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:

  1. 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.
  2. 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.
  3. Tell me about some of your most successful franchisees and the secrets to their success?
  4. 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.
  5. Tell me about the overhead expenses I can expect with your franchise?  
  6. 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.
  7. 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?
  8. 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!

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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!

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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:

  1. A business plan will help you develop a solid financial strategy and help you convince lenders of the viability of your business.
  2. The process of writing a business plan will prompt you to plan, ask questions, and anticipate issues that you may not have considered initially.
  3. 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!

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

Senior Care Franchise Ownership: Providing the Light in Senior Lives

Senior Care Franchise Ownership: Providing the Light in Senior LivesBeing awarded your own senior care franchise represents an awesome opportunity for you to make a difference in your own life — you will be operating a business with amazing potential! But unlike many other opportunities for starting a business, it also gives you the chance to provide meaningful support and assistance to those in the community who might not otherwise be able to attain high-quality senior care.

In-home care and the “aging-in-place” movement are driving the senior care industry — just take a look at this recent article in the Wall Street Journal — so there’s little doubt you’re making a great decision as a businessperson. But what’s truly special about being a franchise owner is the opportunity to provide area seniors with the kind of care that helps them get the most out of their “golden years.”

What Today’s Seniors Need

Do you remember visiting your grandparents or great-grandparents when you were growing up? It’s likely that during their later years, you went to spend time with them at a nursing home or other type of senior-living facility. Years ago, it was common for seniors to leave the home when they could no longer do everything on their own.

Times have changed, though, and today’s seniors are advocating for a better quality of life and more independence. For many of them, that means saying “no” to leaving home, even if they require some assistance and care to do so safely. That’s where you come in as a senior care franchise owner!

What do today’s seniors value?

  • Independence
  • Freedom
  • A comfortable, familiar living space
  • Quality time with family and friends on their own terms
  • Access to top-quality care in a comfortable setting
  • Companionship
  • The ability to maintain the lifestyle they have come to enjoy

Living a life according to these values is critical for an excellent quality of life. As a senior care franchise owner in your community, you can help seniors remain connected to those values, giving them the chance to truly get the most out of their post retirement years.

Senior Care Franchise Ownership: Providing the Light in Senior LivesBe the Bridge to a Better Life for Area Seniors

Senior care franchise ownership is more than just an excellent opportunity for you, professionally. It’s a chance for you to play an important role in your community, helping people who need better options when it comes to living according to their closely held values.

As a franchise owner, you will be providing an important service, but you’ll also be providing seniors and their families with light, love and peace of mind.

How?

  • Your in-home care business makes it possible for seniors to retain their independence
  • Your franchise’s compassionate caregivers fill in the gaps, providing assistance around the house so that seniors can remain where they feel comfortable
  • You will provide a more flexible and affordable option for families who might otherwise struggle with affording more “traditional” forms of senior care
  • Your business provides the support today’s seniors need to remain independent and free

Owning your own business means making a better life for yourself, but as a senior care franchise owner, it means so much more.

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.

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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!

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

San Antonio Home Care Business Market Growing

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According to the Federal Interagency Forum on Aging-Related Statistics, nearly 20 percent of Americans will be 65 or older by the year 2030. The populations of cities are aging, along with the statistics. San Antonio, TX counted ten percent of its population as being over 65 in the year 2010. As the large population of baby boomers ages, there are many opportunities to start your own senior care business. Senior care business opportunities are growing in San Antonio, and seniors there are looking (like seniors in other areas) to remain at home for as long as possible as they age. Family members and caregivers are anxious to conform to the wishes of their relatives, and many are looking for a senior home care business rather than a residential senior facility.

Even with the sluggish economy, the home care business is expected to grow 28 percent by the year 2020, adding more than 100,000 jobs during that time. This growth in the industry is becoming apparent in San Antonio, where the cost of senior care has steadily increased over the last five years. Between 2010 and 2011, when other industries saw reduction in earnings and jobs, home care businesses saw a 13% increase in job creation in the city of San Antonio. Franchise operators looking to start a home care business and who would be willing to re-locate should certainly consider San Antonio as a market for franchise operations. The industry is also expected to grow faster than the national average in other metropolitan areas in the state of Texas, as well.

Download our FREE eBook today to learn more about senior care franchising!

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

Five Ways a Home Care Franchise Changes Lives

As people age, everyday tasks often become more challenging.  Many senior citizens may find themselves in need of daily help with errands, chores and personal care, but their family members may not be available to the extent needed.  Non-medical in-home care is an excellent solution for individuals who need help with everyday activities, but who do not require daily medical care or monitoring.

