The phrase ‘There is no place like home’ has never rung as true as it does now. After the isolating events of the pandemic and the poor performance of nursing homes and assisted living facilities, 90 percent of aging Americans (and those who love them) want to stay living at home as long as possible, according to a new survey from American Advisors Group. However, they won’t be able to do it alone.
Services offered by home care industry providers are in major demand, and it has savvy entrepreneurs highly interested in investing. A quick search for in-home care franchises will result in dozens of results. However, not all franchises are created equal. Home Instead is one name that will surface. Here is a look at how a Home Instead franchise compares to a CareBuilders at Home franchise.
Startup Costs and Fees
|Home Instead Franchise||CareBuilders at Home Franchise|
|Investment||$128,000 – $160,000||$100,400 – $155,500|
|Term of Agreement||10 years||10 years|
|Number of Units||1,144||15|
|On-The-Job Training||9 hours||32 hours|
|Classroom Training||44.5 hours||56 hours|
One notable difference between Home Instead and CareBuilders at Home is the number of franchise locations. Home Instead has more than 1,000 locations throughout the country, an impressive number. However, this means most, if not all, of the prime territories are already spoken for, leaving little real opportunity for new franchise owners. Conversely, CareBuilders at Home is a smaller, fresher company with 15 locations. This provides potential franchise owners with a huge opportunity to get in on the ground floor and establish themselves in prime locations in highly populated and desirable markets, which is key to building a successful home healthcare business.
In fact, CareBuilders at Home gives franchise owners the largest exclusive territory of any franchise system in the industry. Compare a territory with an estimated population of 35,000 senior citizens to a territory with Home Instead that only promises a potential customer base of 10,000 people aged 65 and older.
Training and Support
Both franchise systems have training programs in place to set franchise owners up for success and quickly elevate them from beginner to industry expert. Home Instead provides 44.5 hours of classroom training with an additional nine hours of on-the-job training. Compare that to the robust training program at CareBuilders at Home, which provides 56 hours of online classroom training enhanced with 32 hours of on-the-job training.
When it comes to ongoing support, CareBuilders at Home distinguishes itself not only from Home Instead but every other franchise system in the home care industry. CareBuilders at Home is the only home care franchise that provides complete back-office assistance to franchise owners. This includes handling payroll and taxes as well as billing and collections from clients. This allows franchise owners to concentrate on the core business.
Multiple Revenue Streams
Home Instead’s primary revenue stream is non-skilled care. The CareBuilders at Home business model offers franchise owners the opportunity to tap into multiple revenue streams. The company recently introduced its innovative Virtual Caregiver program. It is a subscription-based virtual system exclusive to CareBuilders at Home and is an effective alternative for seniors who may be resistant to traditional hourly home care services. This approach presents franchise owners within the CareBuilders at Home system a unique competitive business advantage.
To learn even more about the advantages of becoming a CareBuilders at Home franchise owner, contact us to request additional information.