Careshyft
Nonmedical home care
- 2022 Franchise 500 Rank
-
N/R Not ranked last year
- Initial investment
-
$77K - $148K
- Units as of 2020
-
2 0.0% over 3 years
Here’s what you need to know if you’re interested in opening a Careshyft franchise.
Careshyft is a home care company for seniors that operates under the ideology that the best care is home care. The company focuses on helping seniors retain their independence and provide families with peace of mind through excellent care. Its partnership with the Home Care Association of America may give customers confidence in the quality and standard of care provided by Careshyft.
Services provided by Careshyft may include companion care, personal care, homemaking duties, Alzheimer’s and dementia care, and stroke and Parkinson’s care. The company also boasts 24/7 on-call support, fully insured and screened caregivers, and a dedication to customer satisfaction. Potential clients can also request free consultations for care from the website’s homepage.
Careshyft was founded in 2016 and began franchising two years later. Since then, it has opened a few franchises in the United States.
Why You May Want to Start a Careshyft Franchise
An agreement between a company and employees who want to make a positive difference could be a strong foundation for good care. These are the values that may underpin all aspects of Careshyft, from staff acquisition to vendors to training.
Careshyft recognizes challenges in the market, such as the availability of caregivers for an ever-growing senior population. Because of this, they have tried to take steps to mitigate the effect on their franchisees through creative team growing strategies.
What Might Make a Careshyft Franchise a Good Choice?
Careshyft’s unique approach to hiring and maintaining staff can provide peace of mind for customers and owners alike. The TRUST process continuously monitors staff dependability, reliability, honesty, and attitude. This process could benefit customers, who may be able to rest easy with the knowledge that they are getting trustworthy staff. It also can provide franchisees with confidence in the staff they are employing.
To be part of the Careshyft team, you should make sure you’re financially ready for an initial investment made up of a franchise fee and other startup costs. In addition, you should prepare yourself for ongoing fees that will include advertising, royalty, and potential renewal fees. Franchisees will also need to meet the company’s set net worth requirements.
How To Open a Careshyft Franchise
Before making any financial commitment or signing an agreement with Careshyft, it is crucial that you perform your due diligence and establish if this is the right opportunity for you. As part of your due diligence, you may want to speak to existing franchisees and ask the Careshyft franchising team questions. Franchisees may be given the opportunity to have one-on-one conversations with the executive team during their training. Other support could include extensive role-playing of care situations and customer calls.
If awarded a franchise, franchisees may receive support from the Careshyft brand throughout the franchising process. In addition to pre-opening training, franchisees could receive support through brand awareness, marketing, research, and construction. Franchisees may also receive hands-on training and continued support after opening their franchise location.
It may be a good idea to speak with an attorney or financial advisor to ensure that you have the necessary financial resources to own and operate a Careshyft franchise.
Company Overview
About Careshyft
- Industry
- Personal-Care Businesses
- Related Categories
- Senior Care
- Founded
- 2016
- Parent Company
- Careshyft
- Leadership
- David Goodman, President
Franchising Overview
- Franchising Since
- 2018 (4 years)
- # of employees at HQ
- 10
- Where seeking
-
This company is seeking new franchisees throughout the US.
- # of Units
- 2 (as of 2020)
Franchisor Information
Information for Franchisees
Here’s what you need to know if you’re interested in opening a Careshyft franchise.
Financial Requirements & Ongoing Fees
Here’s what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.
- Initial Franchise Fee
- $34,750 - $46,500
- Initial Investment
- $76,790 - $148,409
- Net Worth Requirement
- $40,000 - $50,000
- Veteran Incentives
- 10% off franchise fee
- Royalty Fee
- 4-5%
- Ad Royalty Fee
- 1%
- Term of Agreement
- 10 years
- Is franchise term renewable?
- Yes
Financing Options
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
- Third Party Financing
- Careshyft has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, payroll
Training & Support Offered
Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.
- Classroom Training
- 61.5 hours
- Ongoing Support
-
Purchasing Co-opsNewsletterMeetings & ConventionsToll-Free LineGrand OpeningOnline SupportSecurity & Safety ProceduresLease NegotiationField OperationsSite SelectionProprietary SoftwareFranchisee Intranet Platform
- Marketing Support
-
Co-op AdvertisingAd TemplatesRegional AdvertisingSocial MediaSEOWebsite DevelopmentEmail MarketingLoyalty Program/App
Operations
Additional details about running this franchise.
- Is absentee ownership allowed?
- No
- Can this franchise be run from home/mobile unit?
- No
- Can this franchise be run part time?
- No
- Are exclusive territories available?
- Yes
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