In this exclusive Franchise Chatter FDD Talk post, you’ll learn the following:

Section I – Estimated initial investment (franchise costs) for a ComForCare franchise, based on Item 7 of the company’s 2024 FDD

Section II – Initial franchise fee, royalty fee, and marketing fee for a ComForCare franchise, based on Items 5 and 6 of the company’s 2024 FDD

Section III – Number of franchised and company-owned ComForCare outlets at the start of the year and the end of the year for 2021, 2022, and 2023, based on Item 20 of the company’s 2024 FDD

Section IV – News updates on the ComForCare franchise opportunity

Section V – Presentation and analysis of ComForCare’s financial performance representations (average revenues and/or profits), based on Item 19 of the company’s 2024 FDD, including information on the:

• 2023 average, median, highest, and lowest territory’s gross sales for the 190 ComForCare Home Care franchise territories that were open and in operation during the entire period of January 1, 2023 through December 31, 2023 and have reported a minimum of 13 months of gross sales data

• 2023 average, median, highest, and lowest owner’s gross sales for the 143 ComForCare Home Care franchise owners (including those with multiple territories) that were open and in operation during the entire period of January 1, 2023 through December 31, 2023 and have reported a minimum of 13 months of gross sales data

• 2023 systemwide revenue by source percentage (private pay, Medicaid/state-funded programs, insurance, veterans’ programs, and miscellaneous) generated from ComForCare Home Care’s proprietary operational software for offices that were open the entire 2023 calendar year

• 2023 average, median, highest, and lowest hours billed generated from ComForCare Home Care’s proprietary operational software for offices that were open the entire 2023 calendar year

• 2023 average, median, highest, and lowest number of clients generated from ComForCare Home Care’s proprietary operational software for offices that were open the entire 2023 calendar year

Section VI – Key ratios, comparables, computations, and analyses for the ComForCare franchise opportunity (exclusive content for Platinum subscribers)

Section I – ComForCare Franchise Costs

• Initial Franchise Fee:  $29,500 to $59,000
• Travel Expenses for Training:  $0 to $7,800
• Real Estate and Related Expenses (3 Months):  $2,250 to $3,400
• Office Equipment:  $2,300 to $6,800
• Computer Systems (3 Months):  $3,000 to $5,000
• Signs:  $100 to $575
• Miscellaneous Opening Costs:  $1,200 to $5,600
• Licensing Fees:  $0 to $6,000
• Accreditation Fees:  $0 to $10,000
• Insurance (3 Months):  $1,875 to $3,650
• Office Supplies:  $1,000 to $2,350
• Local Marketing (3 Months):  $6,000
• Recruiting Expenses (3 Months):  $2,250
• Additional Funds (3 to 6 Months):  $23,500 to $45,500
• Total Estimated ComForCare Home Care Franchise Costs:  $72,975 to $163,925

Section II – ComForCare’s Initial Franchise Fee, Royalty Fee, and Marketing Fee

• Initial Franchise Fee:  Standard Offering: $59,000; Reduced Initial Fee Offering: $29,500
• Royalty Fee:  Standard Offering: 5% of the Gross Sales with a Minimum Royalty Fee per month; Reduced Initial Fee Offering: 6% to 7% of the Gross Sales with a Minimum Royalty Fee per month depending on your month of operation
• General Service Fee:  1% of Gross Sales with a Minimum General Service Fee per two-week billing period
• National Advertising Fee:  1% of Gross Sales with a Minimum National Advertising Fee per two-week billing period
• Local Marketing Spend:  2% of Gross Sales

Section III – Number of Franchised and Company-Owned ComForCare Outlets

Franchised

2021

• Outlets at the Start of the Year:  204
• Outlets at the End of the Year:  212
• Net Change:  +8

2022

• Outlets at the Start of the Year:  212
• Outlets at the End of the Year:  218
• Net Change:  +6

2023

• Outlets at the Start of the Year:  218
• Outlets at the End of the Year:  228
• Net Change:  +10

Company-Owned

2021

• Outlets at the Start of the Year:  0
• Outlets at the End of the Year:  0
• Net Change:  0

2022

• Outlets at the Start of the Year:  0
• Outlets at the End of the Year:  0
• Net Change:  0

2023

• Outlets at the Start of the Year:  0
• Outlets at the End of the Year:  1
• Net Change:  +1

Section IV – News Updates on the ComForCare Franchise

Section V – Financial Performance Representations (Average Revenues and/or Profits) for the ComForCare Franchise (Item 19, 2024 FDD)

• This Item 19 contains historical financial performance data as provided by certain ComForCare franchisees. The representations made in this Item 19 are based upon the franchise system’s outlets existing for the period of time indicated below unless otherwise specifically excluded, as discussed below.

• The financial performance information included in Parts 1 and 2 below reflect average gross sales of ComForCare’s franchisees that: (1) were open and in operation during the entire period of January 1, 2023 through December 31, 2023 (the “Measurement Period”) and (2) have reported a minimum of 13 months of gross sales data (the “Included Franchisees”).

