Buying a nursing staff franchise has potentially many key benefits when starting a new healthcare agency. Let’s take a look at some of those key benefits to understand the value of the proposition when entering a franchise.
This type of business opportunity has many pros and cons, but we will mainly look at the benefits and how they can affect your business decision.
Benefits n. 1: Plug and Play
When buying a franchise, you won’t have to worry about many aspects of the business startup process. This has already been done by the franchise, usually they will provide you with the forms that you will need, the logo that you will use, you will have to use the name of the franchise and the software will also be provided to you. You will have to follow their rules and processes. Nothing you will have to do will be unique to your franchise. The franchise has rules that you will have to follow, and as long as you follow those rules, you can continue to run the franchise.
Profit n. # 2: As long as you’re willing to spend, you’ll be fine.
Buying a franchise can be expensive – typically, fees range from $ 25,000 to $ 100,000 for the franchise fee. The franchise fee is the fee they will charge you to allow you to use their name. The franchise will expect you to represent them in such a way that they determine what it will look like. You are expected to rent a location, buy furniture, buy your software, etc.
Profit n. 3: continuous support
You will be charged an ongoing franchise fee and that fee will depend on your gross sales. Sometimes the fee starts at a certain monthly amount and increases as your gross sales increase. The franchise fee is in effect for the franchise company to continue to support you and the license fee to continue using your name. Rates can vary, but you can typically expect 5-10% of gross sales.
Profit n. # 4: sell the franchise
This is a great benefit, because when at one point you feel that this business is no longer what you want and you want to sell it, they usually help you sell the franchise. Usually you will have to pay what is called a “sale multiplier”, basically, which means that you will only get a certain percentage of the sale minus the expenses that you owe to the franchise. This is something you should be aware of because the franchise is never really yours, it belongs to the franchise company, and you have to follow the rules.
If you have it, some of the key benefits of buying a nursing franchise. You will need between $ 100,000 and $ 250,000 to open a nursing franchise and be willing to pay the franchisee a monthly fee for the life of the business and as long as you own it.