The Business Opportunity
If you’re looking for a new business venture, the home care sector presents a vast range of opportunities. Not only is the need for the service evident now more than ever, but recent events and ongoing trends have shone an even brighter light on the need for safe and high-quality home care businesses and home care franchise business models.
What is the home care business market like?
The home care market presents huge potential for our franchise partners to grow and thrive. Population trends present more opportunities for capturing market share within the privately paying, self-funding home care market.
The market is in high demand – growing year on year, so the chance of saturation is lower. In fact, the UK home care market was valued at USD 1.50 billion in 2022 and is expected to grow to USD 2.60 billion by 2030.
Those needing support and wishing to live at home are not looking for a short-term fix for their care needs; they are looking for a solution that can be built upon over the long term to enhance their quality of life.
Putting it into perspective…
What is the investment opportunity with Bridgewater Home Care?
Your franchise package includes access to all the tools and materials you will need for a successful launch, as well as ongoing support and resources to help you grow your business and realise the amazing personal and financial rewards that a Bridgewater Home Care franchise can bring.
- The initial franchise fee is £35,000 + VAT
- Total working capital requirement: £100,000 – £120,000
- You will receive your own exclusive territory in the UK
- You will gain access to a wealth of expertise and knowledge
- A low monthly service fee
What are Bridgewater’s financial projections for franchisees?
As a Bridgewater Home Care franchisee, you will have access to the unique operational and business practices we have developed.
We expect new franchise offices to reach a break-even point before the end of the 1st year of trading, with expected net profits of between 15% and 20%, before franchisee earnings.
As we grow with a strong pool of talented and ambitious Franchise Partners, our growth is your growth.
We have developed an excellent reputation with major high-street banks that specialise in the franchising sector. Due to the success of the business model, Bridgewater Home Care franchisees can access bank funding of up to 70% of the total investment requirement. For more information, check out our FAQs page.
Franchises vs independent business models: which is a better investment?
General awareness of home care franchises is pretty low amongst entrepreneurs, which is why it’s a great business opportunity to be part of.
And, when compared to independent business models it can provide more benefits that make it a better investment. Other benefits include:
Reduced risk
There’s less risk involved in joining a franchise, simply because the business model has been tested and the brand is established. As a result, you won’t have to worry about initial teething problems. You can just get to work.
Existing demand
A franchise business already has existing clients and therefore demand. Unlike an independent business model where you have to build your brand from nothing, there’s a higher level of brand awareness when joining a franchise. This makes it easier for you to attract clientele in your exclusive territory, so you don’t have to worry about failing to meet targets.
A balance of independence and support
When joining a franchise, you get to experience the best of both worlds when it comes to a mixture of independence and support. You’ll get to benefit from guidance from the franchisor, but will still be able to function independently as a business.
If you’re interested in finding out more about the advantages of being a franchisee with Bridgewater Home Care, check out our blog for more details.
What are the challenges of being a franchisee?
Like any business opportunity, being a franchisee can be challenging. For example, you might encounter the following obstacles:
Initial investment
You’ll have to invest initially in the franchise you decide to join, which can be hefty. However, depending on the business model, you’ll likely make this back within a short amount of time. At Bridgewater, we expect our franchisees to see a return on investment within two years.
Lack of flexibility
Franchisees can also suffer from a lack of flexibility from their franchisor. For example, the franchisor might have certain expectations that mean the franchisee can’t run their business the way they’d like to. Bridgewater Home Care offers a balance between an established tried and tested system and offering flexibility to our franchise partners.
Lack of support
Similarly, franchisees might also receive little training support from their franchisor. For example, they might be hard to get in touch with or simply unhelpful with little practical experience. However, this depends on the franchise you decide to be a part of, as at Bridgewater, the support for our franchisees is extensive, and even includes 1-1 mentoring with our founder, Phil Eckersley.
So…what are you waiting for? Reach out to Bridgewater today to begin your franchisee journey
If you’re interested in becoming a part of a franchise in the home care industry, a franchise with Bridgewater Home Care might be the best option for you.
Our franchise team is here to help you establish your own existing territory, and reap the rewards of being a part of a successful business model. We provide:
- Mentorship training from our founder, Phil – a former franchisee who knows the industry back-to-front
- Care management software to make your life much easier
- Marketing resources to get the word out about your local services
- Online systems so you can work anywhere
- And much more!
Want to find out what we can offer you? Get in touch with us today by making an enquiry on our contact form, or call 01942 215 888.
