non-medical home care franchise - Senior Home Care Franchise

8 Questions To Ask A Senior Care Franchisor Before Buying In

Starting a business requires a huge commitment, and senior care franchises are no exception. Despite a common misconception, a franchise is not a business-in-a-box, and requires a lot of hard work and dedication. At the same time, the appeal of a franchise, for many, is that it has the advantage of an established brand and a business model with proven success.

Identifying a well-established franchise with a high degree of success is only your first step in determining which franchise is right for you. The fact that other people have had success does not guarantee that you will be successful and, therefore, it is exceedingly important to ask the right questions before making a decision. Here are some key questions to ask franchisors:

What kind of financial assistance do you offer to franchisees? Many franchisors offer financing assistance, so be sure to inquire about how a franchisor may be able to help you in this regard.

Do you provide ongoing training in the form of conferences, seminars, meetings, etc.? Ongoing training, especially when included at no additional cost to you, can help ensure your success.

Tell me about some of your most successful franchisees and the secrets to their success?

What is the day-to-day business like for your franchise? This will give you a sense of what you can expect as a franchise owner and can help you determine whether this particular franchise is right for you.

Tell me about the overhead expenses I can expect with your franchise?
What problems do your franchisees most often run into? This can give you valuable insight about what problems you’re most likely to run into, allowing you to plan in advance.

What kind of insurance will I be required to carry with your franchise, and can you give me an idea of what it might cost?

Do you offer exclusive territories? If the franchisor doesn’t offer exclusive territories, rapid growth of the franchise means that you could be competing with other locations that pop up in close proximity to yours.

These are just some of the questions to ask during the consideration process. The more information you have, the better prepared you’ll be to make a smart, informed decision about which franchise is right for you.

About Always Best Care

Always Best Care is one of the nation’s leading providers of non-medical in-home care and assisted living placement services. The company delivers its services through a national network of nearly 200 independently owned and operated senior care franchise territories throughout the USA. Always Best Care has been named one of the top franchises for minorities by the National Minority Franchising Initiative, and one of the top franchises for veterans, as featured in USA Today.

Want to learn more about the exciting and rewarding prospect of franchising in the senior care industry? Download our FREE eBook today!

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

401K Home Care Franchise Funding

Should I Use 401K Funds to Start a Home Care Franchise Business? It’s a question many ask every day. The economic rollercoaster has made it more difficult for individuals to find funding to start a business as financial institutions have become more reluctant to issue loans. With fewer options, many people hoping to start a business are seeking alternatives to traditional bank loans.

The days of lending to people with no assets, no income and/or no job are long gone (and for good reasons). Given the greater difficulty of obtaining funds, more people are considering tapping into retirement funds to launch a business. Is this a good idea? Let’s explore some of the advantages and disadvantages of tapping into a 401K to get a business off the ground.

Benefits of Using Retirement Funds

If you decide to withdraw funds from a retirement fund such as an IRA or 401K, how you do so is exceedingly important. A Rollover for Business Startup (ROBS) allows you to tap into retirement funds with no penalties or taxes. Compared to cashing out a 401K or IRA, which would result in a 10% early withdrawal fee, in addition to up to 30% taxation, using a Rollover for Business Startup is the wiser choice and, thus, has seen a dramatic increase in recent years.

Additional advantages of sourcing money from retirement accounts include:

Secure funds quickly—usually in just two to three weeks
Use the funds to pay yourself a salary during the start-up of your business
No interest on the loan, thus moving you closer to profitability sooner
Improved cash-flow situation from the start

Disadvantages of Using Retirement Funds

As with most loans, there are disadvantages to using retirement funds to start a business. The first concern is the risk associated with using funds previously set aside for retirement on a business that may not ultimately succeed. Additionally, your financial advisor may charge you several thousand dollars for the paperwork to process a rollover, in addition to fees for managing the new fund.

Make sure to do your research when considering whether to use retirement funds to start a business, as there are some considerable risks—you should know what’s at stake before you make any final decisions.

Always Best Care is one of the nation’s leading providers of non-medical in-home care, assisted living placement services, and home health care. The company delivers its services through a national network of over 200 independently owned and operated franchise territories throughout the USA.