• ComForCare considers a franchisee to be “open and in operation” once they have completed their training and all assigned door opening tasks, and are able to provide, at least, unlicensed homemaker/companionship services within their protected area.

• The financial performance information presented below has been extracted from royalty reports provided to ComForCare by the franchisees. ComForCare has not audited this information, nor has it independently verified this information.

• The disclosure figures for Parts 1 and 2 do not reflect all other costs or expenses that must be deducted from the gross revenue or gross sales figures to obtain your net income or profit.

Part 1 – Gross Sales Information by Franchise Territory Operating at Least One Full Year

193+ Months

• Territories:  36
• Average Gross Sales:  $2,105,808
• Number/Percent Attained or Exceeded Average:  9 (25%)
• Median Gross Sales:  $1,313,342
• Number/Percent Attained or Exceeded Median:  18 (50%)
• Highest Performer:  $18,354,782
• Lowest Performer:  $44,630

145 to 192 Months

• Territories:  39
• Average Gross Sales:  $1,155,660
• Number/Percent Attained or Exceeded Average:  12 (31%)
• Median Gross Sales:  $731,083
• Number/Percent Attained or Exceeded Median:  20 (51%)
• Highest Performer:  $6,374,666
• Lowest Performer:  $15,977

97 to 144 Months

• Territories:  42
• Average Gross Sales:  $1,429,181
• Number/Percent Attained or Exceeded Average:  17 (40%)
• Median Gross Sales:  $1,157,691
• Number/Percent Attained or Exceeded Median:  21 (50%)
• Highest Performer:  $3,708,982
• Lowest Performer:  $68,841

73 to 96 Months

• Territories:  15
• Average Gross Sales:  $860,262
• Number/Percent Attained or Exceeded Average:  6 (40%)
• Median Gross Sales:  $713,582
• Number/Percent Attained or Exceeded Median:  8 (53%)
• Highest Performer:  $2,351,884
• Lowest Performer:  $71,178

49 to 72 Months

• Territories:  12
• Average Gross Sales:  $1,008,168
• Number/Percent Attained or Exceeded Average:  4 (33%)
• Median Gross Sales:  $754,494
• Number/Percent Attained or Exceeded Median:  6 (50%)
• Highest Performer:  $2,012,768
• Lowest Performer:  $255,061

25 to 48 Months

• Territories:  28
• Average Gross Sales:  $620,774
• Number/Percent Attained or Exceeded Average:  11 (39%)
• Median Gross Sales:  $437,919
• Number/Percent Attained or Exceeded Median:  14 (50%)
• Highest Performer:  $2,974,254
• Lowest Performer:  $8,433

13 to 24 Months

• Territories:  18
• Average Gross Sales:  $170,811
• Number/Percent Attained or Exceeded Average:  7 (39%)
• Median Gross Sales:  $124,024
• Number/Percent Attained or Exceeded Median:  9 (50%)
• Highest Performer:  $498,828
• Lowest Performer:  $13,171

Total/Average

• Territories:  190
• Average Gross Sales:  $1,191,388
• Number/Percent Attained or Exceeded Average:  61 (32%)
• Median Gross Sales:  $754,231
• Number/Percent Attained or Exceeded Median:  95 (50%)
• Highest Performer:  $18,354,782
• Lowest Performer:  $8,433

Part 2 – Gross Sales Information by Franchise Owner (Including Those with Multiple Territories) Operating at Least One Full Year

193+ Months

• Territories:  35
• Average Gross Sales:  $2,303,673
• Number/Percent Attained or Exceeded Average:  8 (23%)
• Median Gross Sales:  $1,450,669
• Number/Percent Attained or Exceeded Median:  18 (51%)
• Highest Performer:  $18,354,782
• Lowest Performer:  $44,630

145 to 192 Months

• Territories:  32
• Average Gross Sales:  $1,868,197
• Number/Percent Attained or Exceeded Average:  9 (28%)
• Median Gross Sales:  $1,158,306
• Number/Percent Attained or Exceeded Median:  16 (50%)
• Highest Performer:  $9,787,987
• Lowest Performer:  $299,601

97 to 144 Months

• Territories:  33
• Average Gross Sales:  $1,967,830
• Number/Percent Attained or Exceeded Average:  15 (45%)
• Median Gross Sales:  $1,534,507
• Number/Percent Attained or Exceeded Median:  17 (52%)
• Highest Performer:  $4,696,142
• Lowest Performer:  $350,258

73 to 96 Months

• Territories:  10
• Average Gross Sales:  $1,286,615
• Number/Percent Attained or Exceeded Average:  5 (50%)
• Median Gross Sales:  $1,137,220
• Number/Percent Attained or Exceeded Median:  5 (50%)
• Highest Performer:  $3,078,033
• Lowest Performer:  $267,143

49 to 72 Months

• Territories:  11
• Average Gross Sales:  $1,264,976
• Number/Percent Attained or Exceeded Average:  4 (36%)
• Median Gross Sales:  $729,878
• Number/Percent Attained or Exceeded Median:  6 (55%)
• Highest Performer:  $3,251,607
• Lowest Performer:  $255,061

