Lightest fee structure in home care (4% royalty, 6.9% total) with 49.9% disclosed gross margin — but $4.2M contingent liability and franchisor net losses
Franchises · Non Medical Franchises · FDD 2025
Lightest fee structure in home care (4% royalty, 6.9% total, drops to 5.1% at $2M). 49.9% disclosed affiliate gross margin. No renewal fee. 1-year/20-mile non-compete (tightest in category). But: $4.2M contingent liability, 3 years net losses, gag clauses on former franchisees.
Non-Medical Home Care, Personal Care, Companion Care, Homemaker Services (Agency/W-2 Model)
Griswold Home Care is a strong franchise opportunity with 125 US outlets and $1.7M median revenue across 33% of franchisees meeting the average. Revenue data is transparent, though no P&L is disclosed.
Median franchise earns $1.7M/year in gross revenue
Steady growth from 111 to 125 outlets — stable expansion without overextension
Zero franchisee exits recently — nobody is walking away, which is a strong positive signal
Griswold Home Care is one of the most established non-medical home care franchises, with predecessors dating to 1984. The Agency Model (W-2 caregivers) provides more operational control than registry models. Item 19 is among the most comprehensive in the industry: $2.13M average across 48 locations with ~50% affiliate gross margin and 12.2% system-wide YoY growth. The 4% royalty + 0.5% marketing = 4.5% total fee is the lowest in our dataset (vs 5%+2% for most competitors). $0 renewal fee is exceptional. Key concerns: escalating Annual Sales Performance Metric ($250K-$700K), $2.6M arbitration loss to a franchisee (under appeal), and COO's prior company bankruptcy. 20 new territories opened in 2024 (+21% growth) signals strong momentum.
Our assessments reflect independent analysis of publicly-filed Franchise Disclosure Documents, state registration disclosures, and court filings. This is not legal, financial, or investment advice. Franchisors may submit corrections through our vendor portal.
This is the single most important question. The data below comes directly from the franchise's legally required disclosure document (FDD Item 19).
Franchisees earn a median of $1.7M/year, close to the $2.1M average — a healthy, even distribution suggesting consistent results.
This median revenue is in the top tier among non-medical home care franchises in our database.
Average Revenue
$2.1M
Median Revenue
$1.7M
More reliable benchmark
Top Performer
$7.5M
Bottom Performer
$62K
Why this matters for you:
4 of 48 franchisees (8%) are in the highest revenue band (Over $5M), while 3 (6%) are in the lowest (Under $500K).
A healthy system has most franchisees in the middle bands. Heavy clustering at the bottom is a warning sign.
Estimated using industry benchmark margins (no P&L disclosed by this franchise)
At median franchise revenue ($1.7M), the estimated owner take-home is roughly $351K/year — including a $50K owner salary.
This is a strong return relative to the investment — above typical franchise earnings.
Revenue is not profit. This table translates gross revenue into estimated owner take-home using industry benchmark margins. The highlighted row is closest to the median revenue ($1.7M).
| Revenue | Gross Profit | Est. Net | Owner Take-Home |
|---|---|---|---|
| $500K | $210K | $90K | $140K |
| $750K | $315K | $135K | $185K |
| $1.0M | $420K | $180K | $230K |
| $1.5M | $630K | $270K | $320K |
| $1.7MMEDIAN | $703K | $301K | $351K |
| $2.0M | $840K | $360K | $410K |
| $3.0M | $1.3M | $540K | $590K |
Gross margin: 42% | Est. overhead: 20% | Franchise fees: 4% | Owner salary: $50K added
Margins estimated from industry benchmarks. Your results will depend on market, management, and tenure.
Outlet count, growth trajectory, and churn — signals of system health
Moderate, steady growth — the system is expanding without overextending. A balanced signal.
Steady growth suggests the franchisor is being selective about new franchisees, which typically means better support per franchise.
What this means for you:
Upfront investment, ongoing fees, and minimum performance requirements
What you need to write checks for before earning your first dollar.
Year 1: 4% of Gross Receipts (no minimum). Year 2+: greater of 4% or $100/week.
Key metrics that signal whether franchisees in this system tend to succeed or struggle.
Small system — less track record
Transfers suggest a liquid resale market — good for exit planning
What fraction of franchisees actually hit the system average
Combined royalty + ad fund is 4% of gross revenue — below average, leaving you with more of each dollar earned.
These recurring fees come off the top of your revenue every month, regardless of profitability.
These fees are deducted before you see any profit. At $500K revenue with 4% combined fees, that's $20K/year going to the franchisor — before you pay rent, staff, or yourself.
Complexity, risk scoring, and key signals to watch
Moderate complexity — manageable for most operators with proper training. The biggest challenge area is revenue potential (9/10).
Each dimension scored 1-10. Higher = more complex or risky. The shape shows where this franchise's challenges concentrate.
More strengths than watch items — the positives outweigh the negatives on paper. (12 strengths, 8 watch items)
Your franchise is only as strong as the company behind it. A weak franchisor can't deliver on training, marketing, or technology promises — regardless of how good the business model is.
