Why Franchising Beats an Independent Investment

When starting a business, one in the home care industry or in any other, it can be tempting to go it alone rather than investing in a franchise opportunity. For some entrepreneurs who would rather have full control every aspect of their business without following a structure, starting a business independently may seem like a better option, especially when there are no monthly royalties (typically 3%-5%) that need to be paid to the franchiser. Of course, it is possible to start any business independently, free from the guidance of an existing franchiser, but that comes with more risks which don’t usually outweigh the benefits. Here are some great reasons why even the most reluctant entrepreneurs should take another long hard look at a franchise when making their investment in the senior care industry.

1. Proven success – we’ve said it before and we’ll say it again; when you invest in a franchise it comes with a proven track record that secures more success and eliminates some of the risks that come with an independent business. A franchise comes with a structure that starts with training and support manuals, proven marketing plans, access to other resources and ongoing support

2. Access to vendors with highly competitive rates – with any business, vendors and services are needed; whether it’s simply for insurance or for the complete product line of the business. In the senior care industry, specific products might not apply, but a franchise usually has a preferred vendor list which can offer discounts on things like insurance and even on the lease of a building

To continue on on Friday

Via: SeniorMag

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Take the first steps to becoming a Home Care Assistance owner today. Envision limitless opportunities in the senior care industry.  Call us today at 702-204-1436.

Continuing our post from Monday:

Franchise businesses seem like a quick and easy investment, and they can be provided the business that you’ve invested in is the right one.

3. Does the franchiser seem to do their job? A good franchise should have a franchisor that has taken steps to establish the brand, source quality products, and come up with an effective marketing plan. You might think that a hands-on franchiser means a regimented structure, but with an established company, this can be a recipe for success

4. Is the franchise agreement fair? Once you’ve found a business you’re considering to invest in, find out what kind of agreement will be in place. You don’t want to invest in a business that renders complete control to the franchiser

5. Determine what’s involved with the exit – just because you want to invest in a franchise today, doesn’t mean you want to be bound to it for the rest of your life. Find out before you sign on the dotted line what is involved when you’re ready to say goodbye to your business

Via: Ezine Articles

Take the first steps to becoming a Home Care Assistance owner today. Envision limitless opportunities in the senior care industry.  Call us today at 702-204-1436.

Franchise businesses seem like a quick and easy investment, and they can be provided the business that you’ve invested in is the right one. The real effort can come in before any money has changed hands, and research is necessary to help secure your investment. Here are some points to consider as you start the process of investigating the franchise options that are right for you.

1. Is the business something you would be proud to own and enjoy staying involved with?  Businesses are most successful when they have hands-on franchisees, not just a silent investor hoping to take in the profits. If your background is in sales in the sports gear industry, you just might not be the right person for a senior care franchise

2. Does the brand have visibility and a reputation? Although starting with a company and franchiser in the initial stages can be tempting, especially if they are offering incentives for the first franchises in the brand. But, if you go with a franchise that does not have an established reputation or a name that is well-known, you eliminate the decreased risk benefits of going with a franchise, and you might as well just start up a business independently, based on your own interests and structure, if those are risks you’re willing to assume.

Visit on Wednesday to learn more.

Via: Ezine Articles

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Take the first steps to becoming a Home Care Assistance owner today. Envision limitless opportunities in the senior care industry.  Call us today at 702-204-1436.

Investing in a franchise is a less risky way to break into the business world, but it’s not a surefire recipe for success. Entrepreneurship isn’t for everyone, you’ve got to have what it takes to get behind the helm of a franchise investment, and you’ve got to make sure that you choose a reputable franchise with a proven history, otherwise you might as well be flushing your money right down the toilet.

Here are some of the top reasons that franchises fail, and ways that you can prevent history from repeating itself when you’re considering making your own big investment in becoming a franchisee.