Here are five ways a home care franchise is changing the lives of seniors and their families:

  1. Assisting seniors with everyday tasks –– In-home caregivers help seniors with meal preparation, grocery shopping, mail sorting and bookkeeping, light housekeeping, personal care and transport, among other things.
  2. Providing affordable care –– In-home care can be an affordable alternative to assisted living facilities, which can cost anywhere from $1,500-$7,000 per month.
  3. Giving families peace of mind –– Family members, especially those with young children at home, may find it difficult to help their loved ones to the extent they’d like.  In-home care professionals can provide family members with peace of mind, knowing that their loved ones are receiving the help and attention they need.
  4. Providing seniors with companionship –– Elderly people, especially those who are unmarried or widowed, often experience loneliness more acutely as they become more distanced from busy family members and friends, and spend more time at home alone.  An in-home caregiver’s companionship can go a long way to combat loneliness and comfort seniors.
  5. Helping seniors maintain independence –– For most of us, the thought of becoming dependent on others is uncomfortable.  Seniors frequently report that maintaining as much independence as possible is extremely important to them as they age.  In-home caregivers can provide assistance with certain tasks, while allowing seniors to maintain their independence.

The American population is aging—the number of people aged 65 and older is expected to increase to around 72 million, in the year 2030, in the United States.  Our aging population will bring increased demand for senior care services and alternatives to assisted living, such as in-home care.  Always Best Care is one of the leading providers of senior care in the nation and is ready to serve this population.

Always Best Care is one of the nation’s leading providers of non-medical in-home care, assisted living placement services, and skilled home health care.  The company delivers its services through a national network of nearly 190 independently owned and operated franchise territories throughout the USA.

Learn more about the exciting senior care industry in our FREE downloadable eBook!

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

How to Hire the Best for Your Senior Care Franchise

How to Hire the Best for Your Senior Care Franchise

As a senior care franchise owner, you’re going to have to hire caregivers to provide the services that your clients require, and we’ve covered tips on hiring excellent people in previous blog posts. But what about help when it comes to administering your business and making sure your efforts are spent where they are most needed? You can’t do it all by yourself, so it’s important to take the right steps when it comes to bring others on board. Thankfully, we’ve got some great tips!

What Do You Do Best?

As you consider the structure of your business and the roles you want to fill through hiring, it’s important to consider your priorities, talents and needs. Take some time to sit down with a notebook and ask yourself some tough questions. The answers will help you determine the type of personnel that you need to make sure your business runs as efficiently as possible.

  • What do you insist on doing yourself?  Why?
  • What do you dislike doing on your own?  Why?
  • In what areas would you consider yourself an expert?
  • In what areas do you feel like you’re far from an expert?
  • Do you need assistance with leadership?
  • Do you need help with senior care side of the business?
  • Do you need help with the administrative side of the business?
  • Where are your “blind spots”?

These might be some tough questions to answer, especially if you’re accustomed to taking on every challenge by yourself. But by examining your strengths, weaknesses and needs, you can begin to paint a picture of the types of people you can bring in to offer real, valuable help to your business.

Evaluating Potential Employees

Once you’ve considered what your role should be as the leader of your franchise, you should also have a clear picture of what you’re not going to tackle. These are the areas you’re hiring for!

It’s important to cast a wide net in your community to find the right people, and it’s crucial to explain exactly what you’re looking for as you  draft your hiring notices. The clearer you are in the description of what you require, the better your chances of finding the ideal employees.

As you look through resumes and applications, think about what you value in an employee, whether it’s experience, positivity or any other important qualities. The Interview

Once you’ve whittled down potential candidates, it’s time to sit down with them face-to-face. Here is where you can determine how well the potential employee will work with you.  Be prepared with good questions designed to tease out the person’s ability (or inability) to complement what you are doing as owner.  Really pay attention to the individual’s passion for senior care and helping others when discussing positions that are visible to the community.  Your business is a special part of your community, and you need to make sure that the people who represent you are there for something bigger than themselves.

Once you’ve gone through this process, you can feel confident that when your new hire signs the dotted line, you’ll be embark on a long, collaborative and fruitful relationship!

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.

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Need a Better Way to Be Your Own Boss? Consider Franchise Ownership!

Need a Better Way to Be Your Own Boss? Consider Franchise Ownership!When people think about the “American dream,” they tend to envision a nice home, a loving family and a rewarding professional life. The concept of independence also comes to mind, with many Americans dreaming of lives in which they are their own bosses.

