Redwood Healthcare Staffing
With 30 years of successful experience in the healthcare industry, Redwood Healthcare Staffing is committed to providing the highest quality and most qualified healthcare professionals available. Recognizing the need for a superior, standardized healthcare staffing agency, Redwood Healthcare Staffing aims to cultivate lasting, positive relationships between healthcare professionals and their clients. Working with a wide variety of healthcare facilities including hospitals, nursing homes, clinics, assisted living facilities, rehabilitation facilities, correctional facilities and urgent care facilities, Redwood Healthcare Staffing prides itself on providing personal service, confidentiality and the highest ethical and professional standards in the medical staffing industry.
As the population of aging individuals in need of healthcare services continues to multiply, the healthcare industry is poised to grow exponentially over the next several decades. Within the healthcare industry, healthcare staffing currently represents an $8.8 billion industry, indicating immense potential for prospective franchisees. The Redwood business model possesses three possible sources of revenue—healthcare staffing, travel nursing, and in-home care—and provides Licensed Healthcare Professionals as well as non-medical companion care, meaning that Redwood franchisees can offer virtually comprehensive nursing services.
| |
Operating Units |
12/31/2008 |
12/31/2009 |
12/31/2010 |
|---|
| | Franchised | 0 | 0 | 0 |
| | % Change | -- |
-- |
-- |
| | Company-Owned | 0 | 0 |
1 |
| | % Change | -- |
-- |
-- |
| | Total | 0 | 0 |
1 |
| | % Change | -- |
-- |
-- |
| | Franchised as % of Total |
-- |
-- |
0.0% |
Investment Required
The initial fee for Redwood Healthcare Staffing franchise is $30,000.
Redwood Healthcare Staffing 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 | $30,000 | $45,000 |
| | Lease, Construction & Leasehold Improvements | $3,600 | $4,050 |
| | Telephone, Internet, and Utilities | $300 | $400 |
| | Office Equipment |
$1,500 |
$2,500 |
| | Computer Hardware/Software | $3,000 | $6,000 |
| |
Expenses While Training | $1,800 | $2,500 |
| | Pre-Opening Advertising | $500 | $1,000 |
| | Insurance | $3,500 | $5,000 |
| | Business Licenses | $200 | $2,000 |
| | Professional Fees | $2,000 | $5,000 |
| | Miscellaneous Supplies | $300 | $1,000 |
| |
Additional Funds (3 Months) | $80,000 | $110,000 |
| |
Total Initial Investment |
$126,700 |
$184,450 |
Ongoing Expenses
Redwood Healthcare Staffing franchisees pay royalty fees equal to 5% of gross revenue, a marketing contribution equal to the greater of 1% of gross revenue or $125 per week, and, where applicable, a cooperative advertising fee as determined by the co-op that is not to exceed 1% of gross revenue.
What You Get—Training and Support
Redwood Healthcare Staffing provides considerable training and support throughout the franchise relationship. Before a new franchise location opens, Redwood designates an exclusive territory and establishes minimum performance requirements for the franchisee. Franchisees participate in a mandatory seven-day training program at the Redwood Healthcare Staffing headquarters in LA. The initial training consists of 40-60 hours of classroom training and 20-30 hours of on-site instruction and covers a number of topics including business development, staff recruitment, managerial duties and roles, billing, licenses and credentials, collections and accounting, office management, software, and industry rules and regulations.
Once the franchised business has been established, Redwood offers assistance and advice from headquarters, field representatives, and training staff regarding technical support, sales support and general advice related to business operations. Redwood periodically designates certain products and services, and also approves advertising, communication and promotional materials. Furthermore, Redwood Healthcare Staffing offers and may require attendance at additional training courses, conference calls and webinars, and annual conventions.
Territory
Redwood Healthcare Staffing grants protected areas in geographic regions with a minimum population of 250,000.
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 Hottest New Franchises publication.
|
