In this FDD Talk post, you’ll learn the following:
- Section I – Background information on the HomeWell Senior Care franchise opportunity, including relevant news updates
- Section II – Estimated initial investment for a HomeWell Senior Care franchise, based on Item 7 of the company’s 2017 FDD
- Section III – Initial franchise fee, royalty fee, marketing fee, and other fees for a HomeWell Senior Care franchise, based on Items 5 and 6 of the company’s 2017 FDD
- Section IV – Presentation and analysis of HomeWell Senior Care’s financial performance representations, based on Item 19 of the company’s 2017 FDD, including information on the:
- 2016 average gross revenue per HomeWell Senior Care franchisee that had been open for all of the 2016 calendar year
- 2016 average gross revenue per HomeWell Senior Care franchised territory that had been open for all of the 2016 calendar year
Section I – Background Information
8 Things You Need to Know About the HomeWell Senior Care Franchise
Uses Memory Cafes to Help Seniors with Alzheimer’s
1. HomeWell Senior Care is one of several senior in-home care businesses using Memory Cafes to help seniors with Alzheimer’s disease. Memory Cafes aim to bring together those suffering from Alzheimer’s and other forms of dementia to create local networks of support for individuals and their caregivers. A few HomeWell locations around the country have already started using Memory Cafes.
2. The brand’s newest Memory Cafe opened in Puyallup, Washington in early 2018. HomeWell Senior Care of Federal Way partnered with Lutheran Community Services in Tacoma to bring the first Memory Cafe to Puyallup. Linda McCone, a caregiver and support services coordinator with Lutheran Community Services, said, “When you have this disease that’s so daunting and challenging, you don’t feel like going out. One thing that can really help is to stay connected with other people.”
3. Puyallup’s Memory Cafe is held on the third Wednesday of every month at Mrs. Turner’s Hometown Cafe. At every meeting, the focus is on chatting with other visitors and getting to know them and what they might be facing. Word games are played and sometimes songs are sung. Rick Stafford, whose wife owns the HomeWell Senior Care in Federal Way, added that everyone who comes to the Memory Cafe has had a family member afflicted with Alzheimer’s or dementia.
4. HomeWell Senior Care executive director Deb Dennison also spoke of her own experiences of having a family member with dementia. Dennison spoke of her son, who developed dementia at the age of 23 due to a genetic disease called leukodystrophy. She said, “People with memory loss…their family members can feel like they’re sinking in loneliness and despair. Memory Cafes are about getting people to feel included — reaching out and just making human connection. It stops becoming frightening and starts becoming something you can handle.”
Offers a Wide Array of Services
5. HomeWell Senior Care offers a wide array of services, from independent living assistance to comprehensive, 24-hour care. The brand believes in empowering seniors to live in their own home for as long as they want. HomeWell’s services include:
- Hourly Care Services – HomeWell offers completely flexible hourly care services that fit clients’ schedules. Custom plans are created around a 24-hour day and adjusted according to HomeWell’s free assessment. Hourly care services can be provided at any time of the day, including early in the morning and late at night.
- Live-in Care Services – Live-in care services are ideal for seniors who need assistance throughout the day and limited assistance at night. Through this service, one of HomeWell’s Personal Assistants stays with a client for consecutive 24-hour shifts. It provides all the same benefits of a nursing home, while allowing the elderly to live in the comfort of their own home.
- 24-Hour Care Services – 24-hour care is for seniors who need assistance throughout the day and more attention at night. Care is provided around the clock and HomeWell’s caregivers make sure that clients have the help they need whenever they want.
- Care for Couples – This service ensures that elderly couples can stay together in their own home while receiving the care they need.
- Companion Care Services – Companion care services are great for seniors who just want some company and friendship while they do their daily activities. Companion services also include help with basic tasks such as laundry, errands, light housekeeping, help with pets, meal preparation, and cleanup.
- Care Management – Care management makes sure seniors and their families have the resources and attention they need. The program offers guidance to seniors and their families while they navigate the needed healthcare.
- Essential Services – This service makes sure that seniors conserve their energy by providing help with basic daily tasks. Essential services can be customized and HomeWell covers nearly all types of everyday tasks, including daily wellness checks, changing bed linens, verifying medications taken, reporting emergencies, unpacking groceries, laying out clothes, and observing and reporting changes in condition.
- Transportation – HomeWell’s services include transportation, so seniors never feel like they’re trapped at home. Transportation services can be used for running errands, special outings, and anything else a senior might need.
- Transitional Care – HomeWell offers transitional care that helps seniors heal from a hospital stay while in the comfort of home. Assistants also help seniors cope with new disabilities in a safe and attentive environment.
6. HomeWell Senior Care was founded in 1996 by Joshua Hoffman in Fort Worth, Texas. Hoffman was 19 years old when he began working as a nursing assistant in a nursing home. His experience at the nursing home drove him to want to help people one-on-one, so he started working with a home care agency. Hoffman eventually decided to start his own home care agency and initially called the business Hoffman’s Home Helpers. The company changed its name to HomeWell Senior Care in 2002 and franchising started the following year.
7. Since then, HomeWell Senior Care has partnered with like-minded individuals who share Hoffman’s vision and strong desire to help people. There are currently over 63 HomeWell Senior Care locations in the United States and Canada.
Entrepreneur’s Franchise 500
8. HomeWell Senior Care has appeared consistently on Entrepreneur’s annual Franchise 500 list during the past 10 years, except from 2014 to 2016. HomeWell’s highest rank was No. 198 in 2017, while its lowest rank was No. 486 in 2009.
Section II – Estimated Costs
- Please click here for detailed estimates of HomeWell Senior Care franchise costs, based on Item 7 of the company’s 2017 FDD.
Section III – Initial Franchise Fee, Royalty Fee, Marketing Fee, and Other Fees
- Please click here for detailed information on HomeWell Senior Care’s initial franchise fee, royalty fee, marketing fee, and other fees, based on Items 5 and 6 of the company’s 2017 FDD.
Section IV – Financial Performance Representations (Item 19, 2017 FDD) and Analysis
- The financial performance information presented below is for the 2016 calendar year for all franchised territories that had been open for all of the 2016 calendar year.
- As of December 31, 2016, HomeWell had a total of 29 franchisees that were open. The financial performance representation consists of data for 23 of these 29 franchisees. The other 6 franchisees were not included because they were not open for all of 2016.
- The 23 franchisees whose data was included operated a total of 40 franchised territories (each franchised territory is under a separate Franchise Agreement). 11 of the 23 franchisees whose data was included operated multiple territories during the measurement period.
- Of the 40 franchised territories whose data was included: (i) 10 of these territories are approximately 2 times the size of a typical territory; (ii) 2 of these territories are approximately 3 times the size of a typical territory; and (iii) 1 of these territories is approximately 4 times the size of a typical territory.
- The Gross Revenues information was provided to HomeWell through required reports received from franchisees using a uniform system of reporting. The data has not been audited or independently verified by HomeWell or its accountant.