Griswold franchise unit economics
Griswold franchisees run in-home senior care agencies that bill clients by the hour for caregiver services across a defined territory.
Griswold franchise at a glance
Griswold’s Item 19 reports 2025 revenue for 59 franchised locations covering 112 territories, and caregiver pay as a share of sales at the franchisor’s own five offices.
Griswold franchisees averaged $2,048,633 of sales in 2025, with a median of $1,492,691, according to Item 19 of Griswold’s 2026 FDD, issued 20 April 2026. The 59 in that group are 44%* of Griswold’s 135 locations. Fees paid to Griswold come to about 6%* of sales. A Griswold franchise costs $99,600 to $185,600 to open.
- A Griswold franchise costs $99,600 to $185,600 to open, according to the brand's 2026 FDD.
- Griswold charges a royalty of 5% of sales and a 1% brand fund contribution.
- Work out Griswold's fees at your own sales with the minimum fee calculator.
- Griswold franchisees run an in-home senior care agency billing caregiver hours across a defined territory, with a median territory population of about 424,000.
These figures come from Griswold's 2026 Franchise Disclosure Document, as the brand reported them, and were read by Averan Advisors.
Own this franchise?
See what your numbers should look like every month.
Talk to Averan → Move your books and accounting to Averan →- Caregiver pay runs 49% of sales at the franchisor's own offices. Gross profit runs 49% to 53% across its five affiliate locations, averaging 51%.
- A territory bills about $1.74 per resident per year. The median single-territory owner bills $707,699 across a median territory population of 407,654.
- Year two roughly doubles revenue and year three adds a quarter. The five-year group went $276,547, $568,710, $721,511, $911,325, $1,113,502.
- Median revenue per territory runs $707,699 on one territory and $955,238 on four. The median per territory is $707,699 on one, $641,593 on two, $764,413 on three and $955,238 on four.
- The top quartile bills ten times the bottom. $4,559,826 against $440,491, and the bottom quartile grew 51% last year.
How much does a Griswold franchise make?
The average Griswold unit reported $2,048,633 of revenue in the 2026 FDD, and the median reported $1,492,691. The brand’s disclosure document discloses revenue and not profit, so what an owner keeps depends on the cost structure set out below. Fees come off the top first, at about 6% of sales across royalty, brand fund and the rest of the stack. Revenue is not income. Rent, wages, cost of goods and the franchise fees all come out before an owner is paid. The figures for the highest-selling and lowest-selling businesses are below.
Territory
Revenue by number of territories held
| Territories held | Owners | Average per owner | Median per owner | Average per territory | Median per territory |
|---|---|---|---|---|---|
| One | 23 | $1,379,078 | $707,699 | $1,379,078 | $707,699 |
| Two | 23 | $2,215,430 | $1,283,186 | $1,107,715 | $641,593 |
| Three | 9 | $2,477,080 | $2,293,238 | $825,693 | $764,413 |
| Four | 4 | $3,975,486 | $3,820,950 | $993,872 | $955,238 |
Owner averages and medians as the brand reported it.
Revenue per territory stays flat as owners add territories. The median runs $707,699 on one, $641,593 on two, $764,413 on three and $955,238 on four. So a second territory adds roughly another territory's worth of revenue. What multi-territory owners gain is scale on the office.
At the median that is $1.74 of revenue per resident per year. That is $707,699 across a territory of 407,654 people. The highest-selling single-territory owner bills $5,178,426, which in a territory of up to 966,052 is more than $5 per resident. The gap between those two figures is the real measure of how much of a market a Griswold agency can hold.
Territories run from 77,784 to 1,801,112 residents. The largest Griswold territory is 23 times the smallest. An owner benchmarking against the $2,048,633 average without knowing their own territory's population is comparing against a set that includes markets four times their size.
Revenue by quartile
| quartile | Locations | Average | Median | Lowest | Highest | Change on 2024 |
|---|---|---|---|---|---|---|
| First | 15 | $4,559,826 | $3,598,181 | $2,504,164 | $9,559,723 | +12% |
| Second | 15 | $2,061,646 | $1,864,860 | $1,347,173 | $4,684,178 | +11% |
| Third | 15 | $1,025,360 | $1,004,252 | $512,634 | $2,363,434 | +10% |
| Fourth | 14 | $440,491 | $246,776 | $61,937 | $2,591,007 | +51% |
As the brand reported it.
