senior services franchise | Senior Home Care Franchise

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.

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.

Franchise Ownership — Amazing Opportunities for Military Vets

Veterans of the United States Armed Forces are some of the most skilled, dedicated, selfless and hardworking people in the country, but they often experience difficulty transitioning back into civilian life once their military service has come to an end. For many veterans, the seeming lack of opportunity can be incredibly frustrating, especially when they have so much to offer. Certainly, there are jobs out there to be had, but what many veterans desire is the chance to operate businesses that allow them to continue to provide service. For many returning veterans, owning a senior care franchise represents the ideal opportunity.

Veterans Have All the Right Traits for Franchise Ownership

As it turns out, the skills required to own and operate a senior care franchise effectively have a lot in common with those that are developed through military service. Let’s take a look at a few of them:

*Focus
Franchise ownership requires people to wear a number of hats, but that’s only done well if a person can prioritize and focus their concentration on what needs to be done in the here and now. Through their training and experience, military veterans are some of the most focused individuals on the planet, making them excellent candidates for senior care franchise ownership!

*Leadership
Military veterans understand what makes teams work well, and they know what it takes to provide excellent leadership. Mostly, it’s all about understanding people and motivating them, which is something with which most military veterans are very familiar.

*Strategy
Seeing the entire “chess board” and being able to plan several moves ahead (while accounting for possible surprises along the way) are traits that are highly developed among military veterans. Strategic traits are crucial when it comes to successful franchise ownership; marketing, accounting for growth, dealing with competition and a number of other aspects require an ability to strategize effectively.

*Following Orders
A successful military operation requires that people understand the chain of command and can follow orders. In franchise ownership, it’s important to be able to lead, but it’s equally as critical to be able to take direction and follow the system. Military veterans are ideally suited for this type of professional scenario, given their backgrounds.

Continuing Service

In senior care, franchise owners work toward various professional goals, but they also experience something rare in the business world — the chance to give back to their communities.

Seniors everywhere are living better lives thanks to the “aging in place” boom, and senior care franchise owners are making it possible. Franchise owners provide options that help families care for aging loved ones, and they act as vital resources in their communities. Military veterans who wish to continue their service can find a rewarding outlet through senior care franchising.

Why Always Best Care?

Always Best Care has been consistently ranked as one of the top franchises for veterans. In fact, Military Times has called Always Best Care one of its “Best for Vets” franchises on multiple occasions. For those veterans interested in franchise ownership, Always Best Care should be at the top of the list!

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.

Five Essential Tips on Hiring the Best Caregivers for Your Franchise

One of the first challenges you’ll face as a senior-care franchisee is the process of hiring help. During the initial stages of your business, you’ll probably find yourself wearing numerous hats – sometimes all of the hats – as your franchise gets off the ground. Eventually, though, there will come a time when it simply makes sense to bring new people on board. The subject of hiring has been addressed previously on the blog (link to: https://home-care-franchise.alwaysbestcare.com/hiring-staff-for-your-home-care-business/), but it’s important to focus on how you can hire the best caregivers, specifically.

Following are five essential tips on hiring the most qualified and effective caregivers for your senior-care franchise.

