Griswold Home Care Franchise
Audited FinancialsRisk Score
Pending analysis
Investment Range
$99,600 - $180,600
Franchise Fee
$42,075
Min Cash Required
$27,000
Total US Locations
193
Business Summary
Griswold Home Care operates a business that helps identify people needing assistance and connects them with carefully screened, trained, licensed, insured, bonded, and credentialed individuals. These individuals, known as Caregivers, provide personal care, homemaking, companion care, incidental transportation, and other supportive services to older adults, and ill or disabled persons who need extra assistance with daily living activities. Griswold Home Care also offers consultation to clients and care recipients regarding home care services.
Corporate History
Griswold Home Care was formed as Griswold International, LLC in June 2009, acquiring the assets of several predecessor companies. The earliest of these, Special Care, Inc., began operations as a sole proprietorship in Pennsylvania in 1982 and was incorporated in 1985. Griswold Home Care has been offering franchises since 2009. From 2011 to 2012, it also offered franchises for healthcare staffing businesses under the mark 'GHC Staffing.' By January 2016, all company-owned units had converted to the Agency Business Model, which Griswold Home Care has been offering since then. The company previously offered franchises under a Registry Business Model from 1984 to 2014.
Financial Overview
Investment Range
$99,600 - $180,600
Franchise Fee (Low)
$42,075
Franchise Fee (High)
$54,500
Minimum Cash Required
$27,000
Royalty %
4%
Marketing %
0.5%
Equipment Costs (Low)
$3,750
Equipment Costs (High)
$7,500
Working Capital
$54,000
Audited Financials
Yes
Offers Financing
No
Audit Opinion
Unqualified opinion
Financial Health Notes
Griswold Home Care's financial statements show a net loss of $2,961,425 in 2024, which is notably higher than the $806,746 net loss reported in 2023. The company's cash, cash equivalents, and restricted cash experienced a slight decrease from $3,569,459 in 2023 to $3,506,614 in 2024. A significant settlement expense of $4,196,840 was recorded in 2024, stemming from an arbitration award to a franchisee, which Griswold Home Care is currently evaluating for appeal. Although long-term debt was substantially reduced from $6,385,749 in 2023 to $2,022,109 in 2024, accrued expenses increased significantly to $5,957,388, likely reflecting the impact of the arbitration award. The independent auditor provided an unqualified opinion, and while the company's ability to continue as a going concern was evaluated, no substantial doubt was expressed by the auditor.
Financing Details
No financing is available from Griswold Home Care. Franchisees must arrange their own funding, as Griswold Home Care does not offer direct or indirect financing nor does it guarantee any notes, leases, or other obligations.
Performance Metrics
Total US Locations
193
Franchised Units
182
Corporate Units
11
Avg Square Footage
750
Franchising Since
2009
Legal & Compliance Analysis
Recent Litigation
Yes
Bankruptcy
Yes
Litigation Count
7
Litigation Summary
Griswold Home Care has been involved in several legal disputes. Older cases from 2004 and 2009 involved compliance issues with the Virginia Franchise Act, resulting in settlements and penalties. Between 2014 and 2016, Griswold Home Care faced three related lawsuits and an arbitration in California and Colorado, alleging misrepresentation, breach of contract, and fraud concerning changes in overtime wage laws and caregiver classification. These were resolved in a global settlement in May 2016 where Griswold Home Care paid $700,000 to the plaintiffs. Additionally, in 2014-2015, Griswold Home Care settled a lawsuit in Pennsylvania for common law fraud, misrepresentation, and breach of contract, receiving $170,000 from the plaintiffs and agreeing not to enforce post-termination covenants. From 2019 to 2021, Griswold Home Care was sued in Texas for negligence, gross negligence, and common law fraud related to a caregiver's actions and alleged misrepresentations, which was settled in May 2021 with Griswold Home Care paying $34,848.25. An administrative complaint in Indiana from 2012-2016 against former affiliated entities and an executive, Steven Turner, for alleged franchise law violations resulted in a cease and desist order and penalties. Most recently, in January 2023, a franchisee filed an arbitration for breach of contract and unjust enrichment. An interim award issued in December 2024 favored the franchisee, awarding over $4.2 million, which Griswold Home Care is currently evaluating for appeal.
