- Franchise 500 Rank
-
N/R Not ranked last year
- Initial investment
-
$69K - $97K
- Units as of 2020
-
24 17% over 3 years
Golden Heart Senior Care is an at-home companion care, home help, and personal care service for the elderly. Golden Heart Senior Care was founded in 2009. The following year, as demand rose, it began offering franchise opportunities. For those seniors who have reached a point where they can no longer live alone, Golden Heart Senior Care offers an assisted living placement service, as well.
Since beginning to franchise, Golden Heart Senior Care has opened over 20 franchises in the United States.
Why You May Want To Start a Golden Heart Senior Care Franchise
A Golden Heart Senior Care usually allows for absentee ownership, so a franchisee can hire someone else to work for them. If you are planning to be a hands-on franchisee, you will need to be caring, compassionate, friendly, and interested in the life stories of those under your care.
Because of the presence of potential absentee ownership, you don't necessarily need experience in the health or senior care field. However, prior experience in health or elderly care certainly wouldn't hurt. Golden Heart Senior Care typically offers its franchisees a comprehensive training program and complete support that covers the job recruitment process to intaking new clients. Franchisees will also need to undergo a thorough background check.
What Might Make a Golden Heart Senior Care Franchise a Good Choice?
A Golden Heart Senior Care franchisee will likely become an important part of their client's life and should be prepared to uphold the professional values that the company maintains. Franchisees should expect to provide a friendly, cheerful, and capable service, whether behind the scenes or as an administrator of care, on the daily.
You should also prepare to be on call at any time, day or night. Each client has different needs and you are expected to deliver quality care with each interaction.
To be part of the Golden Heart Senior Care franchise team, you should make sure you're financially ready for an initial investment made up of a franchise fee and other startup costs. In addition, you should prepare yourself for ongoing fees that will include advertising, royalty, and potential renewal fees. Franchisees will also need to meet the company's set net worth and liquid capital requirements.
How To Open a Golden Heart Senior Care Franchise
Before making any financial commitment or signing an agreement, you must perform your due diligence. After taking character and job requirements, both as an absentee and fully-involved owner, into consideration, you should look at your local market and see if any other senior care services would be in direct competition with your franchise. Some competition is healthy, but too much could impact franchise growth.
As part of your due diligence, you may want to speak to existing franchisees and ask the Golden Heart Senior Care franchising team questions. For example, you may want to ask existing franchisees what the more challenging aspects of the job are and how they properly take care of clients while respecting the wishes of family and significant others.
With the backing of the brand and what may be an already good reputation in the market, you may be good as gold in a Golden Heart Senior Care franchise.
Company Overview
About Golden Heart Senior Care
| Industry | Personal-Care Businesses |
|---|---|
| Related Categories | Senior Care |
| Founded | 2009 |
| Parent Company | Sarillian Management LLC |
| Leadership | Craig Bass, President |
| Corporate Address |
7460 Warren Pkwy., #100 Frisco, TX 75034 |
| Social | Facebook, Twitter, LinkedIn |
Business Overview
| Franchising Since | 2010 (14 years) |
|---|---|
| # of employees at HQ | 5 |
| Where seeking |
This company is offering new franchises throughout the US. |
| # of Units | 24 (as of 2020) |
|
|
|
Information for Franchisees
Here's what you need to know if you're interested in opening a Golden Heart Senior Care franchise.
Financial Requirements & Ongoing Fees
Here's what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.
|
Initial Franchise Fee
|
$45,000 |
|---|---|
|
Initial Investment
|
$68,925 - $96,750 |
|
Net Worth Requirement
|
$150,000 |
|
Cash Requirement
|
$100,000 |
|
Veteran Incentives
|
10% off franchise fee |
|
Royalty Fee
|
5% |
|
Ad Royalty Fee
|
2% |
|
Term of Agreement
|
10 years |
| Is franchise term renewable? | Yes |
Financing Options
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
| Third Party Financing | Golden Heart Senior Care has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, payroll |
|---|
Training & Support Offered
Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.
| Classroom Training | 44 hours |
|---|---|
| Ongoing Support |
Toll-Free Line
Online Support
Security & Safety Procedures
Field Operations
Proprietary Software
Franchisee Intranet Platform
|
| Marketing Support |
Co-op Advertising
Ad Templates
Regional Advertising
Social Media
SEO
Website Development
|
Operations
Additional details about running this franchise.
| Is absentee ownership allowed? | Yes |
|---|---|
|
Can this franchise be run from home/mobile unit?
|
Yes |
|
Can this franchise be run part time?
|
No |
| # of employees required to run | 1 |
|
Are exclusive territories available?
|
Yes |
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