1. Poor skills for an entrepreneur – there are a wide variety of characteristics that the most successful entrepreneurs posses, which can include trust, honesty, integrity, motivation and responsibility.

2. Incompetent Franchiser – if a franchiser doesn’t have a proven track record, franchises might not succeed. A good franchiser should provide support and training to the franchises, both during start-up and once the business gets off the ground to help ensure success. With a new franchiser, you might have to assume risks since you don’t necessarily know what you’re get into as a franchise. With a business that has a long history, there’s a better chance for success and support from the franchise

3. Unnecessary focus on legalities – while you always want to be diligent when signing contracts and making your investment as a franchisee; it’s possible to overdo it and expend too many financial resources that can take away from the potential profits of the business

4. Lack of effort – while franchises do often come with a proven recipe for success, franchisees still need to put the effort in throughout the whole process, and not just assume that things will work out for the best. The most profitable and successful franchises have hands-on franchisees and franchisors

When purchasing a franchise, if you do your research and practice due diligence throughout the whole process, you should be on the road to becoming the franchisee of a successful business. But remember, there are no guarantees, so don’t leave anything up to chance ok take anything for granted.

Via: EZ Articles

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Take the first steps to becoming a Home Care Assistance owner today. Envision limitless opportunities in the senior care industry.  Call us today at 702-204-1436.

We’ve talked before about how senior home care businesses are recession proof in a number of ways; no matter what the state of the economy, seniors will always need care, and more and more American families are starting to realize how home care provides a better quality of life to their loved ones and also helps them to keep more money in the bank. If you think you’ve got the motivation and the skills to go after your dreams of starting a home care franchise at a time when the future state of the economy remains uncertain, then go for it! To get started, you’ll need to build the business and client base, and here’s how you can go about doing that:

1. Spread the word – talk to local churches, social organizations and community centers about the services that you can provide to seniors, and ask them if they would be willing to refer your franchise to those in need

2. Talk to friends and family – word of mouth goes along way to developing a client base. Talk to friends and family about your business, and ask them if they know of anyone who might benefit from home care during their elder years

3. Talk to people in similar industries – housekeeping services often work with seniors who can’t manage the burden of the upkeep of their homes. Leave some business cards with these local businesses so that they can refer you to their clients who might also benefit from your services

4. Leave your information at your doctor’s office – when going into visit your own doctor, ask them if you can leave them some information; they might be willing to pass it along to any patients who could use home care and even ask other clinics in their network to do the same

5. Advertise – create a website, post your information on sites that help advertise home care businesses, and take out an ad weekly in the local paper

6. Visit senior centers – you can volunteer at a local senior center and talk to seniors about your services, or just arrange to sit down and talk to groups about your business. By talking to them you will develop a rapport and seniors will feel more comfortable to come to you if they need help or know someone else who could use your services

7. Invite people over – by holding a casual open house in your home with other local business owners and friends who can help you promote your services, you set the tone for your operation

Of course, to find success in a time of economic uncertainty, there’s more involved then simply spreading the word to find clients; but without clients, you won’t have a senior care business at all, so it’s a great place to start to get on your way to a successful franchise.

Via: Associated Content

Take the first steps to becoming a Home Care Assistance owner today. Envision limitless opportunities in the senior care industry.  Call us today at 702-204-1436.

One of the hardest things to do in the franchise business is to find a good core staff. Ideally, you want one that will stay with you, do their job to the best of their abilities, and make sure that the working environment is as drama free as possible. If you’re nervous about getting into the franchise business because of potential staffing issues, here are a few things to consider, and ways that you can ensure staffing issues are kept in a minimum even before you make your franchise investment.

1. Look into the industry – no matter what industry you’re considering getting into by purchasing a franchise, think about how many staff members you will need to hire, and do some research on just how available these type of workers are. Does it seem like franchises in your industry constantly have ads posted online or help wanted signs in their windows?