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

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

Realize Your Dream of Helping Seniors through Franchising

The senior care industry is growing rapidly. Roughly 13% of the current US population is 65 or older — a number that is projected to increase to around 20% by the year 2040. Changing demographics and an aging Baby Boomer population are creating unprecedented need for senior care services, as well as unprecedented opportunity in this growing industry.

The needs of seniors vary dramatically—some seniors need help with everyday activities like errands, bathing, dressing, medication management and housekeeping, while others have medical conditions like dementia, Alzheimer’s or diabetes that require monitoring and care. Still others require round-the-clock care in an assisted living community or nursing home.

Starting a Senior Care Franchise Business May Be Within Reach

If your passion is helping seniors, and you have a mind for business, starting a senior care franchise may be right for you. The extent of care you are prepared to provide seniors may be dependent on the amount of capital you have to launch the business. For example, non-medical in-home senior care does not require a medical staff or medical equipment, making your start-up costs lower than that of a home health agency that provides medical care.

You can launch a non-medical in-home care business with between $74,000 and $150,000.

If helping seniors is your dream, owning and operating a senior care franchise can help you make that dream a reality, and senior care is one of the most recession-proof industries in the nation. Learn more about franchising with Always Best Care. Always Best Care is one of the nation’s leading providers of non-medical in-home care, assisted living finder and referral services, and skilled home health care. The company delivers its services through a national network of over 200 independently owned and operated franchise territories throughout the USA.
Learn more about senior care franchising by downloading our FREE eBook today!

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

Character Traits of Successful Franchisees

While most anyone with the funds and ambition can find a franchisor willing to sign them on as a franchisee, owning a franchise is not necessarily right for everyone. It’s important for prospective franchise owners to look inward and evaluate how they want to run a business. Contrary to how some may envision franchises, they are not businesses-in-a-box.

It’s important to evaluate your needs when considering becoming a franchise owner—do you want a lot of free time? Is spending time with your family a priority? Do you have the skill set required of a franchise owner?

“Franchise King” Joe Libava told Entrepreneur Magazine that modesty is in order when starting a franchise. Even if a person has decades of experience in a high ranking position, Libava said, he or she must follow the rules of the franchise, regardless of their experience. It’s important to remember why a franchise business was appealing in first place—avoiding mistakes and buying into a brand with a proven track record of success, for example.

One important consideration is whether you are okay with following someone else’s rules. Rule-breakers and independent-minded folks will likely have difficulty in a franchise environment. A franchisor worthy of your buy-in will already have a proven recipe for success, and the expectation will be that you follow that recipe.

Owning and operating a senior assistance services franchise requires an especially serious commitment, considering the level of care and responsibility involved. If you have a true passion for helping others, your personality is compatible within the franchise model, and owning a business is your dream, franchising with Always Best Care may be right for you.

Always Best Care is a leader in non-medical in-home senior care in the United States. We have been rated among the best home care franchises in the United States. Learn more about the services we provide and about becoming a franchisee on our website.

Learn More

Are you interested in learning more about what it takes to be successful as a senior care franchise owner during the aging-in-place boom? Always Best Care is here to help you navigate the industry as one of our franchise owners! Download our FREE franchising ebook today to learn more.

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

Running a Successful Franchise Business

Buying into a franchise does not equal automatic success. As many of us have experienced first-hand as consumers quality of service, efficiency and product quality can vary greatly from one franchise operation to the next. Here we outline some of the key steps to running a successful franchise based on the advice of expert Joe Libava, dubbed the “Franchise King.”

First and foremost, have a plan and stick to it. It’s easy to get caught up in the day-to-day operations of the business, and not follow the plans and protocols you’ve outlined for yourself. But straying from the plan can lead to financial breakdown and customer dissatisfaction.

Don’t ignore the instructions and tools given to you by your franchisor. Those tools have had proven success and are there to ensure your success and the continued success of the brand. Many franchisors provide franchisees with tools for training, sales, marketing, tech support, and more. Take advantage of them!

