8/10

Franchimp Summary Rating

7 /10
Earnings Transparency
8 /10
Investment Accessibility
Lower than 20% of peers

Franchise Summary

Description
As a franchisee, you will operate a business that provides non-medical, in-home personal assistance, such as in-home personal care and companionship, child care, meal preparation, medication reminders, medical and social appointment scheduling and management, organizational and bill paying assistance, housecleaning services and light home maintenance to seniors, the convalescing, disabled persons and others who need help with daily living activities.
Company Background
SYNERGY HomeCare is the world's largest franchised homecare company. With over 100,000 caregivers in 7 countries, SYNERGY provides outstanding care to individuals of all ages and abilities.
Franchise Opportunity
We all know that aging is hard. It's a challenge for everyone, but it can be especially difficult for seniors who need help with daily living activities like eating, dressing and taking medications. SYNERGY HomeCare provides non-medical in-home personal assistance to seniors, the convalescing, disabled persons and others who need help with daily living activities. Our caregivers are trained professionals who provide compassionate care through hands on assistance from meal preparation to medication reminders and companionship. We're there when you or your loved one needs us most! Having a caregiver at home means no more worrying about how to live independently or giving up social engagements because of inadequate transportation options. Now you have peace of mind knowing that someone will be there for your loved ones so they can enjoy the best quality of life possible without having to move into an assisted living facility or nursing home prematurely!
Corporate Structure
SYNERGY HomeCare Franchising, LLC was organized in the State of Arizona on December 19, 2003 under the name AZHC Franchising, LLC, for the sole purpose of offering Synergy HomeCare® franchises. They changed their name to Synergy HomeCare Franchising, LLC on December 16, 2004. Their principal business address is 1757 E. Baseline Road, Bldg 6, Suite 124, Gilbert, Arizona 85233. They have offered franchises for SYNERGY HomeCare Businesses since March 2005.

Earnings Transparency

7 /10
This Franchise discloses slightly more information about the financial performance of their franchisees compared to other franchises in the same industry

Why do some franchises disclose more than others?
There are many reasons why a brand may choose to not include item 19 on their FDD: they could be a newer franchise, they may be in a unique industry that is not super profitable or well-known yet

Financial Performance of "Standard" Units

Average Revenue Per Unit

Compared vs. Home Improvement & Remodeling Industry

$1,007,488 / unit

Franchise Type: Standard

Average Revenue During 2021

$1,007,488
$157,245
Industry Low
$7,947,014
Industry High

Franchise Types Available

# Type Investment Fees

Employee Contact Database

# Name Position Phone Number Email Address

Distribution of SYNERGY HomeCare Franchisees

SYNERGY HomeCare Franchise System Development in 2021

FAQ

How much investment do I need to start my own SYNERGY HomeCare business?
Franchisees typically require at least $73 to $150 investment to get their SYNERGY HomeCare business started
What are the initial franchise fees for SYNERGY HomeCare?
Franchisees typically need to pay at least $25 in fees directly to SYNERGY HomeCare in order to earn the right to launch their business
How much money can I make with a SYNERGY HomeCare franchise? What are the average revenues for a typical SYNERGY HomeCare business?
We estimate that the average revenue of an individual SYNERGY HomeCare unit is approximately $1,007,488. We based this on Item 19 in franchise disclosure document
How long do I need to commit to running a SYNERGY HomeCare unit? What is my contractual commitment?
SYNERGY HomeCare franchisees are typically required to sign up to a 5 year contract initially. The renewal length is 5 years. You can of course exit early but don’t expect to get any refund!

Accessibility

8 /10
The Franchisor's investment costs ranges from $73,148 to $150,479 which is Much Lower than the $0 to $0 average in the Home Improvement & Remodeling industry
What determines the investment cost?
Item 7 of the Franchise Disclosure Document lays out the full list of initial investment costs, including the fee payable to the franchisor, security deposits, equipment, professional fees etc

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