My Elder Advocate Franchise Analysis
My Elder Advocate is graded based on our most recent FDD research!
Franchise Facts
My Elder Advocate provides senior advisory and advocacy services. They provide advice to families about elder and senior care, planning for personal, health and financial needs as they age.
How much does an My Elder Advocate business cost to open?
My Elder Advocate has an initial franchise fee of up to $39,500, with a total upfront investment range of $85,150 to $123,200.
- Initial Franchise Fee: $39,500
- Total Investment: $85,150 to $123,200
- Working Capital: $30,000 to $45,000
- Royalty Fee: 8.0%
The initial investment of any franchised business includes multiple fees. Check out this investment opportunity to better understand the initial costs required to purchase an My Elder Advocate, such as franchise fees, real estate costs, grand opening, marketing, and furniture and fixtures purchases.
Can you Afford an My Elder Advocate Franchise. Complete our Affordability Calculator to find out!
How much can I earn by owning a My Elder Advocate franchised business?
As with any new franchise, the franchise owner's salary and the revenue from a My Elder Advocate franchise depends on a variety of factors. One way to confirm the potential revenues or profits earned from a My Elder Advocate franchise investment is to review the franchisor's Item 19 within their Franchise Disclosure Document. Usually, earnings and owner's income are equitable to the size of the investment and number of locations you own. Demand for your products, your labor costs, commercial lease rates and a number of other variables also play a large role in your earnings and your personal salary
For more details and system-specific data on the revenue of an My Elder Advocate franchised business, unlock this franchise opportunity
How many franchise locations does My Elder Advocate franchise system own?
As of the 2017 Franchise Disclosure Document, there are 2 franchised My Elder Advocate locations across the USA.
Did you know there are over 3,000 franchise opportunities across the United States. More than 80% have less than 10 locations.
Are there any My Elder Advocate franchises in my state?
Based on 2017 FDD data, My Elder Advocate has franchised locations in 1 states. There may be no locations in several states as each franchise plans their development strategy differently. Certain states require franchisors to register their franchise opportunity and file their Franchise Disclosure Document (FDD) with state examiners prior to offering franchises to people living in that state. These registration states have examiners review a franchise company's FDD to ensure it complies state regulatory requirements. In addition to registration states, additional states have enacted supplemental franchise or business opportunity laws that mandate franchisors to provide their franchise within the state. In almost all instances the filing is a notice within the state. Unlike franchise registration states, the franchise filing states do not review the FDD.
Based on the data collected My Elder Advocate is growing into new locations and could be available near you.
One of our advisors will have detailed knowledge about this franchise opportunity. Sign up to learn more and speak with our advisors.
Last Reviewed: 2017
Sector: Personal Services
Category: Home Care
My Elder Advocate Franchise STATS
7 Years
7 Years
0
2
8.0%
2.0%
FAQS
Does this brand provide any initial training and opening assistance?
Yes, they have an initial training program of 70 hours. This includes 30 hours of classroom training, 40 hours of on-the-job training, and N/A hours of online training. In their FDD they outline who's in charge of the training. Unlock to find out more.
| Online | N/A |
|---|---|
| On-the-Job | 40 |
| Classroom | 30 |
| Total | 70 |
Does this brand provide Territory Rights?
My Elder Advocate does NOT offer territory protections. For an explanation of territorial rights, unlock this franchise opportunity for more details.
Do they have marketing and technology support in place?
Yes, My Elder Advocate offers comprehensive support for franchisees. Unlock this franchise to find out more.
When did they start franchising?
They began franchising in 2016. The average Home Care franchise began franchising in 2011.
Does My Elder Advocate offer lending options?
No, but you can click here to fill out our affordability calculator and understand your financing options.
Unlock this opportunity for instant access to our research findings, including:
- Growth breakdown
- Turnover breakdown
- Financial transparency
- Initial and renewal terms
- Royalties and ongoing fees
- Important Franchise FAQs
- Our grade and free access to consult with a franchising expert
- What are the historical franchisee revenues?
- Do they provide Veteran or First Responder discounts?
- Do they use public figures to promote their franchise?
- Do they disclose any bankruptcies?
- Is this franchise affiliated with any other franchise companies or private equity investment groups?
- How many new outlets have they opened in the last 5 years?
- How many franchised outlets have closed in the last 5 years?
- How many new outlets have they sold in the last 5 years?
- How many franchised outlets have terminated in the last 5 years?
- Do they operate any corporate or affiliate owned outlets?
- How many years is their initial and renewal term lengths?
- How does the franchisor avoid litigation and lawsuits?
- How long have they been franchising?
- Are they expanding into Canada or other Countries?
- How are the royalty, advertising and marketing funds administered and managed by the franchisor?
- How are territories defined?
- What support can you expect to receive from the franchisor?
- Why has new franchisee growth been so low?
- What are the critical requirements for managing a successful franchised location in this brand?
- Are you required to work as an owner-operator or is this a passive investment opportunity?
- Will the franchisor refund the franchise fee under certain circumstances?