HomeWell Franchising Inc., one of the nation’s leading non-medical in-home care franchisors, today released its Q1 2021 franchise development and financial results.
Despite the pandemic still sweeping the nation and the world, the company experienced unparalleled growth.
Q1 2021 Highlights:
Franchise Development
- 5 executed contracts: 4 new owners and 1 expansion
- 4 new open locations
- 7 new territories awarded
Financial Results
- Corporate revenue growth increased 45%
- System revenue growth increased 37%
- Royalty revenue growth increased 48%
Since the pandemic started, the company has seen growth in all areas of the business including the franchise development pipeline and the ability for existing franchisees to grow their business.
“In 2020, we saw record-setting growth and the momentum is only continuing. Our projections show 2021 to be the best year yet for our company. This is in large part due to an ongoing robust franchisee pipeline with well-qualified candidates and the continued success of our current franchise system. We have a very engaged franchisee base who are passionate about bringing home care to their local communities, as well as realize the full potential of their investment”, said Casey McCleskey, CFO.
The company has made strategic changes to the organization including a restructuring of the executive leadership team and adding a head of franchise services to the team. As the franchise system grows, having hands-on franchise business consultants that are fully dedicated to a set number of owners to help them launch, grow, and sustain their business is a key strategy for the company.
Crystal Franz, CEO adds “Non-medical home care is a growing industry considering the sheer growth of the senior population. What differentiates us is our approach to home care. Our franchisees share our same values of providing quality care to the most vulnerable in our society. People across the country are entrusting us with the care of their loved one and we feel honored to be able to provide the peace of mind to those family members while also helping to realize the dreams of business owners looking to make a difference.”
HomeWell Care Services offers flexible care options and special programs that help enrich the lives of their clients. The company relaunched their foundational Life Enrichment Activities Program (LEAP) aimed at combating social isolation and loneliness which was so prevalent over the last year for many seniors.
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.