If you’d love to become your own boss and start your own business in an industry that’s recession-proof, profitable and truly valuable, you might thrive running a homecare franchise. Read on, and you’ll discover everything you need to know in order to successfully enter the healthcare space and start your own home care franchise.
From 2018 to 2038, 57% more adults aged 65 and over in England will require care (and 29% more adults between the ages of 18 and 64) [Department of Health and Social Care]. Domiciliary care businesses are in a great position to meet this rising demand, and if you choose to invest in a home care franchise, you’ll know the need for your services isn’t going anywhere any time soon. Find out how to start your own franchise in this lucrative industry below.
What does a home care business do?
Before you start a home care franchise, it’s important to gain a strong understanding of what, exactly, a caregiving business does - and what you’ll be doing if you invest. Though this will vary from investment to investment and require more in-depth research for each opportunity, you’re likely to be doing some or all of the following tasks:
- Managing a team of carers
- Communicating with clients about their needs/the needs of their loved ones
- Maintaining high standards of care and customer service
- Supporting the physical and mental wellbeing of your patients
- Administering and/or distributing medications
- Managing your franchise’s day-to-day operations and processes
- Marketing your franchise
- Staying up-to-date on the latest industry trends and developments
- Why consider running a home care franchise?
If you’re feeling yourself pulled towards franchising in the home care sector, you should know that though the work can be challenging and emotional at times, it’s also intensely rewarding and value-driven - and one of the many significant benefits of this type of investment. Other benefits include:
- Steady, rising demand (as mentioned above)
- Recession-proof demand (also mentioned above)
- Flexible working hours and working freedom as your own boss
- The chance to build a highly scalable business for a low-cost initial investment
- Access to comprehensive franchisor support and training
- The opportunity to truly help others within your community, making a positive difference each working day
>> Read more:
How to start a home care franchise
1. Assess your suitability for the industry
Some homecare franchise networks require their franchisees to have certain experience in order to invest, while others are willing to accept franchisees from a range of backgrounds, confident that their training provision will fill knowledge gaps and equip you for success regardless of experience level.
Still, though you’ll be able to find an investment to make without prior experience, you should definitely consider your decision carefully if you’ve never worked in the industry before. You WILL need certain transferable skills to thrive, and if you don’t have them, you might not be a good fit for the sector. Skills, most of which can be honed over time, such as:
- Stress management
- Time management
- Flexibility and adaptability
2. Consider costs carefully
Having determined that you’re a good fit for the industry and found some franchise networks that suit you, it’ll be time to carefully think about all the costs associated. The more deeply you research and dive into the costs, the more likely you’ll be to find a true financial match. Consider not just initial investment fees, but ongoing franchising fees, equipment costs and more. Speak with franchisors and current franchisees to get as much intel as you can. Here are a couple of cost examples from the home care sector, to give you a sense of your starting point:
- Apollo Care - To become an Apollo Care franchisee, you’ll need to make a minimum initial investment of £12,500, with franchise fees of £25,000.
- Blossom Home Care - To become a Blossom Home Care franchisee, you’ll need to make a minimum initial investment of £35,000, with franchise fees of £37,500 and a total investment cost of £70,000.
3. Do your due diligence prior to investment
Third and finally, while franchising is a very exciting prospect, it’s also a serious and legally binding commitment. When you think you’ve found the ideal franchise opportunity for you, make sure to do your due diligence before you sign on the dotted line of the franchise agreement. That way, you’ll know you’re 100% getting what you’re paying for. Here’s a definitive due diligence checklist to follow:
- Review the FDD
- Review the franchise opportunity in full
- Ask about turnover and length of time to recoup your initial investment
- Ask about training and support provision
- Speak with your franchisor and get answers to all of the questions you have
- Speak to existing franchisees and gain a sense of their experience with the franchise
- Seek legal advice on the contents of the franchise agreement before you sign
>> Read more:
- Franchising 101: The Official Franchise Start Up Checklist (Part 1)
- Franchising 101: The Official Franchise Start Up Checklist (Part 2)
- New Year, New Career: No Better Time Than Now to Start a Franchise Today
- Franchising 101: 8 Signs You're Ready to Start a Franchise
- Starting a New Business Doesn't Always Lead to Immediate Success: Here Are 5 Ways to Change That
- It's Never Too Late to Start a New Business
Home care franchise opportunities
Established over 10 years ago, PerCurra is an award-winning home care business offering an extensive range of services. The franchise works with people who have learning disabilities, physical disabilities, mental health issues and physical health issues.
- Becoming a PerCurra franchisee: You’d benefit from having experience in the care sector, but this is preferred, rather than essential. Most importantly, PerCurra franchisees must be willing to follow the proven system of the franchisor.
- How much you need to invest: You’ll need to make a minimum initial investment of £20,000, with franchise fees of £10,000 and a total investment cost of £30,000.
- What you get for your investment: You’ll receive help with finance, an IT platform, a care staff recruiter, in-territory support, training, materials, systems and all the information and advice that you need.
This family-owned franchise was established in 2014 by Silviu and Cristina, a sibling team. Both founders had experience in social care and nursing, and wanted to put this experience to good use, creating SylvianCare’s professional and personal approach to home care.
- Becoming a SylvianCare franchisee: You should have previous management experience. Working knowledge of management accounts and profit and loss reports would also be beneficial. Plus, you should be ready and willing to follow SylvianCare’s proven systems.
- How much you need to invest: You’ll need to make a minimum initial investment of £30,000, with franchise fees of £10,000 and a total investment cost of £62,500.
- What you get for your investment: You’ll receive advice on site sourcing, business planning and applying for funding. Your franchisor will work with you on your CQC registration application, and you’ll also receive head office training and ongoing support.
Why not become a franchisee with a home care business?
If, after reading this article, you’re more certain than ever that you’d like to invest in a home care franchise and start your business ownership journey in this sector, stay on Point Franchise and continue your research. Discover how to make a career change with a home care franchise and browse the top four home care franchises in the UK.
Lily Sweeney, Point Franchise ©