spotlight business: griswold special care
TRANSCRIPT
Griswold Home Care: About Us and About You - Spotlight Business Presentation
Franchisor History
Founded: 1982 by Jean Griswold in Pennsylvania. Griswold Special Care was the first non-medical home care franchise in the United States;
Current Locations: 146; Clients:
Elderly – roughly 60% of clientele;
Special Needs – e.g. autistic children;
Physically Disabled / Rehabilitation – e.g. post surgical care, long-term care, Alzheimer's care.
Services Offered
Direct, Non-Medical Home Care (70%+ of
Business)
Personal Monitoring: Sale of & response to emergency response equipment (+/- 10%
of Business)
Staffing Services (+/-
20% of Business)
Industry Growth Drivers
Lower Cost: Avg.
Home Care
Visits = 5% of One Day
Hospitalization
Aging Population: 70% of Franchisor’s Clients
are 65+
Patient Preference: People Do Not Want To
Leave Their Homes Until They Need To
New Technol
ogy: More
Elderly People
Can “Age in Place”Industry
Growth
Why Non-Medical Home Care?
Client Origination: home care businesses receive their clients by referral sources (the “push”) and through direct interaction with their clients (the “pull”); Referral Sources: Medical referral sources (e.g. hospices, hospitals, and long
term care facilities) are willing to work with non-medical home care businesses because they are not in competition with them;
Clients: No one is “sold” non-medical home care. The choice is often between making use of a care giver or moving to a long term care facility.
Simplicity: The service offerings are simple, do not require insurance reimbursements, work. comp., or expensive insurance policies;
Scalability: The business grows by adding administrators, marketers, and care givers. Quality assurance is easily accomplished, as the core services do not change;
Regulations: Custodial care is not as heavily regulated. You do not need to fear on-going compliance issues;
Costs: Start-up costs of medical based home care businesses are higher for non-medical professionals;
Licensure: Some states do require licensing of medical-care businesses.
Non-Medical Services
Companionship & Conversation Providing Socialization, Friendship &
Support Meal Planning, Preparation & Serving Grocery Shopping, Prescription Pick-up,
Errands Transportation to Appointments, Activities,
Etc. Walking & Exercise Medication Reminders Providing Respite Care For Family
Members Routine Light Housekeeping including:
Cleaning, Vacuuming, Dusting, Laundry, Bed Making etc.
Organizing Cupboards, Closets & Rooms Caring for Pets & Plants Ironing & Mending Birthday & Special Event Reminders Daily Call-In
Supervising or Assisting with Bathing Oral Hygiene Assisting with Feeding Assisting with Dressing Assisting with Grooming Needs
Hair Care, Shaving & Nails
Assisting with Mobility Functions
Transferring, Exercising & Walking
Assisting with Toilet Needs Medication Reminders & Monitoring Fall Prevention Assistance Special Dietary Preparation According to Client's Needs Read About The Tax Incentives That Make Home Care Affordable:
• Fox News Business Segment• Wall Street Journal Article
Why Griswold?
Low Royalty: <4%; Indirect Employment:
Because caregivers are placed with their patients, franchisees have lowered liability and costs;
Franchise Business Review Ranks Griswold #1 for Highest Unit Performance, Lowest Franchise Fees, and Overall Satisfaction.
Employment Model
Employees are independent contractors (1099, not W-2);
Employees are paid and bill the client directly, this reduces overhead;
Franchisee does not pay withholdings, social security, or other taxes on the employees.
Financials
Est’d Total Initial Investment: $74,000 - $96,000 Average Annual Revenue: $1,320,000
Military Vet. Discount: 11% of Franchise Fee; Territory Size: Minimum of 300,000 people; Average Clients / Franchise: 46
2011 Results
Territories: 39 New Territories Awarded 95 Franchisees in 26 states operating in 164
territories; Closures: 0 Litigation Free: No litigation from
franchisees, franchisor, or customers. Terminations: 0 Renewal Rate: 100% Resales: 2, both of which were sold to
existing franchisees
Is That All?
Not even close! Gateway Franchising works with several well established, reputable home care businesses;
We have a substantial amount of additional information on this franchise. If you’re considering Griswold, please contact us for additional information;
We also represent other franchises in other industries. If you are considering this or any other franchise, please contact us directly:
Christopher HanleyGateway Franchising