Options For Senior America
Senior care
- 2023 Franchise 500 Rank
-
N/R Not ranked last year
- Initial investment
-
$86K - $110K
- Units as of 2022
-
18 0.0% over 3 years
Options For Senior America was founded in 1990 and began franchising in 2005. The founders held the belief that senior citizens should have access to quality home care.
More and more elderly individuals are choosing to remain in their homes instead of going to a care facility. This is creating the need for caretakers who will visit clients in their homes. Options For Senior America strives to offer clients caretakers who will meet their needs in a personable and caring way.
Options for Senior America has opened several locations across the United States and is seeking to expand its reach even further.
Why You May Want To Start an Options For Senior America Franchise
Franchisees with Options for Senior America do not need to have experience in the homecare industry. While experience in the industry may be helpful, the company provides comprehensive training to all Options For Senior America franchisees.
The ideal franchisee should be hardworking, personable, and caring. Since franchisees and employees will constantly be interacting with clients, they need to be compassionate. Options For Senior America franchisees typically have good networking skills, business ethics, and customer service skills. Franchisees need to be able to follow the business model.
What Might Make an Options For Senior America Franchise a Good Choice?
Options For Senior America offers franchisees exclusive territories This typically gives franchisees a good area to develop their business. Franchisees may offer services outside their territory if there are no local Options For Senior America franchising in that area.
Options For Senior America offers franchisees incentives during the first two months of operation. These incentives are meant to help with startup costs.
To be part of the Options For Senior America 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 an Options For Senior America Franchise
Before signing any agreements with Options For Senior America, it's always a good idea to thoroughly research the company and the local competition. Additionally, you may want to prepare questions to ask the franchising team as part of your due diligence process. Franchisees usually go to the Options For Senior America corporate office in Gaithersburg, Maryland, meet with the team, see the tools and systems they'll be using, and see how a franchise is operated.
If awarded a franchise, Options For Senior America franchisees will also participate in a multi-day training program. Franchisees will receive marketing support through materials such as artwork, print-ready advertisements, logos, and more. They receive access to software that helps track clients, care recipients, care providers, and referral sources. Additional software helps franchisees track employee hours and pay.
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 Options for Senior America franchise.
Company Overview
About Options For Senior America
| Industry | Personal-Care Businesses |
|---|---|
| Related Categories | Senior Care |
| Founded | 1990 |
| Leadership | Ramzi Rihani, CEO |
| Corporate Address |
555 Quince Orchard Rd., #240 Gaithersburg, MD 20878 |
| Social | Facebook, Twitter, LinkedIn, YouTube |
Business Overview
| Franchising Since | 2005 (18 years) |
|---|---|
| # of employees at HQ | 8 |
| Where seeking |
This company is offering new franchisees worldwide. This company is offering new franchisees in the following US states: Alaska, Alabama, Arkansas, Arizona, Colorado, Connecticut, District of Columbia, Delaware, Florida, Georgia, Hawaii, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Massachusetts, Maryland, Maine, Michigan, Minnesota, Missouri, Mississippi, Montana, North Carolina, North Dakota, Nebraska, New Hampshire, New Jersey, New Mexico, Nevada, New York, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Vermont, Washington, Wisconsin, West Virginia, Wyoming |
| # of Units | 18 (as of 2022) |
|
|
|
Information for Franchisees
Here's what you need to know if you're interested in opening a Options For Senior America 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
|
$47,500 |
|---|---|
|
Initial Investment
|
$85,800 - $110,400 |
|
Net Worth Requirement
|
$300,000 |
|
Cash Requirement
|
$86,000 - $110,000 |
|
Veteran Incentives
|
$3,000 off franchise fee |
|
Royalty Fee
|
4.75% |
|
Ad Royalty Fee
|
0.5% |
|
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 | Options For Senior America 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 | 40 hours |
|---|---|
| Ongoing Support |
Purchasing Co-ops
Newsletter
Meetings & Conventions
Toll-Free Line
Grand Opening
Online Support
Security & Safety Procedures
Field Operations
Site Selection
Proprietary Software
Franchisee Intranet Platform
|
| Marketing Support |
Ad Templates
Social Media
SEO
Email Marketing
|
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 |
Interested in ownership opportunities like Options For Senior America? Request a free consultation with a Franchise Advisor now.
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