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- 2022 Franchise 500 Rank
#416 Not ranked last year
- Initial investment
$44K - $131K
- Units as of 2022
396 19.6% over 3 years
Here’s what you need to know if you’re interested in opening a Synergy HomeCare franchise.
Synergy HomeCare, founded by Peter Tourian in 2001, is one of the leading non-medical home care agencies in the U.S. The company has a deep-rooted commitment to providing compassionate, attentive home care for the elderly, ill, disabled, or recovering.
This attentive companionship is also offered to those recovering from illness, surgery, and childbirth. As a Synergy HomeCare franchisee, you may help make the vulnerable, and their families' lives easier through watchful care and sensitivity.
Synergy HomeCare began franchising in 2005 and has since grown to over 300 locations across the United States.
Why You May Want to Start a Synergy HomeCare Franchise
If you love the idea of offering quality and personal home care, then opening a Synergy HomeCare franchise might be for you. Seen by some as more as a service to the community than a business, Synergy HomeCare strives to function as a haven for overwhelmed families everywhere. With this company, you may find yourself acting as a helpful friend would in difficult times. With this empathy toward families, more people might look to professional home care for their loved ones in the coming years.
As one of the leading providers of non-medical home care, Synergy HomeCare gives hope and family support. They offer friendship to all those who cannot leave their homes. Being warm, inviting, and caring ensures that the elderly, sick, disabled, or recovering do not feel like second-rate citizens or burdens to their families.
What Might Make Synergy HomeCare a Good Choice?
To be part of the Synergy HomeCare team, you should make sure you’re financially ready for an initial investment made up of a franchise fee and other startup costs. You should also be prepared for ongoing fees that will include advertising fees and royalty fees.
As non-medical home care agencies compete, Synergy HomeCare continues to reach many people in need of their services. With their excellent business training, you may give people in need personalized home service while maintaining a good business reputation. As you decide if you want to open a Synergy HomeCare franchise, make sure you take time to explore the opportunity. Research the brand and your local area to see if a franchise would do well in your community.
As a franchisee, you may get a protected territory to avoid an overlap with other franchisees. This typically helps to protect your business from the loss of customers. The ideal franchisee has a heartfelt desire to care for people, a passion for leadership and business, good communication and relationship skills, and kindness.
How To Open a Synergy HomeCare Franchise
To start a Synergy HomeCare franchise, you will need to meet the company's set net worth and liquid capital requirements. You will then fill out a franchise inquiry form requesting further information. From there, you may receive an information packet and regular informational emails if you are found to be a good fit for the brand.
If approved to continue, you may then fill out an official franchise application. When it is received, you may receive a call from the franchise development team. They will take you through the process of opening a Synergy HomeCare franchise. There will likely be intensive training before you can open the doors to your business. Synergy HomeCare is ready to walk with you as you begin your franchise journey.
About Synergy HomeCare
- Franchising Since
- 2005 (17 years)
- # of employees at HQ
- Where seeking
This company is seeking new franchisees in the following US states: Alaska, Alabama, Arkansas, Arizona, California, Colorado, Connecticut, District of Columbia, Delaware, Florida, Georgia, Hawaii, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, 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
- 396 (as of 2022)
Information for Franchisees
Here’s what you need to know if you’re interested in opening a Synergy HomeCare 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
- $25,000 - $50,000
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
- $44,286 - $130,912
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
- $150,000 - $250,000
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
- $50,000 - $100,000
Definition: The minimum liquid capital you must have available in order to qualify to become a franchisee of this company.
- Veteran Incentives
- 15% 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
- 5 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
- Synergy HomeCare 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.
- Classroom Training
- 41 hours
- Additional Training
- Periodic visits
- Ongoing Support
Purchasing Co-opsNewsletterMeetings & ConventionsToll-Free LineGrand 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.
Interested in franchise ownership like Synergy HomeCare? Request a free consultation with a Franchise Advisor now.
Franchise 500 Ranking History
Compare where Synergy HomeCare landed on this year’s Franchise 500 Ranking versus previous years.
Curious to know where Synergy HomeCare 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 Synergy HomeCare.
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