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 FirstLight HomeCare’s Item 19 Financial Performance Representations (2012 FDD)
- The franchisee will receive a franchise and license to own and operate a FirstLight HomeCare business, providing non-medical care services to individuals 18 years of age or older, needing assistance with the activities of daily living and personal care, as well as those requiring companion care and dementia care, for an initial term of 10 years, with the right, on payment of a renewal fee and compliance with other conditions, to renew for 2 additional successive 10 year renewal terms.
- The total investment necessary to begin operation of a FirstLight HomeCare franchise ranges from $69,530 to $95,765. This includes the $30,900 initial franchise fee that must be paid to FirstLight HomeCare Franchising, LLC.
- The total investment necessary to convert your existing, independent, non-medical, in-home care business to a FirstLight HomeCare franchise ranges from $36,090 to $39,705. This includes the $30,900 initial franchise fee that must be paid to FirstLight HomeCare Franchising, LLC.
- The total investment necessary to begin operation of a FirstLight HomeCare area development business having an area development schedule of 3 to 5 units will be from $92,030 to $113,265. This includes an initial area development fee equal to $7,500 multiplied by the total number of FirstLight HomeCare businesses reflected in the development schedule that must be paid to FirstLight HomeCare Franchising, LLC.
Net Revenue of 11 Franchised FirstLight HomeCare Businesses for the 12-Month Period Ended February 1, 2012
- The section below describes the “net revenue” of 11 franchised FirstLight HomeCare businesses (the “Item 19 Businesses”), as reported to the franchisor by the businesses, for the 12-month period ended February 1, 2012 (the “Reporting Period”).
- There were a total of 31 franchised FirstLight HomeCare businesses in operation as of December 31, 2011. The Item 19 Businesses consist of all franchised FirstLight HomeCare businesses that were in operation during the entire Reporting Period.
- The franchisor has not audited the figures below, although it believes them to be reliable.
- “Net Revenue” means that revenue on which a franchisee pays royalty fees, which is referred to as “gross revenue” in the Franchise Agreement. This is the total amount of money the franchisee and its owners receive for all goods 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 Item 19 Business.