One of the perks of partnering with Interim HealthCare is that we’ve developed a comprehensive breakdown of our home care franchise costs that includes just about everything you’ll need to start your own business. Why is this such a great resource? Because it greatly reduces the likelihood that you’ll encounter unexpected costs as you build your new business! Read on to learn what’s included in the investment.
The Estimated Total Initial Home Care Franchise Cost
The amount that you’ll ultimately spend on your new franchise will vary depending on factors like where your business is located, how many employees you bring on, and so forth. With that in mind, we estimate that your total home care franchise costs will come to between $125,000 and $198,500. This figure includes all of the expenses listed below, along with many others.
The Initial Franchise Fee
Like all franchisors, Interim HealthCare assesses an initial franchise fee to offset some of the costs associated with your onboarding. This $50K fee is due at the time you sign your franchise agreement, and grants you access to our brand name, along with a host of valuable resources. We think you’ll find that, considering the comprehensive support you’ll receive, our franchise fee is especially modest compared to our competitors’.
While this is a one-time fee, franchisees will be responsible for a number of small recurring fees as they grow their businesses – ask us about these when you get in touch!
Working capital is an important part of our home care franchise costs. We’ve built from $35,500 to $108,500 into our investment to help cover operating expenses during the early months of your business, while you’re still establishing a customer base. Having enough working capital on hand can mean the difference between success and failure for new businesses, so we encourage our franchisees to explore options like working capital loans to ensure they’ll be able to cover costs.
Other Startup Expenses
There are many other expenses accounted for in our home care franchise costs – request a copy of our franchise disclosure document to review them for yourself! Real estate costs, computer systems, and uniforms are just a few more of the expenses we’ve added to our breakdown.
What are the Requirements to Invest?
We want our franchisees to have a strong shot at success, so we’ve established some financial criteria. We’re looking for franchisees with a net worth of at least $300K and liquid capital of between $100,000 and $250,000. We’ve found that franchisees with this level of financial security are best prepared to nurture their new business without negatively impacting their quality of life. Of course, we welcome franchisees to take advantage of SBA loans and other opportunities to help them make the investment.
The best way to learn about our home care franchise costs is to review our franchise disclosure document. Contact us today to request a copy!