HomeWell Care Services Reports Record-Setting 2020 Results
February 10, 2021 // Franchising.com // Burkburnett, Texas - HomeWell Franchising Inc., one of the nation’s leading non-medical in-home care franchisors, today released its 2020 franchise development and financial results.
- 19 executed contracts: 16 new owners and 3 expansions
- 13 new open locations
- 31 territories awarded
Annual Growth Financial Results
- Corporate revenue growth increased 26%
- System revenue growth increased 12%
- Royalty revenue growth increased 18%
“Last year was a tumultuous year for everyone. We started the year off very strong but when the pandemic hit, we were not sure what to expect. Our pipeline continued to grow, and we were able to continue to execute all our franchise development efforts in a virtual format. This proved to work well for us since interest in owning a home care franchise continues to climb in many ways due to the pandemic. When the nation slowed down, many people were able to pause and determine what they wanted to do next in their careers and the opportunity that home care presents is undeniable,” said Brandon Clifford, SVP Development and Franchise Services.
A potential candidate’s discovery process includes a series of training, orientation sessions and other onboarding activities. By making these events virtual, travel times and expenses for potential - and incoming - franchisees were reduced, and more targeted training was created.
As the pandemic swept through the nation, targeting the most vulnerable, it was quickly realized that being at home was the safest option for everyone, especially the senior population. In-home care was deemed an essential business and with more seniors quarantining at home, the demand for services has grown. “Our financial results were incredibly strong in 2020. We have seen record-setting growth. While some of that is from adding new locations, a large part of the growth is also coming from our existing owners. We knew this business fares well during economic uncertainty, but what the pandemic has highlighted is that in-home care is increasingly becoming an important part of the health care continuum and will only continue to grow,” said Casey McCleskey, CFO
Crystal Franz, CEO adds “HomeWell delivered record performance across all of our key metrics. We demonstrated outstanding execution in a challenged environment. These record results demonstrate the strength and resiliency of our business, supported by a framework, that we believe positions HomeWell very well for future growth.”
"I would like to thank our owners, their dedicated staff and our corporate associates for their focus and commitment to our clients," said Franz. "By expanding our national reach, HomeWell is furthering our mission to provide ‘Trusted Care. True Compassion’ to all those in need of home care.”
HomeWell is focused on strategic expansion across the U.S. through franchise-owned development. With many territories available, the company expects to have over 100 HomeWell Care Services franchises by 2023.
About HomeWell Franchising Inc.
HomeWell Franchising Inc. is the franchisor for HomeWell Care Services®, which provides personal care, companionship, and home maker services for seniors and other homebound individuals, so they can remain safely in the comfort of wherever they call home. HomeWell is committed to helping people live life more fully and offers special programs for fall prevention, post-medical care, and life-enrichment. Our franchise agencies serve over 3,000 clients annually helping them to fulfill a robust life.
HomeWell Franchising Inc. is a premier franchisor with over 40 open locations representing over 85 territories across the U.S. and Canada. The company has a strong pipeline of new agencies set to open. HomeWell has been recognized as a Franchise Business Review Top 100 low investment franchise and continually ranks on the Entrepreneur Franchise 500 list. For more information on HomeWell or to explore franchise opportunities, visit www.homewellcares.com or www.homewellfranchising.com.
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