Being your own boss is challenging, but it’s also one of the most rewarding aspects of living the “American dream.” Entrepreneurs embody this spirit, taking risks and confronting challenges in the name of freedom and independence. They also love the notion of providing for their families with an income derived from pursuing their own professional goals — not the goals of a boss or a corporation.

But traditional entrepreneurship is not right for everyone. It looks good on paper to many people, but in reality, it’s just too much to take on, especially when they have families to support. And for many would-be entrepreneurs, there are too many potential pitfalls: What if they don’t have the right business plan? What about filling out and filing the proper legal documents? How will they know how much capital is needed to get a brand-new venture off the ground.

Thankfully, there is a wonderful alternative to the traditional model of entrepreneurship; one in which there is a tremendous amount of support and assistance available: franchise ownership!

A Different Way to Be Your Own Boss

Franchise ownership has emerged as an ideal option for those entrepreneurs who would rather follow an established model than start from scratch. It involves following a system and the guidance of experts, but it’s one of the best ways for modern entrepreneurs to become their own bosses. The benefits of owning and operating one’s own business remain, but with the additional benefits of having access to a system of support and expertise that would not be available under the traditional entrepreneurship model.

Need a Better Way to Be Your Own Boss? Consider Franchise Ownership!Franchise Ownership in the Senior Care Sector

Franchise ownership is a great way to be your own boss, but selecting the right franchise can be a challenge. Everyone knows about fast-food franchises, but there are numerous alternatives available to suit the entrepreneurial needs of people from all walks of life and business. One of the most intriguing industries for franchise ownership is senior care.

The in home senior care industry is rising, and many of the opportunities that are available in this growing sector of the economy are in franchise ownership. Senior care franchising allows entrepreneurs to be their own bosses, but it includes the added benefit of the opportunity to serve and help others.

Consider Always Best Care

Always Best Care is a leader in the senior care industry, and we’re always looking for compassionate, driven people to join our company as franchise owners. Our proven system provides a clear roadmap, and our people are always there to help. For those looking to be their own bosses, Always Best Care is a terrific choice for the next chapter of professional life!

Are you interested in learning more about what it takes to be 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.

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Four Reasons Now Is the Right Time To Start a Senior Care Franchise

Four Reasons Now Is the Right Time To Start a Senior Care FranchiseHave you been searching for ways to make changes or improvements in your life and career? Like most people who yearn for such change, you’ve probably considered making moves, but the future consequences are too unclear to take the necessary leap of faith, whether it’s switching careers, starting a business or moving your family to a different part of the world. So you’ve remained in your comfortable existence — and there’s nothing wrong with that!

But what if you’re still motivated by a desire to do something different with your career?

Senior care franchising may be your best option. Why? Well, we think if you just look around you, you’ll see numerous reasons why in-home care franchises represent such awesome business opportunities today.

Here are four of those reasons:

Seniors Crave Independence

Successful businesses are usually built upon a foundation of an ability to offer something that’s in need. Today’s seniors have a need to be independent and autonomous. They have very little interest in nursing-home living, with many older individuals finding ways to stay at home for as long as possible.

As a senior-care franchisee, you can take advantage of this desire in your community. Seniors and their families will appreciate the solutions you have to offer, and they will be sure to tell others about the amazing solutions your business provides.

Baby Boomer Transitions

The so-called “Baby Boomer” generation is retiring and they’re going to need options for their senior years. This generation likes to do things differently, and the way they choose to live out their senior years is no exception.

There are Baby Boomers in your community right now who desire more options as they consider senior living. Will you be the one to help them with your own senior care franchise?

Four Reasons Now Is the Right Time To Start a Senior Care FranchiseThe Best of All Worlds

Being a business owner is tough, but working for a corporation can be just as difficult. What if you could have the best of both worlds without the hassles associated with them? Franchising in the senior care sector gives you the opportunity to operate independently with the full support and power of a successful business backing you. You have freedom to operate, but you also have a team of experts and a proven system behind you. What a great opportunity!

Future Competition Will Be Fierce!

One of the most compelling reasons to get into senior care franchising today is the fact that the future is going to be very competitive as more and more people realize the benefits of owning their own franchises in this sector.

By getting on board now, you can establish yourself as a proven leader while your future competitors are still deciding what to do with their careers. Are you ready to take that leap of faith?

Franchise With Always Best Care

Always Best Care is one of the true leaders in senior care franchising. Download our FREE franchising ebook today and learn more about why your next career decision should go in the direction of at home senior care!

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