Forbes Magazine has named BrightStar Care the best low-investment franchise in America, in a report released mid-June. The brand ranked No. 1 in the category of companies with an entry cost of up to $150,000. In an effort to give investors who are looking to buy a franchise a glimpse into how different franchises’ health and appeal measure up, the list serves as a great starting point for research on the wide array of opportunities available within franchising.
The Forbes ranking was created using intel and statistics from FRANdata, which analyzed more than 3,300 active franchise brands and compiled data spanning 2013-2017. Researchers narrowed the selection to 60 brands that demonstrated satisfactory longevity, activity and scale. Finally, FRANdata ranked the franchises best to worst using criteria such as system sustainability, system demand, value for investment, franchisor support and stability.
“BrightStar Care is honored to receive this prestigious ranking from Forbes magazine. The BrightStar Care franchise opportunity is purposeful, and we couldn’t do it without our outstanding franchise partners,” said Shelly Sun, CEO and co-founder of BrightStar Care. “No matter which BrightStar Care location you or your loved ones are near, our entire system of franchise partners are working hard every day to maintain our well-earned reputation.”
Competition remains fierce in the healthcare field. In fact, in 2018 healthcare employment surpassed 16 million, making it the largest and fastest-growing industry in the U.S. economy. With the demand rising, along with the number of independent and franchise brands, BrightStar Care continuously comes out on top. The company is the only national home care or home health care franchise to receive The Joint Commission’s Enterprise Champion for Quality award every year since the award’s inception and in 2018, the BrightStar Care ranked No. 75 on Entrepreneur Magazine’s Franchise 500 list.
BrightStar Care offers both medical and non-medical private duty home care services, as well as medical staffing and each BrightStar Care location employs a Registered Nurse Director of Nursing who tailors unique, personalized plans of care for each client and oversees a professional care team of well-qualified, experienced caregivers. The company began franchising in 2005, and has since grown to a $350 million system with more than 330 locations across the U.S. and Canada.
Full results of the Forbes “best” and “worst” in franchising can be found here.