FirstLight
The successful business owner in home healthcare has a bright future. According to a 2009 AARP survey, nearly 90 percent of seniors have stated a strong desire to remain in their own home for care. In addition to this statistic, with the impact of the aging baby boomers and improving medical technologies, the demand for home care services in the United States is staggering. Home health care businesses are providing skilled medical, non-medical or both types of services to cope with a rapidly aging population.
FirstLight HomeCare meets this increasing demand with high quality, comprehensive, in-home, non-medical and personal care services to seniors, new mothers, disabled adults and others needing assistance. FirstLight HomeCare’s values-driven approach includes groundbreaking, industry-leading tools for clients and their families that sets FirstLight apart from the competition.
| |
Operating Units (in the U.S and its Territories) |
12/31/2008 |
12/31/2009 |
12/31/2010 |
|---|
| | Franchised |
0 |
0 |
9 |
| | % Change | -- |
-- |
-- |
| | Company-Owned |
0 |
0 |
0 |
| | % Change | -- |
-- |
-- |
| | Total |
0 |
0 |
9 |
| | % Change | -- |
-- |
-- |
| | Franchised as % of Total |
-- |
-- |
100% |
Investment Required
The fee for a FirstLight franchise is $29,400.
FirstLight provides the following range of investments required to open your initial franchise. The range assumes that all items are paid for in cash. To the extent that you choose to finance any of these expense items, your front-end investment could be substantially reduced.
| |
Item |
Established Low Range |
Established High Range |
| |
Initial Franchise Fee |
$29,400 |
$29,400 |
| |
Expenses while Training |
$1,890 |
$1,890 |
| |
Organizational Expenses, Supplies, and Printing |
$300 |
$600 |
| |
Auto Signage/Advertising |
$0 |
$1,225 |
| |
Advertising, Marketing and Promotions |
$3,600 |
$3,800 |
| |
Business Premises |
$0 |
$3,600 |
| |
Employment Screening |
$240 |
$360 |
| |
Office Furniture and Equipment |
$250 |
$1,200 |
| |
Leasehold Improvements |
$0 |
$500 |
| |
Advertising Associated with Opening |
$3,000 |
$4,000 |
| |
Utility Security Deposits, Telephone Deposit and Prepaid Expenses |
$200 |
$300 |
| |
Business Permits, Licenses and Fees |
$0 |
$3,200 |
| |
Insurance |
$2,200 |
$4,400 |
| |
Computer System, Printer and Software License |
$2,200 |
$2,900 |
| |
Professional Fees |
$750 |
$2,000 |
| | Additional Funds (3 months) |
$9,000 |
$18,000 |
| | Total Investment |
$53,030 |
$79,265 |
Ongoing Expenses
FirstLight franchisees pay ongoing royalty fees equal to the greater of 5% of monthly gross billings or $250 for the first 17 months. For the months thereafter, FirstLight franchisees pay ongoing royalty fees equal to the greater of 5% of monthly gross billings or the minimum performance standard gross revenue amount.
What You Get—Training and Support
New FirstLight HomeCare franchisees are required to participate and successfully complete New Owner Training Week in Cincinnati, OH. This five-day training is fast-paced and quickly immerses new owners into the ins and outs of the senior care industry, the FirstLight operating system and provides a hands-on approach to learn the FirstLight HomeCare business model.
The FirstLight HomeCare post-training module helps to transition new owners from training to support by scheduling weekly phone calls beginning the first week the owner is back in their new office and continuing for 16 weeks. For ongoing support, FirstLight conducts on-site, face-to-face visits with franchisees several times annually to address any needs regarding recruiting, networking, business planning, marketing and growth.
Territory
FirstLight HomeCare grants exclusive territories.
Note: The tables and information regarding the number of operating units, investment required, on-going expenses, training and territory grants were taken from the company’s 2011 FDD. The 2011 write-ups will be incorporated into the 2011 Edition of Bond’s Top 100 Franchises publication.
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