Franchise: the right or license granted by a company to an individual or group to market its products or services in a specific territory. This is the dictionary definition of a franchise. Our definition is much more than that: a family of franchisees working together for one purpose-to provide exceptional care for people in need of companionship, personal and memory care.
Owning a franchise business allows the franchisee to control their own financial well being, fulfilling a sense of entrepreneurship, while still having an established and proven support system within the corporate foundation of the brand. Currently, according to the International Franchise Association (IFA) franchises are significantly more prosperous economically than most start-up businesses. It’s a smart decision for those desiring independence from a business standpoint with fewer risks financially, and the ability to build wealth through a business asset.
How does it work? You invest in the franchise by paying a one-time franchise fee. This includes, among other things, the rights to usually an exclusive territory, initial complete training for you and typically your first hire(s), technology support (think email, website, social media set up) sales and marketing strategies, tools and support, etc. Franchisees then contribute what’s called a “royalty,” which is paid either weekly or monthly, (depending on the model) and should be based on gross sales generated by the franchisee. The fees paid by the franchisee reinforce the system of which the franchise model runs upon. The franchisee is paying for the brand strength, purchase discounts, and the expertise and knowledge of the corporate team, etc. whose sole priority is to help franchisees prosper. A well-established and experienced franchise system knows that the more prosperous their franchise owners are, the more the brand prospers.
When deciding on the “right” franchise, look for the following at minimum:
• Initial and On-going training
• Growth opportunities for franchisees
• A strong and well-respected brand
• Continual franchisor support
• Marketing, human resource and operations training
• Effective communication mechanisms with their owners (conventions, conferences, intranet, etc.)
• A cutting-edge technology platform and support
At FirstLight, we provide all of the above and more.
• National Accounts
• Preferred vendors and suppliers
• In-field Business Development support
• Complete web-based technology platform, including full payroll processing
• Licensure and regulatory research and support
• Culture of Care philosophy
• Commitment to Service Excellence—including “live”, monthly client satisfaction surveys
If you have a passion for helping others, giving back to seniors, and being a positive influence in your community, then a FirstLight franchise may be perfect for you. Learn more.