What are the Caring Transitions franchisee's obligations regarding insurance (Item 9) and how does that relate to the ongoing operation of the business?
Caring_Transitions Franchise · 2025 FDDAnswer from 2025 FDD Document
erms. Insurance costs will vary depending upon the location and size of your office, the number of employees and other factors, and may change from time to time due to changes in insurance rates. You must also maintain workers' compensation coverage and any other insurance that may be required by law in your territory.
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- The estimates listed in the above chart relate only to costs associated with the franchised business, not personal, "living," or other expenses you may have.
What This Means (2025 FDD)
According to Caring Transitions' 2025 Franchise Disclosure Document, franchisees must maintain certain insurance coverages to operate their business. The specific costs for insurance will vary based on factors such as the location and size of the office, and the number of employees. These costs are also subject to change over time due to fluctuations in insurance rates.
Specifically, Caring Transitions franchisees must maintain workers' compensation coverage, as well as any other insurance policies mandated by law in their specific territory. The premium for this insurance is typically due before the coverage becomes effective, although some insurance companies may offer options for monthly or quarterly payments.
Prospective franchisees should carefully consider these insurance requirements and obtain independent estimates from third-party vendors and their accountant to understand the costs associated with establishing and maintaining a Caring Transitions franchise. It is important to factor in these ongoing operational costs when evaluating the financial viability of the franchise.