Executive Update with Margaret Haynes | 8.7.23

Duration: 31m 37s

Description:

Right at Home’s Jen Chaney, VP of Franchise Development, talks with Margaret Haynes, CEO & President, and provides an Executive Update about the franchise system as a whole, its growth, and organizational structure for the Third Quarter of 2023.

Strategic Planning

2023 has been really good for the network. The Franchise network is growing both in footprint, as well as hours of care in local markets. Right at Home is just on the cusp of this huge need for the types of services we provide. After each year, we look back and look in terms of what we thought needed to happen, did we hit our goals and objectives. We want to make sure our strategy is driving our budget and review what we learned from the previous year. We ask ourselves if our trajectory changed. Our franchise network and Strategic Leadership Council provide feedback on what’s happening at the local level. Haynes talks with other CEOs in the industry and industry associations to get their thoughts. We ultimately need to be in alignment and understand where we are going as a brand so we can continue to move forward in the industry of home care.

What Sets Right at Home Apart from its Competitors?

Right at Home and its competitors may all be providing in-home care but, it isn’t apples-to-apples. It comes down to the experience that’s created. It is how Right at Home approaches things, and how we support and help our franchise owners build sustainable, profitable businesses that allow the Right at Home mission to be lived out across the US and the globe. Right at Home is very passionate about its mission to improve the quality of life for those we serve. That starts from the moment a prospective franchisee engages with the brand until the moment they decide to retire. Haynes notes she doesn’t see that replicated across other franchising networks. Right at Home helps owners create a focus in their local market. That, in turn, creates an environment where the caregivers and office staff want to work for them.

Biggest Change in the Industry in the Next Two Years

Haynes believes that the availability of caregivers will be the biggest change in the next two years. This is based on the aging population in the US. There will be far more people looking for our services than we’ll have caregivers to provide those services. We will need to be innovative in our business model in finding other items than the per-hour approach. Thinking about how we can bundle items that allow someone to stay safe in the home and give peace of mind but isn’t just dependent on a caregiver. Technology will play a large part over the next few years.

The Importance of Franchisee Involvement in Strategy

Margaret notes that it is critical to have a really good relationship and create lines of communication both ways with the franchise owners. They are in the market every day, 24/7, 365. Some of the best ideas come from our franchise owners, as we are continually wanting to make things better… for our clients, our franchisees, and their staffs. It is also one of the main reasons why you would join a franchise network is to have the entire support network around you. Our Strategic Leadership Council is made up of franchise owners elected by their regions and appointed. Many times they are helping adjust our strategy because they have an immediate feedback channel. Ultimately, at the end of the day, we want everyone to be successful.

Strategic Leadership Council (SLC)

The SLC gets together a minimum of at least two times a year in person, as well as quarterly webinars. There are also special task forces within the SLC that meet on a very regular basis. Also, the core operations team has calls with the SLC chairs every two weeks to discuss what’s moving forward.

What Motivates you as President/CEO of Right at Home?

Haynes says she has viewed her role as supporting everyone in the corporate office and the franchise network. I think daily about what can we do to break down barriers, how can we continue to grow as a brand, and how can we support our growth and live out our mission. Haynes adds that approximately six years ago, she needed to use the services of the local Right at Home. She said, “There are not enough words to describe the impact that Right at Home had on me, my sisters, my dad, and my mom.” Right at Home allowed her to uphold her mother’s wishes, and give her the support she needed until the end of her life. Right at Home touches lives.

Advice for Brand New Franchise Owners

Haynes wanted to provide some advice for prospective franchisees and new owners.  She comments that when you are getting ready to open your doors, take a deep breath and know that you’re not alone. You were taught the basics, lean into your business coach, and remember your onboarding class. Right at Home has been doing this for 23 years, and we can help you get through the opening. Attend our annual meeting and you’ll walk away with a handful of nuggets to take to your staff or caregivers. Stay involved regardless of your tenure with the network.

Owner Training

Franchisees start with the basic training, call RightStart training.  This is required.  There are additional opportunities for owners to get additional training throughout their lifecycle.  Within the first year, owners are asked to complete the Profit Mastery program.  It is a course on knowing the numbers in your business in an easy-to-understand way.  There are also performance groups you can belong to after one year.  We bring educational opportunities along your journey so that you’re ready to take the next step.  We’ll also help you scale your business as you start to grow as a brand in your local community.

Different Levels of Service

Right at Home provides in-home care and assistance for seniors and adults with disabilities.  Those services include Personal Care, Companion Care, and Specialized Nursing Services. Less than 10% receive specialized nursing services.  The majority of the network, about 95% is made of personal care.  We also provide companionship care, which is hands-off support such as grocery shopping, cooking, and things like light housekeeping.  Personal Care, hands-on care, includes bathing and showering, medication reminders and vitals, dressing, and feeding.  Specialized nursing care is such a small percentage because our payer sources are family-funded or private pay.  

NEXT SCHEDULED TALK: 

August 22, 2023 at 2 pm CDT

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Executive Update with Right at Home

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