The Importance of a Solid Business Plan for Senior Care Franchisees

It’s a mistake to assume that becoming the operator of a senior care franchise means that business and strategic plans are not necessary. Although franchisees are generally required to follow a set of established business, operational and marketing standards and protocols, operating a business takes savvy and knowledge. Anyone who has ever experienced poor service and/or poor product quality at a franchised business knows that the name alone does not guarantee a positive experience.

Here are some key reasons to develop a solid business plan:

  1. A business plan will help you develop a solid financial strategy and help you convince lenders of the viability of your business.
  2. The process of writing a business plan will prompt you to plan, ask questions, and anticipate issues that you may not have considered initially.
  3. A business plan spells out your goals, as well as timelines for those goals.

Your business plan should include some key elements—a mission statement, a description of the business structure, market strategy and plan, information about the organizational and management structure, and financing information, among others.

A solid business plan communicates to lenders and franchisors that you are a serious contender and are prepared to run a successful franchise operation. Do your research and make sure franchising is right for you.

Those looking for opportunities to start one of the best home care franchises and serve the senior community should consider franchising with Always Best Care.

Learn more about senior care franchising and Learn more about the senior care franchising industry today by downloading our FREE eBook.

Learn more about senior care franchising by downloading our FREE eBook today!

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Please refer to our most recent Franchise Disclosure Document for important details.

Why a Home Care Business is a Solid Investment

home care businessThere is no doubt about it. Home care businesses are in demand. The changing demographics of America’s population, along with evolving attitudes on health care in general, are assuring that a home care business will be able to turn a profit for years to come.

The Growing Demand for Home Care Businesses

Let’s face it. We are all getting older. But as the huge numbers of baby-boomers are officially becoming senior citizens, this means millions of people are reaching their golden years at the same time. In fact, it is estimated that 10,000 baby boomers will turn 65 every day through 2029! This presents a tremendous market and a bright future for home care businesses.

Right now there are about 7,000 companies involved in the home health sector of the economy, yet many communities remain under-served and can’t keep pace with the rising demand. When you own an Always Best Care franchise, one of America’s most respected home care businesses, you will be tapping into a huge market that promises an easy and fast return on your investment.

The Aging-in-Place Trend is Fueling Home Care Businesses

For years, the traditional approach to aging parents was to move them to nursing homes when their needs became too great to manage. Today, there is a decided trend toward aging in place. Whenever possible, when seniors need assistance but do not require hospitalization, they prefer to stay at home and their families prefer this, too.

An Always Best Care franchise can bring the full range of support services into the home. Whether recuperating from an illness, facing a disability, or suffering from lack of mobility, the elderly rely on Always Best Care for:

  • Health monitoring
  • Housekeeping assistance
  • Medication delivery
  • Assistance with personal hygiene
  • Help with basic daily living routines

The Dollars and Cents Make Sense for Home Care Businesses

The preference for in-home care is not just based on a desire for a better quality of life; in-home care can be considerably more affordable than living in a nursing home. The government often picks up most, if not all, of the tab for short-term home care, through programs such as Medicare and Medicaid.

That’s part of the reason why investing in home care businesses makes good financial sense. It can be a reasonably priced investment, particularly if you join a solid franchise leader such as Always Best Care. In fact, research shows that you can save tens of thousands of dollars in startup costs over opening an independent home care agency.

We will help you gear up with comprehensive training in our proven business model. When you open your doors with our management and marketing strategy in full swing, you will have a leg up on the competition. You will enjoy instant name recognition in your community, supported by our national reputation for quality delivery of the full range of home health services.

Home care businesses are forecast to be highly profitable and recession-resistant for years to come. Always Best Care will show you the way! Learn about us at 855-430-2273 or email [email protected].

Four Franchise FAQs Answered!

Four Franchise FAQs Answered!If you’re interested in the possibility of franchising in the rapidly growing in home senior care industry — or if you’re simply curious about franchising — we’ve put together a list of the top-four franchise FAQs.

How Much Does Franchising Cost?

This is probably the most commonly asked question about franchising. Unfortunately, there is no clear, solid answer. Franchise costs are based on a number of different factors that change over time and are different depending on location. Your best bet is to ask questions of people who operate franchises in your area. Then, you can gain a sense of the financial outlay that will be required of you.