Every quartile grew, and the bottom one grew fastest. +51% against +10% to +12% for the rest. That is usually newer locations climbing off a low base. The bottom quarter's median of $246,776 against an average of $440,491 says most of it is still small.
The top quartile starts at $2,504,164. The highest office in the second quartile, at $4,684,178, sells more than that, so the quartile ranges in Griswold's Item 19 overlap. The top quarter averages ten times the bottom. On a territory model, that is a question about market and years open before it is a question about operating skill.
Top performers
What separates the top Griswold performers
Griswold splits its locations into groups instead of publishing one average. The top group averaged $4,559,826 a year. The lowest averaged $440,491. Both run the same brand, on the same agreement, paying the same fees. The middle location sold $1,492,691. The average was $2,048,633. More than half the system is below the number the brand quotes.
Decided before you open
- Site and trade area.The top band sells 10.4× the bottom band. Catchment, daytime population and neighboring businesses affect where a location falls.
- Territory.This model sells from a territory quoted at 408,000 people, with no storefront. Population density sets how much driving sits between jobs.
- Opening cost range.Opening costs $99,600 to $185,600, a 1.9× range inside one brand.
- Fees and the minimum.Fees run about 6.0% of sales. A minimum fee also applies, so lower-selling locations pay a higher effective rate. Work out the sales level where the percentage overtakes the minimum.
- Cash needed in the first year.This filing shows how a new location builds up: the month sales cover costs, and how much cash you fund before then.
Live operating levers
- Billed hours.You pay for every hour worked and bill only the hours a client accepts. Track hours worked against hours billed, and the rate charged against the rate paid.
Context you underwrite around
- Locations included.These figures cover 59 of 135 locations. Locations open less than the full year, brand-owned, or not meeting the reporting criteria are excluded.
- What the filing does not include.Item 19 publishes no profit or cost data for franchised locations, no attainment figure. The only margin figures in the document come from the brand’s own locations.
The first year, month by month
Revenue by year for new franchisees
| Open 1+ year (23 owners) | Open 2+ years (9) | Open 3+ years (6) | Open 4+ years (5) | Open 5+ years (3) | |
|---|---|---|---|---|---|
| Year 1 | $236,326 | $262,563 | $300,061 | $304,973 | $276,547 |
| Year 2 | n/a | $679,264 | $799,134 | $816,017 | $568,710 |
| Year 3 | n/a | n/a | $1,165,687 | $1,134,516 | $721,511 |
| Year 4 | n/a | n/a | n/a | $1,468,945 | $911,325 |
| Year 5 | n/a | n/a | n/a | n/a | $1,113,502 |
Averages as the brand reported it.
Year two adds more revenue than any later year in every Griswold group that reports one. The three-year group went $300,061 to $799,134, adding $499,073, then $366,554 in year three. The four-year group added $511,044 then $318,499 then $334,429.
The five-year group has the most history. Three owners grew from $276,547 to $1,113,502 over five years, with year two adding 106% and each year after adding 22% to 27%. That is a steady climb to roughly a million, which is a fair expectation against the $1,468,945 the four-year group reached.
Year one lands between $236,326 and $304,973 in every group. That holds across four separate groups of owners. So the first year is predictable and the second year is where the outcomes separate.
Revenue by years in the system
| Years | Average | Median | Lowest | Highest | Change on 2024 |
|---|---|---|---|---|---|
| 1 to 3 | $345,714 | $264,405 | $128,874 | $707,699 | +413% |
| 3 to 6 | $1,824,003 | $1,110,397 | $61,937 | $4,684,178 | +25% |
| 6 to 15 | $2,583,857 | $2,265,089 | $465,449 | $9,440,774 | +8% |
| 15 to 20 | $2,007,772 | $1,708,320 | $425,552 | $4,188,894 | +24% |
| Over 20 | $2,841,570 | $2,293,238 | $802,200 | $9,559,723 | +5% |
As the brand reported it.
