Employment Practices Liability Insurance
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At binding

A Better Solution

Table of Content
1. Franchise Snapshot
2. Franchise Overview
3. Performance and Metrics
4. Our Take
5. Additional Resources

1. Franchise Snapshot

Franchise Status
Active
Basic Information
Industry
Healthcare
Category
Senior Care
Investment Range
$106,800-$219,350
Total US Locations
27
Franchise Units
25
Founding Year
2000
Started Offering Franchises
2014
Management Capacity
Operational Support
Job Count
12
Prior E2 Investors?
Yes
Prior Visa Franchise Clients?
Royalty Fee
5%
Marketing Fee
1%
Franchise Fee
$55,000
Headquarters (City, State)
San Diego, CA
Square Footage
Retail Location?
No
Agreement Term Length
10 years
Video

In these videos you will learn about the company firsthand. And they will also tell you in a short form about the financing of the enterprise.

*Information presented in these videos may change over time and may not reflect the most current franchise offering. Prospective franchisees should review the latest Franchise Disclosure Document (FDD) and consult directly with the franchisor for updated information.

2. Franchise Overview

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Overview

A Better Solution Home Care is a non-medical home care company specializing in senior caregiving services that provides a high-quality care to seniors and individuals who choose to stay in their home and consequently require hourly to 24-hour homecare services. It is built around a client-centric model of care where exceptional customer service is its primary business driver. The company offers a full spectrum of services to assist individuals of any need in the comfort of their own home. Meeting their clients need is their priority!

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Management team / founders

A Better Solution Home Care was founded by Lia Smith-Pratt. Lia began her journey as a caregiver herself, and her passion eventually led to a 25+ year career in senior advocacy. She is a community leader and has helped dozens of people achieve business ownership. Its Executive Leadership Team are individuals that possess a deep connection to the senior industry and a calling to advocate for the aging population and medically frail. They have dedicated their careers and lives to providing exceptional care to both seniors and caregivers. With over 135 years of combined experience, the executive leadership team has been honored in the Senior Care Industry many times over by community and nationwide associations. The availability of the Executive Team is one of the most beneficial parts of a smaller, carefully crafted franchise system. With an internal targeted growth plan of only 100 Franchise locations over 10 years, A Better Solution Franchise Partners aims to always have the dedication and commitment of the Executive and Management Team, which for ABS is an integral part of their Brand Difference.

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Focus of owner for daily business operations

Semi-Absentee model where the investor would rely on the joint-venture corporate partner to focus on managing the below facets of the business: 1. Establishing and building upon relationships with referral networks within the community; 2. Recruiting and hiring of competent home care workers; 3. Supervising and ensuring home care workers are trained.

3. Performance & Metrics

Franchisor Fees | Item 6
Franchise Value
Industry Median
All Franchises Median
Royalty Fee
5%
6%
6%
Marketing Fee
1%
Franchise Fee
$55,000
$49,500
$40,000
Total Investment Cost | Item 7
Type of Expenditure
Low Amount
High Amount
When due
Initial Fee
$55,000
$55,000
Upon signing
On-Site Training
$0
$5,000
As Arranged
Travel & Living Expenses While Attending Initial Training
$2,500
$5,000
Before, During & After Training
Office & Real Estate Improvements
$0
$1,500
As Arranged
Lease/Rent & Security Deposit (3 Months)
$3,000
$8,000
As Arranged
Equipment
$1,600
$8,850
As Arranged
Enhanced Support Services
$0
$12,000
As Arranged
Signage
$500
$4,000
As Arranged
Marketing
$4,500
$4,500
As Arranged
Professional & General Liability Insurance
$3,000
$7,000
At binding
Employment Practices Liability Insurance
$2,500
$6,500
At binding
Sexual Misconduct Insurance
$1,500
$6,000
At binding
Fidelity Bond Coverage
$150
$500
At binding
Workers’ Compensation Deposit
$1,500
$4,500
At binding
Business Licenses
$50
$2,500
As Required
Home Care Organization State Licensing Fee (if required)
$500
$8,500
As Incurred
Legal Fees
$500
$7,500
As Incurred
Opening Inventory of Supplies
$4,000
$7,500
As Arranged
Additional Funds (3 months)
$25,000
$60,000
As Incurred
Miscellaneous Opening Costs
$1,000
$5,000
As Incurred
Total
$106,800
$219,350
Outlets and Franchisee Information | Item 20
Outlet type
Year
Outlets at the start of the year
Outlets at the end of the year
Net change
N/A
2022
19
27
+8
Franchised
2023
27
25
-2
N/A
2024
25
27
+2
N/A
2022
1
1
0
Company-Owned
2023
1
2
+1
N/A
2024
2
2
0
N/A
2022
20
28
+8
Total Outlets
2023
28
27
-1
N/A
2024
27
29
+2
Net Unit Growth (Recent year)
Net Unit Growth (Recent 3 years)
Franchise Health Metrics
Growth Rate
1 year / 3 years
Failure Rate
1 year / 3 years
Franchise for Sale Rate
1 year / 3 years
A Better Solution
9% / 32%
14% / 24%
0% / 12%
Industry median
10% / 49%
2% / 7%
0% / 4%
Franchise Health Metrics
Franchise Historical Loan Metrics
10 Year Cumulative Charge Offs by $ of Loans
10 Year Cumulative Defaults
3 Year Predicted Default Rate
*Please note the information provided here is sourced from Lumos. We do not guarantee its accuracy or completeness. For verification, please refer to Lumos directly.
Item 19 – Financial Performance Representations
Historical financial performance representations
Franchise Financials
Franchisor company financial information, if disclosed by the franchisor.
Litigation & Bankruptcies
% of Franchisees Undergoing Litigation
0
% of Franchisees with Completed Litigation
0
Number of Bankruptcies Disclosed
0
*The litigation information displayed has been reviewed by our Product Development team. Franchises featured on this platform have been thoroughly assessed. However, Visa Franchise strongly recommends consulting with your own legal counsel for further guidance.

4. Our Take