Seniors Helping Seniors
Seniors Helping Seniors offers medical and non-medical personal services to seniors, including companion care, transportation, and home health services. Known for providing comprehensive support, it operates in the senior care and assistance industry.
Seniors Helping Seniors franchise FAQ
How much does it cost to open one — the total initial investment?
The total estimated initial investment required to open the initial Franchised Business, which includes all items outlined in Chart 7(A) except for the Initial Franchise Fee, ranges as specified in Chart 7(A). This amount does not include costs for opening additional businesses. [p.20]
What is the initial franchise fee?
The initial franchise fee is Fifty-Five Thousand Dollars ($55,000). This fee is payable in full upon the execution of the Agreement and is not refundable, except in cases where there is a failure to agree on the location of your site as described in Section V(S) below. [p.75]
What are the ongoing royalty and advertising fees?
Ongoing royalties are typically a percentage of gross franchisee revenues [p.187]. Advertising costs are expensed as incurred, with total expenses varying from year to year [p.207]. This isn't specified in the excerpts regarding the exact percentages or amounts for royalty and advertising fees.
How long is the initial franchise agreement, and can I renew it?
The initial franchise agreement typically lasts for a period of 10 years [p.191]. Renewal terms are not specified in these excerpts, but generally, the ability to renew or extend the franchise agreement would be subject to conditions outlined by the franchisor [p.231].
Can I sell or transfer my franchise, and what does that require?
Yes, you can transfer your franchise, but it requires payment of a transfer fee. According to [p.76], the transfer fee is either $15,000 or 50% of the current initial franchise fee for the first territory, plus $5,000 for each additional territory transferred at the same time, along with attorney's fees and third-party costs. This payment must be made 30 days before the transfer.
On what grounds can the franchisor terminate the agreement?
The franchisor may terminate the agreement on any grounds available by law, as stated on [p.231].
What financial requirements — net worth and liquid capital — do I need to qualify?
This isn't specified in the excerpts. The FDD mentions working capital requirements but does not detail specific net worth or liquid capital amounts needed for qualification as a franchisee.
Do I get an exclusive or protected territory?
Yes, you have an exclusive right to your territory. However, if you fail to meet performance targets as agreed in your business plan, the franchisor may reduce the size of your territory or revoke exclusivity without compensating you for soliciting services within that territory [p.35].
What training and ongoing support does the franchisor provide?
The franchisor provides optional fee-based specialized training and assistance, such as site visits, sales training, management training, round table seminars, detailed marketing plan reviews, and business planning. This support is offered in addition to basic non-fee-based support [p.30, p.74]. Franchisees are also required to attend and complete special programs or periodic additional training at their own expense, including costs for meals, entertainment, lodging, travel, and employee wages [p.78].
How many franchised outlets are there, and how many have closed or been terminated?
The FDD does not specify the total number of franchised outlets. However, it states that during the last three years, a large number of franchised outlets (28) were terminated, not renewed, re-acquired, or ceased operations for other reasons [p.5].
Does the franchisor share any financial performance or earnings information?
Yes, the franchisor can provide financial performance information if there is a reasonable basis for such information and it is included in the disclosure document [p.46]. However, the franchisor does not make any financial performance representations other than those specified in Item 19 of the FDD, nor do they authorize their employees or representatives to make such representations [p.53].
What am I restricted to selling, and where must I buy supplies?
You are required to purchase certain equipment and products from approved suppliers designated by the franchisor [p.79]. You may not accept or solicit orders inside another Franchisee's Territory for services; however, you can sell products outside your territory through channels like the Internet, catalog sales, telemarketing, or other direct marketing methods until a new franchisee is assigned to that area [p.34].