Finding the Right Balance for Your Franchise
Franchising is not one-size-fits-all. Just as everyone has different career goals, franchising has options to fit every preference. Want to own a thriving business serving neighbors in your close-knit community? You can do that. Want to be the go-to source for senior home care in the region? You can do that, too.
In franchising, the distinction between the two options is single-territory versus multi-territory. At FirstLight Home Care, we use proprietary demographic software to determine franchise territory potential, analyzing total population, senior population and average household income, ensuring that our franchise location owners have a real shot at success in a given territory.
There are many factors that go into a decision to have a single territory or multiple franchise territories. Here are some things to consider.
A single-territory FirstLight franchise is perfect for you if:
- You prefer to focus on just one office or territory.
- You are a hands-on type who enjoys doing daily work yourself.
- A single territory will fulfill your career goals.
Single territories are also less expensive to start, so they are perfect for someone just getting started in franchising.
With a multi-territory model, you oversee locations in an entire region or locations in several regions. There are different paths to multi-territory. You can start small with one territory and grow your investment over time, or you can plan for multiple territories from the outset. This model is right for you if:
- You are comfortable with on-site managers overseeing daily operations.
- You want to see greater revenue.
- You enjoy traveling to multiple locations.
If you choose this route, our Area Development Program will let you secure multiple territories at reduced fees, with a 12-15 month deferred opening schedule between each location, so you’re not overwhelmed opening multiple locations at once.
FirstLight Can Help
FirstLight Home Care can work with potential franchise location owners to develop a business plan that works for them, whatever their needs and goals. We can help you develop a strategy that will fit your unique situation. More than 33 percent of our FirstLight owners have purchased multiple territories to meet their long-term goals. If you are interested in getting started in senior home care, no matter how big or how small you want to go, we would love to talk to you. Contact FirstLight Home Care online today.