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Always Best Care Senior Services Franchise ProfileHealthcare & Senior Care > Home Healthcare |
What is the Initial Investment for an Always Best Care Franchise?
To become an Always Best Care franchisee, you will need to prepare for an initial investment ranging from $89,725 to $145,900. This includes a franchise fee of $49,900. It's important to have cash on hand within this range as well as a net worth between $100,000 and $300,000 to meet the financial requirements necessary for opening your franchise.
What Are the Financial Performance Metrics of Always Best Care?
Always Best Care franchises have shown impressive financial performance, with an average annual revenue of approximately $2,845,932 per unit. The median annual revenue is around $2,044,935, indicating a strong potential for profitability. The breakeven time is estimated at 18 months, and the investment payback period is around 28 months, making it a potentially lucrative opportunity for aspiring franchisees.
What Are the Ongoing Fees Associated with Always Best Care?
As an Always Best Care franchisee, you will be responsible for ongoing fees, including a royalty fee of 6% of gross revenue and a marketing fee of 2%. These fees are essential for maintaining brand standards and supporting marketing efforts, which can help drive business growth. Understanding these costs is crucial for effective financial planning as you operate your franchise.
How Many Units Does Always Best Care Operate?
Always Best Care has demonstrated consistent growth in its franchise operations, with 231 franchised units reported in 2023, up from 207 in 2021. This upward trend in unit count signals a robust brand presence and increasing market demand for their senior care services. The absence of corporate-owned units indicates a strong focus on franchisee-led operations, which can provide a supportive environment for new franchisees.
Always Best Care Senior Services Franchise Financial Requirements
Below, you’ll find an overview of the initial investment needed to launch the business, along with the ongoing fees required by the franchisor to maintain operations over time.
The minimum total assets (minus liabilities) you must possess.
Net Worth Required:
The estimated period to recoup your total investment.
Investment Payback:
The initial fee paid to join the franchise system.
Franchise Fee:
Ongoing percentage of revenue paid to the franchisor.
Royalty Fee:
Regular contribution toward the franchise’s advertising fund.
Marketing Fee:
The estimated timeframe to recover your initial costs.
Breakeven Time:
The total amount required to launch the franchise.
Initial Investment:
The minimum liquid capital you must have on hand.
Cash Required:
The typical yearly revenue generated per franchise location.
Average Revenue:
The middle value of yearly revenue among franchise locations.
Median Revenue:
The largest reported annual revenue among franchisees.
Highest Revenue:
The smallest reported annual revenue among franchisees.
Lowest Revenue:
A broad sector defining similar types of franchise businesses.
Industry:
A more specific division within the broader industry.
Category:
The key individuals guiding the franchise’s strategy and growth.
Leadership:
The official business address of the franchisor’s headquarters.
Corporate Address:
Available financing options to help start the franchise.
Funding Year:
The main organization that owns the franchise brand.
Parent Company:
Always Best Care Senior Services Franchise Unit Growth Summary
A breakdown of corporate, franchised, and total units, with yearly net changes.
Total Units
Franchised Units
Corporate Units
| Units | 2021 | 2022 | 2023 |
|---|---|---|---|
| Total Units | 207 | 224 | 231 |
| Net Change YoY | 17 | 7 | |
| Franchised Units | 207 | 224 | 231 |
| Net Change YoY | 17 | 7 | |
| Corporate Units | 0 | 0 | 0 |
| Net Change YoY | 0 | 0 |
Franchise Overview
Always Best Care Senior Services is a leading provider of senior care services, specializing in non-medical in-home care and assisted living placement. Established to support the growing aging population, the franchise has gained a strong reputation for delivering compassionate care tailored to the unique needs of seniors. With a focus on enhancing the quality of life for clients, Always Best Care offers a blend of personalized services that empower seniors to maintain their independence while receiving the assistance they need.
Investment Requirements
Starting an Always Best Care franchise requires an initial investment ranging from $89,725 to $145,900. This includes a franchise fee of $49,900, alongside ongoing royalty and marketing fees of 6% and 2%, respectively. Potential franchisees should have a net worth of $100,000 to $300,000 and access to liquid capital within the same range to ensure they can support their business in the early stages.
Financial Performance
Franchisees can expect average annual revenues of approximately $2,845,932 per unit, with a median annual revenue of $2,044,935. The financial performance showcases the potential for profitability, with some units generating as much as $19,242,407 annually. The breakeven period is estimated at 18 months, with a payback on investment typically occurring within 28 months.
Operational Expenses
Operating an Always Best Care franchise involves various expenses, totaling around $67,700 annually. Key costs include rent ($12,000), utilities ($3,600), marketing and advertising ($9,600), and salaries for management and administrative staff ($30,000). Understanding these expenses is crucial for franchisees to manage their budgets effectively and optimize profitability.
Growth Trajectory
Always Best Care has demonstrated consistent growth, increasing its total franchised units from 207 in 2021 to 231 in 2023. This upward trend reflects the brand's expanding footprint in the senior care industry and its ability to attract new franchisees. The growing demand for senior services positions Always Best Care as a strong contender in a lucrative market.
Support and Training
Franchisees benefit from comprehensive support and training provided by Always Best Care. This includes initial training programs, ongoing operational assistance, and marketing support. The franchise is dedicated to ensuring that franchisees are equipped with the tools and knowledge needed to succeed in the competitive senior care landscape, fostering a collaborative environment that promotes growth and success.
Frequently Asked Questions
The initial investment for an Always Best Care franchise ranges from $89,725 to $145,900, which includes the franchise fee of $49,900.