Franchise Talk

Franchisee Sells Home Instead Senior Care After 12-Year Run

June 30th, 2008 | Author: Jack

The longtime owners of Home Instead Senior Care have sold the Springfield franchise to a rural Dade County couple whose custom cabinetry business has taken a hit from the slowdown in residential construction.

Neil and Yvonne Marshall bought the franchise for an undisclosed amount from Dallas and Trudy Johnson, who owned the business for nearly 12 years. Chuck Crosby of The Kingsley Group brokered the transaction, which closed May 1.

Home Instead Senior Care franchises primarily provide in-home services for senior citizens in the form of companionship, running errands, cooking meals, housekeeping and assisting clients with persistent medical conditions, such as Alzheimer’s disease or dementia.

In February, The Wall Street Journal named Omaha, Neb.-based Home Instead Senior Care one of its Top 25 high-performing franchises. The newspaper noted that Home Instead, which had the highest average net-income growth of the franchises on the list, is poised to serve the growing number of baby boomers. Net income for the company’s 705 franchises was up 331 percent during the past three years, according to the report. Home Instead now has 800 franchise offices in the United States, Canada, Ireland, Spain, Portugal, Switzerland, Japan, Taiwan, Australia, New Zealand, Germany and the United Kingdom, according to www.homeinstead.com.

The estimated minimum investment in a Home Instead franchise is $39,050, and the average investment is $45,800, according to data compiled by the Wall Street Journal.

Home Instead’s business model attracted the Johnsons’ interest shortly after the company began franchising in 1995.

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