ComForCare Home Care Franchise Costs: Estimated Initial Investment (Item 7, 2022 FDD)

For single-unit Franchised Businesses that initially provide only personal care services and on-site community care.

1. Initial Franchise Fee: $49,500 to $52,000

Standard Offering: a single-unit franchise is $52,000; a two-pack, multi-unit franchise is $94,500 ($52,000 for the first unit and $42,500 for the second unit); for a three-pack, multi-unit franchise is $132,000 ($52,000 for the first unit, $42,500 for the second unit, and $37,500 for the third unit.)

Reduced Initial Fee Offering: a single-unit franchise is $29,500; a two-pack, multi-unit franchise is $59,000 ($29,500 for the first unit and $29,500 for the second unit); for a three-pack, multi-unit franchise is $88,500 ($29,500 for the first unit, $29,500 for the second unit, and $29,500 for the third unit.)

Qualifying franchisees may be eligible to finance part of this fee either via a Deposit Agreement or through the financing program.

2. Travel Expenses for Training: $0 to $7,500

You are required to attend the entire Phase Two Training at ComForCare’s corporate headquarters or virtually. In addition, you are required to have one other employee who works as your administrator or marketer attend the Phase Two training days relevant to their position in your Franchised Business.

3. Real Estate and Related Expenses (3 Months): $2,250 to $3,250

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If you do not own adequate office space, you must lease adequate office space. Typical locations are in office buildings.

A typical new single-unit ComForCare Home Care office that provides personal care services and on-site community care would require 300 to 500 square feet of space and rent is estimated to be $9,000 to $18,000 annually depending on size, condition, and location of leased premises.

A typical new multi-unit ComForCare Home Care office that provides personal care services and on-site community care would require 500 to 750 square feet of space and rent is estimated to be $12,000 to $20,000 annually depending on size, condition, and location of leased premises.

4. Office Equipment: $2,300 to $6,500

This amount may be necessary to purchase office furniture, decorations, fixtures, and incidental supplies.

Additionally, this may be necessary to purchase medical equipment used to train your caregiver staff on how to properly lift, clean, and care for clients.

5. Computer Systems (3 Months): $3,000 to $5,000

This amount is necessary to purchase and/or license your computer hardware, software, data storage, and access fees. This amount also includes your: Technology Fee, Google Workspace Fee, and a one-time $300 integration fee for the client management software.

6. Signs: $100 to $550

7. Miscellaneous Opening Costs: $1,200 to $5,350

This amount includes your essentialALZ certification expenses, utilities, business licenses, incorporation, or applicable legal fees.

8. Licensing Fees: $0 to $6,000

Your state of operation may require that you obtain some form of licensure and/or accreditation before being allowed to provide the Approved Services. Initial license fees as well as license renewal fees vary, but traditionally range anywhere from $25 to $6,000 per year and are your sole responsibility.

9. Accreditation Fees: $0 to $10,000

Initial accreditation fees (as well as accreditation renewal fees) are approximately $10,000 and are your sole responsibility.

10. Insurance (3 Months): $1,875 to $3,500

This amount represents an initial insurance deposit. Required insurance policies include comprehensive general liability, including automobile liability, third-party fidelity bond coverage, employment practices liability insurance, worker’s compensation, network security (cyber) insurance, and any other insurance required by statute or state law.

The estimated cost for all insurance except workers’ compensation (which varies by location) during the first year of operation is $7,500 to $12,500.

11. Office Supplies: $1,000 to $2,250

12. Local Marketing (3 Months): $6,000

This amount represents charges for various dues and memberships for marketing, e-newsletter distribution, promotional materials, internet advertising, advertising, and employee-related sales expenses.

ComForCare recommends that you spend the greater of 2% of your Gross Sales or $1,250 per month on your local marketing efforts exclusive of your caregiver recruiting spend.

13. Recruiting Expenses (3 Months): $2,250

ComForCare recommends that you spend at least $750 per month on your caregiver recruiting and retention efforts which include, but are not limited to, digital (online) caregiver recruiting, recruiting through texts, print hiring ads, job fairs, and third-party recruiting vendors.

14. Additional Funds (3 to 6 Months): $22,000 to $44,000

ComForCare requires that you begin your Franchised Business with at least 3 to 6 months additional working capital funds. However, it recommends that you begin your Franchised business with at least 12 months of additional working capital funds ($88,000 to $103,000 for single-unit franchisees, $120,000 to $144,600 for multi-unit franchisees). These funds are usually allocated to administrative/marketing/nursing employee payroll/payroll (not owner’s salary).