Assisting Hands Franchise Costs $88K – $160K (+ 2024 Profits)

Assisting Hands Home Care is a distinguished franchise in the in-home care industry, established to meet the growing demand for personal and compassionate care for seniors and individuals needing assistance in their homes. The franchise was founded in 2006 and is headquartered in Nampa, Idaho. 

It has since expanded, offering a scalable business model that includes not only non-medical home care but also skilled nursing and temporary staffing options. This franchise is notable for its comprehensive approach to home care, which not only focuses on providing excellent and dependable care but also emphasizes strong customer service and community impact.

Assisting Hands Home Care differentiates itself in the competitive home care market by offering an expanded range of services and focusing on creating a family-like atmosphere among its franchisees, which they refer to as their “Family of Franchise Owners” (FOFO).

Type of Expenditure	Amount
Initial Franchise Fee	$55,000
Security Deposits	$500 – $4,000
Insurance	$3,500 – $6,000
3-Months’ Lease Payments	$1,500 – $6,000
Leasehold Improvements	$0 – $7,000
Signage	$700 – $3,000
Furnishings	$1,500 – $6,000
Computer System and Scheduling Hardware and Software	$2,000 – $4,500
Business Licenses and Permits	$150 – $500
Licensing and Credentialing	$700 – $15,000
Initial Training Expenses	$2,000 – $4,000
Open House Expenditure	$1,000 – $6,000
Telecommunications Services and Advertising	$1,500 – $3,000
Professional Fees	$2,000 – $5,000
Convention Fee	$200
Additional Funds– 3 months	$15,700 – $34,950
TOTAL ESTIMATED INITIAL INVESTMENT	$88,000 – $160,000

Note: The table above provides a snapshot of the main costs associated with starting the most common franchise format (as disclosed in the Item 7 of the Franchise Disclosure Document). For a complete overview of all the expenses involved with the various formats offered by the franchisor, please consult the Franchise Disclosure Document.

Initial Franchise Fee

The Initial Franchise Fee for one Assisting Hands Business is $55,000. This fee is payable upon execution of the Franchise Agreement and is non-refundable.

Royalty Fee

Royalties are paid weekly and are the greater of:

• 5% of Gross Revenue if below $48,000
• 4.5% of Gross Revenue if between $48,000 and $95,999
• 4% of Gross Revenue if above $96,000

Marketing/Advertising Fee

franchisees are expected to spend an average of $750 per month per office on local advertising during the first year, with an increase to 2% of total Gross Revenue thereafter.

Technology Fee

A Technology Fee may be charged monthly for technology services provided for the operation of the Franchised Business, not to exceed $1,000 per month.

Transfer Fees

A Transfer Fee equal to 50% of the then-current Initial Franchise Fee is payable if the franchise is transferred. A non-refundable deposit of $1,000 is required at the time of transfer application, with the balance due upon approved transfer.

Renewal Fees

The Renewal Fee is 10% of the then-current Initial Franchise Fee payable at the time of signing a new franchise agreement.

Management Fees

If the franchisor steps in to manage the franchise, a management fee of $250 per day, up to 90 consecutive days, is charged, along with direct out-of-pocket costs and reasonable attorney’s fees.

Franchise pros and cons

The Pros:

• Multiple revenue streams: The expanded business model attracts income from elderly care, nursing therapy, Alzheimer’s and dementia care, among other services.
• Proprietary tools: The franchisor provides supportive tools and software for billing, scheduling and handling business operations.
• Premier support: New franchisees undergo intensive, pre-opening training on employee recruitment, scheduling and billing, in addition to ongoing support.
• No medical background: No medical background is required to own an Assisting Hands Home Care franchise.
• Financial support: The franchisor has relations with trusted third-party financial sources to help brand owners cover the startup costs, franchise fees, inventory and equipment.
• Exclusive territories: Territories are determined by demographics to protect franchisees from competing against other Assisting Hands Home Care franchises.

The Cons:

• No absentee ownership: Franchisees must participate in day-to-day operations.
• Not a part-time investment opportunity: The franchisor doesn’t allow part-time business operations.
• Not a home based or mobile unit opportunity: Franchises must operate from the designated locations.

How to open A Assisting Hands franchise

Opening a Assisting Hands Home Care franchise involves several steps, designed to ensure you are a good fit for the franchise. Here are the main steps to follow to open a Assisting Hands Home Care franchise.

1. Initial Inquiry

• Research the Franchise: Understand the services provided by Assisting Hands Home Care, the market demand, and read through any available testimonials and reviews from existing franchisees.
• Contact Assisting Hands: Reach out to the franchise team through their website or by phone to express interest and request more information about the franchise opportunity.

2. Review Franchise Disclosure Document (FDD)

• Receive and Review the FDD: Once your initial inquiry is acknowledged, you will receive the Franchise Disclosure Document which contains detailed information about the franchise costs, fees, legal obligations, and support provided.
• Consult with Professionals: It is advisable to discuss the FDD with a lawyer and a financial advisor to ensure you understand all aspects of the franchise agreement.

3. Financial Assessment and Application

• Financial Planning: Review your financial status to ensure you meet the franchise’s requirements for liquid capital and overall net worth.
• Submit an Application: Complete the franchise application process by providing your financial details, background, and any relevant business experience.

4. Interview and Approval

• Franchise Interview: You may undergo an interview process with the franchise team to discuss your application, motivations, and qualifications for running a franchise.
• Approval: If your application and interview are successful, you will receive approval to proceed.

5. Training and Support

• Initial Training: Attend comprehensive training provided by Assisting Hands, which covers operational procedures, care standards, business management, and customer service.
• Ongoing Support: Benefit from continued support including marketing, operational advice, and further training sessions to ensure smooth running and growth of your business.

Disclaimer

Disclaimer: This content has been made for informational and educational purposes only. We do not make any representation or warranties with respect to the accuracy, applicability, fitness, or completeness of the information presented in the article. You should not construe any such information or other material as legal, tax, investment, financial, or other professional advice. Nothing contained in this article constitutes a solicitation, recommendation, endorsement, advertisement, or offer to buy or sell any franchises, securities, or other financial instruments in this or in any other jurisdiction in which such solicitation or offer would be unlawful under the franchise and/or securities laws of such jurisdiction.

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