Home Instead Franchise vs. HomeCare Advocacy Network: How They Compare
A Home Instead franchise could be a smart investment, but you should learn more about the franchise opportunity and support before you decide if it’s right for you. There are other home care franchise brands, like HomeCare Advocacy Network (HCAN), that could be a better fit for you and your goals.
To give you a quick overview of both brands, we’ve compiled the initial and ongoing investment costs.
| Home Instead Franchise | HomeCare Advocacy Network Franchise | |
| Initial Franchise Fee | $59,000 | $55,000 |
| Initial Investment | $98,000-$125,000 | $116,650-$161,000 |
| Royalty Fee | 4%-7% | 7% |
| Ad Royalty Fee | 2% | 0% |
While the cost of starting a franchise is important to consider, there are other factors you’ll want to further explore when making your decision.
What to Look at When Comparing Senior Care Opportunities
As you research both Home Instead and HomeCare Advocacy Network, there are a few main points to cross-compare.
- Cost: As shown above, you’ll want to look into the initial franchise fee required and the total investment range estimated. Home Instead franchise costs include a higher initial franchise fee of $59,000 versus HomeCare Advocacy Networks franchise fee of $45,000. However, don’t be fooled by HomeCare Advocacy Networks higher investment range, with our brand, franchisees get their money’s worth, setting them on the path toward prosperity.
- Available territories: Investigate the territories available for each brand. Home Instead offers franchise opportunities throughout the United States and internationally. However, HomeCare Advocacy Network allows franchisees to exclusively own multiple territories with ample room for growth nationwide.
- Support and training: Understand the training and support program provided by each franchise. At HomeCare Advocacy Network, we have a comprehensive training curriculum that all franchisees — and their teams — must attend before taking on clients. Our training is very caregiver-centric because caregivers are the backbone of your business.
- Franchisee satisfaction: The validation step of the franchise discovery process is vital when deciding which brand to invest in. During validation, you’ll have the opportunity to speak with existing franchisees to learn more about what it’s like to run the business daily. If the franchisees you speak with seem unhappy with the franchisor, that could be an indicator that things aren’t going smoothly.
- Financial performance: A franchise cannot make any guarantees or promises regarding profitability or earnings. However, during the validation step, it is a good idea to ask franchisees how long it took for them to break even. That may help you understand the realities of owning a senior care franchise.
- Franchise agreement: This is the length of time that you’re allowed to own and operate the franchise. Home Instead franchise only allows you to sign for five years at a time, while HomeCare Advocacy Network awards franchisees a 10-year term. This gives you substantial time to capitalize on your investment. With a five-year contract, you’ll have limited time to grow your business, which could negatively impact your ability to renew your agreement at the end of your term.
- Market research: Conduct thorough market research in the areas where you’re considering opening a franchise. Fortunately, the senior home care market is steadily growing as more baby boomers turn 65 every day. With the senior population wanting to age in place, there’s an increasing need for home care.
- Franchise system size: While Home Instead may have over 1,000 locations, that doesn’t necessarily guarantee premium support. HomeCare Advocacy Network is a smaller franchise system, but that enhances the corporate employee-to-franchisee ratio. Our franchisees are able to quickly get in touch with our headquarters should they have questions or concerns.
Remember, choosing a franchise is a significant decision that can have a long-term impact on your financial future. Take your time to gather information, ask questions, and weigh the pros and cons of each option carefully.
Why Franchise With HomeCare Advocacy Network?
At HomeCare Advocacy Network, we don’t just sell franchises to those who meet our financial requirements. We reward them to those who are passionate about making a positive impact in the lives of others. We’re committed to providing people with a better tomorrow by allowing them to safely age in the comfort of their homes.
Our home care franchise is fully invested in the accomplishments of our employees, franchisees, and their caregivers. That’s why we fully embrace innovation by offering top-notch systems support and high-quality marketing campaigns to help franchise partners bring on clients and run their businesses efficiently.
To learn more about our franchise opportunity, contact us today, and one of our representatives will be in touch.
