The Senior's Choice vs The Haven Family Care Franchise Comparison

Below is an in-depth analysis and side-by-side comparison of The Senior's Choice vs The Haven Family Care including start-up costs and fees, business experience requirements, training & support and financing options.

Start-Up Costs and Fees
 
The Senior's Choice Franchise
The Haven Family Care Franchise
Investment $45,000 - $65,000N/A
Franchise Fee $29,000$15,000
Royalty Fee Membership: $500/month (with 30-day written notice to discontinue membership. No ongoing royalties)-
Advertising Fee --
Year Founded 1999-
Year Franchised 2007-
Term Of Agreement 5 years-
Term Of Agreement 5 years-
Renewal Fee --


Business Experience Requirements
 
The Senior's Choice Franchise
The Haven Family Care Franchise
Experience Minimum Net Worth: $100,000
Average Number Of Employees: 2 full time staff, 40 caregivers
Passive Ownership: No
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Financing Options
 
The Senior's Choice Franchise
The Haven Family Care Franchise
  In-House/3rd PartyIn-House/3rd Party
Franchise Fees No/Yes-/-
Start-up Costs No/No-/-
Equipment No/No-/-
Inventory No/No-/-
Receivables No/No-/-
Payroll No/No-/-

Training & Support
 
The Senior's Choice Franchise
The Haven Family Care Franchise
Training The Senior's Choice provides extensive training and support to its members They receive 4 days of initial training where they learn all aspects of the business and the tools and resources that are available to them. After training, they enroll in a 90-day coaching program with our dedicated Trainer and Coach. In addition, support is available by phone and email during normal business hours. The Senior's Choice also hosts regularly scheduled regional "next-level" educational and networking events, as well as an annual conference.

At The Haven headquarters in Raleigh, North Carolina we train you on everything you'll need to build a solid foundation in the business. Additionally, we give you extensive ongoing training in your own location on effective and precise operational procedures. Most importantly, our senior staff will personally stand by your side to assist you in implementing our proven method for regional business development through networking, PR, local advertising campaigns and direct interaction with business owners and management groups in your area. The result; we will teach you all the skills you need to build a strong regional presence for your assisted living franchising business!
Support -

Professional, personal relationship management skills necessary to achieve your goals in building your senior care business. Our support services will provide you with years of accumulated knowledge and expertise through the following individualized support elements: Regional target customer referral identification Senior staff onsite support Direct business development assistance � broker relationships Corporate Website Management SEO for Regional Toll-free technical support Networking with strategic partners and management team members Professional management software Operations manuals Technical data and forms PR and Publicity

Marketing --
Operations 4 Primary Advantages:

1. We charge No Royalty Fees, just a flat monthly fee of $500 - This results in huge savings and much greater take-home earnings compared with their industry franchise competitors.

2. Franchises sign No Long-Term Contracts - Their membership with us is month to month and they can cancel at any time with 30 days notice. This requires management to provide exceptional value to its owners every day, or risk losing residual revenue due to canceled memberships. That said; our retention rate is impressively high.

3. Franchisees establish their Individual Brand Identity - Senior care is one industry where franchise brand recognition is less than 1%. Therefore, our owners have the advantage of developing their own unique brand identity and representing themselves as a locally owned/operated business - which clients prefer.

4. Franchisees are free to customize their business according to their wishes/needs - While we provide our Members/owners with complete operating systems, business framework and best-practices; they are free to customize their business according to their needs and desires. This enables them to adapt their business and services according to the unique demands of their local market and to take advantage of any revenue opportunities that they feel are beneficial to them.

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Expansion Plans
 
The Senior's Choice Franchise
The Haven Family Care Franchise
US Expansion YesNo
Canada Expansion --
International Expansion --

Company Overviews

About The Senior's Choice

Here are three important reasons how The Senior's Choice is different: 1) Royalty Free - You pay no royalties on your hard earned income. Instead you pay a reasonable monthly fee after you have set up your business and attended our training. With a franchise you will pay tens of thousands of dollars in royalties each year which is a big chunk of your net income. Don't let them fool you; there is absolutely no justification for charging you those exorbitant fees. 2) No Long Term Contracts - While we are contractually committed to offer our services to you for the long-term, you may terminate your membership interest at any time. No gimmicks, no restrictions and no post-termination non-compete provisions. With our Membership Model we have to prove our value to you each and every month to keep your business. We offer services and benefits to you every month to keep your business or we don't get paid and that's they way it should be. Contrast that with a 10 year franchise agreement that locks you into paying a percentage of your gross revenues (not net profit) whether you're getting the service you bargained for or not. Don't be bashful, call franchisees and ask them would they do it all over again and then pose the same question to our Members. You'll be grateful you did! 3) It's Your Business, Not Ours, It's as simple as that. Every decision about your business is yours to make and yours alone. We just provide support and guidance to you, as much or as little as you want. With a franchise you are essentially leasing their brand and business for 10 years. You're simply a custodian for them where you do all the work, take all the risk and yet you don't get all the rewards. With us, you keep all of your hard-earned income and pay us a reasonable monthly fee for which you receive an equal or greater value for each and every month.
Home care agencies associated with The Senior's Choice are among the top performers in their respective markets when it comes to overall client satisfaction. It goes to show that when you provide caring and talented professionals with our outstanding training, exclusive programs and the best operating systems and support in the industry, good things are bound to happen.

About The Haven Family Care

The Haven has an impressive potential ROI for a franchise owner. With low overhead, a low start-up cost for a business and applicability in just about any market, the concept is financially sound. A franchise owner after five years in business is projected to do $323,960 in revenue with EBITDA of $65,949 in addition to an operator salary of $56,275. These numbers are extremely impressive in the franchise marketplace and will help make The Haven brand much more marketable and sustainable. We of course will not be guaranteeing any success or levels of profitability, but with a large margin for error, a franchisee can be much less effective than we have projected and still have a successful business. 20 percent ROI plus manager's salary - The rule in the franchise industry is that the business model should be able to do at least a 20% ROI by the end of the second year in business. The Haven model easily allows for this standard with EBITDA in year two at $55,894 and 46% ROI on cash for a franchisee by the end of the second year. Financially speaking, this model is as solid and attractive of an offer as you can find in the franchise marketplace. Operationally sound - The Haven model is operationally structured to be efficient and simple in nature allowing for ease of duplication in new markets. The corporate location of The Haven will be used as a goal and ideal example of what this franchise can become. With good management and the guidance of The Haven's franchise program, a franchisee can strive to build an organization as well-managed and structured as the business in Raleigh, NC. Adaptable nationally - The Haven model is certainly adaptable nationally, the concept is almost indiscriminant of the market it is located in. In all markets, the concept has been very successful and proven the sturdiness of The Haven concept. In most parts of the U.S., the population of seniors is increasing as well as the number of disabled people who need home care services. This is a booming market that with good marketing and motivated franchisees could work just about anywhere it seems. Public acceptance - The American public wants to be at home when they need extra care. The idea of going to a nursing home or assisted living facility is generally looked down upon. The key will be for The Haven to continue to provide professional, high-quality service with a focus on truly providing great care to the Residents. That will continue to build brand equity and value for The Haven throughout the franchise system.