Hey there and welcome to the October edition of The Fran Beat.
When you say October, a lot of things come to mind, right? Like Fall colors, football, post-season baseball. But the big mac daddy of them all, of course, is Halloween.
Over the years, Halloween has become quite the retail juggernaut.
Want some facts?
🎃 Fun Fact 1: According to the National Retail Federation, consumers will spend $10.14 billion in 2021 — an all-time high and major increase from the $8.05 billion spent last year.
🎃 Fun Fact 2: Around 65 percent of Americans plan on celebrating Halloween in 2021, which is higher than last year's 58 percent. Individually, people plan to spend $102.74 on their Halloween experience by purchasing decorations, candy, costumes, and greeting cards.
Yep...this is a big event. And here's one more fact for you. Between parties and trick-or-treating, the average child will consume about 3 cups of sugar on Halloween. 😲
This month we have two unique opportunities within healthcare. This is certainly not the type of business for everyone -- we get it. But for those that want to build a business in an industry that is never going away, that also serves the community...please read on.
(A game changer!)
Doing Good By Being Profitable
There has been much reported on the physical toll COVID-19 has taken on this country. It has also fueled a surge in mental health issues.
According to the 2021 State of Mental Health in America report, the U.S. is experiencing the highest levels of anxiety and depression since the pandemic hit our shores in March of 2020. The loneliness and isolation are impacting not only adults but also children.
Mental health is a concerning situation and Ellie is trying to do its part to help. So, let's dig into what Ellie does and why it might be a smart opportunity for you.
The Background Story
Ellie's mission is to better the lives of everyday families through the creation and delivery of innovative and customized wellness programs, goods, and services. A simple concept. But one that is completely new to mental wellness.
The organization was started by Erin Pash and Kyle Keller. Both have backgrounds working in government and nonprofit mental health agencies. Once practicing in the real world, both felt frustrated with what they saw as the slow pace of bureaucracy. They felt tangled in the miles of red tape that goes along with this kind of work.
Simply put, they were burnt out. They realized the system was broken, and they wanted to fix it.
We include this story because it's this pain and the belief that there could be a better way - and that lead to the creation of Ellie. To fill the gap in mental illness.
Enter Ellie Mental Health - A Semi-Passive Franchise Opportunity
Given the nature of this business, unless you are currently a licensed therapist, Ellie requires a clinical director be hired. This person will be responsible for running the day-to-day operations from the very start. This is the secret sauce to the success of this brand. Also, the clinical director will recruit your entire team of therapists. (keep reading, it gets even better...)
Service Provided at Ellie's Clinics
Part of filling the gap is providing many different services under one roof. Which as the owner, means providing multiple revenue streams. These services include:
✅ Outpatient mental health
✅ Medication management
✅ Children's mental health specialists
✅ Group & workshops
✅ Web-based mobile options
✅ Clinical training & supervision program
✅ Co-parenting institutes
✅ Medication assistance
✅ Embedded services
When it comes to the type of support from this brand, it's top notch. They have you covered with a comprehensive offering.
- ✅ Real Estate: Their staff will help you in the site selection and lease negotiation to find the ideal site for your franchise.
- ✅ Finance: Their team can provide assistance with loan processing through the SBA and preferred financiers.
- ✅ Site Build Support: They will be with you through the entire build-out process from corporate-approved layout and general construction to interior design and on-site technology.
- ✅ Marketing: Once you sign your lease agreement, the marketing of your location begins with personalized support to set up social media and marketing materials to generate business.
- ✅ Recruitment: We'll support you in hiring the most qualified clinic directors and therapists.
- ✅ Training: You'll attend a comprehensive training course, an annual franchisee convention, and opportunities to connect with subject matter experts.
In addition, Ellie also has a suite of back-end support systems that will free you up to focus on growing your business. They provide:
- ✅ National Call Center: No receptionist needed. All new patients will be scheduled on each therapist's calendar. Seven days a week.
- ✅ Matching Service: Their in-house scheduling team will connect new patients to your therapists via their matching platform. This means your therapists are counseling patients within their field of expertise.
- ✅ Medical Records and Billing: Ellie's Electronic Health Record System with integrated billing ensures all of your client records remain compliant and your insurance claims get processed. This is a big plus for you!
- ✅ Credentialing: The Ellie credentialing partner panels your licensed therapists with insurances to receive the best in-network rates for your services.
