How Much Does a Franchise Cost?
The rest of your initial HomeWell franchise cost depends on your launch needs. Some things, like certifications or office supplies, you may already have. Others, like furniture and insurance, are likely to be additional expenses for any franchisee. Here are some things you should factor into your start-up costs:
- Franchise fee
- Travel expenses
- Real estate
- Office furnishing
- Computer hardware and software
- Office supplies
- Marketing materials and strategy
- Payroll expenses
- Caregiver recruitment, hiring and training
- Professional fees
- Pre-launch and opening costs
- Three months of additional funding
Furthermore, you should also have funding to cover at least three months of expenses. This stipend gives you time to find and train staff and get your business set up and running. As with any business, it will take time for you to start seeing returns on your investment in a HomeWell Care Services franchise. You should plan to be able to fund your business for a couple of months on your own.
In total, your initial investment could range from $96,900-$225,800, including the starting fee. Because we’re dedicated to complete transparency, we’ve broken down each estimated expense listed above and their expected highest and lowest costs in your Franchise Disclosure Document (FDD). Take the time to read over this document carefully, and even if you hope to keep costs at their minimum, you should have plans in place to cover their maximum determinations.