Remember the golden rule: the customer is always right. There’s no doubt that poor service will keep customers away, and as word spreads, deter new customers from patronizing your business. Make sure your employees are trained to provide excellent service at every level and are held accountable should they fail to do so. Repeat customers are vital to the success of any business, and providing excellent service should be central to your strategy. Offer incentives to draw repeat customers and make sure your customers know they are valued.

Network to give your business an edge. Networking with other business professionals or joining your local chamber of commerce or small business group will likely lead to the exchange of ideas and information that could help propel your business forward. Be sure to network with friends and family, as well—your biggest allies—to get the word out about your business.

Being proactive, diligent about excellent service and networking can all help you be a more successful franchise business owner.

Start Your Own Senior Care Business

Franchising with Always Best Care could be the opportunity you’ve been looking for to make a real difference in the lives of seniors. Always Best Care is recognized as a leader in the non-medical in-home senior care industry. To learn more about franchising with Always Best Care, visit our website.

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

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

8 Traits of Successful Senior Care Franchise Owners

Franchise ownership gives entrepreneurs the chance to flex their muscles with their own businesses, but with the training, support and name recognition that comes with partnering with an established brand. The senior care industry is becoming increasingly popular among new franchise owners because of its potential in the coming years — the “Baby Boomer” generation is hitting retirement age and its members prefer to age in place. The demand for excellent in home senior care will only rise in the coming years, making franchise ownership in this sector incredibly attractive. However, operating a senior care business takes inspired leadership and some important traits.

If you’re curious about getting into senior care, but you’re unsure if you possess the right qualities, read on to learn about the 8 traits of successful senior care franchise owners!

#1 — Confidence

When you own a senior care franchise, you’re running a business, and it takes a strong belief in yourself to ensure that your business succeeds. You also need to have confidence in your ability to serve the community by providing excellent senior care.

#2 — Ingenuity

As a business owner, you need to be able to generate the kinds of ideas that will make people take notice of what you’re doing. However, you have to be able to be innovative within an existing structure, which brings us to…

#3 — You Can Follow the System

Franchise ownership gives you the freedom to use your ingenuity, but it also supplies you with a system that increases the likelihood of success — if you follow it!

#4 — Passion

As a senior care franchise owner, you’ll be working directly with people who are facing challenges in their lives. If you’re not passionate about helping seniors and their families in your community, you won’t be able to inspire confidence in them about your ability to provide the best care.

#5 — You Are a “People Person”

Your senior care business isn’t a widget factory that churns out products; it’s a collection of individuals who provide outstanding care and support for human beings in your community, and you are responsible for providing leadership and inspiration.

#6 — Trust

Area Representatives and National Directors are there because they’ve proven their ability to serve your community in a way that also benefits the business as a whole. You have to be willing to listen to those experts and trust that following their advice is always in your best interest.

#7 — You Can Delegate

Franchise owners who surround themselves with good, hard-working people are more likely to succeed. But they have to be willing to delegate tasks to those people. Learning to delegate effectively is one of the most difficult things for business owners to do, but it’s absolutely essential in the pursuit of business goals.

#8 — The Belief that In Home Senior Care Makes a Real Difference

Owning a senior care franchise isn’t just about providing an additional option to seniors and their families; it’s about providing a resource that really helps people in your community. It’s about recognizing the needs and wants of today’s (and tomorrow’s) seniors, and doing the work necessary to turn those desires and values into reality.

Are you interested in learning more about what it takes to be successful as a senior care franchise owner during the aging-in-place boom? Always Best Care is here to help you navigate the industry as one of our franchise owners! Download our FREE franchising ebook today to learn more and refer to our most recent Franchise Disclosure Document for important details.

Success Rate of a New Franchise Business vs an Independent Start Up

If you are considering starting your own business, you must decide if you want to start your own independent start-up business or invest in a franchise. Both types of businesses have qualities you will need to consider carefully when making this decision. Certainly with an independent start-up you are able to make all the decisions on how to run the business, but with a franchise you gain brand name recognition and supportive assistance. One of the main points you will need to look at is the success rate of both types of businesses. Below is a look at the success rate of starting a new franchise business vs starting an independent start-up business.

