Separating the Wheat from the Chaff in Senior Care
To “separate the wheat from chaff” is to sort the valuable from the worthless; “chaff” is the thin, dry, scaly bracts that form a dry husk around the precious grain in cereals like rice, barley, oats, and wheat.
When it comes to home health franchises for sale, the “chaff” is any company that’s going to lead you astray or leave you high-and-dry, despite the promises made on their website. They’re the companies that aren’t worth your effort or investment.
Accordingly, today’s post is about separating the wheat from the chaff, and specifically what you should expect from quality senior care companies.
So without further ado, read on to learn what to look for to set yourself up for success in the senior care industry.
What to Look For in a Home Health Franchise for Sale
- A History of Success. It’s often said that senior care is a “trust-based business” from the consumer side. And it’s not hard to see why: a successful sale essentially involves you convincing the client to entrust the health and safety of their aging parents to strangers. Accordingly, consumers tend to choose trustworthy businesses.
Likewise, the process of choosing a home health franchise for sale is trust-based. When you hand over your investment, you’re trusting your chosen brand to fulfill their end of the deal by giving you access to a proven system and providing ongoing support. Smart business people avoid “blind faith” investments. And the best way to ensure your trust in a home health franchise for sale isn’t misplaced is by choosing a brand with a history of success.
Executive Care has been a leader in the senior care industry since 2004. In those 15 years, we have established ourselves as a trustworthy, high-value home health franchise for sale, having helped numerous entrepreneurs bring the business of their dreams into reality. You can learn more about our history of success here.
- Reasonable Start-Up Fees. If you see a home health franchise for sale at a price that significantly undercuts the market standard, be careful! Quality senior care franchises typically factor chunks of working capital into start-up investments in order to protect against shortfalls in the early goings. This means that they will not be priced to undercut other opportunities. Shockingly low start-up fees are usually an indicator of a low-quality brand that will not provide comprehensive support services.
On the flip side, be wary of any home health franchise for sale at an exorbitant amount. One of the major advantages of a home care company is that it minimizes the expenses associated with big brick-and-mortar businesses. This advantage should be reflected in the start-up fee. If the franchise has a high start-up investment, it should be broken down in a way that makes sense. If their breakdown seems shady or unreasonable, it probably is!
For context, the Executive Care franchise opportunity costs only $100,000, and that includes up to $68,000 of your own working capital. You can view a complete itemized breakdown of our start-up fees here.
- Comprehensive Training and Support. To excel in the senior care business, you need more than compassion and a willingness to help. Your chosen franchise should offer complete training and support for operations, sales, hands-on care, staff management, marketing, back-office bookkeeping, technical skills, and more. And while previous experience is always an asset, your chosen company should be able to train new entrants into experts from scratch. At Executive Care, some of our most successful franchisees entered into our franchise family without any relevant skills or experience.
- A Complete Continuum of Care Services. Avoid companies that limit their care services to one or two specific needs. America’s senior care needs are diverse, and individual care needs change dramatically over time. By offering a complete continuum of care services, from light housekeeping and companionship to full-on dementia support and skilled, live-in caretaking, you maximize your profitability and are able to serve the same customers as their needs develop over the years.
Learn more about Executive Care at https://www.executivehomecarefranchise.com