Executive Care Your Home Care Company
Executive Care Your Home provides in-home care services and supplemental healthcare staffing to clients. Known for comprehensive home care solutions, it operates under the EXECUTIVE HOME CARE ® brand in the home health care services industry.
Executive Care Your Home Care Company franchise FAQ
How much does it cost to open one — the total initial investment?
The total initial investment necessary to begin operation of an EXECUTIVE HOME CARE ® franchised business ranges from $103,950 to $165,133. This includes a mandatory payment of $49,900 to $66,533 directly to the franchisor or affiliate. [p.1]
What is the initial franchise fee?
The initial franchise fee is $49,900 and it is nonrefundable once the agreement is signed. This amount is specified on page [p.89] and further confirmed on page [p.17].
What are the ongoing royalty and advertising fees?
The franchisee must pay a minimum royalty fee, which can be pro-rated based on the opening month of business. Additionally, there is a mandatory brand fund fee of 2% of Net Billings or a lower amount as determined by the company in its sole discretion. There is also an advertising cooperative fee that may vary and is paid either directly to the cooperative or through the franchisee's royalty payment, depending on the cooperative's rules. [p.72, p.65]
How long is the initial franchise agreement, and can I renew it?
The term of the initial franchise agreement is not specified in years but is governed by the original franchise agreement's terms. You have the option to renew your franchise, but whether you can do so depends on satisfying all renewal conditions as specified in the Agreement or the Successor Agreement [p.59].
Can I sell or transfer my franchise, and what does that require?
According to the FDD, a transfer of your franchise can occur between existing owners or by the owners to a new business entity fully controlled by them, provided the Responsible Owner retains at least 20% ownership [p.20]. However, the franchisor may refuse to permit such transfers for good cause, which includes but is not limited to unspecified reasons [p.6]. This isn't specified in the excerpts.
On what grounds can the franchisor terminate the agreement?
The franchisor can terminate the franchise agreement on any grounds available by law [p.128]. Additionally, the franchisor may terminate the agreement if there is a failure by the franchisee to comply with lawful provisions of the franchise agreement and such failure is not cured within a reasonable time frame [p.6].
What financial requirements — net worth and liquid capital — do I need to qualify?
This isn't specified in the excerpts.
Do I get an exclusive or protected territory?
No, you will not receive an exclusive territory. However, a protected territory is designated for your EHC Business as further described in §3 [p.57]. This territory provides some level of protection against competition from other franchisees and outlets controlled by the company, but you may still face competition from other channels or brands [p.32].
What training and ongoing support does the franchisor provide?
The franchisor provides initial training that currently includes approximately 5 days of in-person management and operations training at their corporate headquarters. They may also offer additional training programs from time to time, requiring one or more members of your management team to attend and successfully complete them. [p.27] Furthermore, the franchisor requires Initial Trainees (typically the Responsible Owner and Designated Manager) to complete initial training before operations can commence. [p.26] This training is crucial as it ensures compliance with the franchise system's intellectual property and operational standards. [p.73]
How many franchised outlets are there, and how many have closed or been terminated?
This isn't specified in the excerpts.
Does the franchisor share any financial performance or earnings information?
The franchisor may provide financial performance information if there is a reasonable basis for it, but they do not make any financial performance representations except for providing actual records of an existing outlet you are considering buying. [p.39] Additionally, if you receive other financial performance information or projections of your future income, you should report it to the franchisor's management and relevant regulatory agencies. [p.42]
What am I restricted to selling, and where must I buy supplies?
You are required to sell only the goods and services that the franchisor approves [p.67]. The franchise agreement also restricts your ability to operate a similar business during the term of the franchise [p.3], and you may be limited in terms of location, access to customers, what you can sell, marketing methods, and hours of operation [p.3]. For supplies, you must purchase or lease certain source-restricted goods and services as specified by the franchisor [p.23, p.67]. These items must meet the franchisor's specifications and are typically sourced from approved or designated suppliers, which may be exclusive in some cases [p.23].