Executive Update with Margaret Haynes CEO | 1.14.25
Duration: 28m 50s
Description:
In this Right at Home Executive Update, Jen Chaney, CFE, VP of Franchise Development speaks with Margaret Haynes, President & CEO, to discuss the company’s successful 2024, highlighting a 37% increase in new territories and positive franchisee feedback. Key initiatives for 2025 include a CRM project to enhance operational efficiency and AI integration to improve caregiver and client matching. Balancing caregiver and client needs were addressed, with a focus on sales and workforce management. Margaret also emphasized the importance of owner-operators in maintaining personal relationships with clients. Marketing support, business coaching, and networking opportunities were addressed as important commitments to franchisee success.
2024 Successes and 2025 Initiatives
Margaret Haynes starts out addressing the successes of 2024, which she equates to a very healthy year. The number of caregivers, working hours, and clients served were up. The growth of the franchise network added 37 new territories, which was 13 over the goal of 24. In 2024, the CRM system was introduced and will be a key element that franchisees will use to help automate some of their day-to-day tasks. Margaret noted that they were keeping a pulse on AI and ways in which that will help drive growth. In 2024, they started using AI in some core operational technologies to help with caregiver and client matching. In 2025, she will be excited to see how they will continue to build out these tools to enhance each franchisee’s ability to grow their businesses locally.
2024 Challenges and 2025 Solutions
Key challenges faced in 2024 was caregiver shortage. and how it will be addressed in 2025. Margaret notes there is a shift in the caregiver shortage to a more balanced need for both caregivers and clients. The impact of the pandemic on referral sources and the focus on the sales process was also noted as a challenge in 2024. In 2025, Right at Home will introduce new talent on the corporate side to lead the sales focus. A sales program where we help our franchisees learn, understand, and train their salespeople. Also, 2025 will provide new technology to help us when the caregiver isn’t there to provide that holistic view.
The Importance of being an Owner/Operator Business
Right at Home is an owner/operator business model, and that is important because Right at Home provides a very personal service. Margaret notes that we go into a client’s home, and may work alongside the client’s family. People want to do business with individuals they trust and can build a relationship with. Our active owners can set the tone and culture with the community to say we are here to help you age gracefully. Clients want a company passionate about seniors, providing people with jobs with significance, and caring for their clients.
Marketing to Grow Your Business
Margaret talks about how Right at Home will help you market your business right out of the gate, setting up a personalized website and providing a week-long training session in Omaha. We provide an initial packet of marketing materials. Right at Home Corporate has an entire team focused on helping franchisees be successful in marketing their business. As a company, we have a brand fund managed by the Strategic Leadership Council, which is made up of franchise owners who work with the Chief Marketing Officer. We can provide guidance to local offices on what works and what doesn’t. By joining a franchise network, you get access to all our subject matter experts in HR, scheduling, accounting, marketing, etc., who can answer your questions or help solve an issue. Our business coaches focus on the skills you may need help with. At the end of the day, we want to help you build a sustainable, profitable business.
Networking Opportunities
Networking starts with the discovery process, working with the development team, and validation calls with other owners. Once you have purchased your business, introductions will be made through your business coach to your neighboring owners. Weekly there is a Zoom call on specific subjects, best practices are shared, owners collaborate, and franchise owners are spotlighted. Right at Home hosts an annual convention and performance groups to join.
Private Equity Owned
Right at Home is owned by IMC, Investors Management Corporation, based in Raleigh, NC. Margaret notes that IMC wants her team to think long-term. They aren’t looking for a short-term turn. They simply want to touch as many lives as possible. They’re all about people and having an incredible impact on the communities where their businesses operate. They’re in for the long haul.
Final Thoughts
If you want to be in business for yourself, are passionate about helping people age gracefully, and want to have a positive impact on your community, Margaret can’t think of a better industry or brand to provide senior care and support adults with disabilities than Right at Home.
NEXT SCHEDULED TALK:
February 18 – 2 pm CST
Marketing Your Business with Right at Home – Dawn Drazdys, Chief Marketing Officer, and Jen Chaney, VP of Franchise Development
Watch the previous Executive Update about Caregiver Recruitment and Retention with Jessica Schultz.
If you are interested in becoming a member of the Right at Home family, submit the form below.
#Franchising #Leadership #SuccessWithSignificance