Signing out of account, Standby...
- 2022 Franchise 500 Rank
#269 Not ranked last year
- Initial investment
$91K - $163K
- Units as of 2021
215 20.1% over 3 years
Here’s what you need to know if you’re interested in opening a Homewatch CareGivers franchise.
For more than four decades, Homewatch CareGivers has worked hard to make a positive change in their clients' lives by providing premier in-home services. The target market usually includes people who need care services. This may include the elderly, injured, or people living with dementia, Alzheimer's, or developmental conditions. Entrepreneurs are generally wanted for the home care franchise program.
Homewatch CareGivers was founded in 1976 and began franchising two decades later, in 1996. It is under the umbrella of parent company Authority Brands LLC.
Why You May Want to Start a Homewatch CareGivers Franchise
There is a demand for home care services and a growing trend in the industry. Homewatch CareGivers’ corporate team may support you with the necessary training to help you with your business. This support comes through the business management system. Before you get started, you might receive pre-training, training week support, an in-field launch visit, and a dedicated launch coach. As a Homewatch CareGivers franchisee, you may feel at home and get ongoing support through your journey of providing in-home services. You may also give companionship to some of the elderly who are lonely and long for loved ones.
What Might Make a Homewatch CareGivers Franchise a Good Choice?
By joining Homewatch CareGivers, you may offer an essential service to your community. The client acquisition model includes proper market positioning and strategic planning. This may enable you to recruit clients looking for non-medical in-home services with relative ease.
To open a Homewatch CareGivers franchise, you should make sure you’re financially ready for an initial investment and potential set-up fees. These usually cover the following costs: the franchise fee, HIPAA materials fee, office equipment, and computer hardware, insurance, telephone systems, training expenses, license, permits and professional fees, and lease and security deposit.
The initial cost also generally includes additional funds for multiple months of operations. With what may be a high demand for caregiving services and the labor market ready and willing for such roles, you may see success with your location. In addition, there is a growing older population that needs care more than ever.
How Do You Open a Homewatch Caregivers Franchise?
There are a few steps to becoming a Homewatch CareGiver franchisee. First, you may submit a franchise request form. You may then get detailed information from the franchise consultant via a webinar. You might then be required to complete and submit the confidential financial information form.
After this, you may receive the Franchise Disclosure Document and become more familiar with the client acquisition model. To review the proprietary market action plan process, the franchise consultant usually takes you through a call and another webinar. The final webinar may take you through the sixth step, which is learning how to manage your team and the support you will receive.
After you complete the three webinars, you may be required to complete the personal franchise assessment online. You may then schedule a visit to company headquarters in Greenwood Village, Colorado to meet the team. In this final step, both you and the company may decide if you would like to embark on a business relationship.
About Homewatch CareGivers
- Franchising Since
- 1996 (26 years)
- # of employees at HQ
- Where seeking
This company is seeking new franchisees throughout the US.
This company is seeking new franchisees in the following international regions: Central America, South America, Mexico
- # of Units
- 215 (as of 2021)
Information for Franchisees
Here’s what you need to know if you’re interested in opening a Homewatch CareGivers 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
- $49,500 - $75,750
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
- $91,435 - $163,435
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
- 30% 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
- Homewatch CareGivers 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
- 16 hours
- Classroom Training
- 80 hours
- Additional Training
- Ongoing support
- Ongoing Support
NewsletterMeetings & ConventionsGrand OpeningOnline SupportSecurity & Safety ProceduresField OperationsSite SelectionProprietary SoftwareFranchisee Intranet Platform
- 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.
Franchise 500 Ranking History
Compare where Homewatch CareGivers landed on this year’s Franchise 500 Ranking versus previous years.
Curious to know where Homewatch CareGivers ranked on other franchise lists? Find out below.
Are you eager to see what else is out there? Browse more franchises that are similar to Homewatch CareGivers.
Related Franchise Content
Catch up on the latest franchise news, trends, and more.
How does your personality compare? Do you like following rules or making the rules?
Make sure the franchise you buy, and their marketing system, are worthy of your time and investment.
There are many ways to own a business that helps other businesses thrive.
The lifestyle that comes with a home-based franchise may seem carefree, but it's not for everyone. Here are five questions to ask yourself to see if this type of business is for you.
Explore how franchise local marketing is changing to serve local customers better.
The key to generating wealth through franchising is to invest in an emerging brand. Here are 5 ways to help ensure you pick a winner.