How much does it cost to start a home healthcare business?
A look at the startup costs for a BrightStar Care home health care business
The estimated startup costs for a BrightStar Care home healthcare business range from $92,371 to $174,032, depending on real estate prices and salary ranges in your area, as well as the size of the territory your wish to serve. BrightStar Care franchises have a minimum of 200,000 to 250,000 people in their territory.
To qualify for a franchise, you will need $100,000 in liquid capital and a net worth of $500,000. We also recommend additional capital or income to cover living expenses during the first 12 months in which your business is ramping up.
The chart below, from Item 7 of our 2016 Franchise Disclosure Document, outlines the startup costs for a BrightStar Care franchise.
Estimated startup costs
|EXPENDITURES||AMOUNT||METHOD OF PAYMENT||WHEN DUE||PAID TO|
|Initial Franchise Fee*||$50,000 for the first 200,000 – 250,000 in population in your Protected Territory*||As incurred||Upon signing the Franchise Agreement|
|Leased Space for Agency||$3,200 – $7,200||As arranged with Lessor||As arranged with Lessor||Lessor|
|Furnishings||$1,500 - $3,000||As arranged with vendors||As per terms of purchase|
|Computer Infrastructure||$3,500 - $5,500||As arranged with vendors||As per terms of lease or purchase|
|Signage||$300 - $1,000||As arranged with vendors||As per terms of purchase||Approved sign vendors|
|Utility Deposits||$100 - $500||Lump sum||As per terms of invoice||Landlord, service providers|
|Marketing Materials||$900 plus S&H||As arranged with vendor||As per terms of invoice||Approved print vendor|
|Grand Opening Advertising||$0 - $3,000||As arranged with vendors||As per terms of invoice||Approved vendor|
|Licenses||$200 - $7,400||State/city/county/municipal authority, as applicable||As required by applicable authority||Applicable authority|
|Joint Commission Accreditation Application Fee & Membership, and Initial Accreditation Visit||$0 - $4,250||As arranged with vendors||As per terms of purchase||Direct to selected vendor|
|Consultants and/or Director of Nursing hired in advance of opening to meet licensure requirements, as needed||$0 - $5,040||Directly to Consultant / Director of Nursing||As per terms of invoice||Directly to Consultant / Director of Nursing|
|CPA to Certify Licensure Submission||$0 - $1,000||As arranged with vendors||As per terms of purchase||Direct to selected vendor|
|Insurance (except workers comp)||$1,390 - $2,316||Directly to approved supplier as per supplier’s invoice||As per terms of invoice||Approved vendor|
|Worker’s Comp Insurance||$645 - $5,044||Directly to approved supplier as per supplier invoice||As per terms of invoice||Approved vendor|
|CSA Training and Certification||$0 - $1,595||Direct to Vendor||As per terms of purchase||Approved vendor|
|Various Dues and Memberships||$0 - $500 annually Paid within first three months in full||Direct to Vendor||As per association invoice||Local Chamber of Commerce, HCAOA, Elder Care Councils, Continuity of Care Organizations, etc|
|Loan Packaging Fee (SBA Loan or Non- SBA Loan)||$0-$2,500||Lump sum||As per terms of your loan agreement||Bancorp Bank (SBA Loan) Bank of America, NA (Non-SBA Loan)|
|Employee Travel and Living Expenses Associated with Training||$3,360 - $4,260||As arranged with vendors||As per terms of purchase||As arranged|
|Legal Fees||$1,000 - $5,000||As arranged with vendors||As per terms of invoice||Direct to selected vendor|
|Additional Operating Funds: 3 months||$26,276- $64,027||Lump sums||As needed||Various|
|Total||$ 92,371 - $174,032|
*$50,000 for the first 200,000 – 250,000 in population in your Protected Territory plus $200 for each additional 1,000 (or portion thereof) individuals in your Protected Territory above 250,000
We provide more details about each of these fees in our Franchise Disclosure Document. If you are ready to learn more, fill out the form on this page to download a free executive report and start a conversation. We look forward to answering your questions. You can also call us at 877-689-6898.