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- 2022 Franchise 500 Rank
N/R Not ranked last year
- Initial investment
$100K - $170K
- Units as of 2020
23 21.1% over 3 years
Here’s what you need to know if you’re interested in opening a Executive Home Care franchise.
Executive Home Care was founded in 2004 and began franchising in 2012. The home health business serves seniors, the disabled, and those recovering from an illness or surgery in need of medical help at home. Executive Home Care values connection with their clients and an attitude of service.
Executive Home Care franchisees offer home health services, create and adhere to individualized plans of care, offer Alzheimer's and dementia care, light housekeeping and meal preparation, and companionship and peace of mind for their clients.
Since beginning to franchise, Executive Home Care has opened over 20 locations throughout the United States.
Why You May Want to Start an Executive Home Care Franchise
Executive Home Care values the client experience. Their service relies on a model of C.A.R.E, standing for shared values of Compassion, Attentiveness, Respect, and Excellence. A franchisee considering opening an Executive Home Care franchise will want to look into the company values and be committed to these same values. Potential franchisees should also agree to stay in compliance with state regulations.
An established customer base for Executive Home Care exists in the Northeast, as well as in Florida. Someone in these areas wanting to franchise may want to consider competition and the potential client base. Franchisees may grow if they can establish consistent clients, create an attitude of care and trust, and adhere to specific state guidelines regarding home healthcare.
Franchisees must be prepared to supervise and train a skilled team, demonstrate strong communication and time management skills, and understand the necessity of community ties.
What Might Make an Executive Home Care Franchise a Good Choice?
To be part of the Executive Home Care 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 fees and royalty fees. Franchisees will also need to meet the company's set net worth and liquid capital requirements.
Executive Home Care believes it offers some of the best training and support in the industry. They offer pre-opening training, in-class learning, continuing education, marketing, sales, and advertising resources. These may include website support, print materials, and public relations.
How To Open an Executive Home Care Franchise
It may not necessary to have a background in healthcare if you want to open an Executive Home Care franchise. People in backgrounds from restaurant management to accounting have experienced growth as Executive Home Care franchisees. However, a passion for the local community and dedication to people may make you a much more likely Executive Home Care franchisee candidate.
Before making any financial commitment or signing an agreement with Executive Home Care, perform your due diligence and establish if this is the right opportunity for you. As part of your research, you may want to keep a list of questions on-hand for your initial phone call interview, which may be the first step of your path to becoming an Executive Home Care franchisee. The next steps will include further interviews, a review of your proposed territory, discovery day, and finally, an Executive Home Care franchise agreement.
About Executive Home Care
- Franchising Since
- 2012 (10 years)
- # of employees at HQ
- # of Units
- 23 (as of 2020)
Information for Franchisees
Here’s what you need to know if you’re interested in opening a Executive Home 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.
- Initial Investment
- $99,650 - $169,900
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.
- 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.
- Cash Requirement
Definition: The minimum liquid capital you must have available in order to qualify to become a franchisee of this company.
- Veteran Incentives
- 20% off franchise fee
Definition: A discount or other incentive offered to military veterans who buy a franchise with this company.
- 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.
- Term of Agreement
- 10 years
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.
- Is franchise term renewable?
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
- Third Party Financing
- Executive Home Care 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.
- On-The-Job Training
- 40 hours
- Classroom Training
- 72 hours
- Additional Training
- Two visits to franchisee location per year
- Ongoing Support
Purchasing Co-opsNewsletterMeetings & ConventionsToll-Free LineGrand OpeningOnline SupportSecurity & Safety ProceduresField OperationsSite SelectionProprietary SoftwareFranchisee Intranet Platform
- Marketing Support
Ad TemplatesMarketing Planning & SupportSocial MediaSEOWebsite DevelopmentEmail Marketing
Additional details about running this franchise.
- Is absentee ownership allowed?
Definition: Absentee ownership means that the franchisee does not actively work in the franchise business or manage day-to-day operations.
- 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.
- 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.
- # of employees required to run
- 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.
Interested in franchise ownership like Executive Home Care? Request a free consultation with a Franchise Advisor now.
Franchise 500 Ranking History
Compare where Executive Home Care landed on this year’s Franchise 500 Ranking versus previous years.
Are you eager to see what else is out there? Browse more franchises that are similar to Executive Home Care.
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