Owning a Business is a Path, Not a Destination
Too often, prospective business owners view owning a business as a destination instead of a path. They say their goal is to own a business, and for some perhaps that’s true
Five Mistakes to Avoid when Selecting a Territory
This post is written to help you avoid some of the common mistakes that others make during this stage of the process.
Five Facts about Franchise Agreements
There is a multitude of reasons why franchisors are unwilling to make individual changes to franchise agreements. I’ll discuss the biggest ones below from the franchisor’s perspective.
Recruiting, Training, and Retaining Caregivers: The Right at Home Way
With over two decades of experience in the industry and over 15,000 caregivers hired since our inception, Right at Home has been able to create a comprehensive system to manage the hiring process and match the best candidates for the job.
THE RIGHT VALIDATION MINDSET; SETTING YOUR OWN EXPECTATIONS
As you probably know, the process of becoming a Right at Home franchise owner has several important steps, such as validation. Toward the end of that process, you will validate that the business model works by talking with current Right at Home franchisees.
Financing your Business with your 401(k)
Despite the tough financial environment, Right at Home franchisees have continued to build momentum year after year by securing their Business financing with their 401(k).
Why Senior Care Franchises Work
With the oldest boomers beginning to turn 65 themselves in 2011, there is a tremendous population that will begin to need these services, which casts a bright future for the industry.
The Business of Senior Care
According to a 2010 US census brief, seniors are now the largest age group in the United States, and their numbers continue to grow each year. As such, the need for services provided by the senior care industry is booming, and will continue to grow as the population continues to age and life-expectancy rates increase. This makes the business of senior care not only a robust one, but also necessary for the varied types of care seniors require now and in the future.
MARKETING TO ATTRACT NEW FRANCHISEES
With the International Franchise Association projecting 14,000 new franchises opening this year, representing a 2.1 percent growth from 2011, the franchising industry is predicting strong growth for 2012.
With this large pool of prospective franchisees entering the market, senior care franchises, as well as franchises in other industries, will use various strategies to stand out from the crowd. An example of this is by creatively counting the multiple revenue streams offered by their business, as I discussed in my previous post. Another is offering discounts on the franchise fee, or other special provisions, such as offering territories much larger than the normal parameters – or even waiving certain requirements that would actually benefit the new franchisee.
The Validation Checklist
The validation period of your journey to owning your own franchise is not only a critical step, but also an exciting learning opportunity. While every person is going to ask different questions, here are a few things to consider when calling franchise owners.