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 Homewatch Caregivers’ Item 19 Financial Performance Representations (2012 FDD) – Part 2
- The sections below present the actual gross wages of Caregivers, Office Staff, and Marketing Staff for all franchised Businesses that reported wages in one or more categories for all six months from April through September 2011.
- The wages reported below do not include other employee-related expenses, such as payroll taxes, employee benefits, training, and professional development expenses.
- Excluded from this data is any franchisee that failed to report wages for a particular type of employee in each of the six months.
- Some franchisees did not report Marketing Staff wages because they do not employ persons who only perform marketing duties.
- These figures do not reflect all of the costs of sales or operating expenses that must be deducted from the gross revenues figures to obtain your net income or profit.
- Annualized Revenue is the reported Gross Billings of every franchisee that was open and reporting Gross Billings for each month from April through September 2011, annualized by multiplying by two.
- All franchisees who reported during this period are included, regardless of their length of time in business or the number of territories they operated.
- The financial information in this Item has not been audited or reviewed by an independent certified public accountant.
Part I – Average Caregiver Gross Wages as Percent of Revenues Based on Franchisee Annualized Revenue Level
- “Number of Franchisees” refers to the number of franchisees in each Annualized Revenue Level who reported Gross Billings and Caregiver gross wages for each month in the six-month period from April through September 2011.
- “Gross Wages” includes all amounts paid to Caregivers not including benefits and without deductions or withholdings of any kind.
- “Caregivers” refers to the persons who provide services to the clients of the franchisee’s business. Typically, Caregivers are paid by the franchisee on an hourly basis.