Rising To The Challenge: How Does MyElder™ Serves a Growing Market

The home care market is growing rapidly. In 2013, 14% of people in the US (44.7 million) were over 65 years old. By 2040, that percentage is expected to grow to 22%. As the population gets bigger, so does the opportunity for MyElder’s advocate franchisees.

Make a difference in your community by helping others. Families will increasingly need someone with effective intervention and problem-solving techniques on their side. Our model allows franchisees to benefit from these demographics and help elders.

What Is My Initial Investment?

It will be determined by the size of your territory and your decision to either hire elder advocates and support staff or to start by handling most services yourself. As you previously read, if you are planning to provide most services you will not necessarily need an office to begin.

Below you will find the investment range based on various considerations

Description Low Investment High Investment
Franchise Fee $59,500 $125,000
Office Rental/Deposit/Improvements $0 $6,500
Miscellaneous* $1,250 $2,250
Office Products/Business Equipment $2,500 $10,150
Training Expenses (Travel & Related) $500 $4,200
Initial Marketing $2,500 $2,500
Additional Funds $5,000 $25,000

Do I Need an Office?

As you evaluate your need to have an office you will want to take into account a number of items. A typical MyElder™ franchise would initially occupy between 350 and 650 square feet of space. This would provide a working space where you can meet with staff and families. This can initially be a residence if the space is quiet, private and allows you to be on the phone without interruption.

Working out of a home office will require that you are self-disciplined with your time. If you have just left a job where you had considerable interaction with co-workers, the lack of face-to-face interaction may be a difficult transition. In addition, are you planning to handle the administrative issues that will invariably crop up during the week?

Initially, some of the benefits of working from home are its flexibility and financial savings. Eventually, as you begin to expand your MyElder™ business in your territory, you will need to hire additional advocates and administrative help. At that time you will need to have your team occupy an office that accommodates your growing business.

"Working From Home Provides Added Flexibility."

Jack Halpern.

My Elder Advocate: Creating Multiple Revenue Streams

The HHA landscape is changing. More than ever, seniors and their loved ones need a place to turn. Someone they can trust. Someone who has their best interest in mind.

We’ve worked hard to be that for the aging population. But just as important, we’ve worked hard to be the same thing for our franchisees: a trustworthy partner with your interests in mind. By 2020, we plan to be the marketplace leader, helping 80,000 elders every year. With our help, navigating in-home health aides, hospitals, assisted living, and nursing homes will no longer be a nightmare for elders and their families. At the same time, you can work with us to own and build a profitable business in this fast-growing market by accessing not just the current home care market, but multiple revenue streams across the fast-changing continuum of post-acute care for elders, without the challenges of an increasingly crowded HHA category. According to GE Healthcare Camden Group, the spotlight will shine on post-acute care, thanks to population health management models and bundled payment. More transactions involving post-acute providers — home health, skilled nursing, rehabilitation, hospice — will create increased upheaval in this realm of healthcare.