The nature of our industry is so sensitive that the start-up stages of starting your own hospice home are more tedious than any other kind of business. Starting a hospice home takes diligence and maintenance to keep the business aligned with the standards of your state. Some of these regulations may make creating a return on your investment much more complicated. When investing in a hospice franchise, however, the stress of attending to these business needs is alleviated. Interim HealthCare has been in this industry since 1966, so we’d like to take you through the advantages of investing in a hospice franchise and how it can make a difference in the long run.
Information and Help From Interim HealthCare
As stated before, this industry is sensitive and includes plenty of crucial steps and information. When starting a hospice house, you will have to take in that information on your own while maintaining your business. Interim HealthCare has identified what information can benefit our franchisees so they can focus on their long-term business success. We have created a dedicated page for our resources and are continuously updating it monthly. In addition, you will be given the same information in our training period that has led our current franchisees to an average of $4.1 million in annual revenue.
Licensing For Staff
Specific state regulations mandate hospice licensure, which takes plenty of time and money to fulfill. In opening a hospice home, on your own, you will be responsible for keeping this information up to date annually for your staff and establishment. Failing to follow these regulations could lead to fines and even a potential shut-down of your business. Interim HealthCare knows that these regulations were instituted for a reason, and we help our franchisees understand that and keep on top of it. Our start-up period will help you follow-through with those state regulated documents, so the legal aspects of your hospice franchise are taken care of.
Lower Price Point For Start-up
The start-up period for a hospice house a crucial stage to the timeline of your business– however, it can also be the most expensive. A start-up cost for starting our hospice house includes an average of anywhere between $389,250 to $477,000. Financial uncertainty when starting on your own causes many hospice home entrepreneurs to be discouraged in the early stages of their business. With a hospice franchise, we establish a precise start-up rate so our investors have no questions regarding their financials. Your initial investment will include a start-up fee of $60,000 along with a franchise fee. We also recommend having some working capital, so you are not unprepared with costs later down the road.
A lot of potential franchisees are curious about what a franchise fee entails. What many entrepreneurs don’t realize is that this crucial part of your investment essentially buys you our recognized and respected brand name — the most common hurdle when opening any business on your own. Interim HealthCare has been a recognizable name in senior care since 1966. That’s over 50 years of establishing a hospice franchise brand name that you can now benefit from. You will be able to use our name and follow the proven model of a successful hospice franchise.
Starting a hospice franchise seems to be a no-brainer right? If you’d like more information, feel free to fill out a quick form and get your questions answered today.