Franchise Players is Entrepreneur’s Q&A interview column that puts the spotlight on franchisees. If you're a franchisee with advice and tips to share, email email@example.com.
For 27 years, Michael Savoie and the rest of his family owned and operated two restaurants in Stratford, Conn. The restaurants gave Savoie plenty of business experience, as well as a sense of the local community – two things he was able to bring to the franchise industry. In September, Savoie, along with this sister and mother, opened up an Executive Care office while continuing to run one of the restaurants. The senior care service offers the Savoie family a new way to help their community.
Here's how the Savoies turned franchising into a family business.
Name: Michael Savoie, operates with assistance from family
Franchise owned: Executive Care in Stratford, Conn.
How long have you owned a franchise?
I signed an agreement with Executive Care in June 2014, and opened in September of 2014.
Franchising provides support and guidance. The business model is already established and proven, which allows me to focus on the care of our clients and daily operations.
What were you doing before you became a franchise owner?
My family and I owned and operated two restaurants in the Stratford area for 27 years. This has given us a lot of experience in managing business operations and logistics.
Why did you choose this particular franchise?
We are a compassionate family and enjoy being a part of the community. Executive Care allows us to continue serving our community while providing necessary services. There is a demand for quality home healthcare services and we are prepared to supply them.
How much would you estimate you spent before you were officially open for business?
We will be opening up two offices. The second will open in Stamford. The franchise fee for the first office was $35,000, the second is $28,000. By the time we open both, we'll have spent around $80,000-100,000. This includes roughly $10,000 on promotional marketing needs, $8,000 on insurance and licensing and $9,000 on rent and utilities. There are other costs too, like a wrapped car, computers, training and furniture.
Where did you get most of your advice/do most of your research?
Executive Care has a very supportive team who has helped straighten out all the details. We also worked closely with a franchise consultant. Plus, the web has proved to be very useful in getting answers to all our questions.
What were the most unexpected challenges of opening your franchise?
The most unexpected challenge so far has been the licensing process. It has been difficult to figure out Connecticut’s home health care licensing requirements for different levels of care. But, there are challenges with everything, right?
What advice do you have for individuals who want to own their own franchise?
I would suggest that they really look into the state they are hoping to open in. Each state has different rules and regulations. Some states are tougher and require more steps.
What’s next for you and your business?
Finalizing all of our licensing and continuing to make an impact in the lives of the people we serve.