Fortune 500 Engineer Becomes a Business Owner with Right at Home Franchise

After a successful career that spanned the wide range of an engineer at a Fortune 500 company, project management, business development and private equity, Praveen Vaida wanted to build something for himself.

After doing some research, Vaida found that the home care industry was well-positioned for growth given the increasing aging population. He came across an opportunity with Right at Home*, the in-home care franchise with over 700 units, that would allow him to break into this industry with the support of a well-established brand, while also giving him the opportunity to provide care to people who need it in the comfort of their own homes.

Vaida has experienced providing care for family members himself and knows the importance of providing support to someone who is elderly, recovering from injury or otherwise in need of care.

“My grandma used to live with us and after she had cataract surgery, I would take care of her. For some reason she thought my hands were lucky hands, so she wouldn't let anybody else put medicine in her eyes except me,” he said.

From his own experiences in caring for family members and sharing that responsibility with his mother and aunts, he learned the positive impact quality care can have not only on the client receiving care, but on their loved ones. It provides them much needed relief and peace of mind, keeping the whole family feeling much more comfortable.

Vaida is looking forward to providing this service to other families in his community with his own Right at Home franchise in Columbus, Ohio. 

1851 Franchise spoke with Vaida about his journey into franchising and his plans for the future. 

PROFILE QUESTIONS

1851 Franchise: Frame your personal story for us. What did you do before franchising, and how did you decide franchising made sense for you?

Vaida: Previously, I have worked in engineering for a Fortune 500 company, and later in project management and business development, where I was responsible for a $70 million portfolio. At the same time, I got my MBA, before moving into micro-private equity.

After doing some research surrounding multiple industries, home care stood out as an attractive industry from a business perspective. Coming out of private equity, I wanted to do something on my own with money from myself, friends and family. A franchise offers support, and since I am going at this on my own, that made the concept attractive to me.

1851: What was your perception of franchising prior to becoming a franchisee, and what do you want people to know about franchising now that you are in it?

Vaida: The biggest concern people seem to have is not having control over their own business. It seems like it could be one sided, with a power asymmetry in favor of the franchisor. 

With Right at Home, however, there is a group of franchisees who evaluate all of the new policies within Right at Home, so that power is shared. The franchisor doesn’t want to make significant changes that affect the successful model, and franchisees have a say in what happens.

The systems and support in place are very beneficial. You would pay a lot to set all of that up for yourself if you didn’t go through a franchisor.

1851: What made you pick this brand? What excites you most about this company?

Vaida: The support I have received from the brand through onboarding has been excellent. I spoke to five or six owners before making my purchase. Right at Home actually requires this, but they were all really happy with the brand and the growth they’ve seen. 

During COVID, I heard that the brand owners were really pleased with the support they received, even when things were difficult.

1851: What do you hope to achieve with your business? What are your plans for growth? 

Vaida: I want to take care of my clients and their family members, making sure they are comfortable and confident with what this brand provides. The loved ones of our clients are trusting us, so we need to ensure we are providing a high quality of care.

One of the territories I am acquiring has a lot of room for growth, so I am looking forward to growing that territory in particular. It has a lot of potential, possibly even enough to double my business. The other two territories I will be working with are more established. 

I hope to eventually expand into Indiana; I have spoken to other franchisees who have had success in expanding into a neighboring state, and I’d love to mimic their success.

1851: What is the one thing about your story you want us to know?

Vaida: Initially, I came into this industry with the standpoint of investing. However, as I have been going through the process, my mindset has changed. My grandmother’s leg has recently been amputated, and my family has been trying to manage her care.

I am from India. It's very normal for parents to come live with their kids and be taken care of mainly by their sons. My grandma used to live with us, and after she had cataract surgery, I would take care of her. For some reason she thought my hands were lucky hands, so she wouldn't let anybody else put medicine in her eyes except me.

What I’ve learned is that the care provided impacts not just the client who needs care but also the family members. It helps them keep a healthy family dynamic.

1851: What advice do you have for other people thinking about becoming a franchise owner?

Vaida: Do your research and talk to existing owners. What do they think of the brand and the expenses they are paying? Ask how they feel about the royalty fee? This will help you understand your investment.

ABOUT RIGHT AT HOME:

Founded in 1995, Right at Home offers in-home care to seniors and adults with disabilities who want to live independently. Most Right at Home offices are independently owned and operated and directly employ and supervise all caregiving staff. Each caregiver is thoroughly screened, trained, and bonded/insured before entering a client’s home. Right at Home’s global office is based in Omaha, Nebraska, with more than 700 franchise locations in the U.S. and five other countries. For more information about Right at Home, visit https://www.rightathome.net or read the Right at Home blog at https://www.rightathome.net/blog/.