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FDD Talk 2020: Nurse Next Door Franchise Review (Financial Performance Analysis, Costs, Fees, and More)

Last updated on June 10, 2020 by Franchise Chatter Leave a Comment
in FDD Talk 2021: Service Franchises, Franchise Earnings, Senior In-Home Care Franchises



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In this FDD Talk post, you’ll learn the following:

  • Section I – Background information on the Nurse Next Door franchise opportunity, including relevant news updates
  • Section II – Estimated initial investment for a Nurse Next Door franchise, based on Item 7 of the company’s 2020 FDD
  • Section III – Initial franchise fee, royalty fee, marketing fee, and other fees for a Nurse Next Door franchise, based on Items 5 and 6 of the company’s 2020 FDD
  • Section IV – Number of franchised and company-owned Nurse Next Door outlets at the start of the year and the end of the year for 2017, 2018, and 2019, based on Item 20 of the company’s 2020 FDD
  • Section V – Presentation and analysis of Nurse Next Door’s financial performance representations, based on Item 19 of the company’s 2020 FDD, including information on the:
  • average, median, high, and low Gross Sales for Months 1-12 and Month 12 for the 42 franchised Nurse Next Door territories that were in operation 12 months or longer on September 30, 2019
  • average, median, high, and low Gross Sales for Months 13-24 and Month 24 for the 31 franchised Nurse Next Door territories that were in operation 24 months or longer on September 30, 2019
  • average, median, high, and low Gross Sales for Months 25-36 and Month 36 for the 24 franchised Nurse Next Door territories that were in operation 36 months or longer on September 30, 2019
  • average, median, high, and low Gross Sales for Months 37-48 and Month 48 for the 13 franchised Nurse Next Door territories that were in operation 48 months or longer on September 30, 2019
  • average, median, high, and low Gross Sales for Months 1-12 and Month 12 for the 6 franchised Nurse Next Door businesses that owned two territories as of September 30, 2019
  • average revenue per client per month for franchised Nurse Next Door businesses with clients in the system for the month of September 2019, regardless of the length of time in operation

Section I – Background Information

9 Things You Need to Know About the Nurse Next Door Franchise

Highlights 2019 Milestones

America's Most Lucrative Franchises of the Year

1.  At the end of December 2019, the Nurse Next Door Home Care Services blog made a year in review post, highlighting the company’s achievements for the year. The following were Nurse Next Door’s most significant 2019 milestones:

  • Expanded to Four New States – In 2019, Nurse Next Door had dozens of launches and entered four new states: Idaho, Indiana, Kansas, and Massachusetts.
  • Sold Out in Dallas – The Dallas-Fort Worth area in Texas has been a buzzing area for Nurse Next Door the past few years and in 2019, new partners joined the brand’s Texas family. Steve and Kristin Sines purchased multiple territories, including Frisco, Garland, Colleyville, and McKinney. Joseph Kincey III purchased a handful of territories covering areas of Arlington, Irving, the southeast of Dallas and Mesquite, and more. They’ve joined other Dallas-Fort Worth area franchise partners, Lee Hecker (Fort Worth) and Robert and Heather Green (Dallas North), in introducing Happier Aging to the Texans in the community. This means that all market territories in the Dallas-Fort Worth area are now sold out.
  • Franchise Partner Brings Nurse Next Door to Two Cities at Once – Franchise partner Joseph Kincey III launched his home care franchise business in 2019 and has already expanded his territory into two cities: Dallas and Houston. This veteran-turned-entrepreneur is thriving in the franchise system as he is tenacious, disciplined, and has a knack for following systems. He’s been working on developing his people and dominating his local marketing scene. Kincey has declared a bold goal, he wants to build his team to become “the biggest homecare business in Texas.”
  • One-Year Anniversary for Nurse Next Door Australia – In the past year, Nurse Next Door had been working closely with Australian master franchisors, Matt Fitton and Amber Biesse, and their team on setting up Australian processes and systems. Nurse Next Door said that it is proud to see the steady growth in Melbourne.
  • Ranked Twice on Entrepreneur Magazine – In 2019, Entrepreneur magazine ranked Nurse Next Door as the No. 3 Fastest-Growing Home Care Franchise and No. 190 on Franchise 500.
  • Continuing to Expand Globally – According to the World Health Organization, the population aged 65+ is growing at a rate of 3 percent each year and the number of people that are 80+ years old is projected to triple by 2050, from 137 million (2017) to 425 million (2050). Europe currently has the largest percentage of population of those aged 60 and over at 25% of the entire continent’s population. This is why Nurse Next Door is currently seeking franchise partners around the world, but especially in the following countries: United Kingdom, Germany, Austria, Switzerland, India, Japan, and Singapore.

