IKOR
With an unwavering commitment to quality of life without compromise, IKOR offers a wide range of care management and advocacy services to the elderly, injured, ill and disabled. After decades of nursing experience with seniors and disabled individuals, IKOR realized that no single organization existed to ensure that the personal wishes and needs of such individuals were respected. As a patient advocate, IKOR offers guidance, planning, oversight and implementation of plans surrounding clients’ important life issues including medical, environmental, legal and financial affairs. The IKOR team consists of highly experienced Registered Nurse Patient Advocates (RNPA) and Personal Needs Coordinators (PNC) who labor to serve as an objective, protective and positive influence in clients’ lives and whose primary concern is the optimal care of each client.
Franchisees benefit from the full backing of the IKOR organization with years of experience, professional affiliations with major national associations, and a wide array of start-up support and ongoing assistance necessary to establish and operate a successful advocacy service business. Whether coming from a background in medical care, the legal field, finance, or business management, IKOR presents franchisees with the chance to own a successful business to pursue a passion for healthcare that will make a lasting positive impact.
| |
Operating Units |
12/31/2008 |
12/31/2009 |
12/31/2010 |
|---|
| | Franchised | 0 | 0 |
4 |
| | % Change | -- |
-- |
-- |
| | Company-Owned | 1 | 1 | 1 |
| | % Change | -- | 0.0% | 0.0% |
| | Total | 1 | 1 |
5 |
| | % Change | -- | 0.0% |
400% |
| | Franchised as % of Total |
0.0% |
0.0% |
80.0% |
Investment Required
The fee for an IKOR franchise is $35,000.
IKOR 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 | $35,000 | $35,000 |
| | Leases and Security Deposits | $0 | $5,000 |
| | Initial Inventory |
$1,000 |
$2,000 |
| | Insurance |
$2,500 |
$3,500 |
| |
Expenses While Training |
$2,000 | $4,500 |
| | Grand Opening Expenses |
$2,000 | $4,000 |
| | Furniture & Fixtures |
$600 |
$1,000 |
| | Computer Hardware/Software |
$4,000 |
$6,000 |
| | Utilities |
$500 | $1,000 |
| | Business Licenses & Permits | $50 | $250 |
| | Professional Fees |
$2,000 |
$3,000 |
| | Additional Funds (3 months) | $5,000 | $20,000 |
| |
Total Initial Investment |
$54,650 |
$85,250 |
Ongoing Expenses
IKOR franchisees pay monthly royalty fees equal to 8% of gross sales and a local advertising fee equal to up to 1% of gross sales with an option to create a brand development fund that will require contributions between 0.5-1% of gross sales. Franchisees also contribute $50 per month to Datikor® maintenance.
What You Get—Training and Support
IKOR provides franchisees with significant initial and ongoing support throughout the franchise process. All franchisees and their key managers are required to complete a 13-day comprehensive training program at IKOR headquarters in Kennett Square, PA. The training incorporates classroom lessons and practical experience and covers a variety of topics including the history and philosophy of IKOR, marketing, client assessment, screening procedure, client service procedures, billing/accounting/bookkeeping, ethics and Datikor®, and IKOR’s proprietary system.
Once a franchisee has successfully opened a franchised business, IKOR provides continuing consultation and advice regarding management and operation of the business through telephone, email and on-site communication. Franchisees have the option of participating in a management oversight program that reviews notes entered into Datikor® for quality assurance and relevance on a bi-weekly basis. Furthermore, franchisees receive the benefit of ongoing research and development conducted by IKOR headquarters as they create additional products and services to be offered to clients.
Territory
IKOR grants exclusive territories with an approximate population of 60,000 disabled persons and/or persons over the age of 65.
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.
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