The Offering
When you decide to take up the care home FRANCHISE opportunity you will need to invest two things into your business; firstly, commitment and effort that will allow you to drive the business forward and, secondly, the financial investment that will get the business off on a sound footing.
The Offering
When you decide to take up the care home FRANCHISE opportunity you will need to invest two things into your business; firstly, commitment and effort that will allow you to drive the business forward and, secondly, the financial investment that will get the business off on a sound footing.
Investment
The first element of this financial investment in this opportunity is going to be the ‘Goodwill’ to buy into the business. This typically forms the largest part of the total investment required.
However, you will also need some additional working capital to fund the business so there is help with business planning to ensure funds are correctly structured.
The Goodwill is to buy into the business and includes the following:
An agreement that gives you the right to use the operational systems that have been developed
The non-fixed assets would become yours and then your responsibility to replace
All Intellectual Property to run the care home
3 Months Training (Sales, Operations & Finance). Training in all aspects of the system. This will include training in all the compliancy issues that will allow you and your team to operate as a CQC Registered care home.
CQC Registration transfer
Business Bank account
A 5 year full “repairing and insuring lease” over the home and all the equipment in it, with an option to renew at the end of it.
All the IT Systems in place for you:
- Accounting package
- Payroll package
- Staff Time & Attendance System
- Care Planning and Recording System
- Medication Management System
- Website content
- Policies & Procedures
- Resident & Staff contracts
Set-up Costs that are not covered by in the Goodwill payment:
- Legal and Professional Fees associated with setting up the business and due diligence on the legal agreements
- Working Capital
Total Investment
The total initial investment requirement is, therefore, likely to be in the region of £250,000 but this will be confirmed in more detail when your Business Plan has been drawn up. We have good relationships with potential funders if you need to borrow part of the funds, but you should be aware that most of the banks will only lend on a 50/50 basis – that is to say, they will match whatever funding you have available.
It is very hard to move into the care home sector without substantial funds for the level of property investment needed, covenants and working capital. Our client has the perfect solution, buy into the operational element of the sector, and:
…you get to run and grow your own local care home but with the benefit of ongoing support in the form of landlord agreements, facilities management and care consultancy on hand.