Franchise Deep Dive: Griswold's Franchise Costs, Fees, Profit and Data

The Griswold Home Care concept offers a way to give back to the community while owning a profitable venture.

By Katie Porter1851 Franchise Contributor

8:08AM • 03/06/23

LAST UPDATED: Jan 6, 2023

FRANCHISE WEBSITE: https://griswoldhomecarefranchise.com/

NUMBER OF LOCATIONS: 170

REPORTED COST TO GET IN: $95,850 – $174,100

AVERAGE REVENUE PER UNIT: $1,060,279

Griswold is a home care company that provides services to elderly, disabled and sick persons. Through the franchise’s services, people are able to remain in their homes with quality aid, and franchise owners reap the benefits of owning a business that makes a difference. Griswold was one of the first non-medical home care franchise in the country and continues to grow as a top brand in the $97 billion industry. Its top competitors include Home Instead Senior Care, Visiting Angels and Synergy HomeCare.

How Many Griswold Locations Are There?

There are 170 Griswold locations in operation as of 2022. The brand operates in 30 states, with a large concentration in New Jersey, Florida and Pennsylvania.

1851 Franchise shows the brand’s top growth markets, which include California, Texas, Colorado, Illinois, Minnesota, Ohio, Wisconsin, Virginia, Kentucky and more. Currently, the company is not offering franchises in Alaska, Hawaii, Montana, Wyoming, North or South Dakota, Vermont, New York, Connecticut, New Jersey or Delaware.

The brand was founded in 1982 by Dr. Jean Griswold, who was driven by the goal of offering help to seniors and vulnerable people in their homes. The company was initially named Overnight Sitting Service, then changed to Special Care Inc. and eventually became Griswold Home Care. In 2022, the franchise announced a brand evolution and is now Griswold.

Over the years, the company has proved to be a powerhouse in the home care industry. Within seven years of business, the brand had grown revenue to $10 million and was in multiple states. Just three years later, revenue was $80 million.

What is the Griswold Business Model?

Griswold offers non-medical home care to people who need help with daily tasks in their residence. Franchisees have a staff of trusted caregivers who can handle things like pet care, personal care and household assistance for those who are disabled, ill, elderly or need help for any other reason. The Griswold staff can do chores and errands, help with personal care, cook and prepare meals, do laundry, shop and run errands, and be an overall companion to patients.

The business must be run full-time by the owner and must have at least three employees to operate successfully. Franchisees must go through 45 hours of on-the-job training and 71 hours of classroom instruction prior to starting operations. Griswold offers owners extensive support, from ongoing training to extensive national and regional advertising campaigns and digital marketing.

The brand is known for having some of the largest territories in the industry. Owners sign on for an initial territory of 250,000 (25,000 senior citizens), and have the option to expand the size of the territory for an additional cost.

Prior to 2016, the brand offered two models, depending on state regulations. There was a full-time employment model and a registry model, the difference being how caregivers were connected with the client via either direct hire or referral. After federal laws changed, the company has now adopted a full employment model.

How Much Can Griswold Franchise Owners Make?

Per Item 19 of the Franchise Disclosure Document, Griswold's average gross receipt is $1,060,279. However, individuals' results may differ.

How Much Does it Cost to Open a Griswold?

The estimated total investment necessary to begin the operation of a Griswold franchise ranges between $95,850 – $174,100. Item 7 from the brand’s 2022 FDD details the itemized figures involved with those costs:

Living Expenses While Training: $3,000 – $5,000

Office Lease: $9,000 – $13,000

Office Equipment: $2,500 – $4,000

First Year Computer Software Fee and Installation Fee: $1,750

Signage: $50 – $1,000

Opening Office Supplies and Inventory: $50 – $750

Insurance: $3,800 – $4,800

Printed Materials and Shipping: $1,200 – $1,800

License, Permit Registration or Certificate Costs: $0 – $7,500

Additional Funds (6 months): $25,000 – $80,000

Ongoing Costs and Fees include:

Royalty Fee: 4% of gross sales
Ad Royalty Fee: 0.5% of gross sales

What is the Franchise Fee for Griswold?

The standard franchise fee for Griswold is $49,500. This is an upfront fee that is paid to the franchisor for a territory of 250,000 people. Owners have the option to pay for an expanded region of an additional 50,000 people for a $5,000 upcharge. Griswold offers a 20% discount on the franchise fee for veterans who are interested in business ownership in the home care industry.

Owners have the option to purchase up to three territories, and the franchisor offers a 15% discount for additional agreements, bringing down the second and third franchise fees to $42,075 for a standard territory.

Who is the Leadership of Griswold?

What Helpful Articles Can I Read to Learn More About Griswold?

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