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With its comprehensive approach to senior transitions services–senior moving, downsizing, and estate sales–Caring Transitions is a leader in this niche market within the senior care industry. Caring Transitions is devoted to being an advocate for seniors and their families throughout transition periods, making it a trusted provider by families, attorneys, bank trustees, real estate professionals, and funeral directors. Caring Transitions keeps the individual and their family’s interests at heart, helping seniors to minimize stress and maximize returns throughout the transition process. With the rapid expansion of the elderly population, more than 100 million individuals and their parents are poised to need relocation and home liquidation services. Caring Transitions dominates this industry, and thus possesses potential for significant growth in the upcoming years. With over 20 years of franchise experience, Caring Transitions offers prospective franchisees a financially and personally rewarding business opportunity.
| Operating Units | 12/31/2009 | 12/31/2010 | 12/31/2011 |
|---|---|---|---|
| Franchised | 56 | 76 | 98 |
| % Change | -- | 35.7% | 28.9% |
| Company-Owned | 0 | 0 | 0 |
| % Change | -- | -- | -- |
| Total | 56 | 76 | 98 |
| % Change | -- | 37.5% | 28.9% |
| Franchised as % of Total | 100% | 100% | 100% |
Investment Required
The initial fee for a Caring Transitions franchise is $34,900 for an area with a population of up to 175,000 and $40,900 with financing. For territory populations exceeding 175,000, franchisees pay an additional $300 for every 1,000 additional people. Caring Transitions provides the following range of investments required to open your initial franchise. The range assumes that all items are paid for in cash. To the extent that you choose to finance any of these expense items, your front-end investment could be substantially reduced.
| Item | Established Low Range | Established High Range |
|---|---|---|
| Initial Franchise Fee | $34,900 | $40,900 |
| Furniture and Equipment | $500 | $1,000 |
| Computer System | $1,000 | $3,000 |
| Expenses While Training | $750 | $1,500 |
| Initial Deposits (Rent, Telephone, Bank) | $350 | $2,000 |
| Additional Funds (6 Months) | $4,000 | $18,000 |
| Pre-opening Promotion | $1,000 | $1,500 |
| Technology/Software Licensing Fee & Web Hosting Fee | $700 | $700 |
| Monthly Office Rental Payment | $200 | $1,000 |
| Insurance | $1,000 | $3,000 |
| Certified Relocation Transition Specialist Training | $500 | $500 |
| Membership & Associations fees | $500 | $500 |
| Estatesales.net | $80 | $80 |
| Total Initial Investment | $45,480 | $73,680 |
Ongoing Expenses
Caring Transitions franchisees pay a monthly royalty fee equal to the greater of 5% of gross revenues or $300, and a monthly national branding fee equal to $250. Additional fees include a local cooperative advertising fee of up to 3% of monthly gross revenues.
What You Get: Training and Support
Caring Transitions is committed to ensuring franchising success and provides training and support throughout the franchise relationship. Franchisees complete an extensive initial training program at the Caring Transitions corporate headquarters in Cincinnati, Ohio. Topics covered in the training program include the Caring Transitions business model, services, financial management, database management, administration, marketing, and promotion. Following the opening of a franchised location, Caring Transitions offers ongoing support in the form of telephone and e-mail assistance. Furthermore, Caring Transitions provides additional materials, information, training and assistance as deemed necessary.
Territory
Caring Transitions grants exclusive territories.
Note: The tables and information regarding the number of operating units, investment required, on-going expenses, training and territory grants were taken from the company’s 2012 FDD. The 2012 write-ups will be incorporated into the 2013 Edition of the Bond’s Top 100 Franchises publication.