The Franchise Insiders "Inside Scoop" Podcast
Jack and Jill Johnson are two of the most experienced franchise experts in the industry, and their podcast The Inside Scoop is a must-listen for anyone considering investing in a franchise. Here are five reasons why:1. Jack and Jill have over 20 years of experience in the franchise industry. 2. They sell franchises, so they know which ones are actually making money. 3. They're not afraid to tell it like it is - you won't find any boring interviews on this podcast. 4. Every episode is jam-packed with financials and data that you can use to make an informed decision about which franchise is right for you. 5. Their insights and observations about the franchise industry are incredibly valuable - you won't find anything else like it out there. If you're thinking about investing in a franchise, make sure to add The Inside Scoop podcast to your must-listen list.
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The Franchise Insiders "Inside Scoop" Podcast
Franchise You Need To Know About: ComForCare Home Care
Pound for pound senior care may still be the best franchise investment.
Learn how ComForCare Home Care franchise owners provide non-medical to the exploding market of seniors over the age 65, as well as assistance in the activities of daily living including both companion care and hands-on personal care services. ComForCare members provide much needed services that support independence, dignity and quality of life while also contributing to their communities.
ComForCare offers a scalable business model with unlimited earning potential. ComForCare advantages include multiple revenue streams, large exclusive territories, and extensive training & support from the franchisor.
ComForCare franchise owners invest in a turn-key operations system allowing them the opportunity to build a big business.
As the senior population continues to rise, the demand for home care services is skyrocketing, and Jack breaks down how Comfort Care is perfectly positioned to meet this growing need.
Get ready to gain valuable financial insights into what it takes to invest in a Comfort Care franchise, with initial costs ranging from $73,000 to $164,000. Jack passionately explains why having a professional office space is crucial for credibility and operational efficiency, and he argues that home care businesses are among the best opportunities in franchising. With impressive average gross sales and a scalable royalty structure, if you're considering venturing into owning your own business, this episode is packed with reasons why Comfor Care might be the perfect franchise for you.
Text: 305-710-0050
Hi everyone, jack Johnson here with your Inside Franchise Scoop for Tuesday, November 12, 2024. I've got a great franchise for you guys. Today we're going to talk about Comfort Care, home Care Now. For those of you that know me, you know my story. I used to work in the home care space. That's what Comfort Care is.
Speaker 1:Some people refer to it as non-medical senior care, in-home care, sometimes just for short, we call it home care. What is home care? Well, home care is a business that provides caregivers, who are typically certified nursing assistants and home health aides, into the home of seniors who wish to stay home. So let's say you've got mom. She's 80 years old, she's struggling with cognitive decline, dementia, that type of thing. Family doesn't want to put her in memory care. They want to keep her home. Mom wants to be home. It's easier on everyone. This is where you hire an in-home caregiver to provide companionship to mom so she can be safe. She can be you know, well taken care of because, let's face it, you know families. These days, we have businesses, we have jobs. It's hard for us to become caregivers for our parents and, to be honest with you, it's probably better for your relationship with your parents that you don't become a caregiver, and so that's where a company like Comfort Care can really help families, because they provide non-medical care, primarily to the exploding market of seniors over the age of 65. Your core client here is 80 years old as well as assistance in the activities of daily living, including both companion care and hands-on personal care, services that support independence, dignity and quality of life, while also contributing to their communities.
Speaker 1:For the business owner, for you guys, why should you think about this type of business? Right, I get it. When you first hear about a home care business, it's not very exciting. Well, I'm going to tell you something Aging is something that happens to all of us, and, pound for pound, if you look at what it costs to build a home care business in the case of Comfort Care, they say it's $73,000 total investment to $164,000 total investment, including a franchise fee of $59,000 and a royalty that scales from five to 7%. They want you to have a net worth of $350,000. Okay, if you know me, if you listen to my podcast, you know I'm going to say air towards the higher number 163,925. That's what I want to have in my pocket when I go to write that check for the franchise fee. And again, don't be surprised if, a year later, you have to put a little bit more into the business. You always want to be prepared.
Speaker 1:Okay, so pound for pound home care businesses like this. This is not a care home that you're buying. You are running this business. You are hiring caregivers and placing them in the homes of these clients. This is not a home-based business.
Speaker 1:You want to have an office. Why would you want to have an office? Well, think of it like this If you're looking for a business for your aging loved one or for a caregiving business, which one are you going to feel more comfortable about working with? The one that has the office next to the wealth manager that you know, or the person that's running their business from home? So it sends a much better message. If you own a home care company and you have an office for yourself and you have a nice executive office, then you have in your sort of main, you know area. When you come into the office, you have a desk where you would put someone who is called a scheduler, who is in charge of sort of coordinating your caregivers scheduling the care for your clients.
