ComForCare Residence Care is a distinguished franchise specializing in non-medical, in-home help for seniors and people with disabilities. Established in 1996 in Michigan, it has expanded considerably over time, positioning itself as a frontrunner within the senior care sector.
Headquartered in Bloomfield Hills, Michigan, the model began franchising in 2001 and has since developed a robust presence within the business.
ComForCare offers a broad spectrum of companies, together with assist with every day duties, remedy reminders, and specialised dementia care by way of its DementiaWise® program.
A key differentiator is the Joyful Recollections® initiative, which contains music to boost the well-being of people with dementia. These revolutionary care applications have contributed to ComForCare’s robust popularity for delivering compassionate and high-quality companies, incomes it business recognition.
Preliminary Funding
How a lot does it value to begin a ComForCare Residence Care franchise? It prices on common between $73,000 – $164,000 to begin a ComForCare Residence Care franchised heart.
This contains bills for staffing, licensing, preliminary advertising, and operational setup. The overall funding varies primarily based on a number of components, such because the territory dimension, native rules, and whether or not the franchisee opts to lease or buy workplace house.
| Sort of Expenditure | Quantity |
|---|---|
| Preliminary Franchise Payment | $29,500 – $59,000 |
| Journey Bills for Coaching | $0 – $7,800 |
| Actual Property & Associated Bills – 3 months | $2,250 – $3,400 |
| Workplace Tools | $2,300 – $6,800 |
| Laptop Methods – 3 Months | $3,000 – $5,000 |
| Indicators | $100 – $575 |
| Miscellaneous Opening Prices | $1,200 – $5,600 |
| Licensing Charges | $0 – $6,000 |
| Accreditation Charges | $0 – $10,000 |
| Insurance coverage – 3 months | $1,875 – $3,650 |
| Workplace Provides | $1,000 – $2,350 |
| Native Advertising and marketing – 3 Months | $6,000 |
| Recruiting Bills – 3 Months | $2,250 |
| Further Funds – 3-6 Months | $23,500 – $45,500 |
| Complete | $72,975 – $163,925 |
Common Income (AUV)
How a lot income are you able to make with a ComForCare Residence Care franchise? A ComForCare Residence Care franchised location makes on common $754,000 in income (AUV) per 12 months.
Right here is the extract from the Franchise Disclosure Doc:
This compares to $784,000 yearly income for comparable in-home care franchises. Beneath are just a few ComForCare Residence Care rivals as a comparability:
Franchise Disclosure Doc
Often Requested Questions
What number of ComForCare Residence Care places are there?
As of the most recent information, ComForCare Residence Care operates roughly 190 places throughout the US. Moreover, the corporate has a presence in Canada, bringing the overall variety of places to over 250. Nearly all of these places are franchise-owned, with just a few being company-owned.
What’s the complete funding required to open a ComForCare Residence Care franchise?
The overall funding required to open a ComForCare Residence Care franchise ranges from $73,000 to $164,000.
What are the continued charges for a ComForCare Residence Care franchise?
ComForCare Residence Care franchisees pay a 5% royalty price on product sales, with a required minimal. In addition they contribute 1% of product sales bi-weekly for basic advertising and one other 1% for nationwide promoting. Moreover, franchisees should allocate 2% of product sales to native advertising efforts.
What are the monetary necessities to develop into a ComForCare Residence Care franchisee?
To develop into a ComForCare Residence Care franchisee, candidates are typically anticipated to have a minimal web value of $350,000 and liquid capital of no less than $50,000. The preliminary franchise price ranges from $29,500 to $59,000, relying on the territory dimension and demographics.
How a lot can a ComForCare Residence Care franchise proprietor anticipate to earn?
The common product sales for a ComForCare Residence Care franchise are roughly $0.75 million per location. Assuming a 15% working revenue margin, $0.75 million yearly income may end up in $113,000 Ebitda yearly.
Who owns ComForCare Residence Care?
ComForCare Residence Care franchise is owned by Greatest Life Manufacturersa multi-brand franchising firm specializing in senior care and wellness companies. Greatest Life Manufacturers acquired ComForCare in 2017 to develop its portfolio of healthcare-focused companies, which additionally contains manufacturers like At Your Aspect Residence Care and CarePatrol.
Disclaimer
Disclaimer: This content material has been made for informational and academic functions solely. We don’t make any illustration or warranties with respect to the accuracy, applicability, health, or completeness of the knowledge offered within the article. You shouldn’t construe any such info or different materials as authorized, tax, funding, monetary, or different skilled recommendation. Nothing contained in this text constitutes a solicitation, advice, endorsement, commercial, or provide to purchase or promote any franchises, securities, or different monetary devices on this or in every other jurisdiction by which such solicitation or provide can be illegal beneath the franchise and/or securities legal guidelines of such jurisdiction.
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