BURKBURNETT, Texas--(BUSINESS WIRE)--After a record-setting 2022, marked by the addition of 24 new owners and expansion into 42 new territories, HomeWell Franchising Inc., the parent company of HomeWell Care Services, was recognized for the third year in a row in Inc. Magazine’s prestigious Inc. 5000 rankings for the nation’s fastest-growing private companies. This year, however, HomeWell moved up the list by an impressive 24.9% after boasting 138% three-year growth in revenue from 2020 through 2022.
“Much has happened in home care since 2020—from the onset of the pandemic to the ongoing surge in demand that shows no signs of slowing down,” says Crystal Franz, CEO of HomeWell Franchising. “All the while, we have ramped up our efforts as a franchisor in virtually every way to allow our owners to match the growth we’re seeing in our industry, and the result is an ever-growing string of success stories. From the passionate entrepreneur entering the home care space with a desire to make a difference to the seasoned home care professional ready to take the leap to business ownership and, concurrently, our existing owners, who are driven to scale their agencies—we’ve met each aspiring and existing franchisee where they’re at and equipped them with the tools to succeed. This recognition from Inc. 5000—an honor we graciously celebrate again this year—is a direct testament to the benchmarks we have set for ourselves in supporting our franchisees.”
The Inc. 5000 provides a data-driven look at the most successful companies within the economy’s most dynamic segment—its independent, entrepreneurial businesses. The 2023 class represents companies that have advanced their brand while navigating inflationary pressure, rising costs of capital and seemingly intractable hiring challenges.
“Running a business has only gotten harder since the end of the pandemic,” says Inc. editor-in-chief Scott Omelianuk. “To make the Inc. 5000—with the fast growth that requires—is truly an accomplishment.”
With rankings based on three-year revenue growth, Inc. 5000 has included HomeWell Franchising among the nation’s elite private companies since 2020. From the franchise’s rebranding in 2019 to the further development of its Signature Programs, along with the launch of its Zero-Initial Franchise Fee option in 2022, HomeWell has innovated to adapt to the market to secure a consecutive spot in the Inc. 5000 each year—a trend that HomeWell’s leadership aims to maintain in the years to come.
As of August 15, 2023, the franchise is poised to achieve yet another remarkable growth year, having already signed 16 new franchise owners, two of whom are in Mississippi and Alabama—two new states for the franchise’s geographical footprint. HomeWell has also launched a new initiative catering to independent home care agency owners seeking to convert their businesses into a HomeWell franchise. Already, a successful conversion has been completed in Virginia, with more conversions in the pipeline. Meanwhile, the franchisor’s opening and operations teams have prepared new businesses to launch, with 15 openings so far and an estimated 12 to 14 more to open before the end of 2023, including four in the next month.
The growth seen at the operational level is paralleled by support on the backend with the introduction of Learning Lab, HomeWell’s new learning management system, complete with role-based learning, virtual workshops and numerous on-the-job tools, this past April. Additionally, a complete overhaul of HomeWell Care Services’ consumer website is on the horizon, set to launch in the coming months.
“As we predicted, 2023 is shaping up to be one of our best years yet, building upon the substantial strides we made in 2022 while introducing numerous initiatives, offerings and support mechanisms for our agencies and clients, laying the tracks for HomeWell’s bright future in home care,” Franz stated. “This highly esteemed award from Inc. 5000 affirms we’re headed in the right direction, and the best part is—we have more up our sleeve.”
About HomeWell Franchising:
HomeWell Care Services®, franchised by HomeWell Franchising Inc., provides personal care, companionship, and homemaker services for seniors and other homebound individuals, so they can remain safely in the comfort of wherever they call home. HomeWell is committed to helping people live life more fully and offers special programs for fall prevention, post-medical care, and life enrichment.
HomeWell Franchising Inc. is a premier franchisor with over 50 locations representing more than 100 territories across the United States. The company has a strong pipeline of new agencies set to open. HomeWell has been recognized as a Franchise Business Review Top 100 low investment franchise and an Inc. 5000 company. For more information on HomeWell or to explore franchise opportunities, visit HomeWell Care Services or HomeWell Care Services Franchising.