Questions to Ask Before Investing in a Senior Services Business
Franchising can be an attractive investment for experienced executives, prior business owners, retired military professionals, and individuals with a variety of life experiences who have the proven leadership skills needed to succeed. Some franchise systems provide low start-up and operating costs, making franchise ownership a straightforward path to owning a business and becoming your own boss.
Many of our franchise owners who have invested in a Caring Transitions franchise do so for the independence and financial stability it can provide, but also for the opportunity to truly feel fulfilled by their work. But before you consider investing in a senior services business, there are some questions you should ask to ensure that it is the right fit for you.
What is the culture of the franchise?
Just as Caring Transitions franchise owners walk beside their clients and their families through the entire transition process, you can be assured that the Caring Transitions team will be with you every step of your journey to franchise ownership. As a Caring Transitions franchise owner, you can enjoy the best of both worlds: the independence and fulfillment of owning your own business along with the support, knowledge, and tools of a national brand.
What kind of training can I expect?
Caring Transitions offers a complete turn-key operation, including initial training on how to operate a successful and profitable business. The initial training and on-boarding program provides you with:
- The training necessary to effectively bid projects.
- The skills to hire quality workers who will be responsible for executing projects.
- An understanding of your target consumer and all of the tools necessary to market your business.
- The expertise to manage and organize your business through technology, accounting software, budgeting, and time management techniques.
What type of ongoing support can I expect?
The support offered to Caring Transitions franchise owners never ends! The Operational Support team will be there helping you grow as an owner — answering questions, assisting in identifying new opportunities, helping you be innovative, and sharing best practices from across the system. You will also have access to a robust online library of tools, webinars, regional meetings, national conferences, strategic planning sessions, and more. In fact, your success is so important to the company that you can earn your entire franchise fee back upon meeting certain milestones through the Winner’s Circle program.
Is there an incentive for the military to become a franchise owner?
Veterans have always been drawn to the franchise business model, and franchisors have long recognized that entrepreneurial veterans are some of the best qualified, motivated, and successful prospective franchise partners out there. In fact, even though veterans account for about 7% of the population, 14% of franchise owners are veterans. Caring Transitions offers a franchise fee discount to veterans, as well as the opportunity to earn back the full franchise fee through the Winner’s Circle program.
What financing options are available?
For most franchise owners, Small Business Administration (SBA) loans are a popular option that can help finance franchise ownership. Additional financing options include 401K rollovers, IRA, unsecured lines of credit, and credit card financing.
What background or job experience do I need to own a Caring Transitions franchise?
While no specific experience is necessary to become a franchise owner, you do need a drive and passion to succeed. Caring Transitions has franchise owners from many different industries and job experiences, including real estate, senior care, military, the moving industry, business leaders, and more.
While previous experience in eldercare or the moving industry is not required, a personal commitment to the health and happiness of others is what will drive your success as a franchise owner. Caring Transitions has been ranked as the #1 Senior Relocation Franchise by Entrepreneur magazine five years in a row, a legacy you will surely benefit from as a franchise owner.
Each Caring Transitions owner earns the Certified Relocation Transitions Specialist (CRTS) designation, the most rigorous industry credential awarded in the field of senior relocation and move management. Additionally, The Caring Transitions team continues to work with franchise owners and their employees to maintain the highest standards in the industry.
Who is a typical franchise owner?
Caring Transitions is proud to have a wide variety of individuals, couples, and partnerships who have chosen to become Caring Transition franchise owners. There is no specific profile for what makes a successful franchise owner, other than the desire to launch an affordable business and who is genuinely interested in the service of others. Meet the newest owners to learn why they chose to become part of the Caring Transitions team.
How do I get started?
Owning a Caring Transitions franchise has never been easier and you can be up and running in just a few months. Once you request information, our franchise director will answer all your questions and help you to learn more about the business so that you can decide if it is the best fit for you to meet your goals. We make the Steps to Ownership simple and straightforward so that you are comfortable making the right decision for your future.
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