HIGH-LEVEL INVESTING
HOME INSTEAD SENIOR CARE
Home Instead Senior Care specialises in quality homecare and companionship for older people; a relationship-led approach to care that allows older people to continue living in the comfort and familiarity of their own home for as long as possible.
Home Instead Senior Care has been operating in the UK for the last 12 years and has recruited over 190 franchisees to date. The business model is operated globally in 14 countries and 1,200 franchise offices, generating total revenues of over $1.2billion (£899million). In 2016, Home Instead was awarded two sets of royal recognition. The first was the Queen’s Award for Enterprise, a pinnacle of UK business achievement, in recognition of the innovation the model has brought to the care sector. The second honour was the Princess Royal Training Award, which marks out organisations with an exemplary approach to training and skills development programmes.
Top tier support
Who the brand looks for Home Instead’s mission is to become the UK’s most admired care company through changing the face of ageing. It recognises that it can only do this by having committed, passionate and caring entrepreneurs driving its franchise offices forward to change the way seniors are treated and regarded in society. What Home Instead is seeking when
recruiting a new franchisee is someone with business acumen, a good heart, and great management and people skills, backed by the confidence to get out into the community and network. As a franchisee, your core role is to develop, drive and steer your business, focus on its financial performance and manage your team. Many of the company’s franchisees say they chose Home Instead because they wanted to run a successful and profitable business and make a difference to society at the same time by providing dignified care and companionship for older people in their locality. You don’t need a care background to franchise with Home Instead. As a management franchise opportunity, franchise owners appoint a care manager who manages the care operations, and your trained caregivers provide the high- quality brand of homecare on the ground each day.
Home Instead offers an unrivalled level of support to its franchisees, and its guides and procedures make the process as simple as possible. Life as a new business owner starts with a thorough induction and then a comprehensive 180-day programme of tailored support, as well as invaluable peer support from fellow franchisees in the network.
Each franchisee is paired up with a business performance manager, taking responsibility for your ongoing franchise support. Their role is to help keep you aware, informed and on track with your projections. They will coach, guide and advise you along the way, acting as a non-exec and support function. The care quality and standards teams
provide the tools and guidance you will need to ensure your office operates to the highest quality standards, in keeping with the brand values and assuring the wellbeing of your clients.
The fact that the ratio of franchise offices to national office employees is 5:1 – an industry-leading standard – demonstrates how much resource the company dedicates to franchisee support, whether that is in IT, marketing, care quality, training, law or accounting – all the functions that will support you and your franchise during its business life cycle.
What investment is involved? A Home Instead franchise licence costs £39,500 plus vat, but franchisees need a further £55,000 to £65,000 in working capital to break even by month 12 to 14. The royalty fee is 6.5 per cent of monthly revenues plus vat. From day one, you will know what financial return you can expect for your investment with Home Instead. Many of the franchises are turning over in excess of £1million per year with operating profits of 15 to 20 per cent. Following the franchise model, Home Instead will support you to achieve your targets, so the financial risk is much less than launching your own business. A Home Instead franchise offers you the ability to run your own business, but with a proven model, a trusted brand and industry-leading support. A new owner will go through Home Instead training, which provides the tools and knowledge to build solid foundations, enabling the franchise owner to go on and build a successful business. As a prospective franchisee, it’s really simple to engage with Home Instead; it’s as straightforward as a phone call and then an informal conversation face to face. If you want to be part of a mission- led franchise that’s changing the face of ageing, the team would like to have a conversation with you.
July/August 2018 |
BusinessFranchise.com | 35
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