Frequently Asked Questions
Your Business Support … helping you on your journey to success
As you build your franchise, the support offered by My Homecare will play a vital part in making sure that your business is a great success.
My Homecare boasts experience of starting on a tiny budget and growing to a multi-million pound business. Our help and numerous industry-leading resources, will be at your fingertips so you too can benefit.
Whether you need innovative ideas on how to market your business from our marketing team, you need advice hiring staff or giving training to new members of staff, we are there to provide support whenever you need it.
We understand how daunting launching your own business can be and we will be there to help you succeed every step of the way!
Let us answer some of your questions…
Can I work from home?
You will need an office with commercial planning permission to get registered and commence trading. You can start from home but will need a proper office within the first three months of you deciding to open your business.
What is a Management Fee?
Our monthly management fee covers many aspects including:
~Our ongoing support
~Compliance with regulations
~Financial advice and assistance in maintaining high-profit margins.
Of course you will also be trading using the trusted My Homecare brand, seen as a quality care service provider by your local authority, NHS and private customers.
Our management fee is charged at 3% and commences 3 months from the date you gain registration and start trading.
What is a Capped Management Fee
Only with My Homecare franchise, will you pay a low 3% management fee.
Then when this monthly payment reaches an agreed maximum, it is capped and gets no higher.
This means simply that once your company is established, your management fee costs to us do not grow with your sales.
What is working capital and how much will I need?
Working capital is the amount of money required for the first 6-9 months to effectively open your company. From experience and the other successful My Homecare branches, we project this to be between £30,000 – £35,000.
Working capital requirements may differ depending on your location. The My Homecare experts will research and complete financial projections for your agreed territory.
How much money will I make?
Average established small branches turn over between £500,000 and a million pounds each year. Our role is to get you established sooner, build your company to provide high quality care services and provide you with the best profit margin possible. My Homecare start-up training will increase your margins from the beginning.
Our team have experience building multiple branch companies and winning large local authority and NHS contracts. We will work with you until you reach your individual targets no matter how big or small you wish to grow.
What makes us different from other franchises and why are our costs so much less ?
My Homecare provides a similar service to other, more costly care franchise companies. We use a small group of proven industry experts to help you. Our small consultant group of experienced senior management people whom we have worked with for a long time and trust profoundly, work directly with you the franchisee. Our team do not exceed their limits and help you receive will not be from someone inexperienced in running a successful care company.
Our low prices allow us to attract investors to our network.
Our low monthly management prices, allow the investor to take the biggest profit margin possible from their care business. Our business model is quite unique to all care franchise companies providing our level of service, as it allows the investor to make good margins and returns from Local Authority and Continuing Healthcare. Chose our help tendering for a multi-million pound contract!
Our prices remain the same throughout 2018 though take advantage of the My Homecare franchise prices now, as we are scheduling startups towards the end of the year.
Who are Our Customers?
People in your community who require assistance to remain living in their own home. Some of these people first access My Homecare services through their local authority or GP, whereby others search for help through reading adverts in directories or searching the internet.
As your company grows you may consider secondary streams of income by providing day care, residential care, nursing care, supporting people, meals on wheels etc..
What help, initial training and on-going support is provided?
We firstly examine your personal circumstances and requirements, helping you structure, register and open a company. By asking many questions our team ensures your business plan is developed specifically to your territory, examining demographics, start-up costs, competitors etc.
Once structured and planned we normally begin the CQC application or if outside England, your regulatory bodies registration process.
During this time and before our final registration inspection, five days of comprehensive care business training is scheduled for as many senior managers in your organisation as you feel necessary. Training is facilitated at our registered training office in Durham, by our My Homecare trainers and a number of external specialist speakers.
Once trained we suggest you open your branch offering reduced homecare services, which will not include personal care.
Our support and our rapidly growing network of support is then on-going whenever you need it, for as long as you wish.
During your start-up, transfer your calls to our registered office and we will deal with your referrals, while you get out there and network.
Example of some of the topics covered in Business Training
- Concepts of Care – Your mission statement
- Registered Manager Certification
- Introduction to Care Quality Commission (or equivalent)
- Health and Safety, Safe Guarding, Computer Management, Software Training
- Introduction to Moving & Handling, First Aid, Medication
- Demonstration of working documents eg Care Plans, Employee contracts
- Staff training and Development, Skills for care certificate
- Quality Assurance and Auditing
- Marketing and Advertising including Logo design if Partner Package, advertising templates
- Website branch page development and amendment instructions
- Finance – Book keeping, Budgeting, Tax, PAYE
- Stationary and marketing starter pack including uniforms
- Your local authority / continuing care group networking
- Operations Manual containing course info and handouts.
Exclusivity of your territory
- Care Management Help Line: 9am – 4.30pm Monday – Friday
- Branch page advertising on our national website
- Access to Senior manager owner support network of My Homecare
- Budgetary assistance
- Senior consultancy meeting at your premises bi-annually
- Reservation at our annual conference
- Regular newsletters
- Access to Members webpage which will contact procurement and other opportunities
- Direction and assistance with tendering for local authority and NHS contracts