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Description
Investment Icon

What Are the Initial Investment Requirements for Homewatch CareGivers Franchise?

To become a Homewatch CareGivers franchisee, you should expect an initial investment ranging from $92,310 to $154,000. This includes a franchise fee of $50,000, along with additional costs for equipment, supplies, and other startup expenses. It's important to have cash on hand within this range and meet the net worth requirement of $200,000 to $500,000 to ensure you can sustain operations during the initial phase.

Fees Icon

What Are the Ongoing Fees for Homewatch CareGivers Franchisees?

Homewatch CareGivers franchisees are required to pay a royalty fee of 5% on gross sales, along with a marketing fee of 2%. These ongoing fees are essential for maintaining brand presence and support from the franchisor. Understanding these costs is crucial for budgeting and ensuring profitability as you grow your business.

Revenue Icon

What Is the Average Revenue Potential for Homewatch CareGivers Franchise?

On average, Homewatch CareGivers franchise units generate annual revenues of approximately $2,240,271, with a median revenue of $1,171,781. However, revenue can vary significantly, with the lowest reported annual revenue at $53,247 and the highest reaching $49,154,759. This wide range highlights the potential for profitability, depending on location and management strategies.

Breakeven Icon

How Long Does It Take to Break Even with a Homewatch CareGivers Franchise?

Franchisees can expect to break even within approximately 24 months of opening their Homewatch CareGivers unit. With an investment payback period of around 12 months, this franchise offers a relatively quick return on investment compared to other business models. This timeline can help you gauge financial viability and plan for future growth.

Homewatch CareGivers 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.

Net Worth Required icon The minimum total assets (minus liabilities) you must possess.

i Net Worth Required:

$200,000 - $500,000
Investment Payback icon The estimated period to recoup your total investment.

i Investment Payback:

12 Months
Franchise Fee icon The initial fee paid to join the franchise system.

i Franchise Fee:

$50,000
Royalty Fee icon Ongoing percentage of revenue paid to the franchisor.

i Royalty Fee:

5%
Marketing Fee icon Regular contribution toward the franchise’s advertising fund.

i Marketing Fee:

2%
Breakeven Time icon The estimated timeframe to recover your initial costs.

i Breakeven Time:

24 Months
Initial Investment icon The total amount required to launch the franchise.

i Initial Investment:

$92,310 - $154,000
Cash Required icon The minimum liquid capital you must have on hand.

i Cash Required:

$92,310 - $154,000
Average Revenue icon The typical yearly revenue generated per franchise location.

i Average Revenue:

$2,240,271
Median Revenue icon The middle value of yearly revenue among franchise locations.

i Median Revenue:

$1,171,781
Highest Revenue icon The largest reported annual revenue among franchisees.

i Highest Revenue:

$49,154,759
Lowest Revenue icon The smallest reported annual revenue among franchisees.

i Lowest Revenue:

$53,247
Industry icon A broad sector defining similar types of franchise businesses.

i Industry:

Healthcare & Senior Care
Category icon A more specific division within the broader industry.

i Category:

Home Healthcare
Leadership icon The key individuals guiding the franchise’s strategy and growth.

i Leadership:

Leanne Stapf
Corporate Address icon The official business address of the franchisor’s headquarters.

i Corporate Address:

6251 Greenwood Plaza Blvd., Suite 250 Greenwood Village, Colorado 80111
Funding Year icon Available financing options to help start the franchise.

i Funding Year:

2017
Parent Company icon The main organization that owns the franchise brand.

i Parent Company:

Homewatch CareGivers, LLC

Homewatch CareGivers Franchise Unit Growth Summary

A breakdown of corporate, franchised, and total units, with yearly net changes.

The overall number of operating franchise locations.

Total Units i

213
The number of locations owned by independent franchisees.

Franchised Units i

213
The number of locations owned and run by the franchisor.

Corporate Units i

0
Units 2021 2022 2023
Total Units 199 212 222
Net Change YoY 13 10
Franchised Units 199 212 222
Net Change YoY 13 10
Corporate Units 0 0 0
Net Change YoY 0 0
Investment About

Investment Overview

Homewatch CareGivers offers a low initial investment range of $92,310 to $154,000, making it accessible for aspiring entrepreneurs. The initial franchise fee is set at $50,000, with ongoing royalty and marketing fees of 5% and 2% of gross sales, respectively. This structure allows franchisees to manage their financial commitments effectively while tapping into a growing market.

Potential About

Financial Performance

The average annual revenue per unit for Homewatch CareGivers is an impressive $2,240,271, with a median annual revenue of $1,171,781. Franchisees can expect a breakeven time of approximately 24 months and an investment payback period of just 12 months, indicating strong potential for profitability in a relatively short timeframe.

Metrics About

Franchise Growth

Homewatch CareGivers has demonstrated consistent growth, increasing its franchised units from 199 in 2021 to 222 in 2023. This upward trend reflects the brand's expanding footprint and the increasing demand for home care services, positioning franchisees for future success in a competitive market.

Fees About

Operational Expenses

Franchisees can anticipate total annual running expenses of around $112,310, which includes costs for rent, utilities, marketing, and salaries. Understanding these operational expenses is crucial for effective budgeting and financial planning, enabling franchisees to optimize their profitability while delivering quality care services.

Breakeven About

Support and Training

Homewatch CareGivers provides comprehensive support and training to its franchisees, ensuring they are well-equipped to manage their operations. This includes initial training programs, ongoing support, and access to resources that help franchisees navigate the complexities of running a home care business, fostering a strong foundation for success.

Units About

Brand Mission

Homewatch CareGivers is dedicated to enhancing the quality of life for clients through compassionate, personalized care. The brand's mission is to provide reliable home care services that empower individuals to maintain their independence while receiving the support they need. This commitment to care and community sets Homewatch CareGivers apart as a trusted partner in the home care industry.

Frequently Asked Questions

The initial investment for a Homewatch CareGivers franchise ranges from $92,310 to $154,000, which includes the franchise fee of $50,000.