Are you confused as to what a franchise business is and what it can offer? To help you better understand, we’ve compiled the most frequently asked questions about franchising so you can best understand why this business model may be the fit that you are looking for.
If you have more questions, please contact us or give us a call!
Per the International Franchise Association (IFA), a franchise involves a franchisor, the brand and a franchisee that pays to build a business under the franchisor’s brand.
Simply put, a franchisee will pay a franchisor for the right to use the business’s operations and systems, thus becoming a business owner with the support of a larger brand.
Owning a franchise requires the same motivation, dedication and grit as operating an independent business. If you are a decisive, team-oriented and flexible person, you already have three qualities that may make you a good franchise owner.
Our team at HomeWell values passionate and community-oriented professionals. We can train you on the ins-and-outs of home care. Take our quick and free online personality assessment to learn whether HomeWell is right for you!
Your initial investment in a franchise covers operational costs for the beginning stages of your business. After that, your investment helps maintain the franchise’s day-to-day needs, payroll, marketing and beyond. Franchise owners are responsible for the cost of:
Everyone is in a different financial position before they invest in a franchise. If you need funding assistance, there are options to help you get started. Depending on your eligibility, you may be able to get a loan to start a franchise or apply for funding from various public or private sources. Our favorite financing methods include and more:
If you’re wondering how to get investors for your franchise, it may help to visit your nearest SBA office for guidance.
There are many advantages to choosing a franchise over starting your own business, especially in the early days as you work to get your service off the ground. Working with HomeWell Care Services affords you:
Once you’ve invested in a HomeWell franchise, we work with you to help it succeed. Before you invest, we’ll discuss every aspect of your business ownership journey. That includes your exit plan and what you plan to do in order to help your professional and personal goals.
Because of the nature of a franchisor and franchisee relationship, there are some basic guidelines and rules that you’ll have to follow. These guidelines are geared to help you succeed in your business and keep you and your employees safe.
Yes! Multi-unit franchising is a common practice among the most devoted business executives. Understand, though, that owning two or more franchises often translates to completing double the work, so be sure you’re prepared to do so.
Sometimes. To own franchises in multiple states, you must register your business in any state where the franchise has a physical location. You cannot, however, incorporate your businesses in more than one state.
Potential earnings depend on various factors, including the local market, the types of services you offer and marketing.
To learn more about your potential earnings, speak with a HomeWell franchise development contact us via our online form or call (817) 916-8904.
One of the best parts of being a franchise owner is that you get to do something new almost every day. One day, you may be in meetings and helping your staff review budgets. The next, you could be out in the community meeting potential clients and making an impression. Then, you might be meeting with other franchisees and attending seminars to bring new knowledge to your business.
As you become a franchisee with HomeWell, you’ll have the opportunity to talk to other franchisees about their experiences in owning a HomeWell business.
Staffing is one of the most important decisions you’ll make as you start your franchise. Your caregivers are the face of your business in the community, and as such, they should be prepared to interact with your area’s diverse population.
We always recommend seeking home care professionals with a connection to your community. They tend to become the most dedicated team members, as they are personally invested. During your training, we’ll go into more detail on how to create the best team for your franchise.
HomeWell territories are determined by zip code and population. Generally, these territories serve about 40,000 seniors within a population of 300,000 people, though these numbers may be larger or smaller based on whether there are other franchise locations in the surrounding areas. Currently, we have more than 140 territories sold around the country belonging to more than 70 franchise owners. Contact us today and see if you’re ready to become our next successful owner!
At HomeWell, our franchise owners go from prospective business professionals to expert leaders in the home care industry. Learn more about our brand by downloading our free Franchise Kit or contacting us today.