Success Rate of a New Franchise

A new franchise is associated with a main brand name company. The new franchise owner must purchase the rights to open their business from the main company. While start-up costs for a franchise may be less expensive than an independent business, franchise owners may incur added costs further down the road.

A study by the International Franchise Association (IFA) suggested that at many as 95 percent of new franchises were still in business after five years, and 91 percent after seven years.

As a way to further support IFA’a figures, FranNet completed another survey where it followed 1,260 new franchises from 2006 to 2010 to see what the success rate was. According to this survey, 91 percent of the new franchises were still in business after two years, and 85 percent of these franchises were still in business at the end of four years. Both studies show a very high success rate for new franchise owners.

Success Rate of an Independent Start-up

An independent start-up is a business that is built from the ground up and is not associated with any other brand name company. Typically, the start-up costs for these independent businesses are slightly higher and require the business owner to have an in-depth knowledge of how to manage and operate a business.

Statistics show the success rate for independent start-up are much lower than those for franchise companies. According to the US Bureau of Labor Statistics and the US Small Business Administration, 70 percent of independent start-ups are still in business after two years, and 50 percent of still in business after 5 years. This number drops to just over 30 percent for independent start-ups that last longer than 10 years, and 25 percent for those lasting more than 15 years.

The success rate for a new home care franchise seems to be much higher than those for an independent start-up business. This large difference may be because franchises offer a vast amount of supportive services to new business owners to help them start and operate their businesses, which many new start-up owners just do not have.

Learn more about senior care franchising and download our FREE senior care franchising E-book today!

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

Three Reasons to Start a Senior Assistance Services Franchise

According to the Administration on Aging, as of 2009 there were 39.6 million people in the US aged 65 or older, which represented 12.9 percent of the population at that time. These numbers are expected to increase dramatically by 2030, to around 72.1 million. The growing demographic of seniors in this country translates to a growing need for senior assistance services.

There are many reasons to consider starting a senior care services franchise. Here we discuss a few:

Fulfilling a Growing Need — With the aging Baby Boomer population, the number of elderly folks in the US is expected to double over the next 15 years, which will dramatically increase demand for in-home assistance. Many seniors would prefer to stay in their homes and maintain as much independence as possible, rather than live in an assisted living facility. By starting an in-home assistance franchise, you will be fulfilling a growing need in this country.

Doing Meaningful Work — A growing number of seniors will need both non-medical and in the coming years and decades. By starting a senior care franchise you’ll make a real difference in the lives of hundreds, perhaps thousands, of seniors who will need help with daily activities.

Working in a Recession-Resistant Market — Unlike many consumer products that people often go without during times of recession, medical and living assistance are essential services. Considering the fact that seniors are the fastest growing segment of the population, and considering the numbers of seniors who will require assistance in the coming years, elder care services is considered to be a recession-proof industry.

As with starting any business, there are many considerations, and careful planning is required in order to be successful. If starting an assisted living franchise appeals to you, considering franchising with Always Best Care, consistently ranked among the top 100 franchises in the United States. Learn more on our website.

To learn more about franchising in the senior care industry, download our FREE eBook today!

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

Top Five Home-Care Myths and How to Dispel Them

Most seniors, when asked, respond that they would prefer to remain in their homes as they age, rather than move to an assisted living facility. Often, however, the homes in which they have lived for many years have become too big to maintain, or they begin to have health issues, and their family members can’t always be there to help. Still, many seniors and their family members remain wary of hiring help from a home care business, largely due to a few misconceptions surrounding in-home care. Here are five of the most common myths regarding non-medical home care:

Only very sick people need home care.

While it’s true that very ill people may seek in-home care, non-medical home care businesses also provide simple services, like homemaking, personal care, or companionship.

Home care is too expensive.

Compared to other senior care services, home care is one of the most affordable options. A large percentage of family caregivers over-estimate the costs of non-medical care by as much as $6.00 per hour. Additionally, some clients of in-home care franchises only require services for a few hours per week.

Home care clients have no say about who comes into their homes.

Caregivers are often carefully matched to clients’ needs and interests, and professional home-care workers are carefully screened.

In-home care will reduce the client’s independence.

