Start-Up Costs and Fees |
||
| The Senior's Choice | IKOR | |
| Investment | 45000 - 65000 | 86450 - 138083 |
| Franchise Fee | ||
| Royalty Fee | Membership: $500/month (with 30-day written notice to discontinue membership. No ongoing royalties) | 8% |
| Advertising Fee | 1% | |
| Year Founded | 1999 | 2000 |
| Year Franchised | 2007 | 2010 |
| Term Of Agreement | ||
| Term Of Agreement | ||
| Renewal Fee | ||
Business Experience Requirements |
||
| The Senior's Choice | IKOR | |
| Experience | Minimum Net Worth: $100,000 Average Number Of Employees: 2 full time staff, 40 caregivers Passive Ownership: No | |
Financing Options |
||
| The Senior's Choice | IKOR | |
| Franchise Fees | No | |
| Start-up Costs | No | |
| Equipment | No | |
| Inventory | No | |
| Receivables | No | |
| Payroll | No | |
Training & Support |
||
| The Senior's Choice | IKOR | |
| 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. | Classroom Training: 74 hours |
| Support | Newsletter Meetings/Conventions Grand Opening Online Support Security/Safety Procedures Field Operations Franchisee Intranet Platform | |
| 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. | Number of Employees Required to Run: 2 |
Expansion Plans |
||
| The Senior's Choice | IKOR | |
| US Expansion | Nationwide, Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Guam, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming | Nationwide, Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Guam, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming |
| Canada Expansion | ||
| International Expansion |
Start-Up Costs and Fees Mobile |
|
| Investment | |
| The Senior's Choice | |
| IKOR | |
| Franchise Fee | |
| The Senior's Choice | |
| IKOR | |
| Royalty Fee | |
| The Senior's Choice | Membership: $500/month (with 30-day written notice to discontinue membership. No ongoing royalties) |
| IKOR | 8% |
| Advertising Fee | |
| The Senior's Choice | |
| IKOR | 1% |
| Year Founded | |
| The Senior's Choice | 1999 |
| IKOR | 2000 |
| Year Franchised | |
| The Senior's Choice | 2007 |
| IKOR | 2010 |
| Term Of Agreement | |
| The Senior's Choice | 5 years |
| IKOR | 10 years +5+5+5 |
| Renewal Fee | |
| The Senior's Choice | |
| IKOR | |
Business Experience Requirements |
|
| Experience | |
| The Senior's Choice | Minimum Net Worth: $100,000 Average Number Of Employees: 2 full time staff, 40 caregivers Passive Ownership: No |
| IKOR | |
Financing Options |
|
| Franchise Fees | |
| The Senior's Choice | No |
| IKOR | No |
| Start-up Costs | |
| The Senior's Choice | |
| IKOR | |
| Equipment | |
| The Senior's Choice} | |
| IKOR | |
| Inventory | |
| The Senior's Choice | |
| IKOR | |
| Receivables | |
| The Senior's Choice | |
| IKOR | |
| Payroll | |
| The Senior's Choice | |
| IKOR | |
Training & Support |
|
| Training | |
| The Senior's Choice | 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. |
| IKOR | Classroom Training: 74 hours |
| Support | |
| The Senior's Choice | |
| IKOR | Newsletter Meetings/Conventions Grand Opening Online Support Security/Safety Procedures Field Operations Franchisee Intranet Platform |
| Marketing | |
| The Senior's Choice | |
| IKOR | |
| Operations | |
| The Senior's Choice | 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. |
| IKOR | Number of Employees Required to Run: 2 |
Expansion Plans |
|
| US Expansion | |
| The Senior's Choice | Nationwide, Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Guam, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming |
| IKOR | Nationwide, Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Guam, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming |
| Canada Expansion | |
| The Senior's Choice | |
| IKOR | |
| International Expansion | |
| The Senior's Choice | |
| IKOR | |