New Yorkers Share Their Franchise Experiences
With the city’s unemployment rate topping 10%, many jobless New Yorkers are considering ways to become their own boss.
Some move to launch startups on their own, others partner with former co-workers. And some look for opportunities to expand a thriving business as a franchisee.
Depending on the business, becoming a franchisee can mean very different expenses and expectations. Your Money spoke with three New Yorkers in different industries about their franchise experiences.
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Well into a career as a geriatric social worker, Jackie Reiter bought a Home Instead Senior Care franchise in Staten Island seven years ago for $18,500 (today’s price: $35,500).
The franchise idea was appealing because she wouldn’t be working alone and would get business support.
“When I learned about this one,” added Reiter, 53, of Annadale, Staten Island, “I realized that it’s exactly what I stand for — helping the elderly, believing in their dignity and being respectful to them.”
Some clients are in temporary rehab or assisted-living facilities, or hospitals or nursing homes.
Home Instead Senior Care provides quality-of-life services, such as companionship and safety supervision through nonmedical home care services, meal preparation, light housekeeping, laundry and errands.
Clients pay $17.50 an hour with a three-hour minimum.
“Franchises tend to have a model that works,” Reiter said. “You don’t have to reinvent the wheel.”