This is often the top concern of seniors who are considering home care, and it’s tough to convince them that, in fact, the opposite is true. A professional caregiver can help the client remain in the home, while helping to keep them socially engaged, providing transportation to favorite activities, and helping prevent falls and other accidents which can reduce a senior’s mobility.

If a family caregiver is present, there is no need to hire a home care worker.

If a family caregiver is on-call 24 hours a day, this can lead to emotional and physical exhaustion. Burned-out caregivers cannot provide quality care, no matter how much they may wish to. By hiring a home-care worker, families can give the primary caregiver crucial respite and relief, without having to remove the senior relative from his or her home.

For franchising opportunities and information on the senior care industry, download our FREE eBook today!

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

Exploring and Maximizing Leadership Styles

In our previous blog post, we took a look at the six major leadership styles, as described by Harvard researcher and leadership expert Daniel Goleman. As a senior care franchise owner, you lead a diverse team of individuals, and you’ve got to know how to get the most out of them.

The first step in your journey of leadership self awareness is determining which leadership style comes most naturally to you. Then you can shift your style, as needed. But it’s also necessary to learn how to employ the other five styles — even if they don’t seem natural, using them during the proper times can help you steer your franchise in the right direction.

Let’s take a deeper look at the six styles!

#1 — Coercive Leadership

Is this you?
If you are a coercive leader, it’s natural for you to demand that people do what you tell them, without question. You expect high achievement and big results without a lot of debate.

When it works
This style is the most effective when your franchise is in crisis mode or you need a quick turnaround. It is useful when you need to “shock” people into a new way of doing things.

When it doesn’t work
The coercive style should only be used when absolutely necessary; otherwise it can have a severe negative impact on collaboration, flexibility and morale.

#2 — Authoritative Leadership

Is this you?
Authoritative leaders display tremendous enthusiasm and possess a clear vision. Leaders of this type are powerful motivators.

When it works
Of the six leadership styles, this one is the most versatile and effective, overall. It allows leaders to get the most out of their people by inspiring them to greatness.

When it doesn’t work
This style can fail when teams of experts don’t respect the leader’s knowledge, or when big changes are required.

#3 — Affiliative Leadership

Is this you?
Affiliative leaders put people first. If you are such a leader, your focus tends to be on creating harmony, fostering communication and building empathy.

When it works
The Affiliative style works well when it’s necessary to boost morale and/or get people to work together more collaboratively, with greater harmony and a sense of unity.

When it doesn’t work
Because this style focuses so much on giving praise, it can be ineffective when it’s time to address poor performance among team members.

#4 — Democratic Leadership

Is this you?
If you are a democratic leader, you believe in the power of consensus and the importance of getting your team members to “buy in” to the mission of your franchise.

When it works
This style is particularly effective when you are unsure of a direction to take, or you need to untangle a thorny situation. It builds morale because it values the opinions and thoughts of employees so highly.

When it doesn’t work
Democratic leaders can get caught up in meetings and the search for consensus, so much so that they fail to take action when decisiveness is the best course.

#5 — Pacesetting Leadership

Is this you?
If the phrase, “lead by example,” resonates with you, then you are probably a pacesetting leader. You know how to do things “the right way” and you’re always ready to show your team how things ought to be done.

When it works
When used sparingly, this style can motivate a team and show your people that you’re willing to get in “the trenches” and perform hard work for your franchise.

When it doesn’t work
Pacesetting leadership can have a negative organizational impact when it’s overused, especially when it’s employed during times when team members need to build confidence in themselves.

#6 — Coaching Leadership

Is this you?
You believe in your people and you want them to achieve their goals. You often put franchise goals on the back burner so you can counsel your people and help them do their best.

When it works
This is the best style to employ when employees are eager to learn and hungry to find out new, better ways of doing things.

When it doesn’t work
This style is ineffective when leaders lack the expertise to coach their people with authority. It can also backfire when employees are apathetic and unwilling to learn.

Learn More

Are you interested in learning more about what it takes to be successful as a senior care franchise owner during the aging-in-place boom? Always Best Care is here to help you navigate the industry as one of our franchise owners! Download our FREE franchising ebook today to learn more and refer to our most recent Franchise Disclosure Document for important details.