In this FDD Talk post, you’ll learn the following:
- Section I – Background information on the Visiting Angels franchise opportunity, including relevant news updates
- Section II – Estimated initial investment for a Visiting Angels 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 Visiting Angels franchise, based on Items 5 and 6 of the company’s 2017 FDD
- Section IV – Presentation and analysis of Visiting Angels’ financial performance representations, based on Item 19 of the company’s 2017 FDD, including information on the:
- number of Visiting Angels franchisees that generated 2016 annual revenues of $0 to $10,000; $10,001 to $20,000; $20,001 to $50,000; $50,001 to $100,000; $100,001 to $200,000; $200,001 to $300,000; $300,001 to $400,000; $400,001 to $500,000; $500,001 to $600,000; $600,001 to $700,000; $700,001 to $800,000; $800,001 to $900,000; $900,001 to $1,000,000; $1,000,000 to $1,500,000; $1,500,000 to $2,000,000; $2,000,000 to $3,000,000; and over $3,000,000, respectively
Section I – Background Information
11 Things You Need to Know About the Visiting Angels Franchise
2018 Best of Home Care Endorsed National Provider Recipient
1. In late February 2018, Home Care Pulse, the home care industry’s leading satisfaction research firm, released its list of the 2018 Best of Home Care Endorsed National Provider recipients. Visiting Angels along with other top home care companies – such as BrightStar Care, Home Helpers, Homewatch CareGivers, Right at Home, and a few others – were on the 2018 list.
2. Best of Home Care Endorsed National Provider recipients are home care franchises, membership organizations, and large national independents whose members, home care owners, and providers believe strongly in providing the best possible care to their clients. Each of the companies on the list received the highest client satisfaction ratings based on client feedback collected by Home Care Pulse. Additionally, a minimum of 10% of the organization’s North American locations must also qualify for a Best of Home Care award, 60% of whom must qualify for the award in three or more of the satisfaction categories evaluated during the calendar year.
3. Aaron Marcum, founder and CEO of Home Care Pulse, said, “Achieving this level of recognition demonstrates a long-term commitment to excellence in home care and shows dedication to client and caregiver satisfaction throughout their organizations. This level of recognition comes as a result of the combined efforts and focus from the corporate offices, local owners and managers, and the caregivers providing care. Each has raised the bar of quality for the home care industry.”
Palm Beaches Location Receives Best of Home Care Provider Award for Fifth Year in a Row
4. In early February 2018, Visiting Angels of the Palm Beaches announced that it had received the 2018 Best of Home Care Provider of Choice Award. The Provider of Choice Award is granted to only the top-ranked home care providers in the country, based on client satisfaction scores gathered by Home Care Pulse, an independent satisfaction research firm. This is the fifth year in a row that the Palm Beaches location has won the award. It is also currently ranked one of the top 10 private duty home care agencies in Palm Beach County.
5. Irv Seldin, JD, owner and president of Visiting Angels of the Palm Beaches, congratulated his home care team for winning the award again this year. He added, “We provide the highest-quality caregivers and companionship services in Palm Beach County. Our staff excels in the categories of compassion, work ethic, knowledge, timeliness, scheduling, communication and response to problems.”
Offers a Variety of Aging in Place Services
6. Visiting Angels stands out in the saturated senior home care market by focusing on providing quality “aging in place” services. Aging in place is the term used to describe most seniors’ desire to live at home for as long as possible before moving to a care facility.
7. Visiting Angels caregivers provide one-on-one support in the following areas:
- Companion Care – This service includes meal preparation, light housekeeping, errands, shopping, and companionship.
- Personal Care – Also called Private Duty Care, this service offers specialized, non-medical assistance to seniors and disabled individuals. Caregivers help with homemaking and personal activities such as dressing and bathing.
- Palliative Care – This is a certified service that aims to improve the quality of a senior’s life by focusing on their physical, emotional, social, and spiritual needs.
- Post-Hospital Stay Care – Visiting Angels is committed to preventing seniors from being re-admitted after being discharged from the hospital. Caregivers provide comprehensive tools and resources to ensure re-admission does not occur.
- Social Care – The social care program helps seniors stay connected with their families through modern technology such as Facebook, Skype, FaceTime, etc. Caregivers teach seniors how to use a cell phone; text, send e-mail, Skype, or use FaceTime; create a Facebook account/page and interact with family and friends; and log in, shop online, or research information on a search engine.
- Dementia Care – Dementia services offer specialized in-home support to those with early-stage, mid-stage, or late-stage dementia. Visiting Angels tailors its dementia care services to the specific symptoms, risks, and challenges related to the different types of dementia.
- Alzheimer’s Care – Visiting Angels provides free in-person meetings and assessments to determine if in-home Alzheimer’s care is right for the senior and their family seeking help. Care is then personalized around each client’s needs, with services customized according to the senior’s symptoms, personality, and routine.
- End of Life Care – This service ensures that caregivers do everything they can to keep seniors as comfortable as possible while they make this transition. Caregivers also offer support to seniors’ families as they go through this difficult time.
8. Visiting Angels was founded in 1998 in Philadelphia, Pennsylvania by Jeffrey Johnson and Larry Meigs, who has served as the company’s CEO and president since its inception. They started Visiting Angels with the intention of promoting a unique approach to home care consistent with the company’s motto of “Caring first, profits second.”
9. Before starting Visiting Angels, Johnson was the Director of Social work at a nursing home in Baltimore, Maryland. He was disappointed by what he witnessed and felt there should be better home care options for seniors and their families. Johnson spent nearly a decade building a business that connected elderly customers with high-quality and experienced caregivers.
10. In 1998, he teamed up with Meigs, a franchise developer from Philadelphia, Pennsylvania, who was then working to launch Visiting Angels as a national franchisor in private duty home care. Today, there are nearly 600 Visiting Angels locations in the United States, Canada, Brazil, South Korea, and Mexico.
Entrepreneur’s Franchise 500
11. Visiting Angels has ranked on Entrepreneur’s annual Franchise 500 list every year for the past 10 year. Visiting Angels’ highest rank was No. 74 in 2018, while its lowest rank was No. 231 in 2008.
Section II – Estimated Costs
- Please click here for detailed estimates of Visiting Angels 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 Visiting Angels’ 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 Revenue vs. Longevity Chart below is based on the actual, annual revenues reported by 554 franchisees that operated in calendar year 2016.
- The annual revenues in the chart represent, in increasing dollar ranges, the gross revenues received in calendar year 2016 only, by the franchisee for providing non-medical home care services to clients.
- These revenue reports are required by the Franchise Agreement for the calculation of royalties owed by the franchisee to Visiting Angels. The annual royalty revenue amounts are grouped into dollar ranges for the purpose of the chart.
- The months represent the number of months since the franchisee had attended Visiting Angels’ training class.
- There were 10 franchisees under contract that were not yet active in 2016 that are not represented on this chart.
- This chart represents a factual, historical financial performance representation of Visiting Angels’ franchise system. Some franchisees have sold this amount. Your individual results may differ. There is no assurance that you will sell as much.
2016 Yearly Revenue vs. Longevity Chart
- Longevity as of December 31, 2016, by number of months since training.