This article was updated with the 2023 Franchise Disclosure Document
With 140+ franchises in the US in 2023, CarePatrol is one of the leading senior home care franchises. It’s also, like most franchises in the industry, an affordable one: it (only) costs $117,000 to start a CarePatrol franchise.
But what about the profits? With an average yearly revenue of $318,000, is this really a good investment?
In this article we’re looking at CarePatrol and its latest Franchise Disclosure Document to find out how much it (really) costs, and how profitable it really is.
Key stats
| Franchise fee | $38,500 |
| Royalty fee | 9.25% |
| Marketing fee | 3.00% |
| Investment (mid-point) | $138,000 |
| Average sales | $318,000 |
| Sales to investment ratio | - |
| Payback period | [franchise_value_investment_payback] |
| Minimum net worth | $250,000 |
| Minimum liquid capital | $50,000 |
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 | CarePatrol |
| FRANCHISE FEE | $38,500 |
| ROYALTY FEE | 9.25% |
| INITIAL INVESTMENT | $51,000 – $225,000 |
| AVERAGE REVENUE | $318,000 |
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About CarePatrol
CarePatrol is a senior placement agency that helps families and seniors choose the most suitable assisted or independent living homes.
The company’s senior care advisor services include memory care, independent living, nursing services, in-home care and assisted living.
CarePatrol’s story goes back to 1993, when Chuck Bongiovanni witnessed the trauma of a family looking for a suitable placement facility for their kin.
Today, the company has become the leading senior assisted living franchise, helping American families make better decisions for their aging loved ones.
The Arizona-based brand started franchising in 2009 and now operates in 141 locations across the US.
CarePatrol franchise pros & cons
The Pros
- Training and support: intensive training sessions, including an eLearning program, in-person training and ongoing support, make franchise owners the subject matter experts in their fields, with all the right tools to serve their communities.
- Proprietary system: the franchisor’s proprietary system, including state-of-the-art technology and software, simplifies business operations by determining the most suitable care options for every visiting client.
- Unique marketing programs: the franchisor provides a branding team, presentations and an SEO-optimized website to help franchise owners attract potential clients.
- No mandatory experience: starting and running a CarePatrol franchise doesn’t require medical experience.
- Financial support: franchisees get financial support from third-party funding sources to cover the franchise fee, startup costs, inventory and equipment.
- Exclusive territories: exclusive territory rights protect franchisees from competition against other CarePatrol franchises.
- Home-based opportunity: franchises can operate from home without a retail facility, warehouse or office space.
- Few employees: only 1-2 employees are required to run a CarePatrol franchise.
The Cons
- No absentee ownership: franchisees must participate in everyday operations.
- Not a part-time investment opportunity: CarePatrol franchise isn’t a part-time investment opportunity.
CarePatrol franchise costs
You would have to invest on average $81,000 to open a single-unit CarePatrol franchised business, and $153,000 to open a multiple-unit CarePatrol franchised business.
The investment covers all the start-up costs you may need to open a CarePatrol franchised business. You must pay the franchisor an initial franchise fee of $20,000 – $57,000.
In addition to this franchise fee, the investment also covers:
- Formulation costs: signs, certified senior advisor certification, professional fees, business licences, etc.
- Equipment: office equipment, computer systems, etc.
- Operating costs: training fee, travel expenses for training, real estate and related expenses, vehicle deposits and lease payments, insurance, additional funds for 3 months, etc.
Startup costs (single-unit)
| Type of Expenditure | Amount |
|---|---|
| Initial franchise fee | $20,000 – $57,000 |
| Formulation costs | $3,220 – $5,070 |
| Equipment | $3,600 – $6,000 |
| Operating costs | $24,300 – $42,900 |
| Total | $51,120 – $110,970 |
Startup costs (multi-unit)
| Type of Expenditure | Amount |
|---|---|
| Initial franchise fee | $40,000 – $147,000 |
| Formulation costs | $3,220 – $5,070 |
| Equipment | $4,500 – $6,850 |
| Operating costs | $32,800 – $65,900 |
| Total | $80,520 – $224,820 |
CarePatrol franchise fees
The initial franchise fee for a CarePatrol franchise is $38,500
In addition to the initial franchise fee, you must pay to the franchisor a royalty fee of 9.25% of revenues, as well as a variable marketing fee of 3.00% of revenues.
CarePatrol franchise revenue
On average, a CarePatrol franchise makes $318,000 in sales per year.
This number is the average sales per franchise territory for 127 of the 160 franchised territories that operated in all of 2022. This is an increase vs. 2021 (~28%, $248,000).
Is CarePatrol a good franchise investment?
We estimate that a CarePatrol franchised business has a 5 years investment payback. In other words, you would repay the initial investment within 5 years on average by using the profits generated by the business.
This is a great payback in line with most senior home care franchises.
The reason for such a great payback is the low upfront investment cost ($117,000) relative to the profits of the business. Indeed senior home care businesses require very little upfront costs to start.
Note we assumed a revenue ramp-up as you wouldn’t reach the average revenue per franchise of $318,000 on day one.
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Compare 1,000+ franchises and download unlimited FDDs
| CarePatrol |
| FRANCHISE FEE | $38,500 |
| ROYALTY FEE | 9.25% |
| INITIAL INVESTMENT | $51,000 – $225,000 |
| AVERAGE REVENUE | $318,000 |
Disclaimer
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