Caring Transitions Franchise
Are you looking to start a franchise business to get your entrepreneurial endeavors going? Caring Transitions offers an excellent franchise opportunity for many would-be managers and entrepreneurs.
In a nutshell, Caring Transitions is a "senior relocation" business franchisor that assists with various needs and services for America's senior citizens. These include relocating seniors into new homes, helping seniors downsize by selling and liquidating assets and helping senior citizens get the health care or live-in care they need.
Since people over 65 are becoming more common and forming a larger cohort in America’s population, senior relocation services will likely only become more necessary as time goes on.
With a Caring Transitions franchise, you can simultaneously jump into this growing industry and be your own boss. Keep reading to learn what it takes and why starting a Caring Transitions franchise may be the right business opportunity for you.
Reasons to start a Caring Transitions franchise
When you start a Caring Transitions franchise, you’ll work to help senior citizens relocate, downsize or otherwise adjust their lives as they get older and take on new challenges. The market is particularly suitable for growth.
The senior market should grow to encompass approximately 20% of the population by 2030. This is due to a combination of factors; for example, people live longer now because of better health care and improved medicines.
However, many of these senior citizens cannot remain in their homes as they age. They need help with healthcare. They may not want to live in a house with difficult stairs or may not want to pay for empty spaces they don’t need. Because of this, many senior citizens will likely require assistance transitioning into a smaller or elder home.
Caring Transitions and similar companies help seniors and their loved ones with total solutions for senior relocation, estate sales, downsizing and decluttering. If that all sounds interesting, this could be a strategic franchising industry to jump into.
But why Caring Transitions specifically? Caring Transitions is a popular senior relocation company for a variety of reasons. You should consider franchising with Caring Transitions because:
- Caring Transitions has an extensive brand name and an excellent reputation. This can help you get clients and referrals, particularly in the earliest days of your franchising career.
- Caring Transitions offers training and proven methodologies that are effective with many senior clients and in many communities. Therefore, your projects may be much more successful.
- Working with Caring Transitions means deciding who to hire and how to manage your team. Caring Transitions offers franchise owners much control and administrative flexibility compared to other franchising companies.
- Caring Transitions gives franchise owners access to top-tier technology to assist with their operations. These include CT Bids, which generates millions of dollars in online auction sales, CT Accelerator, an estimating software to help you estimate relocation and downsizing project costs and FranSky, an easy-to-use and customized CRM software that helps owners keep track of customers and projects, plus handle things like automated email campaigns.
- The Winner’s Circle Program, in which franchise owners can earn back their franchise fees if they reach certain milestones in the first two years of business.
Simply put, if you want to work in the senior relocation or asset liquidations industry, there’s no partner better than Caring Transitions.
Caring Transitions franchise owners can open new businesses in states such as Alabama, Connecticut, Georgia, Iowa, Michigan, Maine, Minnesota, New York, North Carolina, South Carolina, Ohio, Oklahoma, Utah and Wisconsin.
Related: Giving Care to Elderly and Needy, At Home
How to open a Caring Transitions franchise
Opening a franchise with Caring Transitions involves providing the company with your initial franchise fee, proving that you have enough liquid cash to get the ball rolling and attending job training. The job training will include opportunities for you to hire employees with the assistance of the Caring Transitions corporate offices.
Once you’ve settled on a location and target market, Caring Transitions will help you set up an office or retail space if necessary.
To get started with the initial steps, check out Caring Transitions’ virtual brochure and speak to one of the franchise specialists for the company. They’ll explain this senior care business model and how the transition services work.
What will your territory look like?
Should you open a franchise with Caring Transitions, you’ll get access to an exclusive and protected territory delineated by postal codes. You won’t have to compete with other Caring Transitions franchisees over the same limited population base.
You’ll get an exclusive territory with a population of between 175,000 and 200,000 people for your initial franchise fee. You must pay another $500 for every 1000 people over 100,000 people in your area. Fortunately, there’s no limit on your territory's population, so you can continue to grow your franchise business if more people move into town.
Are you required to supervise your franchised business personally?
No, Caring Transitions does not require you to personally supervise your franchised Caring Transitions business. However, Caring Transitions recommends that you do so. Your business must be managed on the premises by a manager approved by Caring Transitions, and they have to have completed the training program. Therefore, it’s often easiest to simply supervise operations yourself.
Related: Elderly Employment Agency
Caring Transitions training and onboarding
Good franchising partners won’t force you to open your operations without guidance. Fortunately, Caring Transitions provide excellent training and onboarding support at its headquarters in Cincinnati.
Specifically, every owner gets access to comprehensive digital marketing tools and strategies to help them acquire new customers and maintain excellent long-term customer relationships throughout the relocation process.
On top of that, Caring Transitions provides all of its franchisees with training benefits and tools like:
- A customized website for your business based on its location and target audience.
- Social media marketing and advertising strategy training and support (a big boon if you don’t have a lot of marketing experience already).
- Market-specific collateral, which can be beneficial in some local markets.
- Localized search and SEO/search engine optimization campaigns to help drive website traffic.
- Support for a national PR and branding program.
When you start a franchise with Caring Transitions, you and your employees can access a comprehensive and on-site training program at the corporate offices. This is followed by a similarly comprehensive 90-day onboarding practice routine, which puts you in the perfect position to launch and succeed with your business.
Lastly, Caring Transitions provides all franchisees with ongoing business coach support to help drive long-term success.
Related: Examples of Elder Care Business Ideas
Caring Transitions franchise reviews
Many current and previous franchisees have glowing things to say about this franchise partner.
For example, Kendra Good is a franchisee in the Casper and Cheyenne, WA, areas. She says that her Caring Transitions business “brings me great joy because not only am I helping to lift the burden for my clients during stressful situations, but I’m also making good money doing something I love.”
Similarly, Jamie Salter is a franchise owner in central Nebraska. He says it was “intriguing to us because it covered everything we wanted. We wanted to help people, we didn’t want to struggle with competition and we wanted to be the name in the community.”
Caring Transitions franchise cost
Of course, you shouldn’t start a franchise with Caring Transitions without knowing what it will cost you upfront.
According to recent data, the initial franchise fee you can expect is around $44,900. You’ll need to provide an initial investment of between $59,000 and $83,000, give or take, depending on operational costs and the number of people you hire.
On top of that, Caring Transitions requires all new franchisees to have $50,000 in liquid cash upfront. Veterans can take advantage of a $2000 discount on the franchise fee.
Regarding long-term fees, Caring Transitions has competitive and relatively standard requirements. You have to pay a 5% royalty fee, which is paid to Caring Transitions on a regular/ongoing basis. You’ll also have to pay a 2% ad royalty fee.
When you sign on with Caring Transitions, your agreement is suitable for 10 years. The franchise terms are renewable if the partnership is beneficial to you both.
Is there financial assistance with Caring Transitions franchising?
No. Caring Transitions does not offer direct or indirect financing, nor does Caring Transitions provide any note, lease or obligation to franchisees. Keep this in mind.
Related: Home Safety Guides for the Elderly
Get started with a Caring Transitions franchise today
Starting a new franchise with Caring Transitions could be a great way to break into this growing market and maximize your potential profits in the future. Consider creating a franchise with Caring Transitions today.
Check out Entrepreneur’s other guides and articles for more information on this topic.