2. Talk to other franchise owners – if you’re purchasing a franchise, the franchisor should always be willing to connect you with other franchisees who can let you know about common staffing issues they experience, the turnover of employees and answer any other questions you have about managing staff in your business, before you make your decision to invest

3. Does the franchise use skilled employees? – if you’re looking into purchasing a fast food franchise, you’re likely to encounter a number of staffing issues in hiring teenagers and students who are working just to pay a few bills and may not have much loyalty to the job or goals to move up in the company. In the fast food industry, turnover is constant, so be prepared to always be going through the hiring, and even the firing process. In the senior care industry, however, you are dealing with higher paid skilled employees that are typically in the industry because they’re passionate about what they do and have the drive to be successful. You need to make sure that you hire the right people, but once you’ve got a great team, it’s less likely that you will have as many problems with your staff

As a franchisee, the hiring process and staffing are crucial components to your success; but also keep in mind, that with the right management team in place, you don’t always need to be hands on in dealing with the staff if you don’t want to!

Via: Entrepreneur

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Take the first steps to becoming a Home Care Assistance owner today. Envision limitless opportunities in the senior care industry.  Call us today at 702-204-1436.

We’ve already talked about how franchises in the senior care industry are an ideal investment, even with the current state of the economy, because they are virtually recession-proof. But, in case you need a few more good reasons why a senior care franchise might be right for you, and come with less risks than other franchise businesses, here are a few more facts:

• Since 2004 the greatest growth in the franchise industry has been with senior care businesses

• Seven senior care franchises have been ranked in the top 500 for Entrepreneur Magazine’s growth analysis due to growth as much as 39% in the last year

• Despite the growth, the market has yet to reach its peak. By 2010, approximately 30% of the North American population will be aged 65 and older

• Boomers, who make up a great deal of the population today will be approaching aged 60 over the upcoming years

• The senior care structure in North America is still continuing to shift from a structure where seniors are sent away to age in retirement homes and other senior care facilities, to a structure focused on independence and aging in place.

Of course, as a smart business person, you shouldn’t just take our word for it; we wouldn’t lead you astray, but do your research, compare the growth rates of other industries versus the senior care industry, and talk to a franchiser in your area to see how successful they have been in the area where you’re planning your own startup.

Via: Floyd Business Groups

Image: findafranchise.com

Envision limitless opportunities in the senior care industry. Take the first steps to becoming a Home Care Assistance owner today. Call us today at 702-204-1436

Investing in a franchise and building a successful business can lead to profit, but not all franchises come with personal benefits that can truly change the lives of the franchisees involved in ways that are not just monetary. A senior care franchise comes with a number of personal benefits, even for those franchisees who are investing in the business but don’t take on caregiving duties themselves.

The number one benefit as a franchisee for a senior care business is the knowledge that you are helping seniors to change their lives for the better, and there are a lot of benefits that can go along with that, such as:

1. More respect for older generations – forming a connection with an older demographic can bring increased understanding of the trials and tribulations of aging, as well as dispel some of the stereotypes which leads to increased respect

2. Knowledge of getting older – being in the senior care franchise business, franchisees have an increased understanding of what happens when you age; helping them cope when dealing with other members of their family, or even getting through their own aging process

3. Increased compassion and morality – you don’t need to be a spiritual person to be affected as a senior care franchisee. Your level of compassion and morality towards other human beings, both young and old will improve as you’ve been exposed to different experiences and elements of being.

4. Creating opportunity for others – not only are you giving senior care industry experts employment opportunity, you’re also giving them a chance to take in the rewards of senior care, including the chance to change the lives of seniors

5. Understanding that you’re making a difference – as a senior care franchisee, you are giving seniors in your area the gift of independence, by allowing them to age safely in their own homes without having to give it all up to live in a senior care facility.

Although there can be rewards with taking on a franchise in any industry, with senior care, franchisees are impacted on a more personal and emotional level, and the benefits of the experiences that they receive are ones that will stay with them for a lifetime.

