Start a Golden Heart Senior Care Franchise in 2024

Franchise 500 Rank: N/R Not ranked last year

Initial investment: $69K - $97K

Units as of 2020: 24 17% over 3 years

Golden Heart Senior Care is an at-home companion care, home help, and personal care service for the elderly. Golden Heart Senior Care was founded in 2009. The following year, as demand rose, it began offering franchise opportunities. For those seniors who have reached a point where they can no longer live alone, Golden Heart Senior Care offers an assisted living placement service, as well.

Since beginning to franchise, Golden Heart Senior Care has opened over 20 franchises in the United States.

Why You May Want To Start a Golden Heart Senior Care Franchise

A Golden Heart Senior Care usually allows for absentee ownership, so a franchisee can hire someone else to work for them. If you are planning to be a hands-on franchisee, you will need to be caring, compassionate, friendly, and interested in the life stories of those under your care.

Because of the presence of potential absentee ownership, you don't necessarily need experience in the health or senior care field. However, prior experience in health or elderly care certainly wouldn't hurt. Golden Heart Senior Care typically offers its franchisees a comprehensive training program and complete support that covers the job recruitment process to intaking new clients. Franchisees will also need to undergo a thorough background check.

What Might Make a Golden Heart Senior Care Franchise a Good Choice?

A Golden Heart Senior Care franchisee will likely become an important part of their client's life and should be prepared to uphold the professional values that the company maintains. Franchisees should expect to provide a friendly, cheerful, and capable service, whether behind the scenes or as an administrator of care, on the daily.

You should also prepare to be on call at any time, day or night. Each client has different needs and you are expected to deliver quality care with each interaction.

To be part of the Golden Heart Senior Care franchise 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 and liquid capital requirements.

How To Open a Golden Heart Senior Care Franchise

Before making any financial commitment or signing an agreement, you must perform your due diligence. After taking character and job requirements, both as an absentee and fully-involved owner, into consideration, you should look at your local market and see if any other senior care services would be in direct competition with your franchise. Some competition is healthy, but too much could impact franchise growth.

As part of your due diligence, you may want to speak to existing franchisees and ask the Golden Heart Senior Care franchising team questions. For example, you may want to ask existing franchisees what the more challenging aspects of the job are and how they properly take care of clients while respecting the wishes of family and significant others.

With the backing of the brand and what may be an already good reputation in the market, you may be good as gold in a Golden Heart Senior Care franchise.

Company Overview

About Golden Heart Senior Care

Industry	Personal-Care Businesses
Related Categories	Senior Care
Founded	2009
Parent Company	Sarillian Management LLC
Leadership	Craig Bass, President
Corporate Address	7460 Warren Pkwy., #100 Frisco, TX 75034
Social	Facebook, Twitter, LinkedIn

Business Overview

Franchising Since	2010 (14 years)
# of employees at HQ	5
Where seeking	This company is offering new franchises throughout the US.
# of Units	24 (as of 2020)

Information for Franchisees

Here's what you need to know if you're interested in opening a Golden Heart Senior Care 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 Definition: The initial fee paid to a franchisor to join their system What you need to know: Found in Item 5 of the FDD, this may be a flat fee, or may vary based on territory size, experience, or other factors.The franchise fee is an up-front (one-time) cost that a new franchisee pays to the franchisor. This fee is usually due at the signing of the franchise agreement and covers the right to use the franchisor's trademarks, name, and related business systems.	$45,000
Initial Investment Definition: The total amount necessary to begin operation of the franchise What you need to know: The initial investment includes the franchise fee, along with other startup expenses such as real estate, equipment, supplies, business licenses, and working capital. This is outlined in a chart in Item 7 of the FDD, showing a range of possible costs from low to high.	$68,925 - $96,750
Net Worth Requirement Definition: The minimum net worth you must have in order to qualify to become a franchisee of this company What you need to know: Net worth is the value of a person's assets minus liabilities. Assets include cash, stocks, retirement accounts, and real estate. Liabilities include items like mortgages, car payments, and credit card debt.	$150,000
Cash Requirement Definition: The minimum liquid capital you must have available in order to qualify to become a franchisee of this company.	$100,000
Veteran Incentives Definition: A discount or other incentive offered to military veterans who buy a franchise with this company.	10% off franchise fee
Royalty Fee Definition: A ongoing fee paid to the franchisor on a regular basis. What you need to know: Most franchisors require franchisees to pay an ongoing royalty fee, which is detailed in Item 6 of the FDD. This fee is typically a percentage of weekly or monthly gross sales, but may also be a flat weekly, monthly, or annual fee.	5%
Ad Royalty Fee Definition: An going fee paid to the franchisor on a regular basis to support advertising or marketing efforts. What you need to know: This may also be called advertising fee, marketing fee, brand fund fee, and more, but the basic purpose is the same-- to support promotion of the brand systemwide. As with the royalty fee, it is detailed in Item 6 of the FDD, and can be a percentage of weekly or monthly gross sales or a weekly, monthly, or annual fee.	2%
Term of Agreement Definition: The length of time your franchise agreement will last. What you need to know: Franchise terms are typically anywhere from 5 to 20 years in length, but are sometimes instead dependent on factors such as the term of your lease. Once your term is up, you may have the option to renew your agreement, typically for a smaller fee than the original franchise fee.	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	Golden Heart Senior Care has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, payroll

Training & Support Offered

Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.

Classroom Training	44 hours
Ongoing Support	Toll-Free Line Online Support Security & Safety Procedures Field Operations Proprietary Software Franchisee Intranet Platform
Marketing Support	Co-op Advertising Ad Templates Regional Advertising Social Media SEO Website Development

Operations

Additional details about running this franchise.

Is absentee ownership allowed?	Yes
Can this franchise be run from home/mobile unit? Definition: The business can be run from your home and/or a vehicle, and it is not necessary to have a retail facility, office space, or warehouse.	Yes
Can this franchise be run part time? Definition: This business can be run by the owner on a part-time basis (less than 40 hours per week) and/or as a side business; it is not necessary for the business to be open/run full-time.	No
# of employees required to run	1
Are exclusive territories available? Definition: An exclusive territory is a fixed area in which you are given the right to operate and in which no other units of the same franchise may be opened. What you need to know: Territory size may be based on factors such as radius, population size, zip codes, and more. Details can be found in Item 12 of the FDD.	Yes