Bankruptcy History
Griswold Home Care's Chief Operating Officer, Steven Turner, previously served as Chief Executive Officer and President of Valiant Health Care, Inc. from July 2010 to February 2013. Valiant Health Care, Inc. filed a voluntary petition for protection under Chapter 11 of the U.S. Bankruptcy Code in January 2012. The bankruptcy case was closed with a final decree in June 2015.
Agreement Terms
Initial Term
10 years
Renewal Term
5 years
Renewal Conditions
To renew their Griswold Home Care franchise agreement, franchisees must provide written notice within 75 days of receiving the expiration notice. They must not be in default of their franchise agreement or any other agreement with Griswold Home Care, maintain a quality reputation meeting Griswold Home Care standards, and successfully pass regular Quality Reviews. Franchisees also need to complete any outstanding training, upgrade their business to meet Griswold Home Care's then-current reasonable standards (including computer hardware and software), maintain or refurbish their physical premises if applicable, sign Griswold Home Care's current franchise agreement (which may have materially different terms), and meet the annual sales requirement.
Training & Support Program
Franchisor Assistance
Griswold Home Care offers extensive support to its franchisees. Before opening, it provides up to 10 days of initial HomeCare Academy training and loans a copy of its Operations Manual. During the launch process, franchisees receive support via telephone/webinar for reviewing the Operations Manual, state compliance, obtaining licenses, setting up the local company, insurance, bank accounts, market studies, and commercial office space. Ongoing assistance includes providing updates to the Operations Manual, helping with state and local licensing compliance, and making branded business forms and marketing materials available for purchase. Griswold Home Care markets the system through a general marketing fund, designates staff for business advice, monitors operations for compliance, and assists with public relations. It also organizes annual meetings, conferences, teleconferences, and additional training, issues brand standards, keeps franchisees informed of legal developments in the industry, and assists with client satisfaction surveys.
Initial Training Hours
116
Training Location
GHC Headquarters* and your Franchise
Ongoing Support
After opening, Griswold Home Care provides franchisees with ongoing updates to its Operations Manual and assists with state and local licensing requirements. It makes branded business forms and marketing materials available for purchase and markets the system through a general marketing fund. Griswold Home Care designates staff for ongoing business advice and consultation, monitors franchise operations for compliance, and helps maintain positive public relations. It also hosts annual meetings, conferences, and teleconferences, and offers additional training, including free webinars for franchisees and their staff.
Franchise Requirements
Ideal Candidate Profile
Griswold Home Care seeks franchisees who are prepared to be directly involved, full-time, and hands-on in supervising and managing their franchise for the first three years of operation. After this initial period, franchisees may employ an approved manager to oversee daily operations, provided the manager is suitably trained, dedicates full-time effort to the business, and holds a 10% interest in the franchise. Candidates must also be financially qualified, though specific financial thresholds are not detailed in the FDD.
Industry Experience Required
No
Management Experience Required
Yes
Sales Experience Required
No
Technical Skills Required
No
Operational Details
Location Type
commercial
Owner Participation
Full-Time
Territory Type
Non-Exclusive
Staff Count
1
Territory Size Requirements
Griswold Home Care territories are typically defined by postal zip codes and/or geographic boundaries, such as county lines. A standard territory includes a population that is the greater of 250,000 people or 25,000 senior citizens (aged 65 and older). Franchisees have the option to increase their territory size up to 300,000 people for an additional fee.
Staffing Notes
Griswold Home Care requires franchisees to have a manager who has completed initial training and dedicates full-time effort to managing the franchise, particularly after the first three years of operation where the owner's full-time involvement is initially required. If a manager operates the franchise, they must hold a 10% ownership interest. The FDD notes that some states may require specific roles, such as a full-time Care Coordinator and a part-time Community Relations Coordinator, which would increase staffing costs. All full-time and part-time office employees must sign a confidentiality and non-competition agreement. Griswold Home Care also supports franchisees in recruiting caregivers.