Sources:

1. National Caregiving Training Programme

2. Revolution Health

Take the first steps to becoming a Home Care Assistance owner today. Envision limitless opportunities in the senior care industry.  Call us today at 702-204-1436.

When thinking about which industry to invest in when purchasing a franchise, your first question is likely “well, will I be successful”. Of course, there are a number of elements that can determine your success, so there’s no way that anyone can tell you “yes” with certainty; but there are some specific factors that make franchises in the senior care industry successful.

Franchisees in the senior care industry don’t need to have specific industry experience, provided they are compassionate about helping others and know how to hire those who will be able to provide proficient care to your clients. One reason that senior care franchises are so successful is because they really are recession-proof. It doesn’t matter what the economy is doing, older adults who need help, need to make arrangements to provide for their safety; plus, since senior home care in the senior’s home offers more flexible hours and options for seniors who require assistance, it can be much more affordable than paying to live in a senior care facility.

The growing population of seniors is also on your side if you’re thinking about starting a senior care franchise or investing in one, as the baby boomers are beginning to enter the period in their lives when they need care, more seniors than ever will find themselves making senior care decisions. Plus, people are living longer, increasing the need for more quality businesses to be prepared to provide them with the care that they need as they live into their 70’s, 80’s and 90’s.

There’s another great reason to get into the senior care franchise industry, and that’s to be on the cutting edge. As the senior care industry is transformed from a model more focused on putting elders away somewhere for care to one that aims to provide older adults with independence through aging in place, the need for senior care franchises will only continue to grow making it a hot market to invest in!

Via: Entrepreneur.com

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Take the first steps to becoming a Home Care Assistance owner today. Envision limitless opportunities in the senior care industry.  Call us today at 702-204-1436.

No matter what industry you’ve chosen to invest in with the purchase of a franchise, the support staff you choose can be your biggest asset, or they can be the direct result of your downfall. In all industries, you need staff who are responsible, reliable, and have the experience you’re looking for. Experience doesn’t have to be industry specific, but they must have the skills or have proven that they will be able to skillfully adapt to all of the responsibilities that come with their role.

In the senior care industry, there are some specific traits that are a requirement, because dealing with seniors on a daily basis and providing optimal care really takes a special type of person. Particularly in an industry that has been plagued with allegations of elder abuse, you need to make sure you are comfortable in your choice of caregivers as well as support staff. When hiring, ask yourself “Would I be comfortable having this person responsible for the well-being of my mother or father”, in addition to evaluating their personality, ability and skills by looking at the following traits:

1. Experience – not all great caregivers need to have direct experience working with seniors, but it’s always a bonus. However, you should look for those who have some training in providing care. Unless you’re willing to pay for certification, training in CPR is essential. Always verify any credentials or experience listed on a resume with a previous employer.

2. Physical abilities – although it’s not necessary for all caregivers, some might need to be capable of physically moving a senior to get them out of bed or in and out of a bathtub. Although different levels of care may be required for different senior clients, make sure you know upfront what each applicant’s physical abilities are when you interview them for a position in your franchise.

3. Personality – in the senior care industry especially, you need people who are dependable, but even more than that, you need caregivers who are compassionate and patient, and that really want to help improve the lives of the seniors they care for. In the senior care industry, doing the job to get the paycheck isn’t enough; staff aren’t dealing with hamburgers on a grill, they’re responsible for the day-to-day well-being of other human beings.

In any industry, when hiring support staff for your franchise, you’re taking a risk. But if you’re thorough during the interview process, complete appropriate background checks and do your research, you can find team members that will help you meet your goal of not just bringing home a profit, but transforming the lives of seniors.

Sources:

1. All Business

2. Ladies Home Journal

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Take the first steps to becoming a Home Care Assistance owner today. Envision limitless opportunities in the senior care industry.  Call us today at 702-204-1436.