The services offered by NEMT providers are indeed very crucial as many senior citizens depend on them to meet up with medical appointments. Since a good number of these men and women can’t drive themselves, they rely on NEMT providers to make available convenient rides to take them to and from hospitals, doctor’s appointments, nursing facilities, rehabs, pharmacies, etc.
According to reports, there were fewer than 50 million elderly Americans in 2015, however, experts believe there will be over 70 million seniors by 2030. This simply entails an increase in demand for transportation options among senior citizens —therefore the perfect time to enter the NEMT field is right now.
The steady demand in the industry offers a viable opportunity for anyone who intends to be a part of the industry through a franchise opportunity. Have it in mind that investing in a NEMT franchise offers opportunities to join a rising sector while making a difference in your community.
Top NEMT Franchise Opportunities
Here are top NEMT franchises for willing entrepreneurs to consider;
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Caliber Patient Care
This is a renowned non-emergency patient transportation company that aims to offer safe and reliable wheelchair transport. Note that by minimizing reliance on insurance and transportation brokers’ discounted trips, Caliber makes available a high-dollar, high-revenue model with significant growth.
Have it in mind that the Caliber franchise model is well structured for success and gives room for entrepreneurs to leverage a proven system. Training, support, branding, technology, and business development programs ensure that franchisees invest in a market with unlimited growth potential.
With Caliber, you get unadulterated support before you even get your first patient. They boast of a call center and corporate team that will work 24/7 to support franchisees. Finally, Caliber administers AmericanHeart Association® CPR, First Aid, and AED training and certification.
Financial Requirements
- Initial Franchise Fee: $15,000 – $200,000
- Initial Investment: $124,915 – $397,340
- Net Worth Requirement: $1,000,000
- Cash Requirement: $100,000
- Veteran Incentives: $3,000 off franchise fee
- Royalty Fee: 6%
- Ad Royalty Fee: 2%
- Term of Agreement: 10 years
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Express Medical Transporters
Established in 1995 by Bernard A. Squitieri, Express Medical Transporters, Inc. remains one of the biggest for-profit non-emergency transportation companies in Missouri. By seeing to thousands of trips per year with more than 150 vehicles on the road, Express Medical Transporters remains one of the very best in terms of price, quality, and efficiency.
Since Express Medical Transporters, Inc. owns all its vehicles, equipment, and maintenance facility, they can eliminate the middle-man, therefore reducing costs and controlling other transportation variables. Have it in mind that these circumstances make their transportation services less expensive than using a broker or even a taxicab while offering a higher level of service.
Financial Requirements
- Total Investment: $169,900 – $252,000
- Franchise Fee: $45,000
- Initial Term: 7 Years
- Renewal Term: 7 Years
- Royalty: 5.0%
- Ad Fees: 2.0%
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Wheelchair Getaways
This company was established in 1988 in Pennsylvania by J. Edward Van Artsdalen who, with his father and grandfather, boasts of experience in the transportation industry. Their sole aim was to make accessible van rental services available to as many persons as possible and in 1989 they began a national franchise.
Right from the very beginning, Wheelchair Getaways has always focused on quality service in transportation. While ownership has changed over the years, the company has steadily responded with an undivided commitment to the needs of persons in wheelchairs and scooters.
Wheelchair Getaways is a renowned leader in accessible van rental and will lead the industry for many years to come. Currently, they are owned by JDR Franchises, LLC. The principals Jennifer and Dale Richardson boast of top-class credentials and are both highly qualified to head a national franchise corporation.
Financial Requirements
- Total Investments: $40,000 – $112,000
- Franchise fee: $17,500
- Royalty fee: $550/van/yr.
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Caring Man In A Van
The primary aim of this company is to provide quick, courteous, dependable, and affordable non-emergency transportation service. They are fully committed to customers’ health and employ adequate care and compassion when transporting loved ones.
The services they offer include ambulatory, wheelchair, or stretcher utilizing late-model vehicles and trained staff. They also make available safe and clean air-conditioned transportation for all local and long-distance services at a reasonable rate
Currently, Caring Man in a Van is seeking to grow with individuals who are interested in establishing a franchise in exclusive areas throughout Georgia and neighboring States. If you are also searching for a lucrative platform to grow with Caring Man in a Van, then you should contact them for more details.
Financial Requirements
- Initial Investment: $100,000
- Total Investment: $100,000 – $500,000
How to Open a NEMT Franchise
Truth be told, now is an exciting time to buy a NEMT franchise, but you must ensure you are making a good business decision. Nonetheless, here are simple steps to guide you through.
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Perform your Due Diligence
You have to first find the ideal and suitable NEMT Franchise for you. Note that because you like the company doesn’t mean acquiring the Franchise will suit you well. A good number of companies will advise you to acquire as much information as you can about current and likely future demand for its products.
Take your time to find the company’s data on trips and services, outlets, growth, marketing plans. Also, consider speaking with existing franchisees and ask certain necessary business questions.
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Read and Understand the Documents
After you must have noted the ideal company for you and made contact, it is recommended that you read and understand all the documents they provide you, most especially the franchise agreement. Make sure you understand the operational and financial obligations that will bind you to the Franchise.
Take your time to analyze the contractual rights of the franchisor, like the rights to determine sources of supply and supply prices, control over marketing, advertising, and capacity to direct the way business services are being rendered. Also, make sure you understand the grounds on which either party may terminate the contract. Always remember that the franchise agreement is a binding legal contract once you’ve signed it.
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Understand Your Obligations
Note that the franchise agreement will dictate what aspects of the business are your responsibilities and what categories are for the parent company. While all franchise arrangements are different, endeavor to understand them thoroughly.
You need to be clear on what your obligations are and if you have the necessary skills to carry out those obligations. While you may be well versed in customer service, you may not really understand basic financial management or accounting.
You can check with your franchisor and see if they can handle all the financial and accounting requirements and provide the system for you to use. If not, you will have to factor in the costs of outsourcing those functions if you are to go on with the purchase.
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Understand the Numbers and Assess the Risks
While purchasing a franchise, have it in mind that you are not getting a job, but instead you are purchasing a business opportunity. Owing to that, it falls on you to make the franchise successful within the terms of the agreement. You are expected to understand the commercial elements of the franchise agreement and what it would take to achieve success in your area.
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Have an Exit Plan
No matter how successful you envisage your business, it is still necessary to have an exit strategy. If you plan to sell the franchise once you have realized success, ensure you understand your contractual rights to do so and any limitations or requirements set by the company.
Have it in mind that the longer the term of the franchise remaining, the more valuable the business is likely to be. Also, seek professional advice and take your time to understand the opportunity.
Conclusion
Starting a NEMT business may seem like a very expensive endeavor in the beginning, however, your return on investment will be worth it. While there may be times of the year that are quite busier than others, it’s uncommon for NEMT franchises to suffer from a “dead period” within the year.
Also, owing to the technological advances of recent years, a good number of NEMT franchises have been able to develop more impressive software options that can greatly save start-up costs due to reduced real estate requirements.