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This special FDD Talk series will highlight the financial performance representations of 13 Senior Care franchises, with a cross-analysis of the featured franchises to be published at the end of the series.
Highlights of Comfort Keepers’ Item 19 Financial Performance Representations (2012 FDD) – Part 1
- The franchised business is a distinctive business that operates under the Comfort Keepers trade name. The business provides in-home care for the elderly and other adults who need assistance in daily living, including homemaker/companionship care, personal care, and personal technology services.
- The total investment necessary to begin operations of a Comfort Keepers franchise is from $61,450 to $88,500. This includes $42,000 that must be paid to the franchisor or affiliate.
- For purposes of this Item 19, “net revenue” means that revenue on which a franchisee pays royalty (but which is, in the Franchise Agreement, called “gross revenue”), that is, the total amount of money the franchisee and its owners receive for all goods sold and services rendered in connection with the Marks, and all other income of any kind derived directly or indirectly in connection with the operation of a Franchised Business, including client deposits and payments for mileage charges, but excluding sales tax and client refunds.
Net Revenue Achieved During the Reporting Period by Franchised Businesses
- This section shows information relating to all Franchised Businesses operating as of September 30, 2011 that had been operating for at least one year and reported revenue for every month during the period October 1, 2010 through September 30, 2011 (the “Reporting Period”).
- The franchisor used the Start Date for a Franchised Business as the date its operations began. Under a Start-up Agreement, the Start Date is the end of the month after the franchisee completes initial training. Under an Expansion Agreement executed before January 1, 2007, the Start Date is the date of execution of the Expansion Agreement.; under an Expansion Agreement executed January 1, 2007 or after, the Start Date is 60 days after the date of execution of the Expansion Agreement..
- For purposes of the net revenue shown in this section, the franchisor used the Gross Revenue figures from the royalty reports the franchisees filed with the company; these revenues are reported on a cash basis.
- This section excludes 19 Franchised Businesses that closed during the Reporting Period and 33 Franchised Businesses that reported no revenue or did not file a royalty report for one or more months during the Reporting Period.
- Each of the Franchised Businesses included below provided the homemaker/companionship services and personal care services that you must provide under the Franchise Agreement, and most provided Personal Technology Services and Equipment under the SafetyChoice Program.