Why should I franchise instead of going into business for myself?
A franchise awards you access to a system that’s been developed and proven for years, rather than reinventing the wheel yourself (not to mention the cost that those square wheels incurred along the way). Hi-5 ABA’s system includes manuals needed for audits with insurance providers, templates for daily use in clinics and in the home, training materials and videos, but most importantly: ongoing support. Less prep work and foundation-laying on your part means faster return on investment. Guidance from our Business Development, Marketing, Finance, and Clinical teams means fewer mistakes, fewer bad long-term investments, and answers to questions that could take a long time to find otherwise. Beyond that, you benefit from Hi-5 ABA’s negotiated rates with vendors, our national marketing, and peer support with other franchisees/BCBAs. Lastly, if you decide to sell your franchise, buyers tend to opt for the familiarity and safety of recognized brands over private businesses.
Who owns the franchise?
The franchise is for an ABA practice that is 100% owned and independently operated by the franchisee. Hi-5 ABA and its processing affiliates provide support services that help a franchise with administrative tasks coupled with extensive strategic consulting.
I am a BCBA. How much experience do I need to be considered for a franchise opportunity?
Field experience in home-based ABA therapy better equips a BCBA to own and operate a clinical practice. However, because Hi-5 ABA provides training and highly-skilled clinical consultation, even a newly-licensed clinician may qualify to begin a new franchise.
How much money can I make owning my own Hi-5 ABA franchise?
Many factors contribute to the revenue-potential of any business. Applied Behavior Analysis is a rapidly growing field where the demand for services far outstrips the supply of practitioners, virtually everywhere, and that imbalance is unlikely to be rectified anytime soon, given the 1:54 rate of an autism diagnosis. Operating as a franchisee offers many advantages over operating a practice without the support and expertise of a Hi-5 ABA administrative team. Hi-5 ABA does not make any representations about a franchisee’s future financial performance. Hi-5 ABA does, however, in the company’s Franchise Disclosure Document (FDD), provide certain past financial data for the existing offices’ revenue and performance in prior years in Item 19 “Financial Performance Representation.”
What sort of support services does Hi-5 ABA provide to its franchisees?
Hi-5 ABA and its affiliates provide support services that assist the franchisee with business planning, recruiting analysts and technicians, bookkeeping, accounting, payroll, monthly reports, credentialing, billing, and collections. Hi-5 ABA also provides access to clinical consultation and other administrative services.
How much does it cost to start a Hi-5 ABA franchise?
The initial franchise fee is $12,000 to $15,000 with some exception (though that is not likely to be the only initial investment). Please reach out to Timothy Maddox, Director of Franchising, at email@example.com for a full breakdown of our franchise fee options and potential initial startup costs. Additional details about the other costs and estimated initial investment to start a Hi-5 ABA franchise are available in the FDD.
Can I read the Franchise Disclosure Document?
The FDD for Hi-5 ABA is available in certain states, depending upon individual state franchise law. For more information, please contact Timothy Maddox, Director of Franchising, at firstname.lastname@example.org.
What do I need to do to get started?
Step 1) Meet with a Hi-5 ABA representative to discuss your vision.
Step 2) Receive and read the Franchise Disclosure Document and complete Hi-5 ABA Application.
Step 3) Should you and the franchisor decide that this is the best move forward, you would pay a fee and sign the Franchise Agreement.
Step 4) Begin training.
How much does Hi-5 ABA charge for its administrative support services?
Hi-5 ABA has designed its program to provide administrative support services at modest cost to the franchisee. Hi-5 ABA employs industry-leading systems to minimize franchisee’s time and expenses related to billing, collections, credentialing, bookkeeping, payroll, etc. The value proposition from Hi-5 ABA to the franchisee is intended to not only free up the franchisee to focus on clinical concerns, but to provide administrative services designed to help control cost and provide high quality services. For more information please contact Timothy Maddox, Director of Franchising, at email@example.com.
Does Hi-5 ABA or its affiliates provide advances against receivables so that a franchisee can cover payroll costs while waiting for insurers to pay claims?
Yes. It is the current policy (early 2019) of our affiliate, Hi-5 Processing, Inc., to provide each franchisee up to $50,000 to cover payroll and other necessary business expenses, in the context of a working relationship that meets our requirements. The amount of working capital each office has available depends upon how much the franchisee has in outstanding current receivables and certain other limitations, the details of which are more specifically described in Item 10 of our FDD.
What if I already have an ABA business? Can Hi-5 ABA help me?
Yes, an existing practice can become a Hi-5 ABA franchise, allowing the owner to access all available Hi-5 ABA support services while retaining 100% ownership of their ABA practice.
Our Ideal Candidate:
Applied Behavior Analysis (ABA) is one of the quintessential services that help children with autism and their families grow. We’re looking for entrepreneurs who understand the needs of the families and have the experience to administer the business so the clinician may focus on training staff and serving the children. The ideal candidate would have a Board Certified Behavior Analyst (BCBA) certification, professional experience in a related field or personal experience with ABA and management experience. Sound like you? Fill out the form today!