Caring Senior Service Franchise
Audited FinancialsRisk Score
Pending analysis
Investment Range
$97,892 - $131,656
Franchise Fee
$24,500
Min Cash Required
$30,242
Total US Locations
56
Business Summary
Caring Senior Service operates a business that provides non-medical assistance to the elderly and to disabled or infirm adults at their homes or places of residence. The business offers in-home companion care and personal care services, and may also include the retail sale of related products like personal emergency response systems and home safety monitoring systems. Caring Senior Service franchisees offer services aimed at improving the quality of life and enabling independent living for clients.
Corporate History
Caring Senior Service Franchise Partnership, L.P. was formed as a Texas limited partnership on September 7, 2001. Its President and Founder, Jeff Salter, began his first non-medical assistance to the elderly business in 1991 in Odessa, Texas. The company began selling Caring Senior Service franchises in February 2002.
Financial Overview
Investment Range
$97,892 - $131,656
Franchise Fee (Low)
$24,500
Franchise Fee (High)
$49,000
Minimum Cash Required
$30,242
Royalty %
5%
Marketing %
2%
Equipment Costs (Low)
$5,000
Equipment Costs (High)
$9,000
Working Capital
$37,000
Audited Financials
Yes
Offers Financing
No
Audit Opinion
Unqualified opinion
Financial Health Notes
As of December 31, 2023, Caring Senior Service's financial statements showed a working capital deficit of $118,742 and a partners' capital deficit of $339,368, which initially raised substantial doubt about its ability to continue operations. However, management has since implemented cost-cutting measures and sales increases, resulting in an approximate net income before depreciation of $125,000 and positive working capital of about $100,000 by May 15, 2024. The company is also eligible for approximately $370,000 in Employee Retention Credit proceeds. These actions are considered to have alleviated the initial concerns about Caring Senior Service's ability to continue as a going concern.
Financing Details
Caring Senior Service does not offer any direct or indirect financing to its franchisees. Additionally, Caring Senior Service does not guarantee any notes, leases, or other financial obligations that franchisees might incur.
Performance Metrics
Total US Locations
56
Franchised Units
51
Corporate Units
5
Avg Square Footage
725
Franchising Since
2002
Legal & Compliance Analysis
Recent Litigation
No
Bankruptcy
No
Litigation Summary
Caring Senior Service has no litigation history to report in Item 3 of its Franchise Disclosure Document. This means that neither Caring Senior Service nor its management has been involved in any material legal proceedings that require disclosure.
Bankruptcy History
Caring Senior Service has no bankruptcy history to report in Item 4 of its Franchise Disclosure Document. This means that neither Caring Senior Service nor its management has been involved in any bankruptcy proceedings.
Agreement Terms
Initial Term
5 years
Renewal Term
5 years
Renewal Conditions
To renew their franchise agreement, Caring Senior Service franchisees must: provide written notice 6 to 9 months before the current term expires; be in substantial compliance with all agreements with the franchisor and its affiliates; be compliant with all GreatCare certification requirements for their staff and caregivers; execute the franchisor's then-current franchise agreement and other ancillary agreements, which may have materially different terms but will not require a further initial franchise fee; have the right to remain in possession of their business premises or secure a new approved location; if relocating, the new location must comply with the new agreement's requirements; if not relocating, repair and update the existing premises to meet current System standards; be current with all monetary obligations to the franchisor and its affiliates for the preceding 12 months; execute a general release of claims against the franchisor and its officers, directors, and shareholders; and pay a renewal fee of $5,000.
Training & Support Program
Franchisor Assistance
Before a Caring Senior Service franchise opens, the franchisor consults on the approved location, provides guidance on equipment and signs, and lends a digital copy of the Operations Manual. Initial training for up to three people is included in the initial franchise fee, with one week virtual and one week in-person at headquarters. After opening, for the first franchise, Caring Senior Service provides weekly phone calls for 16 weeks to discuss operations and a 2-day on-site visit during the first two months. Ongoing assistance includes guidance through correspondence, field visits, and phone/written communications covering topics like services, pricing, administration, and operating procedures. The franchisor also offers ongoing training through its online platform, Caring University, and in-person programs, with mandatory re-certification for caregivers every two years. Periodic mandatory meetings or conferences may also be held, for which franchisees pay for materials and registration, though the attendance fee is currently reimbursed.
Initial Training Hours
105
Training Location
Hybrid: virtual and in-person at corporate headquarters in San Antonio, Texas
Ongoing Support
After opening, Caring Senior Service franchisees receive various forms of ongoing support. For the first franchise, there are weekly phone calls for the initial 16 weeks and a complimentary 2-day on-site visit during the first two months to review operations and address questions. Ongoing guidance and assistance are provided through periodic correspondence, field visits, and phone or written communications, covering topics such as products and services, pricing, administration, bookkeeping, accounting, inventory control, and operating problems. The franchisor also offers continuing or refresher training programs, including through its online platform, Caring University, and may designate these as mandatory for franchisees and their key employees. Caregivers and other certified personnel must be re-certified every two years. Additionally, Caring Senior Service may hold periodic mandatory meetings or conferences for franchisees to discuss new products and services and provide additional training, with fees for materials and registration, though attendance fees are currently reimbursed if attended.
Franchise Requirements
Ideal Candidate Profile
Caring Senior Service seeks individuals to operate businesses providing non-medical assistance to the elderly and disabled or infirm adults in their homes. While the FDD does not explicitly outline an 'ideal candidate profile' with specific background or experience requirements beyond the need for an Agency Director to complete training, it implies that franchisees should be capable of managing a business in a highly competitive market, complying with federal, state, and local licensing and regulatory requirements, and adhering to the franchisor's detailed operational standards and systems. The franchisee or their appointed Agency Director must devote full-time and best efforts to the management and operation of the Franchised Business, and must hire a Care Manager and Homecare Consultant. Franchisees are expected to understand and be willing to undertake the business risks involved, including those related to market competition and regulatory changes in the healthcare field. If the franchisee is an entity, one of the owners may serve as the Agency Director, Care Manager, or Homecare Consultant, but these three positions must be held by different individuals. Owners must also sign a Continuing Guaranty, indicating a requirement for personal commitment and financial responsibility.
Industry Experience Required
No
Management Experience Required
No
Sales Experience Required
No
Technical Skills Required
No
Operational Details
Location Type
Commercial
Owner Participation
Supervisory
Territory Type
Protected
Staff Count
3
Territory Size Requirements
Caring Senior Service territories are geographically defined and are described in Exhibit A to the Franchise Agreement. Each territory must include a minimum population of 200,000 people, with at least 10% of that population being age 65 or older. These population figures are calculated using the franchisor's designated mapping software. The boundaries can be defined by street boundaries, town boundaries, or contiguous zip codes, or drawn on a map.
Staffing Notes
Each Caring Senior Service business needs a minimum of three distinct individuals for key positions: an Agency Director, a Care Manager, and a Homecare Consultant. If the franchisee is a business entity, an owner can serve in one of these roles, but each position must be held by a different person. The Agency Director, whether the owner or a hired employee, must complete initial training to the franchisor's satisfaction and dedicate full-time effort to managing and operating the business. The franchisor recommends, but does not require, that the franchisee owner serve as either the Agency Director or Homecare Consultant. Franchisees are responsible for hiring and training all employees and must ensure their Agency Director and other key personnel sign confidentiality and non-competition agreements. Staffing levels are expected to grow with business volume, and additional or different staffing requirements may be imposed for second and subsequent franchise businesses.