Very much like its name, the Home Instead franchise seeks to help elderly and frail people literally stay “home instead” of being taken somewhere new and unfamiliar. This inspiring model of doing business has led to the creation of 200+ franchise offices in the UK and 1100+ offices in 14 markets , earning Home Instead a reputation for high quality provision and a drive to do more. If you’re a compassionate individual who’s looking for senior home care franchise opportunities, then a Home Instead franchise could just be your best bet. Why? Let’s take a closer look below.
The investment
Wondering what you’ll pay for the opportunity to run your own Home Instead franchise? Here’s a brief breakdown of the investment:
- Franchise licence: £41,000-plus VAT
- Working capital: £55,000 to £75,000
- Royalty fee: 6.5% of monthly revenues plus VAT
Overall, it’s anticipated that your total investment would be around £90,000 to £110,000. Not bad if you consider all the perks you get with it!
What you get
So, once you make the investment, what do you get with a Home Instead Senior Care franchise? You’ll be able to enjoy:
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- An exclusive franchise territory: this is your territory and your territory only.
- Extensive training: you’ll be able to benefit from significant training to be able to provide the high quality service standards that Home Instead is known for.
- A Business Performance support team: no one thinks of going into business all alone yet that’s the reality for many. Not so with a Home Instead franchise where you’ll get a support team to help you with your business performance, ensuring you’re never alone.
- Cutting-edge marketing materials: marketing and advertising are crucial for any business but here you don’t have to worry as much of the materials you’ll need will already have been created for you, ready for you to make use of them.
- A business start-up kit: a business start-up kit is a great idea, especially if you’ve never run a business before. It will make running your own business that much simpler as you’ll be guided at every step of the way.
- Research based programs and systems: why spend thousands of pounds doing research when your franchisor can help you with this?
- A customisable local website: having your own local website with hosting and a domain name is a crucial step of having your business recognised, found when customers search for it as well as showing the credibility of your business.
- And more!
Wondering what else? Well, for starters, the freedom to do what you really love and get financially rewarded for it with the opportunity to grow to a profitable venture in a few short years. The initial commitment is for a period of five years and you’ll either be able to purchase a license for a specific territory, or you’ll be able to purchase a franchise that’s for resale, although these opportunities appear to be limited.
A whole lot of other perks, too
As a Home Instead Senior Care franchise owner, you’ll not only enjoy the benefits and satisfaction of knowing that you’re caring for other people’s loved ones to the best of your ability, you can also expect financial rewards, too. So, how much can you expect to earn and what about the financial performance? What can you expect from a Home Instead Senior Care franchise in terms of profit? According to Home Instead, you’ll be able to reach a return on your investment in just one year with projected £1 million turnover by years three and four. This often increases to a multi-million-pound franchise. Sounds appealing, doesn’t it?
Depending on the way you look at it, the investment can either seem sizeable or affordable, and the best part is that you can get around 70% of your financing from high street banks approved due to the relationship that Home Instead has developed with them. This already puts you ahead of the competition as you won’t be wondering where to source your investment.
Wrapping up
Starting a home care business in the UK is a really lucrative business. In short, demand is high and the industry is worth billions, growing annually and this is expected to rise over the next few decades as the ageing population is likely to reach around eight million, or putting it in perspective, the size of London.
If you’re ready to take on the world of senior care with your own Home Instead Senior Care franchise, all you need to do is fill out a short form on the company’s website and someone will get in touch with you offering to answer all your questions.
