Senior’s Choice Franchise Cost & Fees
Date Incorporation: 2005
Franchising Since: 2007
Headquarters: Incline Village, Nevada
Business Description: The service The Senior’s Choice Businesses offer is an effective solution for senior citizens who prefer to remain at home where the quality of life is enhanced without the stress and hardships of interrupted routines and daily habits.
Franchise Offer: The franchise offered is to operate a business providing in-home non-medical care and companionship for the elderly.
Financial Assistance: The Senior’s Choice does not offer financing. The Senior’s Choice does not guarantee the franchisee’s note, lease or obligation.
Training and Assistance: After the franchisee signs the Membership Agreement and pays the initial fee, we will provide a training seminar, (currently a four-day seminar) for up to two people associated with the Member Business, including the franchisee and one other person the franchisee designates. The franchisee and any employee(s) of the Member Business who previously attended initial training may attend any initial training seminars that The Senior’s Choice offers as often as the franchisee or they like during the term of the Membership Agreement, subject to seating availability. Supplemental or refresher training courses, programs, meetings and conventions are offered to persons who complete the initial training program. The Senior’s Choice will not require the franchisee to attend these programs, but strongly recommends that the franchisee does so if they are offered.
Territory: Before the franchisee signs your Membership Agreement, The Senior’s Choice will work with the franchisee to designate a Protected Territory based on the estimated number of senior citizens that are living within a geographic area. The Senior’s Choice uses information from an online demographics company, Demographics Now, to determine the estimated number of senior citizens living in the franchisee’s Protected Territory. Because they are based on population, Protected Territories in densely populated areas will cover a smaller geographic area than those in less densely populated areas. There is no minimum Protected Territory granted to franchisees.
Term of Agreement and Renewal: The length of the initial franchise term is five years. If the franchisee has substantially complied with the Membership Agreement during its term, the franchisee may renew the franchise for an additional consecutive 5 year term.
Obligations and Restrictions: The Senior’s Choice recommends, but does not require, that the franchisee personally supervise the Member Business. If the franchisee does not personally supervise the Member Business, the franchisee or his/her corporation, partnership or limited liability company should employ a manager who should be responsible for the full-time on-premises supervision of the Member Business. The Senior’s Choice does not place any restrictions on what Member Businesses can sell.
Total Number of Units: 180 units
|Name of Fee||Low||High|
|Initial Membership Fee||$45,000|
|Travel and Living Expenses While Training||$500||$1,000|
|Equipment and Supplies||$1,500||$4,000|
|Insurance, Licenses, Permits and other Miscellaneous Opening Costs||$2,500||$5,000|
|Advertising - 3 Months||$500||$1,000|
|Worker's Comp Deposit||$1,000||$5,000|
|Additional Funds - 3 Months||$3,000||$10,000|
|TOTAL ESTIMATED INITIAL INVESTMENT(excluding real estate costs)||$54,000||$71,000|
|Type of Fee||Amount|
|Membership Fee||$500 per month|
|Training Fee - Additional Employees||$1,000 per attendee|
|Costs and Attorneys' Fees||Will vary with the circumstances|
|Indemnification||Will vary with the circumstances|
Year of FDD: 2011
The above information has been compiled from the FDD of The Senior’s Choice.
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