A financially weak franchisor may struggle to provide training, marketing, technology, and ongoing support. If they can't sustain themselves, your investment is at risk regardless of your own performance.
Griswold Home Care is a high-revenue system — the median location does $1,672,644/year across 48 offices. This is a mature, proven model with strong unit economics.
Median Revenue
$1,672,644
Average Revenue
$2,131,036
Locations
48
Median Revenue
$1,672,644
Average Revenue
$2,131,036
% Meeting Average
33%
Mature locations (20+ years) average $2,652,759 — roughly 2.7x what newer locations (1-5 years) earn at $966,301. This is a slow-ramp business that rewards patience.
| Time Open | Outlets | Average | Median | Range | % > Avg |
|---|---|---|---|---|---|
| 1-5 years | 8 | $966,301 | $956,489 | $61,573 – $2,429,728 | 50% |
| 5-15 years | 20 | $2,176,595 | $1,869,005 | $440,000 – $7,472,253 | 30% |
| 15-20 years | 3 | $1,976,829 | $2,332,104 | $386,123 – $3,212,260 | 67% |
| 20+ years | 17 | $2,652,759 | $1,587,454 | $953,642 – $7,190,556 | 41% |
Average
$1,421,993
Median
$1,328,420
Low
$61,573
High
$4,438,537
| Quartile | Count | Average | Median | Range | Gross Profit |
|---|---|---|---|---|---|
| 1st (Top 25%) | 12 | $4,502,710 | $3,802,077 | $2,920,504 – $7,472,253 | 0% |
| 2nd | 12 | $2,073,891 | $1,962,576 | $1,757,833 – $2,468,498 | 0% |
| 3rd | 12 | $1,330,438 | $1,313,345 | $1,168,813 – $1,587,454 | 0% |
| 4th (Bottom 25%) | 12 | $617,103 | $607,266 | $61,573 – $1,050,266 | 0% |
Mature locations (20+ years) average $2.65M. System grew 12.2% YoY. Affiliate data shows ~50% gross margin. Single-territory owners grew 24.8% YoY — strongest cohort growth. Top quartile averages $4.5M. Bottom quartile averages $617K (-0.8% YoY). 4% royalty is lowest in the dataset.
The system grew from 108 to 125 total locations (2022-2024), a net increase of 17 units.
| Year | Franchised | Company | Total | Net Change |
|---|---|---|---|---|
| 2022 | 95 | 16 | 111 | +3 |
| 2023 | 95 | 16 | 111 | 0 |
| 2024 | 114 | 11 | 125 | +14 |
| Year | Opened | Terminated | Non-Renewals | Reacquired | Transfers |
|---|---|---|---|---|---|
| 2022 | 3 | 0 | 0 | 1 | 6 |
| 2023 | 5 | 0 | 0 | 0 | 1 |
| 2024 | 20 | 1 | 0 | 0 | 3 |
11 company-owned at end 2024 (down from 16 — sold 2 to franchisees, closed 3). 68 legacy Registry Model franchised locations also exist (stable, no longer offered to new franchisees).
In last 3 fiscal years, franchisees have signed confidentiality clauses restricting ability to speak openly.
Key considerations before investing — your outcome depends more on you than the brand.
| Item | Low | High |
|---|---|---|
| Initial Franchise Fee | $49,500 | $54,500 |
| Living Expenses While Training | $3,000 | $5,000 |
| Office Lease | $9,500 | $15,000 |
| Office Equipment | $2,500 | $4,000 |
| First Year Software Fee + Installation | $1,750 | $1,750 |
| Other Technology | $1,250 | $3,500 |
| Signage | $50 | $1,000 |
| Opening Office Supplies/Inventory | $50 | $750 |
| Insurance (6 months GL + workers comp) | $3,800 | $4,800 |
| Printed Materials and Shipping | $1,200 | $1,800 |
| License/Permit/Registration Costs | $0 | $7,500 |
| Additional Funds (6 months) | $27,000 | $81,000 |
| Total | $99,600 | $180,600 |
Single territory. Office 500-1,000 sq ft ($1,000-$1,500/month). 6-month working capital included. GHC does NOT offer financing.
| Fee | Amount |
|---|---|
| Transfer Fee (third party) | $15,000 + brokerage |
| Transfer Fee (to existing GHC franchisee) | $5,000 |
| Annual Meeting | $475/person (mandatory, +5%/year max) |
| Remediation Training | $500/day per trainer + expenses |
| Default Penalty Royalty | Additional 2% of Gross Receipts until default cured |
| Late Report Fee | $25/week |
| Underreporting Interest | 12%/year; audit costs if 3%+ understatement |
| Printed Materials | $37-$453/month ($150 average) |
| Software (ongoing) | $120/month (≤30 clients); $8/client/month (31+) |
| Annual Maintenance | $100-$2,000 |
Total Hours
116.25
Instructor-Led
71.25h
Self-Paced/OJT
45h
Pre-HCA eLearning
Self-guided online (4-5 weeks) — 45h
Caregiver recruitment/retention, lead generation/sales, client management, business planning, software systems
HomeCare Academy On-Site
Classroom (GHC HQ, Blue Bell, PA — 2 weeks) — 71.25h
Company strategy, regulations/compliance, recruitment, sales, client intake/management, P&L/accounting, software, exam
Post-HCA Support
Remote (5-6 weeks) — 0h
Follow-up support and implementation guidance
Overview, fees, territory, training, and raw data tables
Legal Entity
Griswold International, LLC
State of Organization
Delaware
Headquarters
510 East Township Line Road, Suite 210, Blue Bell, Pennsylvania 19422
Business Model
Office-based (500-1,000 sq ft). Agency Model — caregivers are W-2 employees of franchisee (not independent contractors). Open within 60-120 days.
