Executive Care
For a complete cost breakdown, territory system overview, and more training/support details, visit the Executive Care Franchise Website or call 1 (855) 393-2372 to begin your free consultation.