Griswold Home Care Franchise Costs $96K–$174K (+ 2024 Profits)

Griswold Home Care, a pioneer in the non-medical home care industry, was founded by Jean Griswold in 1982. The company is headquartered in Blue Bell, Pennsylvania, and began franchising in 1984, just two years after its founding. 

Griswold Home Care has established itself as a leading provider in the home care sector, offering a variety of services designed to help the elderly, disabled adults, and those with illnesses to live independently in their homes. 

Services include personal care, homemaking, companionship, and respite care, tailored to meet the diverse needs of its clients. What sets Griswold Home Care apart in the competitive home care market is its long-standing reputation and commitment to providing compassionate and affordable care. 

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 is $49,500.

Royalty Fee

During the first and second calendar years after the opening date, franchisees are required to pay a royalty fee equal to 4% of Gross Receipts.

Marketing/Advertising Fee

The marketing fee is the greater of $75 or 0.5% of Gross Receipts per week, contributing to a general marketing fund.

Technology Fee

The technology fee is $8 per client per month.

Transfer Fees

The transfer fee is $15,000, plus any brokerage fees applicable, or $5,000 for transfers to an existing franchisee.

Franchise pros and cons

The Pros

• Exclusive territories: The development team chooses ideal locations for franchise owners, free from competition against other Griswold Home Care franchises. 
• Marketing experts: In-house marketing experts provide comprehensive regional campaigns, among other valuable resources, to help franchisees stand out. 
• Multiple income streams: Franchisees benefit from many services, including homemaking, hospice, support, personal, companion and respite care. 
• Third-party financing: Griswold Home Care partners with trusted third-party financial sources to help franchisees secure business funding.  
• A recession-proof model: Increasing demand for home care services translates to a constant income stream. 
• Launch support process: A dedicated launch specialist guides franchisees from agreement signing to the grand opening. 
• Ongoing support: Every franchisee is assigned a Director of Regional Support to guide them through the technical aspects of business operation, including marketing, operations, compliance, and sales. 
• Home care academy: The pre-opening training, including two weeks of interactive learning, provides franchisees with everything they need to run a successful business. 
• Integrated tools: Fully integrated tools and other solutions to support business growth. 
• No medical background required: Franchisees don’t need medical experience to join Griswold Home Care. 

The Cons

• No absentee ownership: Franchisees must participate in day-to-day operations. 
• Not a home-based opportunity/mobile unit: Franchises must operate from physical locations. 
• Not a part-time investment: The franchisor expects full-time, long-term commitment from brand owners.

How to open a Griswold franchise

Opening a Griswold Homecare 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 Griswold Homecare franchise.

1. Initial Inquiry

• Learn About the Franchise: Research Griswold Home Care, its history, services, and reputation in the home care industry.
• Contact Griswold: Reach out via their official website or call their franchise team to express interest and request more detailed information.

2. Review Franchise Disclosure Document (FDD)

• Receive and Review the FDD: Griswold Home Care will provide you with a Franchise Disclosure Document that outlines detailed information about the franchise opportunity, including financial requirements, fees, and legal obligations.
• Consult with professionals: It’s advisable to review the FDD with a lawyer and a financial advisor to ensure you understand all aspects of the franchise agreement.

3. Financial Qualification and Approval

• Financial Assessment: Evaluate your financial resources to ensure you meet the required investment levels and operational costs.
• Submit Application: Complete a formal application process where you will provide details about your financial status and business background.

4. Interviews and Approval Process

• Interviews: Engage in discussions or interviews with Griswold Home Care’s franchise team to discuss your suitability and readiness to operate a franchise.
• Approval: Upon successful completion of interviews and financial checks, receive approval to proceed.

5. Training and Preparation

• Attend Training: Participate in comprehensive training programs provided by Griswold, which include operational procedures, business management, caregiving techniques, and customer service standards.
• Secure a Location: Choose a location for your franchise that meets Griswold’s criteria for demographic and market potential.

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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