Lightest fee structure in home care (4% royalty, 6.9% total) with 49.9% disclosed gross margin — but $4.2M contingent liability and franchisor net losses
Franchises · Non Medical Franchises
View FDD (2025) · Revenue Data Included · Disclosure Quality: 9/10
Our Take
Griswold Home Care is early-stage or low-data. Proceed carefully.
Non-medical home care franchise providing personal care, homemaking, companion care, and incidental transportation to older adults and disabled persons. Agency Model — caregivers are W-2 employees of the franchisee.
This is the single most important question. The data below comes directly from the franchise's legally required disclosure document (FDD Item 19).
Franchisees earn a median of $1.7M/year, close to the $2.1M average — a healthy, even distribution suggesting consistent results.
This median revenue is in the top tier among non-medical home care franchises in our database.
Average Revenue
$2.1M
Median Revenue
$1.7M
More reliable benchmark
Top Performer
$7.5M
Bottom Performer
$62K
Why this matters for you:
4 of 48 franchisees (8%) are in the highest revenue band (Over $5M), while 3 (6%) are in the lowest (Under $500K).
A healthy system has most franchisees in the middle bands. Heavy clustering at the bottom is a warning sign.
Estimated using industry benchmark margins (no P&L disclosed by this franchise)
At median franchise revenue ($1.7M), the estimated owner take-home is roughly $329K/year — including a $50K owner salary.
This is a strong return relative to the investment — above typical franchise earnings.
Revenue is not profit. This table translates gross revenue into estimated owner take-home using industry benchmark margins. The highlighted row is closest to the median revenue ($1.7M).
| Revenue | Gross Profit | Est. Net | Owner Take-Home |
|---|---|---|---|
| $500K | $210K | $83K | $133K |
| $750K | $315K | $125K | $175K |
| $1.0M | $420K | $167K | $217K |
| $1.5M | $630K | $250K | $300K |
| $1.7MMEDIAN | $703K | $279K | $329K |
| $2.0M | $840K | $333K | $383K |
| $3.0M | $1.3M | $500K | $550K |
Gross margin: 42% | Est. overhead: 20% | Franchise fees: 5% | Owner salary: $50K added
Margins estimated from industry benchmarks. Your results will depend on market, management, and tenure.
Outlet count, growth trajectory, and churn — signals of system health
Moderate, steady growth — the system is expanding without overextending. A balanced signal.
Steady growth suggests the franchisor is being selective about new franchisees, which typically means better support per franchise.
What this means for you:
Upfront investment, ongoing fees, and minimum performance requirements
What it costs to get in and what you pay ongoing.
Veteran Discount: 20% off IFF (5-star VetFran)
Setup Requirements: Office-based (500-1,000 sq ft). Agency Model — caregivers are W-2 employees of franchisee (not independent contractors). Open within 60-120 days.
Year 1: 4% of Gross Receipts (no minimum). Year 2+: greater of 4% or $100/week.
Breakdown of the initial investment by category (midpoint estimates).
39% of total · Range: $27K – $81K
37% of total · Range: $50K – $55K
9% of total · Range: $10K – $15K
3% of total · Range: $4K – $5K
3% of total · Range: $3K – $5K
3% of total · Range: Not disclosed – $8K
2% of total · Range: $3K – $4K
2% of total · Range: $1K – $4K
1% of total
1% of total · Range: $1K – $2K
0% of total · Range: $50 – $1K
0% of total · Range: $50 – $750
Combined royalty + ad fund is 4% of gross revenue — below average, leaving you with more of each dollar earned.
These recurring fees come off the top of your revenue every month, regardless of profitability.
These fees are deducted before you see any profit. At $500K revenue with 4% combined fees, that's $20K/year going to the franchisor — before you pay rent, staff, or yourself.
Complexity, risk scoring, and key signals to watch
More strengths than watch items — the positives outweigh the negatives on paper. (12 strengths, 8 watch items)
Your franchise is only as strong as the company behind it. A weak franchisor can't deliver on training, marketing, or technology promises — regardless of how good the business model is.
A financially weak franchisor may struggle to provide training, marketing, technology, and ongoing support. If they can't sustain themselves, your investment is at risk regardless of your own performance.
Median revenue per location vs. total system size across 20 home care franchises
Each dot is one franchise system. Revenue is median gross sales per location from the most recent FDD.Blue dot = this franchise.
Griswold Home Care is a high-revenue system — the median location does $1,672,644/year across 48 offices. This is a mature, proven model with strong unit economics.