Griswold offices open more than 20 years have the highest median, $2,293,238. The median is $2,265,089 for offices open six to fifteen years and $1,708,320 for those open 15 to 20 years. Sales grew 25% on 2024 for offices open three to six years, 8% for six to fifteen years, 24% for 15 to 20 years and 5% for offices past 20 years.
Discounts available
- Griswold takes 20% off the first territory's fee for honorably discharged military veterans under VetFran.
- Griswold takes 15% off the then-current fee for one additional territory (e.g., $42,075 instead of $49,500).
- Griswold may give existing franchisees whose gross receipts beat the system average an extra 5% off additional territories.
- Griswold charges no initial fee to existing Griswold franchisees who sign the Addendum to Agency Franchise Agreement.
From Item 5 of the Griswold 2026 FDD. The costs on this page use the full initial franchise fee for one unit, before any discount.
Fees and the network
Franchisor-owned offices
| Location | Territories | total sales | gross profit | Per territory |
|---|---|---|---|---|
| 1 | 2 | $4,364,021 | 49% | $2,182,011 |
| 2 | 5 | $3,480,384 | 51% | $696,077 |
| 3 | 2 | $2,725,026 | 52% | $1,362,513 |
| 4 | 1 | $1,189,594 | 51% | $1,189,594 |
| 5 | 1 | $1,809,075 | 53% | $1,809,075 |
| Average | n/a | $2,713,620 | 51% | n/a |
The brand reported total sales and gross margin.
Gross profit after caregiver pay is 49% of sales at the franchisor's highest-selling office and 51% at its lowest-selling office. Griswold's five affiliate offices range from 49% to 53%, averaging 51% left after caregiver pay.
Caregiver pay is the only cost the document reports. Everything below it (office staff, recruiting, insurance, rent, the franchisor's fees) is left to you to work out. With 51% left after caregiver pay, a $1,000,000 territory has $510,000 to cover all of that and the owner.
What the fees come to
| Fee | Amount |
|---|---|
| Royalty | The greater of 5% of total sales or the minimum performance requirement |
| Minimum performance requirement | $100 a week from the second calendar year after opening |
| General marketing fee | The greater of $75 a week or 1% of total sales |
| Local marketing program | Required from within 180 days of opening |
| Annual quota deficiency | Varies |
As the brand reported it.
The minimum royalty is $5,200 a year. Griswold's minimum compares with Amada's $48,000 and Senior Helpers' $62,500 at maturity. Even the lowest-selling disclosed location at $61,937 pays $5,200, an effective 8.4%, where the equivalent elsewhere would be above 30%. For an owner in a slow market that difference is the whole argument.
Brand fees total 6% of receipts once past the minimums. That is a 5% royalty and a 1% marketing fund. With 51% left after caregiver pay, the brand's fees take a tenth of that. Office costs take the rest.
The network of locations
| Year | Franchised at year end | Company-owned | Net change, total |
|---|---|---|---|
| 2023 | 95 | 16 | 0 |
| 2024 | 114 | 11 | +14 |
| 2025 | 135 | 11 | +21 |
As the brand reported it, covering the Agency Business Model on offer here.
Agency model outlets grew from 95 to 135 in two years. Part of that is new openings and part is legacy Registry outlets converting across. For an existing Agency owner the practical point is that the brand's attention and its benchmarking now sit with this model.
Questions we get asked
How much does a Griswold franchise make?
Griswold franchisees averaged $2,048,633 of sales in 2025, with a median of $1,492,691, according to Item 19 of Griswold’s 2026 FDD, issued 20 April 2026. The 59 in that group are 44%* of Griswold’s 135 locations. Fees paid to Griswold come to about 6%* of sales. A Griswold franchise costs $99,600 to $185,600 to open.
What should my gross profit be at Griswold?
49% to 53%, on the evidence of the franchisor's own five offices, which average 51%. Caregiver pay is the other half. Offices of very different sizes sit within four points of each other. So it works as a target. On a $1,000,000 territory, 51% leaves $510,000 to cover office staff, recruiting, insurance, rent, the 6% of fees and the owner.
What should a Griswold territory be billing?
