When selecting an in home care franchise, you should be sure to thoroughly explore your options by asking several key questions. While there are various important questions to ask, there are three that we, at FirstLight Home Care feel should take high priority; for you, these might be “deal breaker” questions depending on the franchisor’s answers and validity. In any case, getting answers to these questions will allow you, as a potential franchisee, to determine whether or not the franchise system is well developed with a proven track-record:
1. Is prior health care or home care experience needed to be a potentially profitable franchise owner?
Each franchise system might have specific requirements, but most in this industry do NOT require any sort of healthcare or home care background to join their franchise system. At FirstLight, we look for other specific characteristics likes management skills, people skills, good relationship-building and organizational skills. What’s most important to us is finding people who align with our Culture of Care and Service Excellence philosophy and who understand the importance of following a proven model.
2. How are your Franchise owners performing…especially in their first couple of years? One key measure to the health of the franchise units in this industry is “Hours Per Week” Meaning, how many hours of care on average do franchisees obtain each week?
The number of hours on average a franchisee generates each week is a direct correlation to the time frame it will take to break even, cash flow and operating margins. Depending on the franchisor’s answer, this question also shows you how much working capital you truly need, and strongly reinforces how well the business can scale over time. At FirstLight, our franchise owners are generating nearly 250% more Hours Per Week at the end of both their first and second years in business compared to industry averages.
3. How strong are franchise owner support, corporate resources, and training both new and ongoing, and how is this measured?
Any franchise system can claim to have great support and training, but franchisee feedback and satisfaction are what truly validates the system. Some systems don’t even survey their franchisees for satisfaction. (Be sure to ask if they do!) If a franchisor says they do survey their owners, make sure to check if they conduct their surveys through a third party company and not themselves. There may be a handful of systems that do survey their owners, but very few that have outstanding support, training and the tools that enable their franchisees to consistently outperform the market. FirstLight has been highly ranked by Franchise Business Review in each of its first two full operating years.
For more information on becoming a FirstLight Home Care franchise owner, or if you have any further questions, feel free to contact us through our franchise opportunities page , download an informational franchise kit, or give us a call: 1.866.985.5348