senior 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.

Avoid the Top Home Care Business Problems by Franchising

New home care franchise owners can face a number of problems when starting out. By choosing to start a home care franchise, you can avoid common mistakes and setbacks. One of the benefits of choosing to operate a home or assisted living franchise is that the support from the proven franchise system helps you avoid these pitfalls. Here are a few of the top problems new home care franchise owners can face:

Licensing

Jurisdictions in most states require an operating license for a home care agency. Requirements vary from place to place, but many jurisdictions require a detailed package with the license application, as well as a formal business plan, and description of policy. Franchisees often receive local support from an area director or area representative to help them navigate this process and get them up and running as quickly as possible.

Staffing

In a business involving home care or assisted living, your staff is your main asset. Identifying, recruiting, and hiring top-tier candidates can be a challenge. However, some home care franchises like Always Best Care can train you with a proven staffing system to help your business recruit and retain the kind of employees that you need to keep things running smoothly!

Client Development

Your key source of clients in the home care business will be referrals from other home care providers. Hospitals, insurance companies, social workers, long-term care facilities, and rehabilitation centers can all partner with a home business to provide care. Again, a proven franchise system usually includes a marketing plan and a system to help you build a network of referrers to help keep your client base strong.

Every day is filled with a new question or challenge, so having someone to turn to is the benefits of franchising.

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.

What Kind of Leader Are You For Your Franchise?

Leadership is a special commodity; one that some people are born with, while others have to work to cultivate it. Some people are skilled at making deals and seeing real opportunity, but they struggle with leading teams of people in pursuit of a common goal. Others have natural leadership abilities, but they don’t know how to harness and leverage them properly. Still, there are franchise owners out there who possess strong leadership skills, but they may possess a style of leadership that doesn’t work well with their specific organizations and the needs of their people.

As a senior care franchise owner, you are the person your people will turn to for leadership, whether you consider yourself a good leader or not! The good news is that every single person can be a good leader if they can be self aware and understand their strengths.

So how can you understand, harness, cultivate and drive your instincts as a leader for your franchise?

Understand the Different Types of Leadership

Different people have different ideas about the styles of leadership that people can employ, but author, psychologist and leadership expert Daniel Goleman has determined that there are six major leadership styles:

The Coercive Leadership style demands immediate compliance, and works wonders during times of crisis. But it’s not the healthiest style to employ under normal circumstances.

The Authoritative Leadership style is a “classic” way of leading people and mobilizing a team to focus on a common goal. However, this style can sometimes get in the way when a team of experts is already running on all cylinders.

The Affiliative Leadership style values empathy and communication, and it’s great at bringing people together. On the downside, this style can ignore poor performance, leaving it uncorrected.

The Democratic Leadership style builds consensus and participation, but can get in the way when quick, decisive action must be taken

The Pacesetting Leadership style works extremely well when quick results must be achieved. But it often relies on leaders taking over for employees, which can erode trust within an organization.

The Coaching Leadership style works wonders when it comes to building individuals up and helping them achieve their personal and professional goals, but it can fall short during times when leaders lack the expertise to truly inspire others with their ideas.

What Style Resonates with You?

There is no one style that’s better than the others; it’s all about using the right style for the right situation. But before you can tap in and employ the ideal style at the right time, you need to develop your self awareness so you understand which style comes naturally to you. Once you are aware of your own tendencies, you can change your style, as needed.

For example, maybe you see yourself as a Coaching Leader. You see peoples’ hidden talents and you want to help nurture them along so they can realize their true potential. This is great, and it can really help your franchise! But during times when your business is on the line and there’s no time for nurturing, this style will actually hurt your ability to lead effectively.

Are you curious to learn more about the various leadership styles (and how you can leverage them effectively)? Stay tuned to our next post, which will explore the styles in greater detail!

More Information

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.

5 Reasons to Consider Senior Care Franchise Ownership This Year

If you’ve been considering a jump into the world of business ownership, it’s probably something that you’ve been thinking about for quite some time. Starting your own business is not an endeavor that should be taken lightly, and if you’ve been dreaming of it for a while, you want to make sure the time and situation is right before you dive in. Perhaps you told yourself that you would take that leap this year, but now it feels like it’s too late with everything that’s going on. So maybe you’re considering making your move next year so you can start fresh with a new number on the calendar and the challenges of the previous year behind you.

Unfortunately, next year will probably be no less busy and/or challenging than this one, so maybe it’s a good idea to get the ball rolling today. If your business idea is to own and operate your own senior care franchise, there’s no better time than right now to get started.

