What Does it Cost to Launch a Senior Care Business?

Senior Care is a great investment to bring medical and pharmaceutical representatives into a growing industry

For many aspiring entrepreneurs, the costs of building a new business are the biggest obstacle to realizing their aspirations. Others may be unconcerned about those costs, but lack the guidance needed to navigate the process. Touching Hearts at Home is an affordable senior care business that can help overcome both these obstacles. But don’t take our word for it.

cost to own a senior care business

Entrepreneur magazine recently included Touching Hearts at Home on its annual List of Top Franchises For Less Than $100,000. Additionally, our fast-growing in-home franchise was also recognized by FranServe as a FRAN-TASTIC 500 brand for 2020. These industry insiders recognize the value Touching Hearts can deliver to new franchise owners.

When you invest in a Touching Hearts franchise, you’re investing in an opportunity to be financially successful. We streamline the startup process, help you recruit care providers, and offer the benefits associated with a respected and thriving national brand. Founder and CEO Renae Peterson says it best:

“Now is a great time to invest in a non-medical home care business. Baby boomers are aging, the pandemic is having a lasting and dramatic effect on in-patient senior care, and the demand is there. It’s not difficult finding clients because everyone wants to stay in their home, and often all they need is a little extra help. Touching Hearts at Home meets that need perfectly.”

Touching Hearts at Home operates in a growing industry that will continue to expand, increasing your potential for success. It’s also one of the more affordable franchise opportunities in the senior care space.

Getting started is easy and affordable for medical sales representatives

When compared to other franchise concepts, Touching Hearts senior care business is far more affordable to kick off. Startup expenses for the first six months of your Touching Hearts at Home franchise range from $52,900 to $75,600. The franchise fee is $39,500. These start-up expenses include office space, office equipment, advertising and marketing, insurance, and miscellaneous business expenses. We will also work with you to create a business plan that best fits your goals and location.

Because our expenses are much lower, we also have lower financial qualifications for potential owners. The minimum requirements of ownership are $50,000 in liquid capital and a net worth of at least $100,000. Moreover, Touching Hearts at Home franchise owners have access to third-party lenders who can counsel you through the process of securing financing, if needed.

senior care franchise

Beyond our startup cost savings, our franchise owners also benefit from our unique perspective on ongoing marketing: we do not charge a marketing fee. Instead, Touching Hearts at Home owners finance our marketing approach with just the standard royalties. There are no fees for marketing the franchise system. (For reference: marketing fees in competing concepts can range from 1% to 3% of gross revenues, this is on top of franchise fees that range from 6% to 12% of gross revenues!)

Touching Hearts at Home is proud to offer 10% off the initial franchise fee to honorably discharged veterans.

You aren’t your only source for revenues!

One question we frequently field, particularly from established sales professionals, concerns the demands of direct sales. While much of your revenue will come via sales you make, that’s not the case with our business. Touching Hearts at Home franchise owners are able to generate revenue through referrals from hospitals, skilled nursing facilities, assisted living communities, doctors, nurses, and social workers. But never forget the biggest benefit of our brand: the top referral source in our industry remains word-of-mouth from satisfied seniors and their families.

If you are interested in learning more about Touching Hearts at Home’s startup costs, ask for a copy of our FDD Item 7 here.

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