Franchise Gator recently sat down with David Goodman, President of Companion Connection Senior Care, to talk about their franchise/membership opportunity.
How was your franchise/opportunity originally conceived and started?
My partner and I have a very successful home health care company that we started in NJ in 1985. In 2004 we were able to take all the lessons that we had learned and create a system to help other people develop this type of business in their community.
What was your original vision for your company? How has that changed over time?
The original vision was to make a difference for seniors receiving home care services. From the beginning we were committed to quality of care and transparency. We have succeeded on our vision, we now have over 342 member agencies servicing 10,000 clients per day.
What do you believe is the single most important factor when choosing a franchise?
It is important to consider the cost of the opportunity. It is important that you are not limited in your ability to sell services or just as importantly recruit caregivers. You should also partner with a company with a proven track record of success in the industry.
Why should someone choose your franchise over other similar franchises?
Companion Connection Senior Care offers many advantages over traditional franchises.
- We do not charge a royalty fee
- While we provide territory protection, we do not limit where you can sell your services or recruit your caregivers.
- We provide over 150 hours of online training
- State licensing assistance
- Financing Available
- We have a proven track record with over 34 years in the home health care industry.
What makes your industry attractive?
The non-medical home care industry has been one of the fastest growing franchise sectors for many years. The barrier to entry is low and the potential revenue is high.
What types of qualities do you look for in potential franchisees?
Caring, generous, trustworthy, committed to helping seniors and making a difference in their community.
What do your franchise fees and royalties cover?
The initial franchise fee includes assistance with state licensing, 150 Hour Home study training Program, marketing materials and much more. The initial franchise fee also covers 12 months of membership support. After the 12 month period ends, the franchisee can continue with monthly membership support at $399.00 per month.
How do territories work for your franchisees?
We limit the number of memberships we will sell in a county based on a population base of 200K. For example if a county population is 400K we will limit the number of memberships we sell to two. We do not limit where the franchisee can market and or sell services providing published address is in reserved territory.
Why has your franchise model been successful?
We offer a cost effective solution with 12 month in house zero interest financing. The support team has over 100 years of combined expertise in the industry. We have a proven track record of helping franchisees to succeed and successfully grow revenue.
Where do you see your franchise in 5 years and 10 years?
We look forward to continuing to help existing franchisees expand their business revenue and client base. We also look forward to helping many new franchisees enter this lucrative, recession proof rewarding industry.
What is your favorite advice for new franchisees to help them succeed?
Stay laser focused on your core revenue stream. Leverage the decades of experience that Companion Connection Senior Care offers.
What would you tell potential franchisees that may be nervous about the financial burdens of starting a franchise?
Starting a new business rightfully creates stress and fear. This is the reason you do not want to enter this business alone. If you go with a proven leader in the field you will greatly increase your chances of success. Choose a leader with low initial cost and generous territory in an expanding senior care marketplace and you can replace your fear with confidence.
Can you explain your financial assistance?
It’s simple we have two choices:
- The franchisee can put down $1750.00 dollars at the time of signing contracts and the remainder of the balance can be paid over a 12 month period($599.00/month)
- The Franchisee can choose to pay the entire franchise fee upfront and will receive a $875.00 dollar reduction in cost ($7875.00 after reduction)
On average, how long does it take to start a new franchise from the franchisees point of view?
If the franchisee is in a licensing state it may take 30-180 days to become licensed. Companion Connection Senior Care has a full licensing department and will assist franchisee in becoming licensed.
What was your background and experience before founding this franchise?
I started my own home health care agency when I was 23 (34 years ago) and built a very successful agency. In 2004 we started franchising and now have 342 agency members in the United States. I have recently written a best selling book with Jack Canfield called the Road to Success volume 2. I have been featured in the WSJ, Entrepreneur Magazine and other publications. I also Co- host a weekly podcast called Focus on Seniors Radio.
Do you have any franchisee testimonials or success stories that you would like to share?
We have many, I encourage prospective franchisees to review the video testimonial section of the Companion Connection Senior Care website for more information.