Part of what's wrong with caregiving agencies.
I read an interesting article this morning. It was in the Duluth (Minnesota) paper. Evidently there is a company looking for a franchisee to open one of their home health care offices there.
Lots of PR fluff and yada, yada, yada, but the following quote caught my eye. It was not from the company selling the franchise opportunity, but rather from a market research company analyst (IBISWorld) the reporter interviewed who researches home health agencies for financial reasons.
Here is the quote:
“Some franchise brands have a profit margin in the neighborhood of 13 percent, compared with 6.2 percent for the industry as a whole, he said. The franchises tend to pay less — an average annual wage of $15,617 compared with $23,317 for the industry as a whole for the mostly part-time workers.”
See something, which should tell us all why we so often tend to get bad caregivers though these agencies?
YEP — they are paying almost exactly a third less than the industry average, which I suppose includes those in healthcare companies, not just franchise operations. Not a third less than the top pay — a third less than the average!
I always thought their model must be a shoddy one — for the families that need them that is!
Peace and strength!
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