Start A Senior Care Franchise In 2020: 3 Ways Executive Care Kicks Down Common Entry Barriers
When you start a senior care franchise with Executive Care, you skirt 3 of the most common and costly business entry barriers. Today’s post explains how.
1. Executive Care Cuts Cost Barriers To Entry For Investors
Startup capital is undoubtedly the number-one entry barrier faced by prospective business owners.
If you want to cut cost barriers down to size, start a senior care franchise with Executive Care. We’ve spent more than 15 years honing our business model into a sleek, affordable, and immensely profitable opportunity.
By minimizing overhead costs, eliminating inventory, working with trusted vendors, and constantly passing savings down to the franchise owner, we reduced our total start-up investment to approximately $100,000. Of course, the total cost varies between investors, depending on local market prices and individual training requirements; most start-ups pay between $99,650 to $161,900 when it’s all said and done. Still, that’s a fraction of what you’d pay for the average fast food franchise.
This start-up investment includes the costs of your training, marketing, signage, website, and everything else you need to run your business. It also covers the franchise and territory fees, and factors in up to $68,000 of working capital, which is retained in case of emergencies or shortfalls in the early goings. Many franchise owners never dip into this emergency fund.
What’s more, in addition to reducing start-up costs, we can help you cover them. Executive Care proudly participates in the International Franchise Association (IFA)’s VetFran program, which provides eligible veterans with up to 20% off the initial territory fee. More discounts are available for additional territories, and we may be able to help with financing. Call 1 (855) 393-2372 to learn more.
2. Executive Care Kicks Down Knowledge Barriers To Entry
According to research by the Ruppin Academic Center’s Department of Economics and Management, high levels of professional knowledge create significant barriers to entry, which may require significant investments of time and money to overcome.
This is particularly true in the senior care industry, where business owners must provide skilled care services in order to meet market demands and stay competitive. Self-starters going it alone would need to complete senior care certifications at the very minimum, to say nothing of the knowledge required for effective marketing, hiring, sales, and business management.
But when you start a senior care franchise with Executive Care, knowledge barriers no longer exist. Everything you need to know is covered in our franchise training, the cost of which is already covered by your initial investment. And if you ever need additional help, continuing education and ongoing support are always available.
3. Executive Care Eliminates Reputational Barriers To Entry
Research by the American Economic Review shows that reputation poses significant barriers to entry, forcing start-ups to spend hand-over-fist on marketing and branding to convince local audiences of their worth. Nowhere is this more true than the senior care industry, where clients entrust you with the care and comfort of their loved ones.
When you start a senior care franchise with Executive Care, reputational barriers work for you, not against you. From the moment your doors open for business, you reap all the benefits of our sterling reputation, which includes more than 15 years of success stories, awards, and recognition as a top franchise.
Learn More About How To Start A Senior Care Franchise With Executive Care
Fill out the short form on the Executive Care Contact Page or call 1 (855) 393-2372 to talk to an Executive Care representative. All consultations are 100% free, with no sales pressure.