Do You Need a ‘Partner’ to Start a Home Care Franchise?
Perhaps you’ve been kicking around the idea of owning a home care franchise for a while. Maybe throughout 2017 you contemplated this, wrote down a long list of pros and cons, and are entering the New Year with some anticipation, hope, and trepidation. You know this would be a great option for your career, but what you may be confused about is whether or not it’s better to have somebody supporting you, as a partner, so to speak.
Do you really need a partner?
One of the main questions to ask initially is why you would even consider a partner in this endeavor. Would it be your spouse? Could it be one of your best friends? Could it be somebody you worked with in the past, ideally in a home care environment?
You need to understand that personal relationships are not reason enough to go into partnership with somebody else; they need to have a true and dedicated passion for the type of work your business endeavor will focus on.
Can you do this alone?
Some people look for partners in various business enterprises because of financial resources. They might not have the money available, at least in the short term, to purchase a business franchise. When it comes to the home care sector, this is the number one job creator in the country and is expected to remain that way for at least the next 10 or 15 years. That’s because demand continues to increase as the Baby Boomer generation retires and more men and women prefer to remain at home, even when facing some difficult circumstances and health issues in life.
If you don’t have the financial resources to begin a home care franchise right away, that doesn’t mean you have to take on a partner. You may have family and friends, financial institutions, and other resources to borrow the money or take out a loan, but taking on a partner means somebody else will have just as much authority to make decisions for your business.
Which would you prefer?
The key to ask yourself initially is how much control you would want over this new business endeavor. Do you want to maintain complete control, adhering to the franchise rules and regulations or do you want somebody else to help you make difficult business decisions in time?
You don’t need to have a partner to start and own a home care franchise. That doesn’t mean it’s not a good asset. Every person is different and it may be prudent or more practical for some to rely on partnerships with friends, family, or others they’ve worked with in the past, but for some, sole ownership may be the better choice moving ahead.
If you have questions about franchise opportunities with Golden Heart Senior Care Franchise, please contact our office at 1-800-601-2792 , or check out our form at https://goldenheartfranchise.com/apply-now/.