The Money Side

A financial overview of starting a HomeCaring franchise

Your Investment

Your initial investment depends on which location interests you and how quickly you can acquire new clients. It consists of:

  • an initial franchise fee
  • the cost of an initial training program
  • the costs of obtaining necessary licences
  • potentially other items such as field supplies for your carers, signage, IT software, phones, internet connection, marketing material and insurance pre-payments
  • office fitout (when required) – while we do not require you to establish an office immediately, eventually you will have to fund rent in advance and a rental bond.

You will also need to factor in the costs of obtaining legal, accounting or business advice, and the amount of working capital required while the business gets to a break-even situation.

A complete breakdown of these costs will be made available at a later stage of the enquiry process. However, we estimate the total investment – including all the above – to be between $160,000 and $240,000.

PARTNERSHIP OPPORTUNITY

HomeCaring is offering a partnership franchise to selected applicants on a 50/50 basis. The benefits are:

  • A reduced investment amount –If you take advantage of this opportunity, your initial investment for the partnership franchise will be between $80,000 and $120,000.
  • A regular income – you will be paid a salary from the partnership franchise, removing the worry of having enough income to meet your personal financial requirements
  • an ongoing share of the profits and growth in the value of the business

PROFITABILITY

Your potential return will depend on whether you can fund the business yourself, or whether you will need finance.

As part of the recruitment process, you will be provided a template for a Financial Plan which we will go through together in detail. You should also use this plan with your professional adviser/s, so that they can see how the business model works.

How the Financial Plan works

The Plan incorporates the income streams available to a franchisee with the ongoing costs of supporting clients with home carers. We understand that as a new franchisee, it will take time to grow the business from day 1, so a ramp up scenario is included.

The plan also includes the ability to:

  • look at the growth figures you could achieve and see what could happen over a 5-year period
  • forecast what your expenses may be. For rental costs, it may not be necessary to open an office immediately but after an appropriate time – when you start to employ other people to help operate the business.
  • determine the number of support staff required depending on the growth of the business, which will ensure you have sufficient people to offer the highest quality service to clients
  • see full details of the earnings of the business for a 5-year period and the possible Return on Investment
  • See the possible future value of the business if you decided to sell your shareholding

We will give you information about the performance of existing franchises, so you have a guide for completing your Financial Plan.

NEXT STEPS

Browse through the other pages on this web site and if you are interested in getting more information, please complete the enquiry form on the Contact Us page.