25 to 48 Months

• Territories:  11
• Average Gross Sales:  $695,389
• Number/Percent Attained or Exceeded Average:  5 (45%)
• Median Gross Sales:  $540,929
• Number/Percent Attained or Exceeded Median:  6 (55%)
• Highest Performer:  $1,664,821
• Lowest Performer:  $8,433

13 to 24 Months

• Territories:  11
• Average Gross Sales:  $136,379
• Number/Percent Attained or Exceeded Average:  4 (36%)
• Median Gross Sales:  $107,649
• Number/Percent Attained or Exceeded Median:  6 (55%)
• Highest Performer:  $417,678
• Lowest Performer:  $13,171

Total/Average

• Territories:  143
• Average Gross Sales:  $1,687,270
• Number/Percent Attained or Exceeded Average:  47 (33%)
• Median Gross Sales:  $1,145,669
• Number/Percent Attained or Exceeded Median:  72 (50%)
• Highest Performer:  $18,354,782
• Lowest Performer:  $8,433

• Part 2 provides the annual gross sales reported by the franchisees, and aggregates gross sales for owners with multiple territories, regardless of the number of territories owned by those individual owners and the number of physical offices from which those individual franchisees operate. As a result, the data represented in Part 2 may be more favorable than the data reported by franchise territory as represented in Part 1 above.

• Of the 143 franchisees listed in Part 2, 46 of the included franchisees own multiple territories. Of those 46 included franchisees that own multiple territories, 1 has 6 additional territories, 1 has 3 additional territories, 4 have 2 additional territories, and 40 have 1 additional territory.

• The financial data in Part 2 excludes 22 territories that were open less than a full calendar year. Additionally, 7 territories were excluded because reports for the measured period were not all submitted.

• For the included franchisees listed in Part 2 that own multiple territories, ComForCare has grouped gross sales data for all of the territories they purchased under the oldest “Franchise Owner’s Time in Business” category.

• “Gross Sales” means the aggregate amount of all sales of services and the aggregate of all of the charges for all services performed (including service charges in lieu of gratuity) whether for cash or credit or otherwise, made and rendered in, about, or in connection with a Franchised Business including, but not limited to, revenue derived from sales of personal response systems, mileage charged to clients, and all proceeds from any business interruption insurance.

• In addition, “Gross Sales” shall include all revenues or receipts of any kind derived from the operation of the Franchised Business, including all services provided as a direct or indirect consequence of use of ComForCare Marks or any respect of the franchise system.

• The term “Gross Sales” shall not be modified for uncollected amounts. The term “Gross Sales” does not include any federal, state, municipal, or other sales, value added, or retailer’s excise taxes paid or accrued by a franchisee.

Part 3 – Systemwide Revenue by Source Percentage

• The information contained in the table below is historical, based on unaudited reporting by individual franchisees and may not be relied upon as a projection or forecast of what payer sources you may have in your Protected Area.

• The franchised offices that reported data for Part 3 below may not be the same as those reporting under Parts 1 and 2.

• The data in Part 3 was generated from the owner’s operational software.

2023 Systemwide Revenue by Source Percentage

• Private Pay:  50%
• Medicaid/State-Funded Programs:  28%
• Insurance:  15%
• Veterans’ Programs:  5%
• Miscellaneous:  2%

• “Private Pay” means that the client care is paid from their own (or their family’s) personal funds.

• “Medicaid/State-Funded Programs” means that the client’s care is paid in part, or in total, by government funded payor sources such as Area Agencies on Aging or managed care organizations.

• “Insurance” means that the client’s care is paid in part, or in total, through long term care, automotive, or workers’ compensation insurance policies. Insurance does not mean or include any sort of health care insurance.

• “Veterans’ Programs” means that the client’s care is paid in part, or in total, through programs offered by the US Department of Veterans Affairs.

• “Miscellaneous” means other revenue that a franchise business may obtain through such payor sources as personal response system providers.

Part 4 – Hours Billed by Franchise Owner (Including Those with Multiple Territories) – 2023 Calendar Year

• Average Hours Billed:  51,299
• Median Hours Billed:  39,499
• Highest Hours Billed:  245,001
• Lowest Hours Billed:  410

• Offices with multiple territories were counted as one for the purpose of this Part 4.

• The “Average Hours Billed” is based on aggregating the number of total hours billed by the reviewed offices over the 2022 calendar year then dividing that number by the total respondents.

Part 5 – Client Data by Franchise Owner (Including Those with Multiple Territories) – 2023 Calendar Year

• Average Number of Clients:  99
• Median Number of Clients:  70
• Highest Number of Clients:  450
• Lowest Number of Clients:  11

• Offices with multiple territories were counted as one for the purpose of this Part 5.

• The “Average Number of Clients” is based on aggregating the number of total clients serviced by the reviewed offices over the 2023 calendar year then dividing that number by the total respondents.

Section VI – ComForCare Franchise Ratios, Comparables, Computations, and Analyses (Exclusive Content for Platinum Subscribers) ⬇️