Executive Care Franchise Opportunities
Lenny Verkhoglaz and his wife and business partner Mila Feldman joined me on 105.5FM AND Money 2.0 to discuss a business they founded together 10 years ago. In 2004, they founded Executive Care, a business that provides a full range of in-home care services to individuals and families.
Lenny discusses the kinds of services offered. Executive Care has both non-medical and medical services, including skilled nursing, geriatric care, personal care and housekeeping, to name a few. Although seniors constitute the largest portion of their business, Executive Care also caters to children and adults with chronic illnesses and mentally and physically disabled persons.
Lenny says people considering running an Executive Care franchise should know that he and Mila have developed and perfected their systems. They offer a very structured and lengthy training program that includes a variety of support systems. He notes that they offer new franchisees 6 months free-payroll and billing. They also offer 6 months free use of their technology platform and offer sliding scale royalties. Lenny says they really set franchisees up initially so they can concentrate on building the business and hiring the staff. Lenny, who has a background in technology, adds that their customized technology platform has been perfected for their business.
Lenny also discusses general trends in their industry. He says regulation is a big part of managing this business, from federal laws right down to the local level. He talks about how the aging of baby boomers presents a tremendous Business Opportunity for franchisees. He also notes that Obamacare may present even more opportunities.
Lenny closes with discussion on who the ideal franchise candidate is for Executive Care. He says persons with strong management, marketing skills, and a corporate background are a good fit. He says time management skills are also very critical in managing all the different elements that are a part of this business.
If you would like to hear my conversation with Lenny and Mila, you are welcome to listen by clicking here. Lenny and Mila were my second guests in this interview. The conversation begins 28 minutes into the recording.