Here are five of the reasons why you should consider senior care franchise ownership this year:

#1 — The Industry Is Growing; Get In as Early as You Can!

The senior care industry is growing and transforming, largely thanks to the influence of the Baby Boomer generation, which is seeing its members retire in massive waves. The “boomers” aren’t interested in “traditional” senior care options like nursing homes; they want to stay at home and use services that provide outstanding in home care.

If you want to get in as close to the ground floor as possible with your senior care business, we suggest you act now!

#2 — Seniors and Their Families Need Help Today

When you run a business, it’s good to know that what you do isn’t just good for you; it’s good for the community at large. This is absolutely the case in senior care. Right now, families in your area are searching for senior care solutions. Let your new business be the one to help them!

#3 — The Franchise Is There for You

Maybe you’re putting off business ownership because you’re not ready to jump through hoops and cut through endless amounts of red tape. Consider this, though: one of the key benefits of franchise ownership is the fact that the franchise is there for you, ready to give you the assistance you need to get your business off the ground. When you own a franchise, you get plugged into an entity that has the experience and know how to get you going on the right foot.

#4 — Get Good Word of Mouth Going Right Away

Senior care franchises rely on the owner’s ability to generate a strong presence in the community. And there’s nothing quite as valuable as good word of mouth. The sooner you get started building your reputation, the sooner you can experience the benefits of franchise ownership.

#5 — Why Not?

Seriously. Why not get started right now? You’ve been thinking of it for a while and time isn’t slowing down any time soon. And right now is a great time to get into the senior care industry. Sure, you can continue to put it off, but the only way you’ll be able to live your dreams of business ownership is by taking the first step. And the best time to start is right now!

Learn More

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

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.

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:

A business plan will help you develop a solid financial strategy and help you convince lenders of the viability of your business.
The process of writing a business plan will prompt you to plan, ask questions, and anticipate issues that you may not have considered initially.
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!

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

Connecting With Your Community — The Key to Running Your Franchise Effectively

Being a presence in your community is a crucial component to operating an in-home senior care franchise. After all, people will be much more attracted to the services you offer if you can demonstrate that your business is — as we like to say — a resource for the community. You can become a resource by developing your skill set and putting yourself out there as a leader in senior care.

Following are just a few of the ways in which you can ensure that people look at your franchise as more than just a local business.

Find Your Niche and Show Why You’re the Expert

What is it about senior care that attracted you to the business?

You probably have a personal interest in senior care, or maybe you have expertise in a certain aspect of senior living. Perhaps you’re passionate about changing the face of senior care to accommodate the Baby Boomer generation. Or, you witnessed a relative struggle with the hard choices associated with staying at home, or entering a nursing facility.

Whatever your specific area of interest in regard to senior care, you can use it to help build your business.

How?

Carefully and steadily build your knowledge base through training, community involvement, Certified Senior Advisor certification, or any other method that helps build your competence. Partner with local thought leaders in an area of interest to you (Alzheimer’s, Diabetes, Cancer Research, …) Consider becoming a SHIP (Medicare) Counselor.

Connect with local organizations and community leaders and see if there are opportunities available to give talks or lead workshops for audiences interested in your area of expertise. Doing this shows people that you’re not just a local business owner; you’re a passionate expert who is in business to truly help people and provide resources for those in the community who need them.

You can also leverage your specific expertise by writing informative blog posts, podcasting or arranging for interviews with local media. The more your voice is heard by people in your area, the more likely they are to think of you when the time comes to make decisions about senior care.

Make Sure the Rest of the Senior Care Community Knows Your Name!

Always Best Care franchise owner Susan Oderwald talked about this during our recent interview with her, and it’s something that can help you make a name for yourself — and your business: Network, network and network some more! Make a point to meet with key individuals in the greater senior care community, including hospice care providers elder-law attorneys, skilled care providers and others. Expand your sphere of contacts. These people can become amazing referral sources for you, but you’ve got to do the work to ensure that your name is always on the tips of their tongues.

When you can start showing up to community meetings knowing everyone’s name, you can be sure that you’ve made a name for yourself, helping your business immeasurably.

Follow the System

You’ve got to work hard on your own to make it as a senior care franchise owner, but you’ve also got to be able to trust the proven system that’s in place to help you grow. Area Representatives and National Directors from your franchise’s support office want you to do your best, and they will give you all the necessary tools and strategies. It’s what sets franchise ownership apart from other types of business opportunities, and it’s what’s going to give you the edge you need to make an amazing impact in your community!

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.