Forbes Names BrightStar Care One of America’s Top 10 Franchises for Third Straight Year
For the third year in a row, Forbes Magazine has named BrightStar Care one of the best franchises in America. Once again, BrightStar Care has left its mark in the top ten of the category of brands with entry costs of up to $150,000.
To create the list, FRANdata, the only research and information company that exclusively studies franchising, ranked brands according to the initial investment: up to $150,000; between $150,001 and $500,000; and $500,000 and up. FRANdata analyzed five-year growth rates and five-year continuity rates, a measure of how often an individual franchise has changed hands, among other factors, to make its determination. The average initial investment to own and operate a BrightStar Care franchise is $133,201 which includes an initial franchise fee of $50,000.
According to a research from IBISWorld, the home care industry is valued at $84 billion and is showing no signs of slowing down. With fierce competition around every turn, in-home care companies, both independent and franchised, need to differentiate themselves in the marketplace. BrightStar Care continues to set itself apart from the competition with one key factor—its provision of a higher standard of care, which is continuously validated by the Joint Commission. For the fourth year in a row, the nationally recognized healthcare quality standards organization awarded the company with the Enterprise Champion for Quality Award. BrightStar Care is the only national homecare franchise to have earned this distinction.
“We operate in an ultra-competitive marketplace, so to be continuously recognized by prestigious organizations such as Forbes, where we rank among some of America’s top franchises, is extremely rewarding,” said Shelly Sun, CEO and co-founder of BrightStar Care. “The hard work and dedication of our corporate team, franchisees and the superior people that they employ are truly the keys to our success.”
BrightStar Care began franchising in 2005, and has since grown into a $335 million company with more than 300 locations nationwide with plans to add another 50 new franchise units across the U.S. by the end of 2016. With long-term goals that include operating in at least eight international markets and to serve 250,000 families in the next ten years, BrightStar Care has its sights set on industry domination. For its international expansion plans, the company has put a strong focus on Australia, New Zealand, Canada, Japan, and Western Europe.