Makes Plans to Further International Expansion

2.  In 2019, Nurse Next Door opened its first location outside of North America in Australia. Now that the Australian franchise has been open for a year, Nurse Next Door said that it wants to redefine aging on a global scale, which is why the company worked on creating the blueprints to expand into multiple countries over the next year.

3.  Over the last several years, Nurse Next Door studied international markets to prepare its model to align with and address each country’s existing systems and opportunities. Brands that enter a new territory without adapting their model to the local culture don’t typically have staying power. Nurse Next Door was willing to take its time, only considering markets where it will make an impact by bringing in a model that best suits that area.

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4.  The goal is to make as many lives better as possible. Nurse Next Door is prepared to disrupt outdated views on aging while shaking up what it means to provide home care. The company plans to bring Happier Aging to China as a joint venture, rather than a traditional master franchise agreement. China’s former one-child policy has left many couples taking care of two sets of aging parents with no siblings to help, and Nurse Next Door will be able to provide an extra set of hands for many families.

5.  Nurse Next Door also plans to enter the UK and Germany – the former with a traditional franchise model and unit-level partners, and the latter under a master franchise model. In both of these countries, Nurse Next Door will be addressing the needs of seniors by working within the structure of the countries’ health care systems.

Company History

6.  Nurse Next Door Home Care Services was founded in 2001 by Ken Sim and John DeHart in Vancouver, British Columbia, Canada. Sim and DeHart decided to start their own home care company after Sim failed to find quality care for his wife after she was put on emergency bed rest during her pregnancy.

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7.  Nurse Next Door set out to offer senior-care services ranging from simple companionship care and light housekeeping to skilled nursing services such as medication management, dementia care, live-in, and end-of-life care.

8.  After growing for a few years, Sim and DeHart started franchising Nurse Next Door in 2007. The company’s growth continued over the next decade and today, there are Nurse Next Door locations around North America and one location in Australia.

Entrepreneur’s Franchise 500

9.  Nurse Next Door ranked No. 206 on Entrepreneur’s 2020 Franchise 500 list.

Section II – Estimated Costs

  • Please click here for detailed estimates of Nurse Next Door franchise costs, based on Item 7 of the company’s 2020 FDD.

Section III – Initial Franchise Fee, Royalty Fee, Marketing Fee, and Other Fees

  • Please click here for detailed information on Nurse Next Door’s initial franchise fee, royalty fee, marketing fee, and other fees, based on Items 5 and 6 of the company’s 2020 FDD.

Section IV – Number of Franchised and Company-Owned Outlets

Franchised

2017

  • Outlets at the Start of the Year:  51
  • Outlets at the End of the Year:  75
  • Net Change:  +24

2018

  • Outlets at the Start of the Year:  75
  • Outlets at the End of the Year:  89
  • Net Change:  +14

2019

  • Outlets at the Start of the Year:  89
  • Outlets at the End of the Year:  101
  • Net Change:  +12

Company-Owned

2017

  • Outlets at the Start of the Year:  0
  • Outlets at the End of the Year:  0
  • Net Change:  0

2018

  • Outlets at the Start of the Year:  0
  • Outlets at the End of the Year:  0
  • Net Change:  0

2019

  • Outlets at the Start of the Year:  0
  • Outlets at the End of the Year:  0
  • Net Change:  0

Section V – Financial Performance Representations (Item 19, 2020 FDD) and Analysis

  • Nurse Next Door makes the following historic financial performance representations about subsets of its existing franchised territories.

Part 1 – Gross Sales by Territory for Months 1-12

  • Chart 1 below illustrates Gross Sales for the 12-month period from months 1 to 12 for Territories that were in operation 12 months or longer on September 30, 2019 and the Gross Sales in the 12th month for this same group.


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