The median single-territory owner bills $707,699, which is about $1.74 per resident across a median territory population of 407,654. Across all 59 locations the median is $1,492,691 and the average $2,048,633, but those cover owners with up to four territories. Check your own territory population before comparing, since the system runs from 77,784 to 1,801,112 residents.
How fast does a new Griswold agency build-up?
Year one lands between $236,326 and $304,973 across the five Griswold groups. Year two adds $499,073 to $511,044 in the three-year and four-year groups. After that each year adds 22% to 46%. The five-year group reached $1,113,502 and the four-year group $1,468,945. So somewhere around a million by year five is the fair expectation.
Is a second territory worth it at Griswold?
It adds revenue. Median revenue per territory runs $707,699 on one, $641,593 on two, $764,413 on three and $955,238 on four, essentially flat. What a second territory buys is more volume across the same office, scheduling team and recruiting effort, so the case rests on your fixed costs.
Who does bookkeeping for a Griswold franchise?
The brand measures owners on gross margin. Keep caregiver pay separate from office wages in the books, and keep overtime on its own line. Total sales for royalty exclude client reimbursements for mileage and actual expenses, so those pass-through flows need their own accounts. Owners with multiple territories need per-territory reporting alongside the consolidated view. That is because the per-territory figures are what tell you whether the second one is carrying its own weight. Averan provides bookkeeping, controller, and fractional CFO support for franchise owners and has Certified QuickBooks ProAdvisors on the team.
- The filing gives no profit figure. The filing reports sales and not earnings, so what an owner keeps is not disclosed.
- The filing gives no attainment figure. The filing does not say how many locations reached the average it publishes.
Questions worth putting to Griswold
The filing answers what it answers. These are the gaps an owner or a buyer should close directly.
- What do locations at the median spend on wages and rent as a share of sales? The filing reports sales only.
- Which factors does Griswold see in its highest-selling locations, such as trade area, years open and size?
- How long does a new location take to reach the average you publish, and what does the build-up look like month by month?
- At what level of sales do the minimum charges stop applying and the percentage take over?
- How many Griswold locations closed, were sold, or changed hands last year, and why?
Run your own numbers.
The Franchise Numbers Check runs the same checks on your own numbers. It scores where you stand and compares you with Item 19 of your brand’s FDD. It works out what one location earns and spends, and builds a 13-week cash forecast. It checks whether you are ready to open another one. It is free and it runs in your browser.
Launch the diagnostic →Run these numbers against your own agency.
We review your unit economics, cash forecast and reporting, so you know where you stand against the disclosed benchmarks.
Talk to AveranWhere these figures come from.
Every figure here comes from Griswold International, LLC's 2026 FDD, issued 20 April 2026 and covering the 2025 calendar year. The document is unaudited by us. We are unaffiliated with the brand. The figures describe past performance at other franchised locations. Calculations of our own are labeled where they appear. This page is an educational summary and is not legal or tax advice. GRISWOLD® is a registered trademark of its owner. How Averan reads a Franchise Disclosure Document.
These figures come from the brand's disclosure. They are not a forecast, an offer to sell a franchise or advice. Source: Griswold International, LLC, 2026 Franchise Disclosure Document, issued 20 April 2026.
the franchise library, all 447 brands · how franchise unit economics work · running the books across several locations · what Averan does for franchise owners
Griswold reads against the rest of the non-medical home care group: Assisting Hands Home Care · CareBuilders At Home · Caring Senior Service · ComForCare · Comfort Keepers · Executive Home Care. The non-medical home care guide compares all of them on the same figures.
Questions owners ask next
The figures above raise these, and each one is answered on its own page.
- At what level of sales does a minimum fee stop costing me more than the percentage?It works out the sales level where a minimum fee stops applying.
- How much cash do I fund before a new location covers its own costs?It builds a 13-week forecast for the months before break-even.
- My payroll percentage keeps climbing. Is that a payroll problem?It shows how to tell whether payroll is rising or revenue is falling.
- I run several locations. Which ones actually make money?It shows each location's contribution to profit and the reporting it takes to see it.
- How much of Item 19 can I rely on?It explains what an Item 19 financial performance representation tells you and what it leaves out.