In this exclusive Franchise Chatter FDD Talk post, you’ll learn the following:
Section I – Estimated initial investment (franchise costs) for an Assisted Living Locators franchise, based on Item 7 of the company’s 2023 FDD
Section II – Initial franchise fee, royalty fee, and marketing fee for an Assisted Living Locators franchise, based on Items 5 and 6 of the company’s 2023 FDD
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Section IV – News updates on the Assisted Living Locators franchise opportunity
Section V – Presentation and analysis of Assisted Living Locators’ financial performance representations (average revenues and/or profits), based on Item 19 of the company’s 2023 FDD, including information on the:
- 2022 average, median, highest, and lowest gross invoiced revenues, grouped by number of territories owned, for the 75 Assisted Living Locators franchisees that have been open and operating for the entire 2022 calendar year and been operated and managed by 1 or more owners of the franchise on a full-time basis
- 2022 average, median, highest, and lowest gross collected revenues, grouped by number of territories owned, for the 75 Assisted Living Locators franchisees that have been open and operating for the entire 2022 calendar year and been operated and managed by 1 or more owners of the franchise on a full-time basis
Section VI – Key ratios, comparables, computations, and analyses for the Assisted Living Locators franchise opportunity (exclusive content for Platinum subscribers)
Section I – Assisted Living Locators Franchise Costs
- Assisted Living Locators franchise costs, based on Item 7 of the company’s 2023 FDD:
- Initial Franchise Fee: $49,500
- Business Set-Up Fee: $10,000
- Food, Lodging, and Travel (1 person while training): $1,000 to $1,500
- Real Estate, Buildout, and Improvements: not applicable
- Furniture and Furnishings (for home office): $0 to $500
- Technology Systems: $0 to $3,000
- Technology Fees (pre-opening): $495 to $844
- Marketing Fees (pre-opening): $3,000
- Utility Deposits: $0 to $300
- Certified Senior Advisor (CSA) Certification Fee: $990 to $1,090
- Dementia Care Certification Fee: $0 to $125
- Business Licenses: $50 to $1,000
- Professional Fees: $300 to $3,000
- Vehicle (title, registration, deposit, and 3 lease payments): $0 to $5,000
- Vehicle “Wraps” (optional): $0 to $2,800
- Insurance (12 months’ premium): $1,700 to $2,600
- Additional Funds (3 months): $7,200 to $10,200
- Total Estimated Assisted Living Locators Franchise Costs: $74,235 to $94,459
Section II – Assisted Living Locators’ Initial Franchise Fee, Royalty Fee, and Marketing Fee
- Assisted Living Locators’ initial franchise fee, royalty fee, and marketing fee, based on Items 5 and 6 of the company’s 2023 FDD:
- Initial Franchise Fee: $49,500
- Royalty Fee: greater of (a) 8% of Gross Collected Revenues or (b) the minimum royalty fee (ranging from $0 per month for months 1 and 2, to $1,400 per month for months 37 through end of term)
- Marketing Fee: $1,000 per month for 2nd through 5th full month after opening date, and $500 per month for remainder of term
- Brand and System Development Fund Fee: greater of (a) 2% of Gross Collected Revenues or (b) the minimum brand fund contribution ($300 per month)
Section III – Number of Franchised and Company-Owned Assisted Living Locators Outlets
Franchised
2020
- Outlets at the Start of the Year: 125
- Outlets at the End of the Year: 129
- Net Change: +4
2021
- Outlets at the Start of the Year: 129
- Outlets at the End of the Year: 131
- Net Change: +2
2022
"If I were considering buying a franchise today, checking territory availability would be one of my first steps — yet most buyers leave it until last." — Ambrosio, Franchise Chatter
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When I owned a UPS Store, I learned firsthand how much your ZIP code shapes your outcome. I sold my store at a premium because my territory was in a high-value area. The best areas go first, and once they're gone, they're gone. Enter your ZIP code, and a territory specialist will walk you through the franchises still available near you, drawing on information that isn't publicly accessible — saving you months of wasted research.- Outlets at the Start of the Year: 131
- Outlets at the End of the Year: 134
- Net Change: +3
Company-Owned
2020
- Outlets at the Start of the Year: 3
- Outlets at the End of the Year: 6
- Net Change: +3
2021
- Outlets at the Start of the Year: 6
- Outlets at the End of the Year: 3
- Net Change: -3
2022
- Outlets at the Start of the Year: 3
- Outlets at the End of the Year: 3
- Net Change: 0
Section IV – News Updates on the Assisted Living Locators Franchise
Section V – Financial Performance Representations (Average Revenues and/or Profits) for the Assisted Living Locators Franchise (Item 19, 2023 FDD)
- The following presents certain financial performance information for the 12-month period of time commencing January 1, 2022 and ending December 31, 2022 (the “Measuring Period”) for each franchisee that met certain qualifying criteria. The franchisor did not include data for any Assisted Living Locators Business owned by the franchisor or its affiliates.