One thing you should remember: regardless of the cost of a franchise, it’s important to have extra capital on hand to account for costs that you may not consider at the outset of your franchise operations. Before you make any decisions, make sure you have a comfortable amount of capital on hand. Be sure, also, that you have the ability to borrow the necessary amounts of money, if needed.

How Can I Tell if a Franchise Has a Good Reputation?

This question should be addressed from two different angles:

1. What franchisees have to say (or not say) about the franchise
2. The press and media coverage for the franchise

Plan to talk to people who are current franchisees with the business you’re considering. Ask them lots of questions about the level of support they receive, the time commitments that are expected of them, their income (assuming they will share such information) and whether the experience has met their expectations. This is incredibly valuable information, but you should also pay close attention to what franchisees conspicuously leave out when they discuss their experiences. Take good notes and be proactive in this process for the best results!

In addition to speaking with current franchisees, it’s helpful to augment your explorations with research into the types of press and media coverage the franchise has received. By doing this, you get the perspective of the person on the front lines, as well as those who watch franchising from afar.

What Type of Franchise Is the Best?

This is like asking what kind of food is the best; it really depends upon one’s personal attributes, characteristics, preferences and history.

Obviously, we operate in the senior care industry, so we’re a bit biased, but a quick look at growth in various franchising sectors reveal that in home senior care is an area that will likely expand considerably in the coming years, making it a terrific choice for those who have an interest in the field.

As always, the best advice is to do your homework and trust your instincts.

Four Franchise FAQs Answered!What Kind of Support/Marketing Assistance Is Available?

The most successful franchise operations tend to be the ones that offer the most sophisticated and comprehensive assistance to franchisees. If an opportunity seems like it would involve too much responsibility on your part, you may want to look elsewhere. Ultimately, a franchise is a partnership in which the right balance needs to be found between the efforts of the franchisee and the work of the franchisor.

Learn More About Senior Care Franchising!

If you’d like to know more about what it’s like to own and operate a franchise, we invite you to download a copy of our FREE franchising ebook. Get your copy today and learn whether franchising is the right business opportunity for you!

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Please refer to our most recent Franchise Disclosure Document for important details.

A Look Into the Future of Senior Care – What’s Around the Corner?

A Look Into the Future of Senior Care – What's Around the Corner?Times seem to be changing more rapidly than ever before, and the senior-care industry is not immune. Technology continues to advance at a blistering rate, and people are living longer lives, which has forced individuals and families to think differently about how they take care of the senior population. Navigating the transforming landscape will be challenging, but we’ve looked ahead to make some predictions about where the elder-care industry will be headed in the next few years.

Let’s have a look!

#1 – A New Ideal

For decades, the automatic response to aging was to investigate nursing-home care. The idea of allowing Mom or Dad to continue living and thriving at home was simply not a viable choice for most families. Today, however, staying at home has become the dominant model for effective senior care. When you look at the amazing benefits that seniors can experience by staying at home, as well as the financial benefits for families, it’s easy to see that the in-home-care model will continue to dominate our industry in the coming decades.

#2 – Technology Rules

Even if seniors don’t embrace the latest technological advances, modern technology will have a major impact on how the elderly live their lives. Technology keeps families and friends connected, plus it can be used to automate various functions of the home, making life much easier for seniors. As time goes by, technology will only become more important, which means that those of us in the senior-care industry will do well to stay on top of the technological wave.

#3 – Living Longer and Living Well

A Look Into the Future of Senior Care – What's Around the Corner?Life expectancies keep rising – seniors are enjoying life after retirement for longer than ever before, and they are taking full advantage of the time that they have available to them. Today’s aging population is youthful and vibrant, and its members are interested in living lives that are filled with fun, adventure and vitality. The desire to live a rich, active and fulfilling life is strong among today’s seniors, and they recognize that they can age more gracefully – and happily – by remaining at home. This means that in-home senior-care providers who furnish opportunities for vibrant, active living will become increasingly attractive to the aging population.

The Future of Senior Care

No one knows for sure what the future will look like, but it’s easy to see where the senior-care industry is going. The nursing-home model is a thing of the past, and seniors are living rich, full, independent lives. This is great news for those of us involved with in-home care!

Are you interested in learning how franchising with Always Best Care can provide you with the tools to navigate the future effectively! Call us today for a free consultation at 1-855-430-CARE (2273). Also, be sure to download our FREE senior care franchising eBook!

