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 1.99% and commences 3 months from the date you gain registration and start trading.
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.
What Finance is Available?
We will look at the funding you have available and if start up funding is required we can introduce you to our finance companies. They know our business plan and will work with you to double check our figures and then ask you more questions about your personal finances. Each discussion will be individual to your requirements. They may be able to loan your company 60%-70% of the overall funding required or you may only need a smaller government backed start up loan.
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 2019 though take advantage of the My Homecare franchise prices now, as we are scheduling start-ups 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..
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