With all of this included in your investment, you may be wondering what you will do. Well, not much really. Aside from managing your KPI's, Ellie allows its owners to be as involved in the day-to-day operations as they want. Otherwise, networking to local schools, hospitals, police departments, etc is needed. But again, your clinical director can take care of this as well.
In summary, we at TFC have yet to find a more passive option with a strong Item 19, and low investment. Seriously.
We understand this is not the type of business for everyone. But for those that have a passion for mental health and want to be part of a franchise that is literally improving the mental health industry, this is something worth exploring. Trust us.
(an Authority Brand)
We all know healthcare is big. But just how big is big?
According to the Centers for Medicare and Medicaid Services, U.S. national healthcare expenditure reached $3.8 trillion in 2019, or $11,582 per person, and is estimated to reach $6.2 trillion by 2028.
On top of this our country is getting older.
The Aging Of America
The number of Americans ages 65 and older will more than double over the next 40 years, reaching 80 million in 2040. That number is amazing.
But the number of adults ages 85 and older, the group most often needing help with basic personal care, will nearly quadruple between 2000 and 2040. This according to Urban Institute.
The fact is, we are an aging country and many will need some type of assistance in their later years. Many of those seniors will want care within the comfort of their own homes.
Enter Homewatch CareGivers.
Homewatch CareGivers began in 1980 with a simple business philosophy: focus on the importance of the human interactions between professionally-trained caregivers and every client.
This approach has worked. Today, Homewatch CareGivers is now a part of Authority Brands, LLC with 108 franchise owners and 198 territories (according to their current FDD). It exists to provide service to those that need it most.
Elder Care: Assisting the elderly to help them live as safely and independently as possible.
Dementia Care:Their specially trained memory care experts can develop a unique plan of care that can be modified as the person's abilities change with condition progression.
Care for Chronic Conditions:This is designed for those with diabetes, cancer, or degenerative disorders—for example, ALS, Parkinson's disease, arthritis, or multiple sclerosis—can make even simple activities difficult.
Hospital Discharge Care: Caregivers are trained for the transition from hospital to home and are there every step of the way.
Respite Care: If you are the primary caregiver, you may need a break from time to time. Caregivers can provide temporary short-term care while you tend to your own health and well-being.
Additionally, they provide senior transportation, companion care, personal care, and more, from once a week to 24-hour care.
In short, they want to help people find the type of care they need - whether it's full time, a few hours a week, or only on an emergency basis.
There is so much we can tell you about this brand. But for now, we'll stick the main details, and if you would like to know more - please reach out. We'll hook you up.
So let's get to the main points. Starting with 💲 💲 💲 ... ⬇️ ⬇️ ⬇️
Do we have your attention now? Listen, Covid has done nothing but help this industry.
Our loved ones want to age at home, and stay out of assisted living facilities. There is a very high ceiling in the Home Care world.
A few more points we want to touch on:
- ➡️ Competition. Yes, there are a lot of brands out there in this industry. We know. But listen. You only need less than 1% of your territory market share to achieve that Revenue number above.
- ➡️ Turnover. We know that's what you're thinking - the turnover rate in this industry is high, right? The national average turnover rate is close to 90%. But not with HWCG. When you go through validation, you will discover their rate is well under this - averaging closer to 30%. No joke. It's all in their recruiting and training.
- ➡️ Saving the best point for last. For the right fit, Homewatch CareGivers will allow for a semi-passive investment option. Yep! You could possibly keep your current gig while investing in this franchise ownership.
If you'd like to jump on a quick call with us to learn more, or find out if Homewatch CareGivers is available in your area, click below.
If you liked this newsletter and thought it brought you some value, please forward it to a friend. Thanks! 👊
See you in November. Until then...Go get yours.
Team TFC - THE Franchising Company
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*Based on 78 franchisees who operated a total of 140 territories and who reported gross revenue greater than $0 for all 12 months of the 2020 calendar year. The franchisees' sales information is not audited. Your individual results may differ. See Item 19 of our 2021 Franchise Disclosure Document (FDD) for further details.
TFC does not represent, warrant, undertake or guarantee that the information in the newsletter is accurate, complete or non-misleading. Recipient acknowledges that it has not relied on any statement made by our brokers in our candidates determination of whether or not to become a franchisee or enter into any relationship with the Franchise. The candidate has conducted or will conduct, prior to signing any agreement with respect to the Franchise, its own due diligence on the Franchise and has not and will not rely on any representation whatsoever of our brokers.