The homecare industry is rapidly growing due to favorable factors such as the aging population, the need for personal medical care costs, and many more. Owing to the latest trends and industrial scenario, the industry is predicted to flourish in the upcoming years.
Catering to the growing demands of the homecare industry, HomeJoy has been providing in-home care needs and services in the comfort of individual’s homes. Aiding caring and dependable services, the company harbors friendly and professional relationships with the clients while taking care of their needs with supportive care services.
Justin Lorencz (CEO at HomeJoy) has been spearheading the company with his excellent leadership skills. Justin has been incredibly involved in the day-to-day operations and is leading HomeJoy into a positive, healthy future.
Mirror Review’s team recently had the opportunity to interview Justin, where he is talking about the company’s growth, factors distinguishing it from the competitors, as well as the challenges and opportunities in the homecare franchise industry. Here are some of the snippets from the intriguing conversation.
When was HomeJoy established? What are the primary services provided by your company?
HomeJoy was established in 2005 by Daniel Story. We can offer aid in the event you are unable to stay at home due to illness or injury. Our Home Care Aides, HCAs, work closely with clients to provide the In-Home Care you need. Our services are available at your convenience. We will serve and provide you with necessary services such as personal care and homemaking while you stay in the comfort of your home.
How did you start your journey with HomeJoy? Can you brief us about your roles and responsibilities in the company?
Ten years ago, I started as an intern with HomeJoy doing part-time reconciling functions while pursuing graduation at Ferris State University. I was offered the post of scheduler and worked for a couple of years before being promoted to a managerial role. Simultaneously, I also pursued my Masters in Business Administration and Finance and was offered the role of CFO. After we decided to franchise in 2019, I was offered ownership of the franchisor company as we began to create our new system to help other entrepreneurs start their own HomeJoy franchise. As the CEO, I am actively involved in the day-to-day operations helping push HomeJoy into a positive healthy future.
What is the niche offered by your company that makes it stand out from its competitors?
HomeJoy’s Core Values and RN-based model continue to transcend us and make us stand out from our competitors. Many other in-home care agencies are owned and operated by people with business backgrounds or social workers who do not have the skills or knowledge unlike our founder, Daniel Story. As a registered nurse for 20 years, Daniel brings great value to our clients everyday, from training our HCAs to communicating with clients and implementing a suitable care plan, goals, and desires so they may remain at home.
Considering the aftermath of the COVID-19 pandemic, what were the impacts experienced by your company?
COVID-19 presented many challenges. The hardest part was the constant change we experienced and the uncertain expectations as businesses and business owners. The State of Michigan released new guidelines every other day that affected us significantly. We created and implemented multiple policies and procedures for our franchisees to protect both our clients and employees during the crisis to push us forward as a brand that values the health and safety of those around us. Another challenging aspect was remote working. About 95% of our aides work inside the house premises of aging residents, providing one-on-one care.
What are the major transformations that you are anticipating in the homecare industry with respect to the current scenario?
The private in-home care industry has witnessed a lot of growth because of COVID-19. Families want their loved ones to stay at home instead of moving into facilities. It is difficult and stressful to shift from places where you have created memories and lived your entire life. With a disease as infectious as COVID-19, it becomes further difficult to leave home. This trend will persist but our industry offers solutions for the elderly to stay and age in their homes.
The issue of minimum wage also causes major challenges in the industry as most of our clients pay privately for our services. We provide services on an industry average of $26 an hour, which is tentative depending on the amount of care one needs whilst at home. I believe our industry runs slimmer margins for better affordability. But with an increase in wages and hourly rates, our services will be affordable only for people with stable financial backgrounds.
How do you envision the company’s growth in the upcoming years?
While providing a unique opportunity to help others stay at homes with companionship, technology binds families closer to their loved ones without being physically present. It is important that our industry learns and grows with this technology. Finding a healthy balance between what technology can do for families and what is economically efficient for our franchisees and clients is a big focus for us and our industry.
HomeJoy has always focused on its primary core value—Caring. The average distance between family members is 280 miles and growing and the support base will shrink from 7:1 to 3:1 by 2050. As caregivers, it is our job to attend to families amidst the gap while ensuring the safety and comfort of their loved ones.
I believe our continued growth and expansion comes directly from our owners’ satisfaction. We are constantly looking for ways to improve our system and provide more opportunities to our franchisees for better quality services and growth of current earnings. HomeJoy’s tagline is Dedicated. Passionate. Homecare. If we stay true to these words, our future is limitless!
Why Become a HomeJoy’s Franchise?
- 18 years of experience and healthy recognition in the market
- Operating an individual in-home care business
- Continuous training and education—human resources, marketing, finance, and more
- Dedicated Support Team around the clock
- Intensive Training with weekly communication and leadership coaching
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