If you want to invest in the in-home care industry, now is the time. Fortune Business Insights projects the home health services market to grow from $94.17 billion in 2022 to $153.19 billion in 2029, with a 7.2% compound annual growth rate during that period. But choosing between the several different in-home care franchises can take time and effort.
Deciding between a Synergy HomeCare franchise opportunity or another franchise in the home care industry? See how they compare to A Place At Home and which is right for you.
Side-by-Side Comparison
Synergy HomeCare Franchise has been around for nearly 20 years and stretches across 39 states. They offer an affordable investment opportunity, but they’re not the only brand in the senior in-home care sector that does. A Place At Home, founded in Omaha, NE is carving its place in the industry. Let’s compare the two franchises side-by-side:
| Synergy HomeCare | A Place At Home | |
| SYNERGY HOMECARE | A PLACE AT HOME | |
| Franchise Fee | $50,000 * | $49,500 |
| Initial Investment | $72,718 to $145,833 * | $84,185 to $148,517 |
| Minimum Net Worth | $150,000 – $250,000 | $250,000 |
| Liquid Capital Requirement | $50,000 – $100,000 | $50,000 |
| Royalty Fee | 5% | 4.5% -5.5% |
| Monthly Ad Fund Fee | 2% | 1% |
| Services | In-home care, including specialized care, companionship, memory care, hospital-to-home care, and fall and injury prevention | In-home care, including specialized care,
Care coordination, Senior living advising, and staffing solutions |
* SOURCE: Synergy HomeCare’s latest FDD.
Investment
While the initial investment costs are very similar at first glance, it’s crucial to understand what you’re getting with that payment. Synergy HomeCare defines a territory as an area with 20,000 people 65 years or older.
Compare that to A Place At Home, where our territories are comprised of 40,000 people over 65 and an area with a strong workforce that can serve the population in need. This means you’re getting a more extensive potential customer base for a similar price.
A Place At Home also offers a de-escalating royalty fee. This means the more you make as a franchisee, the lower percentage you’ll pay in royalty fees. Additionally, our monthly ad fund contribution is less than Synergy HomeCare. Both of these factors allow A Place At Home franchise owners to pocket more of their revenue than a Synergy HomeCare franchise.
Revenue Streams
Synergy HomeCare and A Place At Home both offer a comprehensive range of home care services designed to meet the unique needs of seniors and others who need assistance. These services typically include personal care, companionship, transportation, medication reminders, meal prep, and light housekeeping.
While their in-home care services are very similar, the two brands adopt slightly different approaches to home care revenue streams. Synergy HomeCare solely focuses on performing care in the client’s home. A Place At Home allows franchisees to diversify their revenue beyond in-home caretaking. The franchise looks to guide seniors and their loved ones through the aging journey by also offering professional care planning and coordination, senior living search assistance, and staffing services for local assisted living, memory cares, rehabs, and other long-term care communities.
Training & Support
Comprehensive training and ongoing support are vital for success in any franchise venture. Synergy HomeCare franchise provides a comprehensive training program covering operations, marketing, caregiver recruitment, and business management. They offer support through their 10-week opening process, which includes 42.5 hours of training. They also provide ongoing support through regional meetings, annual conferences, and a dedicated support team.
A Place At Home has a robust training program, including both online and in-person training modules, as well as ongoing support through regular check-ins, webinars, and an extensive network of franchise owners. We created our own training program called CARE Track. That includes 40 hours of training at our headquarters at our flagship location in Omaha, Nebraska.
The CARE Track then guides you through set revenue goals, client and employee satisfaction benchmarks, and service integration. We’re so confident in CARE Track that if you don’t service a client within 60 days of launching your business, we’ll waive the first six months of royalties.
Invest With A Place At Home
A Place At Home is a fast-growing brand curating a community of dedicated professionals offering compassionate care across the country. The brand is experiencing massive growth, with a 115% increase in units over the last three years. Don’t miss your opportunity to join the booming home care industry with a brand that is quickly expanding but still connects personally with each of its owners. Submit a franchise form to learn more.
