Business View Magazine - Dec 2023

tend to perform exceptionally well as franchisees, so much so that the company offers veterans an exclusive 20% discount right off the bat. But of course, HomeWell’s leadership understands that not everyone starts their entrepreneurial journey with a specific focus on home care. So, the company introduced buying options, allowing prospective franchisees flexibility in managing their capital. A $5,000 training fee and the choice to pay the $49,500 franchise fee within 150 days or opt for a higher royalty rate provide a strategic approach to the investment. “We want to give them time to get in, understand the business model, and figure out the best way to use their capital and execute on the business model,” Condon says. If they’re the right fit, understand the model, and want to go all in, HomeWell also offers a 20% discount for owners who seek to buy multiple territories, either at once or one at a time. With that being said, the company typically sees an initial startup investment range of $52,000 to $224,000. However, the average of that range rests more around a $150,000 investment to really get the business off the ground. As HomeWell aims for continued growth, the focus for the next four years revolves around bringing in the right franchisees to build a supportive culture and enhance unit economics. The goal of reaching 100 locations within the next 12 months reflects the brand’s confidence in its business model and the belief that with the right owners, it can make a Mike Condon 195 BUSINESS VIEW MAGAZINE VOLUME 10, ISSUE 12 HOMEWELL CARE SERVICES