Owning an Interim HealthCare franchise is a great way to break into the booming senior home care industry. No healthcare experience is necessary to run our home care franchise, and we provide you with training and support along the way. The best way to get all the details on the investment is to request a copy of our franchise disclosure document (FDD). If you’re new to franchising, you should know that the FDD is the most important document you should review before making any decisions. Here’s a quick look at a few key parts of the FDD.
Total Initial Investment
This section typically includes a table that breaks down all of the expenses you should anticipate as you open your new franchise. Because the exact amounts will vary, franchisors will provide you with an approximate range for each item. In addition to providing investment information in the FDD, Interim HealthCare Franchise has posted an overview on our website. Request a copy of our FDD after you’ve reviewed it – you’ll find many more details on each expense there.
Training and Support for Your Home Care Franchise
Every franchisor will promise some measure of training and support, but the FDD is where you can really see for yourself what they have to offer. There, you’ll find sections that cover things like exactly how long your initial training will last, what expenses you should expect to incur to take part, what information will be covered, and so forth. You’ll also find information on any support resources (like proprietary software or business coaching) you can expect to receive. A review of our FDD will reveal that Interim HealthCare offers comprehensive support, from site selection assistance to a proprietary intranet platform. Having been in business for decades, we’ve built up a wide range of resources for our franchisees.
Royalties and Other Ongoing Fees
In addition to the initial franchise fee, you can expect to pay royalties and other ongoing fees to your franchisor. These are usually a small percentage of your profits. Franchisors often assess fees to help cover the costs of your ongoing support and assist with marketing efforts, so they’re nothing unusual. However, these fees will vary, so it’s important you understand exactly what they’ll amount to before you invest.
It’s not required, but many franchisors include an Item 19 in the FDD that covers the performance of existing franchises. It’s impossible to predict how any new business will perform, but this section can help you form a better idea of what your return on investment could look like. However, it can be difficult for some franchisors to get detailed and up-to-date information on the performance of each franchise, so this section isn’t always included, but you’ll find it in ours!
Want to learn more about investing in a home care franchise? Contact us today and request a copy of our FDD!