If you’d like to start a home care business and help people continue to lead fulfilling lives, you might be interested in becoming a franchisee. The franchise sector has a wide variety of elderly care companies, but here we’re asking: Does Caremark franchise?
Caremark offers high-quality home care services across the UK and internationally. Since 2005, it has provided qualified carers and tailored support for individuals who need extra help in their day-to-day lives. The business’s main objective is to help people continue to live in their own homes and maintain a sense of independence.
Does Caremark franchise?
Yes, Caremark is one of the UK’s top home care franchise opportunities, and it has demonstrated its credibility by registering with the British Franchise Association (BFA).
History of Caremark
The Caremark story began in 1987, when Kevin Lewis set up a rest home in Brighton. Over time, he was able to build up his business and, in 1993, social services invited him to diversify and start providing in-home care. Before long, Kevin was the CEO of one of his area’s leading care providers. In 2005, he launched the Caremark brand.
Today, Caremark is a highly successful franchise with a network of more than 5,500 operators across the UK. On average, franchisees generate a yearly turnover of £345,000.
With the elderly population set to grow by up to 60 percent in the next two decades, home care providers are delivering an increasingly important service.
It’s an opportunity to run a successful operation whilst fulfilling a social need to a high standard.
—Robert Johnstone, franchisee for Cambridge and South Cambridgeshire
Starting a Caremark franchise unit
The Caremark team has decades of experience, so investors can rest assured they’ll have the chance to launch a business with the backing of industry experts.
The home care franchise welcomes investors from a variety of different backgrounds, and you don’t need any specific experience in business ownership or healthcare to become a franchisee.
However, Caremark has developed a list of investor criteria. If you’re to set up your own home care business under the brand, you’ll need to have an interest in working with people in need and a caring attitude. A genuine passion for the care industry and a willingness to take responsibility for others as well as yourself are also key attributes for candidates.
Other requirements include:
- The ambition and determination to succeed
- An entrepreneurial spirit
- The commitment to set and maintain high standards
- Excellent communication skills
- General management skills
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Becoming a Caremark franchisee:
To begin the process of applying to be a franchisee at Caremark, you can either fill in the franchise form on the brand’s website or call up one of its team members. Before you can get started with the investment process, the franchise will ask for your name, address and contact details. You should also be able to tell the Caremark team how much money you can afford to invest and your preferred territory location.
Caremark aims to make the business set-up process as smooth as possible. After you’ve registered your interest in the brand’s franchise opportunity, the team will get in touch with you to confirm receipt of your application. If Caremark approves your registration, you’ll then meet its franchise director, and once you’ve agreed your territory, put down a deposit to reserve it for four weeks.
From this point forward, it’s your responsibility to finalise your business plan, secure funding and network with other members of the Caremark brand.
How much you need to invest:
The amount it costs to set up a Caremark business varies from site to site, but you should be prepared to make a total investment of around £140,000. The franchise suggests franchisees make a minimum personal contribution of £36,000 and have working capital of roughly £65,000.
Caremark has strong partnerships with several leading banks, which typically lend approved franchisees up to 70 percent of their total investment.
All franchisees must also pay ongoing management fees of 4.5 percent of their unit’s turnover.
We recommend you also have enough money to cover the extra costs of joining a franchise, including franchise solicitor consultations.
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What you get for your investment:
Caremark is passionate about supporting its franchisees as they build their businesses, so you can expect to benefit from an initial training scheme and ongoing communication with the franchisor.
Once you’ve signed your franchise agreement and paid your franchise fee, training can begin. Like all good franchises, Caremark is on hand to help its investors prepare for their launch day. Its start-up pack includes not only a comprehensive training programme, but operations manuals and reference guides too.
You’ll also get access to custom computer software and your own pages on Caremark’s official website, as well as an official email address. The franchise package even includes branded uniforms, signage, stationery and marketing material.
Plus, Caremark will be on hand to support you as you plan a PR programme and register with one of the industry’s official organisations.
Join the home care industry
Caremark offers investors a fantastic opportunity; the chance to set up and run a profitable and highly rewarding business. If you’re thinking about joining the healthcare sector, this brand could be ideal for you - but if it’s not, we have plenty of other high-quality investment options in our network.
For more entrepreneurial inspiration, browse our current selection of care franchises on the lookout for savvy investors. You might also be interested in children’s nursery brands, tutoring businesses or companionship services; you can find opportunities across a variety of different sub-sectors right here at Point Franchise.
Alternatively, use the search box to find other business guides on topics relevant to you or see our most recent publications.
Alice Tuffery, Point Franchise ©