Frequently Asked Questions
Learn More About Our Home Care Franchise
As you consider home care franchise ownership, you’re bound to have some questions. Our team at Homewatch CareGivers® has gathered some of the most frequently asked questions we hear when potential franchisees are considering investing in an in-home care franchise.
Do you have a question that isn’t covered below? Reach out by filling out the contact form for more information!
What is my income potential if I buy a Homewatch CareGivers franchise?This is largely up to you! An important part of the Homewatch CareGivers discovery process is clearly defining your individual goals as they relate to income, lifestyle, wealth, and equity. We want you to be confident that you can succeed in this business. We are governed by federal law, which does not permit us to tell you how much money you can make or how quickly you can make it; however, our detailed discovery process is designed to arm you with information and knowledge so you can determine, one way or another, whether our franchise opportunity can help you attain your personal financial goals. We do disclose financial information in our Item 19, which is part of our Franchise Disclosure Document. You will gain access to our FDD during our educational franchise ownership process.
Our team is available to answer any questions you may have about every part of our home care franchise opportunity. Contact us today!
How do I get financing for a home care franchise?
Although we do not provide direct financing, there are several ways we can help you obtain funding for starting your own Homewatch CareGivers franchise. We have partnered with several organizations to help franchisee hopefuls become business owners.
We are an SBA-approved franchise. The Small Business Administration (SBA) can help you get small business loans as well as offer valuable advice. We will also help you work through the loan process, as we have relationships with national financing partners. Other sources for small business loans include home equity, veteran's loans, banks, self-directed financing (e.g., 401(k) rollover), credit unions, unsecured lines of credit, and friends and relatives. Your dedicated franchise consultant can help direct you to the funding source that is right for you.
Homewatch CareGivers has partnered with Benetrends Financial, which offers a team of FICO® Pro Certified consultants to help franchise candidates find their best sources of funding. We also have relationships with funding sources to help our current franchisees with loans to fund the growth of their business. Whether franchisees want to hire more staff, expand into new regions, or secure more office space, we can help connect them with funding sources to remain financially secure.
What are the financial requirements for purchasing a Homewatch CareGivers franchise?At Homewatch CareGivers, we look for individuals with at least $80,000 in liquid assets and a minimum net worth of $350,000. The required liquid funds will help you pay our franchise fee of $50,000 and our net worth requirements help ensure that you have the ability to secure additional funds to start up the business. Initial investment estimates stated in our 2022 Franchise Disclosure Document for the first three months of business are between $91,810 and $177,750*. The total investment cost is based on varying factors, including the size of the territory you purchase, whether your state requires licensing, and the cost of operating in your local market area. We highly recommend having an additional $40,000 to $60,000 in working capital for the first year in addition to this initial investment range.
*See Item 7 of our 2022 Franchise Disclosure Document (“FDD”) for further details.
How big are your territories?A Homewatch CareGivers territory consists of contiguous zip codes with healthy household incomes and a total senior citizen population (age 65+) between 25,000 to 32,500. The actual geographic size will depend on how densely populated your area is.
How do you decide where my territory will be?Homewatch CareGivers awards protected territories that are developed collaboratively with you as much as the market allows. Our development team will work with you using state-of-the-art demographics tools to build an optimal market area. We also work with you to ensure we are building a territory in a strategic area that will be a good source of business partners and referrals.
What is the cost of a Homewatch CareGivers territory?The franchise fee is $50,000 for a territory with a population typically containing 25,000 to 32,500 seniors. This fee allows franchisees to operate under the Homewatch CareGivers brand name and allows access to ongoing support, a lifetime training guarantee, and proven processes and systems to help launch and grow a home care franchise. We proudly participate in the International Franchise Association’s (IFA) VetFran program by offering veterans a 30% discount on the initial territory fee.
How do people usually pay for home care?Many people assume that the care they need as they age will be provided to them through Medicare or their private health insurance. This is a common misconception. Medicare and health insurance cover important therapeutic and curative services that are meant to treat particular health issues, but these medical issues can create care needs that extend beyond covered medical services.