Speaker 1:Pound for pound home care businesses, in my opinion, are the best in franchising, honestly. And what do I mean by pound for pound? Well, if I've got 160,000 in my pocket, I don't know that there's a better a business with upside than home care. Well, what do I mean by that? Well, Comfort Care shows in their item 19 gross sales earned by their average franchisees of 1.6, 1.6800. So let's call it 1.6 and change with an investment that starts at 73K and let's call it 1.64. That's an average folks.
Speaker 1:Now, if you compare that to other and, by the way, for those of you that are in registration States like California, new York, this franchise may not be available for you. So you'll want to check. This is not an advertisement for comfort care. If you're in, definitely whatever state you're in, text me at 305-710-0050 to find out if this franchise is in fact available in your state. Likely it's not in New York. I'm not sure about the other registration states, but you want to make sure you check with me if you're interested in Comfort Care, in some cases outside of the state of New York, in most cases we should be able to find you a good home care company like Comfort Care. So here's the deal. Again, if we look at the average investment and you could look at this. We could call on your behalf all the senior care companies. Right, we could look at senior helpers First Light Home Care, home Helpers, griswold Care, amada Care All of their item 19s are pretty darn consistent. That's what's so cool about home care.
Speaker 1:Here's what they say are the top five reasons to own a home care business. One you get to make a difference. Few business opportunities provide the level of personal satisfaction and fulfillment that comes with owning a senior home care franchise. You get to positively impact the lives of older adults and their families. So, for those of you that have been in corporate America your whole career, you want something more fulfilling. This is a great business. Here's the other reason Home care is recession-proof. We all are aging, so whoever wins well, we know who won the White House, but whoever's in the White House, whatever's going on with the economy, if your mom has dementia, she needs help it's a recession-proof business.
Speaker 1:The senior care industry has proven to be recession-resistant Regardless of economic downturns. The need for quality care and support for seniors remains unwavering. That's a true statement. I was in home care in 2008 when all the housing crisis went down and it really did not affect our business in a major way. Comfort care will provide you with extensive training and support.
Speaker 1:So even if you have no clue about this type of business, some of the most successful franchisees that I've ever worked with in home care had no home care experience. They're committed to the success of franchise owners and they will teach you the business. In fact, I think they prefer to teach you the business from the ground up. They have a proven business model. Comfort Care has been in business since 1996 and franchising since 2001. This is a proven, proven, proven franchise. They've got a blueprint for success? Of course they do. They've got a proven business model. They're good folks.
Speaker 1:How many franchises does Comfort Care have? They have 259 franchise units out there. So they've been around again. Let's talk about Comfort Care Founded in 1996, franchised in 2001,. Total investment $164,000. They've got a great item 19 that shows average franchisees with tremendous revenue 259 units. They are available in Canada, they are available internationally. They have no company-owned units, they're all franchise.
Speaker 1:Average number of employees start with two, but again, the caregivers have to be full-time employees for this type of business. So, generally speaking, all these businesses, even like the business I own that washes windows in this type of business your biggest concern isn't revenue. The revenue will come. They've got the advertising and the marketing to help you do that. Managing employees If you have two caregivers for every one client on your roster, you're doing great. Here's another thing I know about the business If, once you get past your first few months, if you can average netting one new client a month, you're going to do a fabulous job growing your business. So if at the end of year one, you had 12 core clients meaning on your roster you are currently providing care to 12 clients You're in a fabulous spot. If, at the end of year two, you have 24 clients, you are doing great. That's really.
Speaker 1:It's a simple, simple business. When it comes down to it. It's not simple to operate. No business is simple to operate. You're going to have ups and downs, but with a comfort care. If you were to net one new client a month, you'd be in a great place.
Speaker 1:This is not a passive absentee business. This is a full-time business. It is not home-based, but that's okay because it's the kind of business that you could throw yourself into a hundred percent and you'd be glad you did, because it's going to make you feel good, it's going to provide a great service and you can build a really scalable business, which is tremendous. I mean, that's the dream, right? That's why we do it. So, again, as we talk about these businesses on a daily basis, comfort care is a great one to think about.
Speaker 1:If you'd like my help exploring comfort care, if you want to see how much we can save you with our cashback rebate program, we can save you $2,000 to $10,000 on Comfort Care. If you want to find out what that exact rebate is, you text me at 305-710-0050. For those of you that are more comfortable with a phone call, you can call me at 800-445-6382. Me at 800-445-6382. You can go to our website, thefranchiseinsiderscom. We have a calendar app. You can schedule a meeting and I'd love to talk to you about comfort care and the home care industry. It's really a great business.
Speaker 1:We're seeing a lot of demand for it right now, and what's great about home care is, even if there are a number of home care companies in your territory, there's always need for more, and it truly is in my mind and this is me personally I work with a lot of great franchises. If I only had one, if I was down to my last, you know 170K and I could only buy one business me personally, I think I'm going home care. So if you'd like my help exploring the home care franchises, like Comfort Care, that are available in your territory, let's get started. Let's start today. Text me at 305-710-0050. But for today, that's it on Comfort Care. I'm Jack Johnson. Thanks for tuning in to the Inside Scoop and we'll talk to you next time. Take care.