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Home Helpers Franchise Costs $27K – $206K (+ 2024 Profits)

Home Helpers Home Care, a prominent franchise in the home care industry, provides comprehensive in-home care services aimed at individuals who prefer to maintain their independence in their own homes. Founded in 1997 and headquartered in Blue Ash, Ohio, Home Helpers Home Care has expanded significantly over the years. 

Home Helpers Home Care started franchising in 1997, the same year it was founded. The franchise is known for its exceptional care and support services, which include companion care, personal care, skilled care, and medical alert services.

One of the standout features of the Home Helpers Home Care franchise is its Cared-4™ program, which offers a complete care solution by bundling several services to ensure comprehensive support for clients. 

a financial plan for a franchise
a financial plan for a franchise

Initial investment

Type of ExpenditureAmount (New Build)
Initial Franchise Fee$49,000
Equipment & Furniture$500 – $2,000
Computer System$2,500 – $4,000
Travel & Living Expenses While Training$750 – $2,500
Initial Rent, Telephone, Bank & Other Deposits$0 – $2,000
Business Foundations Kit$9,750
Licensing Fee$0 – $15,000
Monthly Office Rental Payment$0 – $1,250
Insurance$3,600 – $8,000
Policies and Procedures Manual$950
Additional Funds – 3 months$33,000 – $55,000
Total$100,000 – $150,000

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.

Franchise fees & Royalties

Initial Franchise Fee

Franchisee shall pay a “Franchise Fee” of $48,900. This fee is fully earned upon receipt by the Franchisor or when the Franchisee signs the agreement.

Royalty Fee

The royalty fee for Home Helpers Home Care varies between 3% to 6% of gross revenues.

Technology Fee

Franchisee shall pay an annual “Technology Fee” of $750 for technology tools provided or developed by the Franchisor.

Transfer Fees

A “Transfer Fee” of $10,000 is payable as a condition to selling your franchise, to cover the expenses of training the franchise purchaser.

Renewal Fees

A “Renewal Fee” of the lesser of 5% of the then-current initial franchise fee or $10,000 is payable upon the renewal of your franchise agreement.

revenue

Revenue & Profits

a financial plan for a franchise
a financial plan for a franchise

Franchise pros and cons

The Pros:

  • Exclusive territory protection: The franchisor grants its franchisees the right to operate in an exclusive territory defined in its franchise agreement. It does not authorize any other franchise or operate a competing channel in the protected area.
  • Training and ongoing support: The franchisor offers its franchisees comprehensive onboarding support consisting of 16 on-the-job and 26.5 classroom hours of initial training to give them the basics and an understanding of all the concepts needed to run a successful franchise.
  • Home-based opportunity: The franchise can be operated from home. Franchisees don’t incur the hassle and costs of establishing an office space and have the freedom, good work-life balance, family time and opportunity to work on expanding to multiple units.
  • Passive investment: The franchisor allows for absentee ownership. Franchisees can leave their clinics under the care of franchise managers and run their franchises along with other investments and formal employment.
  • Third-party financing: The franchisor has relationships with third-party partners to offer its franchisees funding to cover their startup costs, franchise fees, equipment and ongoing costs.
  • Simple franchise concept: The franchise requires a minimum of one staff member to launch, giving franchisees low startup and staff costs and a chance to get started fast.
  • Marketing support: The franchisor offers its franchisees solid marketing and advertising strategies to help them create service awareness and high client retention rates. These include social media, regional advertising, email marketing and web development, among others.

The Cons:

  • Not a part-time business: The franchisor requires franchisees to have their clinics open full-time following the normal business hours schedule.
  • Competition: The franchises face competition from Right at Home and Senior Helpers Inc., to name a few.

How to open a Home Helpers franchise

1: Research the Franchise

  • Understand the Business Model: Learn about the services Home Helpers offers, such as in-home health care and companion care.
  • Evaluate Market Demand: Assess the need for home care services in your target area.
  • Review Financial Requirements: Look into the initial investment, franchise fees, and ongoing royalty fees.

2: Contact Home Helpers

  • Initial Inquiry: Reach out via their website or by phone to express interest and get more information.
  • Receive Franchise Disclosure Document (FDD): Review the FDD provided by Home Helpers for detailed information about the franchise.

3: Secure Financing

  • Estimate Total Investment: Calculate the total cost including franchise fee, startup costs, and working capital.
  • Explore Financing Options: Consider personal savings, loans, or partnerships for funding your franchise.

4: Choose a Location

  • Market Analysis: Conduct a thorough analysis of potential locations based on demographics and competition.
  • Site Approval: Get the chosen location approved by Home Helpers franchise team.

5: Training and Support

  • Attend Training: Participate in the training programs provided by Home Helpers, which may include operational, administrative, and sales training.
  • Leverage Support: Utilize ongoing support offered in areas like marketing, operations, and technology.

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.

All content in this article is information of a general nature and does not address the detailed circumstances of any particular individual or entity. Nothing in the article constitutes professional and/or financial and/or legal advice, nor does any information in the article constitute a comprehensive or complete statement of the matters discussed or the law relating thereto. You alone assume the sole responsibility of evaluating the merits and risks associated with the use of any information or other content in this article before making any decisions based on such information or other content.

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