Q: How soon to profitability?

A:  There is no single answer, as each territory is unique and each owner brings different skills, teams and capital to the task.  Area Representatives, or Field Support Office staff, will work with new owners on office set up and structure, P & L planning and tracking, business generation and most everything else associated with establishing the business, generating revenue and creating profit.

In the end, the timeline is a function of many things including the new owner’s own goals, drive, networking and leadership skills.

We have a goal of generating revenue within 90 days of formal classroom training, and have surpassed that goal with our new, local owners in 2014.  Our local ‘pre-heating’ strategy has proven effective in generating the connections and contacts helpful in jump-starting a territory.

Slide3The best way to gather information on that question is through reviewing the Franchise Disclosure Document (FDD) and speaking with franchise owners during the Validation phase of the structured due diligence process.

 

As always, we look forward to the opportunity to discuss the details with you.

Q: If the business is so good, why are territories still available?

Business Ownership Opportunity

Ask us how you can create your future with Always Best Care in Tampa Bay.

A:  This is an excellent question with many facets: demographics, the award process, the economy, … . ; as does the answer!

It takes a special set of skills, capabilities, motivations and funds to start a Home Health Agency in the state of Florida.  We “award” territories to individuals; it is not just a sales transaction.  We get to know the potential new owners, just as they dive into their due diligence on us.  If someone is looking just to make quick and easy money with little connection with the clients, then this is not the business or industry for them.

When economic times are tough, the funds available for this investment may not be available to some; when times are good, there may not be motivation to leave a steadily paying job, no matter how unsatisfactory that environment is..

Locally, we seek talented individuals with “Fire and Heart,” the desire to grow a business coupled with the compassion to care for people in need.  The combination may be exhibited by an evolving career coupled with a history of giving back to the community,  This is a rare combination, but one that should provide the basis for a successful senior care business.  We have spoken with individuals that have one, or the other, but few who have had both.

We will continue to look for these unique individuals so we can assemble the best possible team.  We welcome the opportunity to discuss this balance of “Fire and Heart.”

Q: Will anyone be available to help obtain clients during start-up?

A:  Absolutely!  Our local, Tampa Bay-area “pre-heating” strategy has proven effective in shortening the time between joining the company and booking the first client.  Our newest owner landed a placement opportunity during the first day of Field Training – talk about learn by doing!biz lunch

As mentioned in previous posts, your Tampa-based AR team has been involved in, and networking throughout, the local community for years.  One of the first steps we take with new owners is introductions to our networking contacts and the community partners already established in their territory.

We welcome the opportunity to explain this owner success strategy in more detail!

Q: How will clients be obtained?

diverse_franchisee_group

A:  Ours is a referral-based business, supported by additional, traditional marketing methods.  Networking plays a big role in building a diverse base of referral sources, as does marketing directly to local hospitals and skilled nursing facilities.  Social media is utilized, as well, to find the right mix that works for the specific territory.

We welcome the opportunity to discuss the details and your specific questions.

Caveat Emptor (Latin for “Watch your wallet!”)

In all seriousness, “Buyer beware” is excellent advice when considering any major purchase or investment – including the decision to buy a business or invest in a franchise.

Some free, unbiased advice:

  • Look at two, preferably three, options so you have something to compare and contrast
  • Consider all the facts, figures and disclosures in total.
  • Study the Franchise Disclosure Documents (FDDs) for franchise comparisons
    • FDDs are mandated by the Federal Trade Commission – this is serious business.

Case in point50142_add_scale_lg

If Franchisor X offers a fully developed, turn-key operation with local support for a $45,000 franchise fee, how does that compare with Franchisor Y who has a $35,000 franchise fee but requires a list of additional costs and obligations which brings their total to the same, if not more, than Franchisor X?

The only way to know is to dive into the FDD (Items 5. 6 and particularly Item 7) and compare the total cost of ownership.

To paraphrase the Capital One ads. “What’s in your FDD?”

Best wishes in your search for a franchise opportunity that brings you personal and financial success.

Q: What training is available?

success-compass

A:  New owners will do a substantial amount of internet- and webinar-based pre-training,’ before attending seven days of classroom training at company headquarters.  Soon after, the owners will have at least three days of ‘field training’ with their local Area Representative, or field trainer.  Additional mentoring and coaching is provided as needed on an on-going basis.  Bi-Annual international conferences, annual regional meetings and regular Area gatherings also provide an opportunity for sharing best practices and learn from industry experts.

Q: What support will Always Best Care (ABC) be able to offer at start-up and during operations?

A:  Each owner is unique and brings his/her/their own talents, but Always Best Care (ABC) provides an array of training, national and local support to help optimize operations.

In regions that have an Area Representative (AR) that support will be relatively close (in state, or even in town).  Where no AR is present, support is provided by regional field trainers and/or Field Support Office personnel.

fancy compass 14Locally, around Tampa Bay, we help with Pre-training and provide Field Training; we provide access to our network of local industry relationships with both referral sources and community partners.  On an on-going basis, we will provide help with strategic planning, marketing, P & L and operations.  Our unique “pre-heating” strategy has proven to be successful, too!

In addition, there is an array of award-winning marketing materials and programs to help get the word out.  Field Support Office (FSO) personnel can help with technical issues, as well as national programs and strategic direction.

There is no way to convey the breadth and depth of support in just a few paragraphs.  We welcome the opportunity to discuss these issues during Discovery and Validation.