Risk Score
Pending analysis
Investment Range
$119,825 - $521,500
Franchise Fee
$40,000
Total US Locations
6
Business Summary
2nd Family operates a personal assistance and non-medical home care business. The franchised business provides non-medical assistance, care, and companionship to clients in their homes or temporary living facilities. Services offered by 2nd Family include help with personal care, meal preparation, medication reminders, light housekeeping, transportation, and general companionship.
Corporate History
2nd Family Franchising, LLC was formed in Maryland on February 20, 2017. Its parent company, 2nd Family Holdings, LLC, was formed on the same date. An affiliated company, 2nd Family Home Health Services, LLC, has operated a non-medical senior care business using the '2nd Family' marks since May 2012. 2nd Family Franchising, LLC began offering franchises on September 1, 2017.
Financial Overview
Investment Range
$119,825 - $521,500
Franchise Fee (Low)
$40,000
Franchise Fee (High)
$60,000
Royalty %
5.5%
Equipment Costs (Low)
$2,100
Equipment Costs (High)
$18,000
Working Capital
$30,000
Audited Financials
Yes
Offers Financing
No
Audit Opinion
Unqualified opinion
Financial Health Notes
The 2nd Family Franchising, LLC's financial condition, as shown in its financial statements, raises questions about its ability to provide services and support to franchisees. This is listed as a special risk for potential franchisees to consider.
Financing Details
2nd Family Franchising, LLC does not offer any direct or indirect financing to its franchisees. 2nd Family Franchising, LLC also does not guarantee any notes, leases, or other obligations on behalf of its franchisees.
Performance Metrics
Total US Locations
6
Franchised Units
5
Corporate Units
1
Franchising Since
2017
Legal & Compliance Analysis
Recent Litigation
No
Bankruptcy
No
Litigation Summary
2nd Family Franchising, LLC has no litigation that is required to be disclosed in Item 3 of its Franchise Disclosure Document.
Bankruptcy History
2nd Family Franchising, LLC has no bankruptcy history that is required to be disclosed in Item 4 of its Franchise Disclosure Document.
Agreement Terms
Initial Term
10 years
Renewal Term
10 years
Renewal Conditions
To renew their 2nd Family franchise agreement, franchisees must be in full compliance with their current agreement, not have defaulted more than three times during the current term, and provide written notice at least six months before the term ends. They will need to sign a new franchise agreement, pay a $5,000 successor agreement fee, upgrade their business assets to meet current specifications, sign a general release, and comply with current qualifications and training requirements, including any additional training.
Training & Support Program
Franchisor Assistance
2nd Family Franchising, LLC assists franchisees with pre-opening obligations, including designating territory boundaries, providing access to the confidential Operations Manual, supplying a list of required equipment and supplies, delivering initial training at its headquarters in Eldersburg, Maryland (or virtually), and offering samples of advertising materials. After opening, 2nd Family Franchising, LLC provides optional on-site or virtual training, offers mandatory additional training programs and annual conventions (up to three days each per year), provides individualized assistance by phone, video conference, email, or postal service, maintains the 2nd Family website with a link to the franchisee's business, suggests selling prices, and approves all franchisee advertising.
Initial Training Hours
50
Training Location
Eldersburg, MD/ Webinar
Ongoing Support
After opening, 2nd Family Franchising, LLC offers optional one-day on-site or virtual training, and may require franchisees to attend mandatory additional training programs for up to three days per year. Franchisees must also attend an annual business meeting or national convention for up to three days per year. Individualized assistance is provided within reasonable limits via telephone, video conference, email, or postal service. 2nd Family Franchising, LLC also provides advertising materials, maintains a website link to the franchisee's business, suggests selling prices for services, and approves all proposed advertising campaigns.
Franchise Requirements
Industry Experience Required
No
Management Experience Required
No
Sales Experience Required
No
Technical Skills Required
No
Operational Details
Location Type
Hybrid
Owner Participation
Hands-On
Territory Type
Protected
Territory Size Requirements
2nd Family territories are defined individually, covering all or a portion of a town, city, or county, and identified by contiguous zip codes. Each territory must have a minimum population of 40,000 individuals over the age of 65, based on the most recent census data and determined by a third-party mapping service. The definition considers demographics, minimum household numbers, and household incomes.
Staffing Notes
2nd Family franchisees are required to employ sufficient staff to operate the business efficiently. All employees must adhere to 2nd Family's dress code and wear identifying badges. Caregivers must be qualified, trained, and licensed, including having current licenses as certified nursing assistants or equivalent state requirements. A registered nurse must serve as the Director of Nursing. Before hiring, franchisees must conduct background checks on all prospective employees, particularly those entering clients' residences, and must not hire individuals with a propensity for violence, dishonesty, or criminal convictions.