Homewatch CareGivers franchise unit economics
Homewatch CareGivers franchisees run an in-home care agency billing caregiver hours for personal care, companion care and chronic condition support.
Homewatch CareGivers franchise at a glance
Homewatch CareGivers’ Item 19 reports fiscal 2025 revenue for 214 territories held by 112 franchisees, and direct caregiver cost as a share of revenue.
Homewatch CareGivers franchisees averaged $1,360,485 of sales in fiscal 2025, with a median of $665,688, according to Item 19 of Homewatch CareGivers’ 2026 FDD, issued 30 April 2026. The 214 in that group are 82%* of Homewatch CareGivers’ 260 locations. Fees paid to Homewatch CareGivers come to about 10%* of sales.
- A Homewatch CareGivers franchise costs $142,890 to $194,080 to open, according to the brand's 2026 FDD.
- Homewatch CareGivers charges a royalty of 5% of sales and a 2% brand fund contribution.
- On Averan's reading, Homewatch CareGivers's franchise fees come to about 10.19% of sales.
- 22% of reporting Homewatch CareGivers locations reached the average.
- At the average Homewatch CareGivers location, wages took 48% of sales.
- Work out Homewatch CareGivers's fees at your own sales with the minimum fee calculator.
- The lowest-cost fifth of Homewatch CareGivers owners spend 36% of revenue on caregiver wages and the highest-cost fifth 59%, a difference of 23 points.
These figures come from Homewatch CareGivers'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 cost runs 36% of revenue in the top fifth and 59% in the lowest. That is $312,912 a year of difference on an average territory. The average is 48%, the median 49%.
- One point of caregiver cost is worth $13,605 a year. That is on an average Homewatch territory. On the median territory it is $6,657.
- The average territory bills $1,360,485 and the median bills $665,688. The average is more than double the median, because one territory bills $33,373,300.
- A territory takes four years to clear $700,000. That is $228,407 in years one to two, $704,103 in years three to four, $1,576,768 past four.
- System growth halved last year, from 14% to 7%. $297.9 million of system-wide sales, and ten franchisees closed during 2025.
How much does a Homewatch CareGivers franchise make?
The average Homewatch CareGivers unit reported $1,360,485 of revenue in the 2026 FDD, and the median reported $665,688. Item 19 of the Homewatch CareGivers FDD publishes direct caregiver costs as a share of revenue for 94 franchisees running 201 territories, and what an owner keeps depends on the costs set out below. Fees come off the top first, at about 10.2% 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.
Caregiver cost
Caregiver cost as a share of sales
| Group | Caregiver cost | On the average territory | On the median territory |
|---|---|---|---|
| Lowest caregiver cost fifth | 36% | $489,775 | $239,648 |
| Average | 48% | $653,033 | $319,530 |
| Median | 49% | $666,638 | $326,187 |
| Highest caregiver cost fifth | 59% | $802,686 | $392,756 |
The brand reported these percentages. They cover 94 owners running 201 territories, who use the brand's benchmarking service, filed full 2025 accounts and had been in business at least two years.
Twenty-three points is $312,912 a year on an average territory. On a median Homewatch territory the same 23 points are $153,108 a year.
Caregiver cost includes overtime and payroll taxes. A scheduling pattern that pushes caregivers past forty hours converts straight-time hours into time and a half on the same billed revenue, and it shows up here. One point of caregiver cost is $13,605 a year at the average territory.
The median sits at 49%, a point above the average. That means the distribution is slightly weighted toward the worse end: more owners above the mean than below it. If you are at 52% you are worse than half your peer group, and the route to 48% is thirteen thousand dollars a point.
What the territories bill
| Per territory | Per franchisee | |
|---|---|---|
| Average | $1,360,485 | $2,599,498 |
| Median | $665,688 | $1,155,612 |
| Highest | $33,373,300 | $66,746,600 |
| Lowest | $26,422 | $26,422 |
| Above average | 47 (22%) | 32 (29%) |
As the brand reported it.
Only 22% of territories reach the average. That is $1,360,485 against a median of $665,688. The average is more than double the middle. One territory billing $33,373,300 is doing that on its own. Compare against $665,688 and against others open the same number of years.
The average franchisee runs 1.9 territories. That is 214 across 112 owners, rising to 2.15 among those past four years. So the typical owner here holds two territories and bills $2,599,498 across them, with a median of $1,155,612.
Top performers
What separates the top Homewatch CareGivers performers
Homewatch CareGivers publishes a range for its territories instead of grouped averages. The highest-selling of the 214 Homewatch CareGivers territories operating all of 2025 billed $33,373,300. The lowest-selling Homewatch CareGivers territory in that group billed $26,422. Both run the same brand, on the same agreement, paying the same fees. The middle location sold $665,688. The average was $1,360,485. More than half the system is below the number the brand quotes.