Always Have a Plan
As a business person, you understand that positive results usually only happen when you have a plan. This goes for hiring caregivers for your franchise, as well. Before you start recruiting, make sure that your business plan accounts for a method of bringing on new staff members. It’s also important to research compensation and benefits packages that will help you attract the best candidates. You might also consider incentive programs that will make it easier for you to attract – and retain – caregivers that truly make a difference.
Understand Seniors’ Needs
Do you know what your clients really want and need when it comes to their care? What are they asking for? What kinds of personalities do they respond to? Do you understand the specific challenges associated with your unique group of clients? By analyzing and understanding the distinctive needs of your seniors, you can hire caregivers that align perfectly with the requirements of your client base.
Cast a Wide Net
You can certainly save time and money by limiting your advertising and recruiting efforts, but you’re only sabotaging your own business in the long run. Research the best places to advertise for new hires, and take advantage of as many of them as you can. Remember that it’s important to use both traditional media and methods (newspapers, employment and trade publications) and more recent innovations (social media, online forums and job boards, etc.) to make the largest pool of qualified candidates aware of your needs.
Proper Interview Preparation
You’ve probably had to prepare for several job interviews over the years as a candidate, but now you find yourself on the other side of the recruitment desk. On this side, it’s just as – if not more – important to prepare properly for interviews. Have questions ready and be poised to answer candidates’ questions about your business accurately and expertly. But remember that it’s important to not keep your nose buried in interview notes while you’re speaking with candidates; this can keep you from noticing when you’ve built an instant rapport with the ideal candidate!
Trust Your Instincts and Training
You entered the senior-care franchise industry to make a difference in your life and the lives of others. Your instincts have led you to this point. Your training and diligence have helped you lift your business off the ground. When it’s time to hire caregivers, remember the things that have helped you become successful thus far. If you’re prepared well for the process of hiring caregivers, you can rest assured that the instincts and training that have gotten you to this point will also help you find the ideal candidates for your growing business.

Help is on the Way!

Congratulations! You’ve reached the point at which hiring caregivers is the logical next step in the growth of your senior-care business. Getting to this level has required you to build your business intelligently and with a great deal of hard work. Thankfully, hiring caregivers will mean that you won’t have to work quite so hard in the future, which will allow you to concentrate on the next steps for the continuation of your franchise’s growth.

Do you have additional questions about hiring caregivers for your senior-care franchise? Give us a call today, or download our FREE franchising eBook today to learn more!

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

Five Ways to Retain Your Best Home Care Franchise Employees

Seasoned business owners know that few things are more costly than employee turnover. From picking up where an employee left off, to recruitment, training and new hires, the costs add up quickly. The expense of losing and replacing a single employee can easily add up to a whopping $50,000 or more.

Holding on to your best employees such as the best caregivers of your home care franchise for as long as possible requires that you create a rewarding environment where employees feel their work and input are valued. It is critical to develop trust with your employees and understand their career goals—open communication is key in this regard.

Here are some ways to build trust and keep your best and brightest staff on board for years to come:

Offer Praise — Feeling appreciated is a fundamental human need. All of us need to feel that we are making a contribution to the world and are valued. Acknowledging and rewarding an employee for their contributions benefits not only the employee, but the company. Employees who feel valued are more productive and report higher rates of satisfaction with their jobs, which frequently translates to better employee morale, increased customer satisfaction, reduced absenteeism and higher employee retention.
Foster Autonomy –– Whenever possible, and especially in jobs that require high levels of creativity, give your employees a say in their work and involve them in decision-making. Few people appreciate being micro-managed. Try coaching, rather than managing employees, and offer feedback regularly.
Recognize Individual Strengths — Recognizing employees’ individual strengths, talents and expertise, and capitalizing on those things will help your business succeed and will improve employee satisfaction.
Offer Tangible Rewards — Tangible rewards do not necessarily need to be monetary. A dinner with the company’s president, closing the office early the day before a holiday, or granting an employee a personal day after finishing a grueling project can all go a long way.
Make Ongoing Training Available –– Most employees are eager to learn and grow. Cross-training, offsite workshops and other learning opportunities can help keep your employees sharp, and it lets them know they are valued members of the company.

Investing in your employees and instituting policies and programs that help them feel appreciated will likely pay off in the long run, in terms of increased productivity, high morale and low turnover—all boons to your bottom line.

Always Best Care is one of the leading senior care companies in the nation, with nearly 190 franchised territories nationwide. Learn about the growing senior care industry and about franchising with Always Best Care on our website, https://home-care-franchise.alwaysbestcare.com/

Learn more about senior care franchising and download our FREE eBook!

Please refer to our most recent Franchise Disclosure Document for important details https://paperswrite.org/

Franchise with Always Best Care

Always Best Care offers franchise opportunities throughout the United States, plus Canada, Germany, Australia and the United Kingdom. Always Best Care has been synonymous with the highest standards of service since 1996, when founder Mike Newman realized the need for exceptional, trusted professional care for senior citizens. Now you can deliver the same high quality of services to people in your community by opening an Always Best Care franchise.

