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 HomeWell Senior Care’s Item 19 Financial Performance Representations (2012 FDD)
- The franchise being offered by the franchisor is for the operation and management of a business providing non-medical home health, home care, and facility staffing care services for seniors and those requiring in-home care.
- The total investment necessary to begin operation of a HomeWell Senior Care franchise is from $53,550 to $85,400. This includes a franchise fee of $39,500 that must be paid to the franchisor or its affiliate.
- The franchisor also offers to qualified franchisees the opportunity to become the company’s Development Agent within a specific geographical area. A Development Agent will act as the company’s agent in a specific territory, solicit new franchisees, assist existing franchisees, and conduct inspections of franchisees in the territory, among other things.
- To qualify to become a Development Agent, a franchisee must own and operate at least one HomeWell Senior Care business, must be in good standing under the Franchise Agreement, and must achieve and sustain, for at least 12 weeks, 2,000 hours of service per week.
- A Development Agent may only sponsor one new franchisee at a time.
- The company will pay a Development Agent a portion of the initial franchise fees, royalty fees, and transfer fees collected.
Average Gross Revenues of 20 HomeWell Senior Care Franchisees
- The following is the average Gross Revenues achieved by 20 HomeWell Senior Care franchisees, some of which operate multiple businesses, that have been in operation for more than 12 months.
- The company was not able to include results from all franchisees because some franchisees have not been in operation long enough, and some franchisees are not currently operating but are still in the System.
- Your revenues may vary significantly depending on a number of factors, including the location of your Business and how you operate your Business.
- The Gross Revenues information was provided to the franchisor through required reports received from franchisees, using a uniform system of reporting for the calendar years 2010 and 2011. The information is unaudited.
- The financial performance figures do not reflect the costs of sales, operating expenses, or other costs or expenses that must be deducted from net revenue or net sales figures to obtain your net income or profit.