Signing out of account, Standby...
- 2022 Franchise 500 Rank
N/R Not ranked last year
- Initial investment
$95K - $139K
- Units as of 2022
2 100.0% over 3 years
Here’s what you need to know if you’re interested in opening a GreenLight Mobility franchise.
GreenLight Mobility is a home modification company with a mission to make living in one's home a safe option, despite life's challenges. Such challenges could come in the form of old age, disability, or any other circumstances resulting in modifications to houses or apartments.
GreenLight Mobility originated from a company called Back Home Safely which Gregg and Karen Frank founded in 2007. The couple's mission is to help people stay in their own homes despite various obstacles. With the help of their staff carpenters, they have created safe and accessible environments for over 4,000 New Jersey families. Gregg and Karen actively teach occupational therapists, case managers, physical therapists, and social workers.
To expand the business, Karen and Gregg created the GreenLight Mobility franchise in 2016. Duplicating the business model of Back Home Safely, GreenLight Mobility franchise has the vision to create safe and accessible homes not just in New Jersey but across the US.
Why You May Want To Start a GreenLight Mobility Franchise
A GreenLight Mobility franchise may be an excellent option for franchisees who have a strong desire to help other people achieve independence. A study by Minsoo Kang reports that of all senior citizens living in America, 18% of them will have a disability. This equates to more than 50 million Americans who struggle to function daily in their environments.
Over the age of 65, 32% of people will have difficulties walking, necessitating walkers, wheelchairs, and canes. GreenLight Mobility is one opportunity to consider if helping others appeals to you. With a GreenLight Mobility franchise, you'll have the chance to collaborate with expert therapists and business owners from which you can replicate brand growth.
What Might Make a GreenLight Mobility Franchise a Good Choice?
To become a GreenLight Mobility franchisee, you don't need to have a particular skill with in-home modifications from the get-go. The GreenLight Mobility team will give franchisees the training and resources they need to thrive. As with any business, GreenLight Mobility expects to receive your hard work and commitment. They expect you to be a hands-on owner, as absentee ownership is not available.
You should also make sure you're financially ready for an initial investment made up of a franchise fee and other startup costs to be part of the GreenLight Mobility team. In addition, you should prepare yourself for ongoing fees that may 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 GreenLight Mobility Franchise
Before shelling out money or signing any papers, you should complete your due diligence, including ample research. First, see if any potential customers in your area may benefit from a GreenLight Mobility franchise. Furthermore, you should ask yourself if opening a GreenLight Mobility is the right opportunity for you. Are you ready to fully commit to learning how to do home modifications from the experts at GreenLight Mobility?
If you are still unsure about anything, you can prepare some questions to ask the company or other experienced franchisees.
About GreenLight Mobility
- Franchising Since
- 2019 (3 years)
- # of employees at HQ
- Where seeking
This company is seeking new franchisees in the following US states: Arizona, Colorado, Connecticut, Delaware, Florida, Iowa, Kansas, Massachusetts, Maine, Missouri, North Carolina, New Hampshire, Nevada, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Vermont, West Virginia
- # of Units
- 2 (as of 2022)
Information for Franchisees
Here’s what you need to know if you’re interested in opening a GreenLight Mobility 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
- $38,500 - $43,500
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
- $94,800 - $138,800
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
- $5,000 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.
- 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.
- 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
- GreenLight Mobility has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory, 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
- 51 hours
- Classroom Training
- 69 hours
- Ongoing Support
Purchasing Co-opsMeetings & ConventionsGrand OpeningSecurity & Safety ProceduresField Operations
- Marketing Support
Co-op AdvertisingAd TemplatesNational MediaRegional AdvertisingSocial MediaSEOWebsite DevelopmentEmail MarketingLoyalty Program/App
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 GreenLight Mobility? Request a free consultation with a Franchise Advisor now.
Are you eager to see what else is out there? Browse more franchises that are similar to GreenLight Mobility.
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