The number of senior citizens is growing at a robust pace. Each day, 10,000 Americans celebrate their 65th birthday. This means an Always Best Care franchisee can expect an ever-growing marketplace as more men and women reach retirement age.
A handful of these individuals need medical care; many more could benefit from non-medical home care, such as help with grooming or moving around the house. The non-medical home sector is enjoying an upward trend as these seniors and their families realize the benefits of non-medical home care.

As an Always Best Care franchise owner, you will benefit from three different revenue streams: Assisted living finder services, non-medical in-home care, and skilled home health care. This three-pronged approach to revenue allows you to increase your bottom-line in more than one way.

Learn more about senior care franchising and download a copy of our FREE senior care franchising eBook today!

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

Be a Part of One of the Best Franchises for Minorities

Minorities in the US play a vital role in business and are an engine of employment in emerging communities and in the senior care industry. According to the US Department of Commerce, in 2002 there were 4 million minority-owned businesses, which employed 4.7 million people and grossed $661 billion. If these businesses had matched the population of minorities in the country, however, we would have expected numbers in the range of 6.5 million businesses employing 16.1 million workers and grossing over $2.5 trillion, according to a Department of Commerce report¹. This disparity illustrates that minorities still face obstacles to becoming business owners in the US.

The Biggest Obstacles Facing Prospective Business Owners

One of the greatest obstacles for minorities continues to be lack of access to capital. Minorities are more likely to be denied credit and pay higher interest rates on loans, according to the report. Individuals looking to own and operate a franchise need initial capital to start the business, as well as working capital and business loans to grow. Because of our current financial environment an even greater burden is placed on minority entrepreneurs struggling to keep their businesses alive.

Work with One of the Best Franchises for Minorities

The Department of Commerce report illustrates the obstacles minorities face as entrepreneurs and business owners and the need to ensure that business opportunities are equally accessible to everyone. Always Best Care is proud to have been named one of the top 50 franchises for minorities by the National Minority Franchising Initiative. Always Best Care was also named one of the top low-cost franchises in the country.

Starting a non-medical home care franchise is an excellent opportunity for people from all walks of life and an opportunity to help meet the growing need for quality senior care in the US. Explore our website to learn more about franchising with Always Best Care.
Learn more about senior care franchising by downloading our FREE eBook.

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

Tips for Greening Your Senior Care Business

Being “green” isn’t just a trend anymore—companies are recognizing the importance of long-term sustainability and that going green can help improve their bottom line. Below are some tips for helping the planet and saving some money for your company, whether you operate home care business or other business.

Use CFL or LED Lights –– Compact fluorescent lights and LED lights last significantly longer than traditional incandescent light bulbs and use less energy. Despite the higher initial cost of CFL and LED lights, switching to these energy-efficient bulbs could save you hundreds each year.
Reduce Paper Consumption and Switch to Post-Consumer Paper Products –– Paperless offices are the new normal. With advancing technology people can compose, read and transmit documents digitally without ever having to print a copy. Resist the urge to print all of your documents, opting instead to use digital copies. When you absolutely must print documents, use post-consumer recycled paper. Stock your break room and bathrooms with post-consumer recycled paper.
Replace Old Appliances with Energy Star Models –– Old appliances can be real energy guzzlers. Look for new appliances with the Energy Star label, which helps you assess the energy requirements (and the cost to run) the appliances. A larger up-front cost is worth the long-term savings.
Power Your Office with Alternative Energy –– Many utility providers offer consumers energy from “green” sources like wind and solar, geothermal and hydropower, depending on where you live.
Make Company Vehicles Hybrids or Alternative Fuel Vehicles –– While hybrids and alternative energy vehicles often have higher up-front costs, drivers typically save money on gas in the long run. The higher sticker price of a hybrid vehicle should be offset by the savings in fuel costs, for immediate savings.

These are just some of the many ways companies can be part of a more sustainable future and save money in the process.

Learn more about senior care franchising and Learn more about senior care franchising by downloading our FREE eBook.