Decided before you open
- Site and trade area.The highest-selling Homewatch CareGivers territory sells 1263.1× the lowest-selling one. Catchment, daytime population and neighboring businesses affect where a location falls.
- Territory.This model sells from a territory, with no storefront. Population density sets how much driving sits between jobs.
- Opening cost range.Opening costs $142,890 to $194,080, a 1.4× range inside one brand.
- Fees and the minimum.Fees run about 10.2% 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
- Wages.Wages take 48.0% of sales.
- 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 214 of 260 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 of the Homewatch CareGivers FDD publishes direct caregiver costs as a share of revenue for 94 franchisees running 201 territories. Ask the franchisor or current owners for any cost line the filing leaves out.
Revenue by year
Revenue by years in business
| Years | Franchisees | Territories | Per franchisee | Average per territory | Median per territory | Lowest |
|---|---|---|---|---|---|---|
| 1 to 2 | 16 | 18 | 1.1 | $228,407 | $182,977 | $26,422 |
| 2 to 3 | 4 | 7 | 1.8 | $301,902 | $317,280 | $95,843 |
| 3 to 4 | 11 | 15 | 1.4 | $704,103 | $617,699 | $288,016 |
| Over 4 | 81 | 174 | 2.1 | $1,576,768 | $945,317 | $119,023 |
Franchisee counts, territory counts and revenue figures as the brand reported it.
Revenue per territory rises from $301,902 at two to three years to $704,103 at three to four years. That is $301,902 a territory at two to three years, rising to $704,103 at three to four years. That is the largest single jump in the table. It lines up with how long it takes to build a referral network with hospital discharge planners and case managers.
Past four years the median territory bills $945,317. One territory selling $33 million lifts that group's average to $1,576,768. Half the group sells less than $945,317. A mature Homewatch territory is roughly a million-dollar business, and its owner probably runs two of them.
The lowest territory past four years bills $119,023. One territory in the same group sells $33,373,300. Owners differ more within the mature group than the groups differ from each other.
System-wide sales, 2021 to 2025
| Year | System-wide sales | Growth |
|---|---|---|
| 2021 | $191,059,146 | n/a |
| 2022 | $211,550,548 | 11% |
| 2023 | $244,258,782 | 15% |
| 2024 | $277,310,987 | 14% |
| 2025 | $297,885,057 | 7% |
As the brand reported it, covering all franchisees operating for any part of each year.
Growth halved while the territory count rose 13%. Homewatch went from 231 territories to 260, and revenue rose 7%. The same-franchisee figure is also 7%, so existing Homewatch agencies grew more slowly in 2025 than in 2024.
Discounts available
- Homewatch CareGivers takes 30% off the fee (including any Additional Seniors Fee) for an existing franchisee's additional territory.
- Homewatch CareGivers charges existing franchisees of its affiliate brands $15,000 each for their first two territories and 30% off for the third and later territories in that first transaction.
- Homewatch CareGivers takes 30% off the first franchise's fee for honorably discharged U.S. and Canadian veterans and for active-duty U.S. and Canadian armed forces personnel.
- Homewatch CareGivers takes $5,000 off the first franchise's fee for businesses at least 51% owned by women, minorities or LGBTQ+ individuals.
From Item 5 of the Homewatch CareGivers 2026 FDD. The costs on this page use the full initial franchise fee for one unit, before any discount.
Fees and the network
Royalty and brand fund by revenue level
| Sales | Royalty at 5% | Brand fund | Brand fund rate | Total | Share |
|---|---|---|---|---|---|
| $665,688 (median territory) | $33,284 | $12,485 | 1.88% | $45,769 | 6.88% |
| $1,360,485 (average territory) | $68,024 | $21,105 | 1.55% | $89,129 | 6.55% |
| $3,387,131 (average mature franchisee) | $169,357 | $34,436 | 1.02% | $203,793 | 6.02% |
We applied the disclosed rates.
The brand fund starts at 2% each January and steps down as revenue passes set thresholds. It resets to 2% every January and steps down as the year's cumulative revenue passes $500,000, $1 million and $2 million. So your marketing contribution is front-loaded into the first months of each year and cheapest in December. On a mature franchisee the effective rate is 1.02% against 1.88% on a median territory.
The minimum royalty schedule
| Months open | Minimum | Per year | Annual revenue where 5% equals it |
|---|---|---|---|
| 0 to 6 | Zero | n/a | n/a |
| 7 to 12 | $500 a month | $6,000 | $120,000 |
| 13 to 24 | $1,000 a month | $12,000 | $240,000 |
| 25 to 36 | $1,250 a month | $15,000 | $300,000 |
| 37 to 48 | $1,500 a month | $18,000 | $360,000 |
| 49 to 60 | $2,000 a month | $24,000 | $480,000 |
| 61 and after | $2,500 a month | $30,000 | $600,000 |
Minimum royalty schedule as the brand reported it.