- In order to be included (a “qualifying franchisee”), the franchisee must have: (a) been open and operating for the entire 2022 calendar year; and (b) been operated and managed by 1 or more owners of the franchise on a full-time basis.
- The financial performance representation does not include data for any franchised outlets that are not managed by at least 1 franchise owner on a full-time basis (i.e., passive ownership). Assisted Living Locators no longer allows passive ownership under its current franchise model.
- As of December 31, 2022, there were 102 franchisees open and operating (with a total of 134 territories), and 75 of these franchisees are qualifying franchisees.
- Of the 102 franchisees that were open as of December 31, 2022, 27 were not qualifying franchisees for the following reasons:
- 18 franchisees (with a total of 25 territories) were excluded because they were not open for the entire Measuring Period;
- 9 franchisees (with a total of 10 territories) were excluded due to passive ownership.
- The table below summarizes the franchisee statistics and the number of qualifying franchisees (each referred to as an “outlet”) whose data has been included:
- Franchisees in Operation (January 1, 2022): 97
- Franchisees in Operation (December 31, 2022): 102
- Franchisees That Opened During 2022: 18
- Franchisees That Left System During 2022: 13
- Franchisees in Operation All of 2022: 84
- Passive Ownership Franchisees in Operation All of 2022: 9
- Qualifying Franchisees: 75
- There are no material differences between the operations of the Assisted Living Locators Businesses operated by the franchisees whose data has been included and the franchised business offered under the Disclosure Document.
- For purposes of this financial performance representation, each franchisee is considered a separate “outlet,” although some franchisees operate multiple territories. The 75 franchisees whose data was included operate a total of 100 territories as of December 31, 2022.
- “Gross Invoiced Revenues” means the total amount of revenues invoiced, including (a) amounts that were not collected during the calendar year, or a reduction in fee due to a short-term stay or move-out, (b) amounts that could not be collected due to a client’s death or for any other reason. The term Gross Invoiced Revenues does not include any sales or use taxes. The total amount of Gross Collected Revenues may be materially less than the total amount of Gross Invoiced Revenues.
- “Gross Collected Revenues” means all gross sums collected by the franchised Assisted Living Locators Business, such as revenues from the sale or provision of goods or services, proceeds from business interruption insurance, and referral fees collected, including referral fees paid by Referral Sources, Senior Care Providers, other Assisted Living Locators Businesses (such as fee splits under Assisted Living Locators’ Referral Program), or Assisted Living Locators (such as fee splits relating to a Regional Account).
- Gross Collected Revenues includes any Gross Collected Referral Proceeds. With respect to fees generated through Assisted Living Locators’ Referral Program, Gross Collected Revenues only includes the franchisee’s share of the placement fee collected by the franchisee.
- Gross Collected Revenues excludes the following amounts:
- any referral fee the franchisee pays Assisted Living Locators for a Corporate Lead;
- any placement fee the franchisee collects but pays to another Assisted Living Locators Business under Assisted Living Locators’ Referral Program;
- any sales or use tax the franchisee collects and pays to the applicable taxing authority;
- the wholesale price paid by the franchisee for any merchandise or other retail items that it sells (Gross Collected Revenues includes the difference between the retail price received from the sale of the item and the wholesale price that the franchisee paid for the item).
