2013 was a triumphant year for the franchise industry. While the economy is still slowly recovering, the franchising industry continues to shower greater improvement and growth than most other economical sectors.
According to the International Franchising Association’s January issue of Franchising World, the feedback received from several diverse franchise systems presented a steady pattern of overall confidence in 2014. Many franchises expressed satisfaction with their 2013 results and are expecting steady, slow, and continual growth for 2014 as the economy works to recover. Most franchise systems predict solid growth and economical improvement as a whole, which is reinforced by the observation that franchises within various industries are showing progress, positive results, and continue to produce sturdy growth with expansion and profit; retail, food, healthcare, consulting, hospitality-all industries in which franchises present and predict continual growth, (and that’s only naming a few). 2013 was a strong year in general, but franchising seems to be bouncing back much quicker than other businesses. People finally feel comfortable enough with the economy to start considering pursuing their dream of owning their own small business or franchise. This trend, in and of itself presents proof that the economy, is in fact recovering and the outlook is positive.
For FirstLight Home Care, this same positive attitude rings true. 2013 was another strong year. The number of our clients served, caregivers employed and number of operating offices all greatly increased. On top of significant growth, we also received another franchise owner satisfaction award based on our owner satisfaction ratings in categories such as, training, support, technology, and more for Franchise Business Review. FirstLight Home Care received several honors and recognition from Entrepreneur, Franchise Times, INC, Franchise Business Review magazines, and many more. To emphasize just how quickly the FirstLight Home Care franchise system is growing, we also received an award for being the fastest-growing senior care system among all franchises, along with having the highest ranked franchise owner satisfaction out of all newer brands! With all these major awards rolling in, it comes at no surprise that our current owners continue to outpace the industry’s averages when it comes to growth. Our hours per week levels, caregiver retention and turnover, and client satisfaction results are exceptional. In 2013 we added several new markets, with 29 new franchise owners along with several of our existing owners expanding in to owning multiple territories. FirstLight Home Care now spans across 25 U.S. states and British Columbia Canada!
With a year like 2013, our goals aspirations and forecasts for 2014 are set high to earn more positive results. We are already seeing more growth as the end of 2014’s first quarter approaches, including growth in to Canada! A need and growth for our services is strongly predicted and seen, as well as an increasing awareness of our industry through new and existing venues and markets, striving to help more families and aging clients in need. We are also expanding and generating a more diverse customer base through several new and creative sources due to our marketing efforts. With a 98% client satisfaction rating, we are not only setting high standards for ourselves, but for the rest of the industry as well. We are constantly seeking improvement and will continue to maintain and surpass ourselves in terms of client services and satisfaction, and caregiver retention. We are also raising our standards even higher in terms of service quality throughout our entire franchise system.
Exciting developments and plans for 2014 include expansion into Canada, working on new services offered for U.S. clients, and developing major relationships with new organizations to expand the FirstLight Home Care brand and awareness. We plan on maintaining our commitment as being the service leader in our industry, which fuels our growth in 2014 and beyond.
2014 and Beyond
Our attitude and outlook isn’t positive only for 2014, but for many years to come as we see major opportunities ahead in every area of our business, along with continued growth in the U.S., Canada and around the world. As many of our competitors are struggling with industry changes and challenges like healthcare laws and implementation, Department of Labor overtime requirements, caregiver shortages, and increasing state licensure, FirstLight Home Care finds each of these issues as motivation and fuel for growth. At FirstLight Home Care we’ve worked hard to ensure that our franchise system already operates to leverage the impact of each of these challenges flawlessly, keeping our owners fortunate, our caregivers satisfied, our clients happy, and making FirstLight Home Care one of the leaders in the industry.
The home care industry will continue to face challenges involving caregiver overtime, creative caregiver recruiting for higher retention, understanding and implementing the Affordable Care Act, and how the home care industry will be affected. In order to pursue continued abundance, businesses within the industry will also need to find innovative methods to reach an evolving client base seeking different needs for care.
If you’ve been dreaming of owning your own franchise, now is the time to start! FirstLight Home Care is expanding at an exponential rate and we’re looking for more owners. Check out our franchising website, download more information through our Franchise Information Kit, and hear what our existing franchisees have to say about owning their FirstLight Home Care franchise. View our territory map to see what markets are available in your area or just give us a call. We’re always available to answer any questions! 1.866.985.5348. Start your path to ownership today!