When someone is living with a health condition or chronic illness, they often experience difficulty with the basic activities of daily life, such as meal preparation, grooming, bathing, getting dressed, etc. Home care services are meant to provide for these needs, which fall outside of medical care a person receives to treat an illness or injury. These home care services, such as those provided by Homewatch CareGivers franchisees, are not covered through private or public health insurance, except in the relatively rare cases of Medicare Advantage eligibility or for those who qualify through Medicaid.
How will I find and hire good caregivers?Finding good caregivers is crucial to running a home care business. We have created a turnkey, reliable screening process to help franchisees manage the task of hiring only the best caregivers. At Homewatch CareGivers, qualified candidates are selected through a comprehensive screening process that includes a skills and experience checklist, pre-training and testing online, DMV checks, validating of licensure or certifications (if required by the state), and a pre-screening phone interview. The remaining candidates go through another round of selection, which includes an in-person interview, a national background check, and reference checks. Our process has been designed to meet or exceed state standards for caregiver selection, which is essential to ensuring that our franchisees are the premier provider of home care services in their markets.
Can I talk to some of your franchisees?Yes, you are welcome to speak with any of our franchise owners. In fact, if you do engage with us in the ownership process, you will be given a copy of our Franchise Disclosure Document, which contains a list of all franchisees and their contact information. Upon completing the educational portion of our process, you will have the opportunity to speak one-on-one with various franchisees by phone or face to face. As a franchisor, we encourage collaboration within our network, and you will find that many of our owners are able and willing to speak with you about their experiences to help you determine if this is the ideal business for you.
Is a medical or healthcare background required to run a senior care business?
No, medical and healthcare experience is not necessary to start a Homewatch CareGivers franchise. We find people with marketing, sales, or operations experience are well-suited for this industry. We also look for individuals with high, long-term income goals who are equally interested in improving the lives of others. Our Selective Candidate Profile page offers more detail on who is a good fit.
Our ideal home care franchisees possess the following traits:
- Ability to follow a proven business model
- Experienced leader who can manage a variety of individuals
- Searching for a people-driven, service opportunity
- Civic-minded and a community partner
- Seeking an active role in ownership of a business
- Passion for our mission, vision, and values
How is Homewatch CareGivers different from other home care franchises?
For nearly four decades, we have developed an intimate knowledge of the industry. Our strong foundation of expert home care based on tried-and-true practices will help launch your business successfully and quickly. Our commitment to providing in-depth training and ongoing support ensures that you’ll be well-equipped for success. When you select Homewatch CareGivers, you are getting much more than a name. You’re gaining an instant support system dedicated to helping you succeed.
We offer a variety of other differentiators:
- Our unique approach to care, based on person-directed caregiving, provides you with a distinct identity in your market.
- Our proprietary training platform, Homewatch CareGivers University, ensures ongoing, professionally developed training for your caregivers and staff.
- Our customized care solutions for people living with chronic conditions, Alzheimer’s, and dementia allow our clients to age in place.
- Our accountability and quality assurance standards bring confidence to clients and their families that our care is exceptional.
- Custom technology platforms offer back-end business management for owners, as well as convenience tools for clients and families.
- The ability to track outcomes of your clients offers added value to client families and referral sources.
What are the steps to owning a Homewatch CareGivers franchise?
Homewatch CareGivers strives to make the franchising process as simple as possible. We want you to come into this business with an accurate understanding of the industry and all that we have to offer as a home care franchise. To that end, we’ve developed a streamlined but comprehensive education process for prospective franchisees designed to take approximately 60-90 days to complete.
Your first step is to read through our website, familiarize yourself with what makes us unique, view franchisee testimonial videos, check available territories, and read articles from our franchise blog. Please make sure you are aware of the initial investment requirements, as well.
Visit our Steps to Ownership page for more details on the full process.