The thresholds sit close to the median territory at each age. That is $300,000 at months 25 to 36 against a two-to-three-year median of $317,280; $600,000 from month 61 against a mature median of $945,317. Set against Amada's equivalent schedule, which reaches $960,000 by year six, this one is easier to clear.
The network of locations
| Year | Start | End | Net change |
|---|---|---|---|
| 2023 | 222 | 213 | −9 |
| 2024 | 213 | 231 | +18 |
| 2025 | 231 | 260 | +29 |
As the brand reported it.
The network shrank in 2023 and has added 47 territories since. Homewatch went from 222 territories to 213, then to 260. Ten franchisees closed last year against 36 opening, so Homewatch closures are running alongside growth. For an existing owner the practical question is whether the 7% revenue growth holds as the newer territories mature.
Questions we get asked
How much does a Homewatch CareGivers franchise make?
Homewatch CareGivers franchisees averaged $1,360,485 of sales in fiscal 2025, with a median of $665,688, according to Item 19 of Homewatch CareGivers’ 2026 FDD, issued 30 April 2026. The 214 in that group are 82%* of Homewatch CareGivers’ 260 locations. Fees paid to Homewatch CareGivers come to about 10%* of sales.
What should my caregiver cost be at Homewatch CareGivers?
48% of sales is the average and 49% the median, across 94 franchisees running 201 territories. The lowest-cost fifth run at 36% and the highest-cost fifth at 59%. On an average territory of $1,360,485, that range is $312,912 a year. One point is worth $13,605. The definition covers wages including overtime plus payroll taxes, so benefits and workers' compensation sit on top of whatever number you are comparing.
What should a Homewatch CareGivers territory be billing?
The median territory bills $665,688 and the average $1,360,485, with only 22% of territories reaching the average. By years open, Homewatch territories billed $228,407 in years one to two, $301,902 in years two to three and $704,103 in years three to four. $1,576,768 past four years, where half sell less than $945,317. Year three is the big step, roughly doubling revenue.
How does the Homewatch CareGivers brand fund work?
It tapers through each calendar year and resets every January. The rate is 2% on your first $500,000 of revenue, 1.5% on the next $500,000, 1% on the next $1,000,000 and 0.5% above $2,000,000. On a median territory that averages 1.88% for the year; on a mature franchisee billing $3,387,131 it averages 1.02%. Your cash outflow is heaviest in the first months of each year.
How many territories do owners run at Homewatch CareGivers?
Homewatch owners hold 1.9 territories on average, rising to 2.1 among franchisees past four years. That is 214 territories across 112 owners. The average owner bills $2,599,498 with a median of $1,155,612. Because the brand fund rate tapers with revenue and the office overhead is shared, a second territory improves the economics of the first one.
Who does bookkeeping for a Homewatch CareGivers franchise?
Caregiver cost is the number the franchisor benchmarks you on. Record wages and payroll taxes exactly as the brand defines them, with overtime on its own line. That is where the owners at 36% differ from the 59% ones. Sales includes amounts billed to insurance and government programs and is measured regardless of collection. So royalty is owed on claims that later get denied. The reporting tracks money owed separately for each payer. The tapering brand fund means your fee owed rate changes several times a year. Averan provides bookkeeping, controller, and fractional CFO support for franchise owners and has Certified QuickBooks ProAdvisors on the team.
- Item 19 of the Homewatch CareGivers FDD gives no profit after every cost. It publishes direct caregiver costs as a share of revenue for 94 franchisees running 201 territories, so what an owner keeps after all costs is not disclosed.
Questions worth putting to Homewatch CareGivers
The filing answers what it answers. These are the gaps an owner or a buyer should close directly.
- How would wages and rent at a new Homewatch CareGivers location compare with the figures in the filing? Item 19 of the Homewatch CareGivers FDD publishes direct caregiver costs as a share of revenue for 94 franchisees running 201 territories.
- Which factors does Homewatch CareGivers 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 Homewatch CareGivers 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 Homewatch CareGivers Franchising SPE LLC's 2026 FDD, issued 30 April 2026 and covering the 2025 fiscal year. The document is unaudited by us. We are unaffiliated with the brand. The figures describe past performance at other franchised businesses. Calculations of our own are labeled where they appear. This page is an educational summary and is not legal or tax advice. HOMEWATCH CAREGIVERS® 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: Homewatch CareGivers Franchising SPE LLC, 2026 Franchise Disclosure Document, issued 30 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
Homewatch CareGivers 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.
- Do I need a bookkeeper, a controller, or a CFO?It explains what each role owns and when the next hire pays for itself.
- Revenue was the highest it has been. Why did profit not move?It traces where the extra revenue went, line by line.