Hallmark Homecare was featured in the Wolf of Franchises’ “Wolf Report” which is a weekly analysis of franchise brands and the entrepreneurs behind them. The Wolf Report is written for current and aspiring franchise owners who want to find the next big brand. For those looking for emerging franchises with promising financials, the Wolf Report is a place to get it.
Here is a portion of the text regarding Hallmark Homecare:
“Fast Facts
Background
· Founded in 2012, franchising since 2019
· Based in Nevada; 5 franchise locations
· Helps clients hire caregivers for elderly family members
Fees + Investment
· Royalty: 6% of gross sales
· Brand Fund: 1% of gross sales
· Franchise Fee: $50,000
· Initial investment: $60,000 – $77,000
The Wolf’s Take
Financially, the 3 year performance looks great, especially given the investment tops out at $77,000.
In addition to the numbers, it’s a business that you can run from a home office and requires no employees to be hired. As I discussed a few weeks back with Mobility 101, there’s also tailwinds for any businesses targeted at seniors:
· By 2030, all baby-boomers will be age 65 or older
· There are 73M baby-boomers nationwide, aged between 57-75 years old
· Until 2030, 10,000 baby boomers will hit retirement age every single day
Hallmark’s Model
While I’m no expert on the ins and outs of senior care, Hallmark claims to be able to find caregivers for families at a much lower cost than traditional players in the industry.
The standard model seems to be an agency model i.e. caregivers sign with agencies, who then handle all the work of placing them, but in exchange for being the middle-man they have to boost prices to ensure they are profitable.
Meanwhile, Hallmark franchisees are able to go directly to caregivers and match them with a family. The main value add from the franchisee is they’re able to throughly vet caregivers so that families can rest easy knowing they’ve chosen a trustworthy caregiver.
What wasn’t clear to me was how they’re able to access these networks of caregivers that aren’t tied up in the agency model.
Nonetheless, if you’re interested in this industry and a low cost + low overhead model, it’s worth looking into!”