Franchising Since
2009 (predecessors since 1984)
FDD Issue Date
2025-04-18
Parent Company
Griswold Investors, LLC (375 Park Avenue, Suite 3408, New York, NY 10152)
Contact
Lorraine Sheak — Lorraine@GriswoldHomeCare.com
Services Offered
Key Differentiators
Franchise Fee
$49,500
Total Investment
$99,600 – $180,600
Royalty
4%
Gross Receipts (greater of 4% or Minimum Performance Requirement of $100/week starting year 2)
Marketing
Greater of $75/week or 0.5% of Gross Receipts
Franchise Fee: $49,500 for territory of 250,000 pop or 25,000 seniors 65+. $54,500 for expanded territory (300,000 pop). VetFran 20% discount (5-star rating). Multi-territory 15% discount. High-performer additional 5% discount. Conversion: $0 for existing Griswold franchisees.
Investment Notes: Single territory. Office 500-1,000 sq ft ($1,000-$1,500/month). 6-month working capital included. GHC does NOT offer financing.
Veteran Discount: 20% off IFF (5-star VetFran)
Marketing Fund: FY2024 spend: 23.9% paid digital marketing, 15.8% operations vendors, 13.4% web development, 13.0% video production, 9.5% graphic design, 6.9% PR, 4.8% consultants, 4.6% reviews/reputation, 3.8% software, 2.6% promo, 1.1% email, 0.4% printing, 0.2% conference.
Local Advertising: $12,000/year ($6,000 if dedicated sales person hired or 2-member family operation)
Technology Fee: $120/month (up to 30 clients); $8/client/month at 31+ clients. First Year Software Fee: $1,750.
| Months | Monthly Minimum |
|---|---|
| Year 1 | 4% of Gross Receipts (no minimum) |
| Year 2+ | Greater of 4% of Gross Receipts or $100/week |
Initial Term
10 years
Renewal Term
5 years
Exclusive Territory
Yes
Territory Definition
Population of 250,000 or 25,000 seniors 65+ (whichever is greater). Based on ESRI demographics.
Renewal Fee
$0 (no fee)
Dispute Resolution
Notice/discussion (60 days) → Mediation (Philadelphia, AAA) → Arbitration (Philadelphia). Forum: E.D. Pennsylvania. Pennsylvania law.
Post-Term Non-Compete
1 year within territory, 20-mile radius of territory, or 20 miles of any GHC franchise/company-owned office.
Renewal Terms
Unlimited 5-year increments at no additional cost
Personal Guarantee
Required from any individual holding 5%+ ownership interest.
Territory Note: Protected territory by zip codes/county lines. GHC will not open another location using the Marks in your territory as long as not in default. However, GHC reserves rights to: use Marks for non-competitive products; grant other franchisees different services under different marks; operate outside territory; develop related businesses. Max 2 territories per franchisee. No internet/e-commerce rights.
2024 data — Gross Receipts for 48 franchised locations (92 territories) operating full year 2024. Excludes 20 territories opened during 2024. Not audited. Does not contain operating costs except affiliate gross margin.
Cost to launch
Year 1: 4% of Gross Receipts (no minimum). Year 2+: greater of 4% or $100/week.
What franchisees earn
Gross Margin
~50%%
Term
10 years (unlimited 5-year renewals at $0)
Renewal
$0
Disputes
Discussion → Mediation → Arbitration (Philadelphia, PA). Pennsylvania law.
Financing
Not available
Territory
Population of 250,000 or 25,000 seniors 65+ (whichever greater).
Exclusivity
Exclusive protected territory by zip codes. Max 2 territories per franchisee.
Performance Variance Warning
Wide range: $62K to $7.47M across 48 locations. Top quartile averages $4.5M while bottom quartile averages $617K (-0.8% YoY). Median ($1.67M) is well below average ($2.13M), indicating top-heavy distribution skewed by large multi-territory operators.
A deeper look at the specific advantages and risks of this franchise, based on FDD analysis.
Non-medical home care franchise providing personal care, homemaking, companion care, and incidental transportation to older adults and disabled persons. Agency Model — caregivers are W-2 employees of the franchisee.
Founded
1984
Employees
50-200
Headquarters
Blue Bell, PA
Training
116 hours (11-15 weeks)
Michael Slupecki, MSA, MBA
CEO (since Feb 2020)
Katherine Schiavino, MBA, CPA
CFO (since Feb 2021)
Steven Turner
COO (since Jun 2021)
Shelley Kanther
VP of Marketing (since 2020)
Amanda Lepore
Senior Director of Learning & Development (since 2014)
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