Median Revenue
$1,672,644
Average Revenue
$2,131,036
Locations
48
Median Revenue
$1,672,644
Average Revenue
$2,131,036
% Meeting Average
33%
Mature locations (20+ years) average $2,652,759 — roughly 2.7x what newer locations (1-5 years) earn at $966,301. This is a slow-ramp business that rewards patience.
| Time Open | Outlets | Average | Median | Range | % > Avg |
|---|---|---|---|---|---|
| 1-5 years | 8 | $966,301 | $956,489 | $61,573 – $2,429,728 | 50% |
| 5-15 years | 20 | $2,176,595 | $1,869,005 | $440,000 – $7,472,253 | 30% |
| 15-20 years | 3 | $1,976,829 | $2,332,104 | $386,123 – $3,212,260 | 67% |
| 20+ years | 17 | $2,652,759 | $1,587,454 | $953,642 – $7,190,556 | 41% |
Average
$1,421,993
Median
$1,328,420
Low
$61,573
High
$4,438,537
| Quartile | Count | Average | Median | Range | Gross Profit |
|---|---|---|---|---|---|
| 1st (Top 25%) | 12 | $4,502,710 | $3,802,077 | $2,920,504 – $7,472,253 | 0% |
| 2nd | 12 | $2,073,891 | $1,962,576 | $1,757,833 – $2,468,498 | 0% |
| 3rd | 12 | $1,330,438 | $1,313,345 | $1,168,813 – $1,587,454 | 0% |
| 4th (Bottom 25%) | 12 | $617,103 | $607,266 | $61,573 – $1,050,266 | 0% |
Mature locations (20+ years) average $2.65M. System grew 12.2% YoY. Affiliate data shows ~50% gross margin. Single-territory owners grew 24.8% YoY — strongest cohort growth. Top quartile averages $4.5M. Bottom quartile averages $617K (-0.8% YoY). 4% royalty is lowest in the dataset.
The system grew from 108 to 125 total locations (2022-2024), a net increase of 17 units.
| Year | Franchised | Company | Total | Net Change |
|---|---|---|---|---|
| 2022 | 95 | 16 | 111 | +3 |
| 2023 | 95 | 16 | 111 | 0 |
| 2024 | 114 | 11 | 125 | +14 |
| Year | Opened | Terminated | Non-Renewals | Reacquired | Transfers |
|---|---|---|---|---|---|
| 2022 | 3 | 0 | 0 | 1 | 6 |
| 2023 | 5 | 0 | 0 | 0 | 1 |
| 2024 | 20 | 1 | 0 | 0 | 3 |
11 company-owned at end 2024 (down from 16 — sold 2 to franchisees, closed 3). 68 legacy Registry Model franchised locations also exist (stable, no longer offered to new franchisees).
In last 3 fiscal years, franchisees have signed confidentiality clauses restricting ability to speak openly.
Key considerations before investing — your outcome depends more on you than the brand.
| Item | Low | High |
|---|---|---|
| Initial Franchise Fee | $49,500 | $54,500 |
| Living Expenses While Training | $3,000 | $5,000 |
| Office Lease | $9,500 | $15,000 |
| Office Equipment | $2,500 | $4,000 |
| First Year Software Fee + Installation | $1,750 | $1,750 |
| Other Technology | $1,250 | $3,500 |
| Signage | $50 | $1,000 |
| Opening Office Supplies/Inventory | $50 | $750 |
| Insurance (6 months GL + workers comp) | $3,800 | $4,800 |
| Printed Materials and Shipping | $1,200 | $1,800 |
| License/Permit/Registration Costs | $0 | $7,500 |
| Additional Funds (6 months) | $27,000 | $81,000 |
| Total | $99,600 | $180,600 |
Single territory. Office 500-1,000 sq ft ($1,000-$1,500/month). 6-month working capital included. GHC does NOT offer financing.
| Fee | Amount |
|---|---|
| Transfer Fee (third party) | $15,000 + brokerage |
| Transfer Fee (to existing GHC franchisee) | $5,000 |
| Annual Meeting | $475/person (mandatory, +5%/year max) |
| Remediation Training | $500/day per trainer + expenses |
| Default Penalty Royalty | Additional 2% of Gross Receipts until default cured |
| Late Report Fee | $25/week |
| Underreporting Interest | 12%/year; audit costs if 3%+ understatement |
| Printed Materials | $37-$453/month ($150 average) |
| Software (ongoing) | $120/month (≤30 clients); $8/client/month (31+) |
| Annual Maintenance | $100-$2,000 |
Total Hours
116.25
Instructor-Led
71.25h
Self-Paced/OJT
45h
Pre-HCA eLearning
Self-guided online (4-5 weeks) — 45h
Caregiver recruitment/retention, lead generation/sales, client management, business planning, software systems
HomeCare Academy On-Site
Classroom (GHC HQ, Blue Bell, PA — 2 weeks) — 71.25h
Company strategy, regulations/compliance, recruitment, sales, client intake/management, P&L/accounting, software, exam
Post-HCA Support
Remote (5-6 weeks) — 0h
Follow-up support and implementation guidance
What it takes to operate, grow, and stay compliant inside the system.
Variance Warning
Right at Home
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Synergy HomeCare
One of the largest and fastest-growing non-medical home care franchises — 626 units, 49% gross profit margin disclosed, 38% growth in 3 years, PE-backed by Levine Leichtman Capital Partners
Comfort Keepers
3rd-largest non-medical home care franchise — 624 outlets, $1.28M average revenue, Private Duty Nursing option, PE-backed by The Halifax Group, 26 years of franchising
CareBuilders at Home
Unique home care franchise — franchisor is employer of record for all caregivers. 28 outlets, $1.91M avg revenue, 35% gross margin, 9% royalty. Backed by ATC Healthcare ($142M revenue). Growing 75% in 3 years.
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