What-Franchise-Issue-20.1

The long-established care franchise has bank partnerships with loan options supporting the next generation of franchisees in buying new territories as well as securing its popular resale locations In 1994, Home Instead - a care brand focusing on quality bespoke home care - was founded in Nebraska, USA. The business was a hit in the care sector, and able to grow cross- continental via franchising, making its debut in the UK in 2005. Now, Home Instead has 255 offices operating within the country, with 203 franchisees behind these locations. A big part of the franchise’s size can be attributed to the financial support that the brand has put in place to usher in talent from a variety of backgrounds, granting better access to what can be a successful business venture. “As a long-established franchise, we have strong and trusted relationships with banks and other providers and it’s important to us that as many people as possible have access to support in funding,” says Martin Jones MBE, CEO of Home Instead UK and International. Bank loans have been a popular route into the franchise, enabling franchisees to balance the upfront costs with a return on investment. “For a new business, franchisees should expect to see clear break even by month 18 and all franchisees are able to pay back their bank loan within five years,” says Martin. However, for resales, which now make up the majority of the franchise’s territory sales, the figures can vary more as businesses come with an existing set up and established revenue streams. The breadth of Home Instead’s network has enabled the franchise to group together franchisees who are also financial experts. They support those within the brand who need more support on fiscal matters – providing an important voice from the ground up. “We have a FinanceWorking Group made up of franchisees with a finance background,” confirms Martin. “They meet with National Office on a quarterly basis and with them, we build out support focused on profitability and growth.” Despite the delays in CQC registration, which have prohibited some within the wider industry from generating revenue months after investing in their business, Home Instead is not wary. “Our model is not solely reliant on regulated services, meaning franchisees can provide some aspects of care, generating revenue, before registration, therefore reducing the financial pressure other care providers may have whose sole focus is on regulatory care,” says Martin. Home Instead now hopes it can guide a new generation of franchisees in taking over some of the retiring territories – with financial support plans ready and waiting. “Our model provides an opportunity to make a difference while running a successful and profitable business - and the support teammatch this mindset,” says Martin. “We work tirelessly to ensure you’re able to provide high quality bespoke care in your local area.” F U N D I N G : Home Instead Investment: £110,000+ (new), £300,000+ (resale) Established: 2005 Number of outlets: 255 Contact: franchise@homeinstead.co.uk Home Instead The care franchise provides structured financial plans and business templates enabling you to build a ten-year fiscal blueprint of your business. The brand also works closely with banks such as HSBC, Lloyds, and NatWest, which offer a loan covering 70% of the fees on new and resale investments. Meanwhile, existing franchisees looking to scale via a resale purchase have been able to secure up to 90% funding through the partnership. 22 WHAT FRANCHISE Issue 20.1 50 Funding Pl ans | PARTNER CONTENT