Establishing a new business can be nerve-racking, to say the least. When you’re considering a home care franchise, you’ll likely already have great compassion and a strong desire to help those in need. Elderly and disabled individuals will be your client base and throughout your community there’s a growing need (or demand) for these types of services.
Making a commitment like this is not something you’ll do in a hurry; you will work this out and determine the best franchise company to rely on. Even when you have the best home care franchise available, those first months could feel like walking in a minefield, especially if you have limited experience running your own business.
What to Expect
No matter what type of business you operate, most owners, managers, and leaders will tell you to expect the unexpected, especially during those first weeks. While a quality home care franchise company will offer you valuable support, resources, and information to help you maximize your chances of success, not everything is going to go according to plan.
That’s because when you have people working for you, a lot of things can happen you don’t expect. You may hire a team of caregivers and even some administrative support, but you don’t know about their reliability, their experience, their willingness to learn, or even their ability to adhere to your specific rules and expectations.
Expect challenges, sick time, and having to scramble to find replacement caregivers for those who leave, call in sick, or have other challenges.
Perhaps you have in mind this idea you’ll grow your business and be able to get your weekends off like you had when working for somebody else. During the first couple of months, you will likely be working long hours, including weekend days.
As long as you run this business efficiently and effectively, you won’t have to do this forever. Just during the first couple of months the workload on your shoulders will be more significant.
Purchasing a home care franchise is a wonderful opportunity, but it’s important that you realize you will have to lay out payroll and other expenses from your own personal savings during those first couple of months.
That’s because you have to find clients, hire caregivers and other support staff, provide services, and then bill for those services. It could take several weeks or a couple of months before the accounts receivables catch up.
This is only temporary, but it’s important to have enough savings in reserve to make payroll, pay for lease on your building, and other related expenses. Once you get past the first couple of months, things will calm down, smooth out, and you’ll realize why this was a great decision to purchase a home care franchise from a quality company.
If you have questions about buying a franchise 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/.