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Please refer to our most recent Franchise Disclosure Document for important details.

Opening Your First Franchise: The Initial 90 Days

Small businesses are at the core of America’s economy, accounting for the vast majority of new jobs and sales. Yet the market is a volatile; new businesses are always at risk of failure, it’s the hard truth of business. However, in recent studies that track small business success (and failure), franchises frequently performed well, much owed to how franchises come with resource materials and other benefit typical start-ups do not have access to. For entrepreneurs seeking an entry into the senior care business, franchising is an exciting opportunity.

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The State of Small Business

Small businesses provide entrepreneurs with a chance to take control of their career and economic destinies. For many of us, we’ve simply been born to be entrepreneurs, taking joy in the hardships of new business and in watching it flourish.

There are more than 28 million small businesses in the U.S. The vast majority of them —an estimated 22 million— are one-person operations with no other employees.

The remaining six million are the linchpin of the U.S. economy, as more than half the U.S. workforce is employed by a small business.

While there is great opportunity in small business entrepreneurship, there is also great risk. About seven of 10 small businesses that employ workers survive their first year, but only half make it for three years. After 10 years, only a third remain in business.

Owning a franchise helps better the odds that your business will succeed. The franchise company you buy into will have done much of the trial and error for your business at other sites, allowing you to benefit from their established—and successful—business model. Instead of spending years building up a reputation for your business, you can trade on the goodwill generated by your franchise’s brand. Franchise companies also typically offer their franchisees help with finding a location, construction, training and other needs. Members of a franchise company also often get breaks on materials the company buys in bulk.

What To Expect In The First 90 Days

When you open a senior care business franchise, there are some things you’ll need to do in the first 90 days to ensure your company’s success. These include:

  • Finding your first customers. Whether you’re starting a fast food joint or working with Always Best Care to provide senior care for families, you have to have to find and establish loyal consumers. Before launching your business, identify who your customers are likely to be and target them with your marketing efforts.
  • Honing your selling skills. Once your business gets started, it’s time to master closing the deal. Work on your selling skills and find out what works and what doesn’t. For franchise members, much of this may be provided to you, and with access to other franchisees, you can find from their experience what has and has not worked.
  • Take advantage of programs offered by your franchise. If they’re offering training, take it. If they provide accesses to financial, customer service or other advice, listen. Your franchise company is invested in seeing you succeed. Use the tools they provide you to prosper. As an entrepreneur, you have to wear the shoes of every role at your business; the greater your understanding of each role, the better you can hire in the future and better you’ll be able to manage those roles on the fly.
  • Start hitting financial goals. Before you bought your franchise, you should have created some financial goals for your business as part of your business plan. When your franchise is up and running, keep a close eye on revenue and expenses and start finding ways to help meet financial goals.
  • Re-evaluate pricing. Within 90 days of opening, look at your business’ pricing for services and goods and determine whether you need to lower prices to attract more business or increase them to earn more profit. As your business progresses, you’ll get a better insight into whether the prices you set at the beginning are an accurate reflection of the market.
  • Work With Your Franchise. Your franchise company has a big stake in wanting you to succeed. Failed franchises reflect poorly on franchise companies. Listen to your franchise company’s advice and take advantage of any programs they have to give you access to inexpensive supplies or services.

Why Senior Care Franchises?

Senior care provides an excellent opportunity for a small business franchise. There is a rising demand for elder care in America, fueled by a growing elderly population. Over the next few years, people over the age of 65 will account for about one-fifth of the U.S. population. This demographic will require health and personal care services, and as their numbers grow, the demand for these services will too.

This demand allows easy entry into the field reduces the cost of starting an in-home care franchise. With the support of a strong senior care franchise company, entrepreneurs can quickly be on their way to a lucrative career in providing quality in-home care services to older Americans.

Franchise with Always Best Care provides an easy way for entrepreneurs to enter the lucrative and rewarding field of working in the senior care business. Always Best Care provides critical advice and training to new franchisees and connects them with invaluable resources to help them get their new business on solid footing from the start.

If you’re ready to make a difference in your community, download our FREE franchising eBook today to learn why Always Best Care’s training, marketing, and support have grown our franchisee revenue so dramatically.

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Please refer to our most recent Franchise Disclosure Document for important details.