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Franchise 500 2023
Franchise 500 Rank
N/R Not ranked last year
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Initial investment
$77K - $148K
Units as of 2020
2 Increase 0.0% over 3 years

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.

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Company Overview

About Careshyft

Industry Personal-Care Businesses
Related Categories Senior Care
Founded 2016
Parent Company Careshyft
Leadership David Goodman, President
Corporate Address 174 Nassau Street
Princeton, NJ 08542
Social Facebook, Twitter, LinkedIn, YouTube

Business Overview

Franchising Since 2018 (6 years)
# of employees at HQ 10
Where seeking

This company is offering new franchises throughout the US.

# of Units 2 (as of 2020)

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 Information Circle
$34,750 - $46,500
Initial Investment Information Circle
$76,790 - $148,409
Net Worth Requirement Information Circle
$40,000 - $50,000
Veteran Incentives Information Circle
10% off franchise fee
Royalty Fee Information Circle
4-5%
Ad Royalty Fee Information Circle
1%
Term of Agreement Information Circle
10 years
Is franchise term renewable? Yes
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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-ops
Newsletter
Meetings & Conventions
Toll-Free Line
Grand Opening
Online Support
Security & Safety Procedures
Lease Negotiation
Field Operations
Site Selection
Proprietary Software
Franchisee Intranet Platform
Marketing Support
Co-op Advertising
Ad Templates
Regional Advertising
Social Media
SEO
Website Development
Email Marketing
Loyalty Program/App

Operations

Additional details about running this franchise.

Is absentee ownership allowed? No
Can this franchise be run from home/mobile unit? Information Circle
No
Can this franchise be run part time? Information Circle
No
Are exclusive territories available? Information Circle
Yes
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Disclaimer
The information on this page is not intended as an endorsement or recommendation of any particular franchise or business opportunity by Entrepreneur Media. Our listings and rankings are solely research tools you can use to compare opportunities. Entrepreneur stresses that you should always conduct your own independent investigation before investing in a franchise or business opportunity. That should include reviewing the company's legal documents, consulting with an attorney and an accountant, and talking to former and current franchisees/licensees/dealers.
Updated: December 12th, 2022