Risk Score
Pending analysis
Investment Range
$130,900 - $507,650
Franchise Fee
$25,000
Min Cash Required
$30,000
Total US Locations
5
Business Summary
Elder-Well operates businesses that provide individualized, non-medical, social-supportive day services to aging adults. These services use the Elder-Well proprietary business system and trademarks to offer care to seniors and support their caregivers. The business focuses on bridging care gaps for aging adults who need assistance with daily living, companionship, medication, nutrition, and therapies, including those with cognitive impairments or dementia. Elder-Well does not provide medical services.
Corporate History
Spend The Day Franchising, Inc., doing business as Elder-Well, was formed as a Massachusetts corporation in June 2019. The company began offering franchises in September 2019. Prior to franchising, the owners operated a similar business called The Constance Rose House Adult Day Program in Massachusetts from November 2014 through November 2018. An affiliate, BSocial, Inc., began operating an Elder-Well location in February 2021, which also serves as a corporate development center.
Financial Overview
Investment Range
$130,900 - $507,650
Franchise Fee (Low)
$25,000
Franchise Fee (High)
$48,500
Minimum Cash Required
$30,000
Royalty %
6%
Marketing %
2%
Equipment Costs (Low)
$37,600
Equipment Costs (High)
$307,000
Working Capital
$45,000
Audited Financials
Yes
Offers Financing
No
Audit Opinion
Unqualified opinion
Financial Health Notes
The FDD's Special Risks section highlights that Elder-Well's financial condition, as shown in its financial statements, raises questions about the franchisor's ability to provide services and support to franchisees. The financial statements (Exhibit A) show negative Shareholders' Equity (Deficit) of -$73,820 in 2024 and -$31,785 in 2023, along with net losses of -$19,387 in 2024 and -$40,646 in 2023.
Financing Details
Elder-Well does not offer any direct or indirect financing to its franchisees. Additionally, Elder-Well does not guarantee any notes, leases, or other obligations of its franchisees.
Performance Metrics
Total US Locations
5
Franchised Units
2
Corporate Units
3
Avg Square Footage
2,750
Franchising Since
2019
Legal & Compliance Analysis
Recent Litigation
No
Bankruptcy
No
Litigation Summary
Elder-Well has no litigation history to report. Item 3 of the FDD states that there is no litigation required to be disclosed for the franchise.
Bankruptcy History
Elder-Well has no bankruptcy history to report. Item 4 of the FDD states that there is no bankruptcy required to be disclosed for the franchise or its key personnel.
Agreement Terms
Initial Term
10 years
Renewal Term
10 years
Renewal Conditions
To renew their Elder-Well franchise, franchisees must provide notice of their desire to renew 180 days before the current term expires. They must pay a $10,000 successor agreement fee per Licensed Service Area, be in full compliance with their franchise agreement and all other agreements, attend any required additional training, and refurbish their location to meet current brand standards. Franchisees must also sign a general legal release and accept the then-current form of franchise agreement, which may have different terms.
Training & Support Program
Franchisor Assistance
Before opening, Elder-Well assists franchisees with site selection, helps them retain a third-party real estate firm, and provides mandatory and suggested layouts for their location. Franchisees and their owners also receive an initial training program and access to operations manuals. After opening, Elder-Well offers additional training programs, assistance during normal business hours (Monday-Friday, 9 AM-5 PM EST), revisions and updates to the manuals, and reviews of franchisee advertising materials. The franchisor also inspects locations periodically and provides support through email, e-newsletters, social media groups, and an intranet portal.
Initial Training Hours
50
Training Location
Natick, MA and virtual
Ongoing Support
After opening, Elder-Well franchisees receive ongoing support services. This includes additional training programs and support services as deemed appropriate by the franchisor. Assistance is available during normal business hours (Monday-Friday, 9 AM-5 PM EST). Franchisees also receive revisions and updates to the operations manuals and have access to support through email, e-newsletters, social media groups, and an intranet portal. Elder-Well reserves the right to modify obligations related to new Marks, services, and techniques, and periodically inspects franchise locations.
Franchise Requirements
Ideal Candidate Profile
Elder-Well seeks qualified individuals and entities capable of independently owning and operating its business. Franchisees must be prepared to devote full-time effort to the active management and operation of the business. If the franchisee is an entity, an owner must directly supervise the business. Computer skills are essential, and franchisees must become proficient in Windows and Microsoft software programs on their own. The franchisor assesses candidates based on their aptitude, abilities, and personal characteristics to ensure they can successfully operate the business.
Industry Experience Required
No
Management Experience Required
No
Sales Experience Required
No
Technical Skills Required
Yes
Operational Details
Location Type
commercial
Owner Participation
full-time
Territory Type
limited
Staff Count
3
Territory Size Requirements
Elder-Well territories are defined by contiguous zip codes, covering up to approximately 100,000 people. The size of a Licensed Service Area may be adjusted based on demographics and population density. Franchisees are restricted from marketing or providing services outside their designated Licensed Service Area, with limited exceptions for certain networking activities.
Staffing Notes
Elder-Well franchisees typically operate with a staff including one Program Director and two program assistants. All employees must undergo background checks before hiring, and their information must meet guidelines specified in the operations manuals. If a franchisee wishes to hire a full-time manager, they must obtain prior written consent from Elder-Well, and the owner must still actively oversee operations and supervise the manager. Any manager hired must also complete the initial training program and sign confidentiality and non-competition agreements.