GoodOaks Homecare wins two awards at the Home Care Awards 2024
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Starting a business is fun and exciting, but it also comes with a lot of learning. Becoming your own boss is a big step and it is ok to not have all the answers when you start out. That’s one of the factors that makes a franchise business so appealing, most of the hard work has already been done for you.
You have a tried and tested business model to follow with help available to support you as you set up and run the business. Every franchise is different however so it is important to look into the right option for you depending on the level of help and support you would like.
So here are the top things to consider before you start your franchise care business.
Research
Find out what the care franchise offers for your fee, and how they will support you. Will they be there every step of the way? Or will you be expected to work it out for yourself?
What support will you get to start up? To get a loan from the bank? To hire the right people? To get out there and market yourself and your business well? Will they give you training and IT support?
Does the company align with your values and ethos? At GoodOaks Homecare we are really passionate about working with caring and empathetic people that share our values. We only work with people that share our PRIDE values of professionalism, respect, integrity, dedication and empathy, and that’s why we believe we are one of the best companies to work with. We are a small independent company, that cares about the teams we work.
Get your business plan in order
One of the biggest worries we hear from potential franchisees is that they are concerned about the financial side of franchising and raising the capital to start up. At GoodOaks Homecare we can help you through this process, because we have been there ourselves. Having a solid business plan will help you secure the funding you need, so you can be up and running asap.
We are upfront about our fees and exactly what help and support you will get. Our early adopters have an initial joining fee of £19,500 and you will also need additional working capital to pay for business expenses. We estimate that you will need a total personal investment of over £30,000.
Because banks recognise the success of franchising in creating profitable, sustainable businesses, they are often willing to lend between 50 and 70 per cent of the total investment required.
Our early adopter pricing means you need to invest less before you start gaining revenue, freeing up your capital to spend on growing your business. This means you can invest in your staff wages, on marketing your company, and establishing a high-quality service, reaching your break-even point faster.
With the GoodOaks Homecare package, you get: start up support, business planning support and help to secure funding, a proven operating system, recruitment and management tools, benchmarking tools, IT and PR support and exclusive rights to your territory. We also provide ongoing help and support from the team so you are never on your own throughout the process.
Take advantage of the franchise offer
We provide a lot of tools to help your business, because we know how important that road map to success having is. Sometimes people focus on one thing over the others – and as tempting as this can be, it’s important to make the most of the full franchise offer – things like PR and marketing can be crucial in getting your business out there, so that customers and carers can find you.
Ask for help
Many people don’t like to ask for help, but that is what we are here for. With a franchised business you don’t have to go it alone, you have access to a team to help and support you. Most importantly, you have access to teams who have been where you are on your start up journey, so can give tailored help and support. Make sure you ask every question and make the most of advice and support – we are here to help you succeed.
Enjoy it!
Remember, that starting a business is great fun! There’s nothing like seeing clients and care professionals happy and getting great feedback and testimonials from clients and their loved ones.
Get in touch to find out about how you can start your GoodOaks Homecare franchise journey.
