My Elder

My Elder

Senior advocacy
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2023 Franchise 500 Rank
N/R Not ranked last year
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Initial investment
$72K - $119K
Units as of 2020
6 200.0% over 3 years

Here’s what you need to know if you’re interested in opening a My Elder franchise.

My Elder was founded by Jack Halpern, who possesses decades of expertise in the elderly care field. The business's primary goal is to put the needs of the elderly first, ensuring their quality of care.

Since 2004, My Elder has been committed to providing peace of mind to its clients and their families. The brand began franchising in 2014 and has since opened several franchises. My Elder is headquartered in Jersey City, New Jersey. My Elder offers services including: 

  • eldercare monitoring

  • assisted living and nursing home placement

  • elder home care planning

  • hospital, and nursing home crisis intervention 

  • long-distance caregiving

  • long-term care planning

  • assisted living and nursing home eviction prevention

Why You May Want To Start a My Elder Franchise

New franchisees with My Elder don't need to have any expertise in the advocacy field. The ideal franchisee may be interested in elderly matters, enjoy dealing with people, and be good at operating in stressful situations.

My Elder provides franchisees with many hours of both classroom and on-the-job training. It also may offer ongoing support on multiple matters such as security and safety procedures, field operations, and proprietary software, among others. My Elder also offers marketing support on regional advertising, SEO, social media, co-op advertising, ad templates, and website development.

If awarded a My Elder franchise, a typical franchise agreement runs for ten years. Franchisees may be allowed to renew their agreement if they meet the My Elder franchise requirements.

What Might Make a My Elder Franchise a Good Choice?

Opening a My Elder franchise could offer a more predictable outcome than investing in a completely new brand that may struggle to thrive in an already crowded and competitive industry.

To be part of the My Elder 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 My Elder Franchise

As you decide if opening a My Elder franchise is the right move for you, make sure you take a considerable amount of time to explore the opportunity. Research the brand and your local area to see if a My Elder franchise would do well in your community. While competition is healthy, too much of it may not allow for the most possible growth.

Before making any financial commitment or signing an agreement with My Elder, you must perform your due diligence and establish if this is the right opportunity for you. 

As part of your due diligence, you may want to speak to existing franchisees and ask the My Elder franchising team questions. It may also 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 a My Elder franchise.

Find Your Perfect Franchise

Company Overview

About My Elder

Related Categories
Senior Care
Founded
2004
Parent Company
My Elder Advocate
Leadership
Claudine Halpern, CEO
Corporate Address
344 Grove St., #210
Jersey City, NJ 07302

Business Overview

Franchising Since
2014 (9 years)
# of employees at HQ
5
Where seeking

This company is offering new franchisees in the following US states:

# of Units
6 (as of 2020)

Information for Franchisees

Here’s what you need to know if you’re interested in opening a My Elder 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
$59,500
Initial Investment
$72,250 - $118,600
Net Worth Requirement
$250,000 - $500,000
Cash Requirement
$150,000 - $250,000
Veteran Incentives
5% off franchise fee
Royalty Fee
8%
Ad Royalty Fee
2%
Term of Agreement
10 years
Is franchise term renewable?
Yes
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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
My Elder has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs

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
40 hours
Ongoing Support
Newsletter
Grand Opening
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?
Yes
Can this franchise be run part time?
No
# of employees required to run
2
Are exclusive territories available?
Yes
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Disclaimer
The information on this page is not intended as an endorsement or recommendation of any particular franchise or business opportunity by Entrepreneur Media. Our listings and rankings are solely research tools you can use to compare opportunities. Entrepreneur stresses that you should always conduct your own independent investigation before investing in a franchise or business opportunity. That should include reviewing the company’s legal documents, consulting with an attorney and an accountant, and talking to former and current franchisees/licensees/dealers.
Updated: December 12th, 2022