Prime Senior Placement Franchise FAQs
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Let us answer some frequently-asked questions about the senior placement and referral business and Prime Senior Placement franchise.
How much does a Prime Senior Placement franchise cost to open?
The total investment estimate to begin operations on a new franchise location with Prime Senior Placement ranges between $48,200 and $83,500. The initial franchise fee for a single territory is thirty thousand dollars ($30,000).
For a more detailed look at cost and investment information, please visit the Investment page.
What is a fixed franchise royalty and why have you chosen this royalty model?
A fixed franchise royalty is a type of fee that a franchisee pays to a franchisor for the right to use the franchisor’s trademark, operating system, and other intellectual property. The fixed franchise royalty is a fixed, recurring fee that is typically paid on a regular basis, such as monthly or quarterly, and is usually a percentage of the franchisee’s gross sales.
Fixed franchise royalties are less common in the franchising industry. They provide a predictable source of revenue for the franchisor while also allowing the franchisee to benefit from the established brand and operating system of the franchise.
In contrast to a fixed franchise royalty, some franchisors may use a variable franchise royalty, which is based on a percentage of the franchisee’s profits rather than gross sales. This can be beneficial for franchisees who experience significant variations in their sales revenue throughout the year, as the variable franchise royalty will be adjusted accordingly. However, variable franchise royalties can be more difficult to calculate and may require more detailed reporting and accounting from the franchisee.
Do you help potential franchisees secure financing?
We do not offer direct financing. However, we work with a number of third-party financial institutions that may be able to help you with financing.
Do I need senior care or senior placement/referral experience to become a franchise owner?
You do not need experience in either the senior care industry or senior placement/referral industry to franchise with Prime Senior Placement. We do recommend that you have an entrepreneurial spirit, a desire to serve people and your community and the drive to follow our proven business model.
If I do eventually hire other employees, how are they trained?
Our model for adding employees includes optional training provided by the franchisor.
How large can my franchise territory be?
We work closely with you to identify a realistic franchise territory for your business. Our territories are larger than most within our industry.
Can I own more than one franchise territory?
Yes. While we would recommend starting with a single territory, depending on your background and experience we are willing to discuss what a multi-territory model could look like for your business.
What is the term of the agreement?
The initial term of the franchise agreement is 15 years.
Will I have contact with other franchisees?
Yes you will have plenty of contact with other franchisees. We are purposeful in connecting each new franchise owner with other owners following training. We are confident in their successes and the talents and skills that each brings to their role as a Prime Senior Placement business owner, and we want everyone to learn from each other.
Do you generate business leads for your franchise owners in their local markets?
Our marketing model is based on grassroots marketing as well as lead generation from the franchisor.
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