- The following table presents the Gross Invoiced Revenues generated during 2022 by the qualifying franchisees described above:
Part 1 – 2022 Gross Invoiced Revenues (Subsets Based on Number of Territories Owned)
Subset 1 – All Franchisees (75 franchisees)
- Lowest: $1,451
- Highest: $1,061,105
- Median: $116,831
- Average: $190,449
- Number and Percent That Achieved/Surpassed Average: 21 of 75 (28%)
Subset 2 – Franchisees Operating 1 Territory (54 franchisees)
- Lowest: $1,451
- Highest: $672,347
- Median: $90,246
- Average: $149,636
- Number and Percent That Achieved/Surpassed Average: 18 of 54 (33%)
Subset 3 – Franchisees Operating 2 Territories (17 franchisees*)
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- Highest: $1,061,105
- Median: $149,852
- Average: $243,503
- Number and Percent That Achieved/Surpassed Average: 4 of 17 (24%)
Subset 4– Franchisees Operating 3 Territories (4 franchisees)
- Lowest: $255,038
- Highest: $825,502
- Median: $491,600
- Average: $515,935
- Number and Percent That Achieved/Surpassed Average: 2 of 4 (50%)
- *One of the 17 franchisees listed as operating 2 territories closed her 2nd territory on December 31, 2022. Since her 2nd territory was open nearly the entire year, Assisted Living Locators treated her as having operated 2 territories throughout the entire 2022 calendar year for purposes of this Financial Performance Representation.
- The determination of number of territories owned was made as of the end of the 2022 calendar year. For example, if a franchisee began 2022 with 1 territory, purchased an additional territory in June 2022 and ended 2022 owning 2 territories, the franchisee would be listed as a franchisee operating 2 territories.
- In 2022, Assisted Living Locators had 3 franchisees (whose data was included in this Financial Performance Representation) change the number of territories owned during 2022, including: (1) 1 franchisee that started the year with 2 territories and ended the year with 1 territory; and (2) 2 franchisees that started the year with 3 territories and ended the year with 2 territories.
Part 2 – 2022 Gross Collected Revenues (Subsets Based on Number of Territories Owned)
- The following table presents the Gross Collected Revenues generated during 2022 by the qualifying franchisees described above:
Subset 1 – All Franchisees (75 franchisees)
- Lowest: $10,834
- Highest: $797,055
- Median: $109,517
- Average: $165,219
- Number and Percent That Achieved/Surpassed Average: 23 of 75 (31%)
Subset 2 – Franchisees Operating 1 Territory (54 franchisees)
- Lowest: $10,834
- Highest: $578,962
- Median: $90,246
- Average: $131,882
- Number and Percent That Achieved/Surpassed Average: 17 of 54 (31%)
Subset 3 – Franchisees Operating 2 Territories (17 franchisees)
- Lowest: $69,707
- Highest: $797,095
- Median: $149,212
- Average: $202,236
- Number and Percent That Achieved/Surpassed Average: 4 of 17 (24%)
Subset 4– Franchisees Operating 3 Territories (4 franchisees)
- Lowest: $255,612
- Highest: $687,599
- Median: $444,255
- Average: $457,943
- Number and Percent That Achieved/Surpassed Average: 2 of 4 (50%)
- In making the above financial performance representation, Assisted Living Locators has relied upon reports submitted to it by its franchisees. Neither Assisted Living Locators nor any independent certified public accountant has independently audited or verified the information.
- The financial performance representation does not include any expense information. As a franchisee, you will incur a variety of expenses, such as payroll expenses (if you have employees or independent contractors), marketing expenses, gas, vehicle expenses, utilities, as well as the initial and ongoing fees imposed under the Franchise Agreement.
- Some Assisted Living Locators businesses have earned this amount. Your individual results may differ. There is no assurance that you will earn as much.
Section VI – Assisted Living Locators Franchise Ratios, Comparables, Computations, and Analyses (Exclusive Content for Platinum Subscribers) ⬇️
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