A reasonable base scenario is about $289,000 per franchised business and Protected Territory. This is a Mode C — FDD-anchored scenario estimate, not an official Item 19 owner-earnings figure. The 2026 Franchise Disclosure Document reports 2025 Annual Revenues for 550 franchisees but does not report profit, owner compensation, or take-home pay.
- Legal franchisor
- Living Assistance Services, Inc., doing business as Visiting Angels.
- Current disclosure
- 2026 Visiting Angels Franchise Disclosure Document, issued April 20, 2026. Item 19, pages 64–65; Item 20, pages 65–76.
- Operating format
- U.S. non-medical home care business operated from a commercial office or shared executive office within a population-based Protected Territory.
- Item 19 status
- Official 2025 Annual Revenues distribution only; no official operating profit, net income, owner compensation, or cash-flow measure.
- Supplemental input
- The official U.S. Visiting Angels franchise site states a 15%–18% “Average Net Profit” and labels its displayed figures as 2024 data, but it does not publish the metric definition, sample, or owner-compensation treatment.
- Date checked
- July 21, 2026.
DERIVED from the 2025 Item 19 distribution. This is a band containing the median franchisee, not an exact median.
OFFICIAL SUPPLEMENTAL claim on the franchise website; definition and reporting population are not stated.
OFFICIAL FDD population, including partial-year openings and closures and excluding franchisees not yet trained by October 2025.
DERIVED across the three revenue scenarios, assuming even monthly revenue and applying Item 6 percentage tiers.
BENCHMARK: May 2023 BLS annual mean wage for General and Operations Managers in NAICS 624120.
What does the 2026 Visiting Angels FDD actually report?
Officially, Item 19 reports Annual Revenues—not owner earnings—for 550 franchisees that operated during calendar year 2025. The population includes franchisees that opened or closed during the year even when they operated for only part of 2025. It excludes franchisees that had not attended training by October 2025.
The FDD defines Annual Revenues as paid or collected receipts from normal non-medical home care services, without deductions. Caregiver wages, office payroll, royalty, advertising, insurance, rent, technology, interest, depreciation, and owner compensation are therefore not deducted from the Item 19 number. Revenue cannot be read as salary, distributions, or business profit.
| Grouped 2025 Annual Revenues | Franchisees | Share of 550 |
|---|---|---|
| Under $1 million | 122 | 22.2% |
| $1 million–$2 million | 189 | 34.4% |
| $2 million–$3 million | 103 | 18.7% |
| $3 million–$5 million | 91 | 16.5% |
| $5 million–$10 million | 36 | 6.5% |
| Over $10 million | 9 | 1.6% |
Source: 2026 Visiting Angels FDD, Item 19, pages 64–65. The six rows above aggregate the FDD’s 13 disclosed revenue bands; counts reconcile to 550.
Item 20 provides useful population context. The system ended 2025 with 541 franchised outlets and no company-owned outlets. During 2025, Item 20 records 11 openings, six terminations, one non-renewal, two other cessations, and 18 transfers. Because there are no company-operated outlets, there is no same-brand corporate operating-margin proxy to use.
How was the annual earnings range calculated?
The $188,000–$495,000 range is estimated by applying a 15%–18% same-brand net-profit range to revenue anchors derived from the FDD distribution. It applies to one franchised business and Protected Territory, uses 2025 revenue evidence, and should be read as pre-tax owner-operator benefit rather than guaranteed accounting profit.
- Revenue anchors: the 25th-percentile observation falls in the $1 million–$1.5 million FDD band, the median falls in the $1.5 million–$2 million band, and the 75th-percentile observation falls in the $2.5 million–$3 million band. The model uses each band midpoint: $1.25 million, $1.75 million, and $2.75 million.
- Margin anchors: 15%, 16.5%, and 18%, based on the official franchise site’s displayed 15%–18% “Average Net Profit” range. The midpoint is an analytical assumption; the website does not identify a midpoint result.
- Fee treatment: royalty and Cooperative Advertising Fees are assumed to be included in the website’s net-profit measure and are not subtracted a second time.
- Excluded from the published range: personal income taxes and financing principal. The official website does not define whether interest, depreciation, capital expenditures, owner compensation, or hired-manager compensation are included.
| Scenario | Revenue anchor | Margin assumption | Estimated owner-operator benefit |
|---|---|---|---|
| Conservative | $1,250,000 | 15.0% | $187,500 |
| Base | $1,750,000 | 16.5% | $288,750 |
| Upside | $2,750,000 | 18.0% | $495,000 |
Revenue-band midpoints from the 2025 FDD distribution multiplied by the 15%–18% same-brand margin range.
Interpretation: revenue scale is the largest numerical driver, while the margin assumption changes the result further. These scenarios are analytical cases, not probabilities or forecasts.
Sources: 2026 Visiting Angels FDD, Item 19, pages 64–65; official Visiting Angels franchise financial figures. Calculations use full-precision inputs and are shown to the nearest dollar.
How does owner involvement change the result?
For the first four years, the FDD makes this an owner-operated model rather than a passive investment. Item 15 requires at least one owner or stockholder with at least 25% ownership to be available to manage the business full time; two qualifying owners may combine schedules to equal one full-time manager.
After the first four years, an owner who is not present at least three days per week may delegate day-to-day operations to a trained manager. That means the main scenario range is best labeled estimated owner-operator benefit: it may combine residual business profit with compensation for substantial management work performed by the owner.
For a manager-run sensitivity, the closest official wage benchmark is the BLS May 2023 NAICS 624120 wage table. It reports a $100,050 annual mean wage for General and Operations Managers. NAICS 624120 includes non-medical home care and homemaker services under the U.S. Census Bureau industry definition.
Illustrative subtraction of a $100,050 manager wage after year four; benefits and payroll burden are not added.
Interpretation: replacing owner labor with a paid manager can reduce available owner cash by roughly the manager’s compensation package. The chart subtracts wages only, so a real employer cost could be higher after payroll taxes and benefits.
Sources: 2026 Visiting Angels FDD, Item 15, pages 58–59; U.S. Bureau of Labor Statistics, May 2023 industry-specific OEWS. This sensitivity applies only after the FDD’s initial four-year owner-management period.
How much do royalty and advertising fees affect the model?
Across the three revenue scenarios, the derived combined Gross Service Fee and Cooperative Advertising Fee ranges from 5.25% to 6.00% of Gross Revenues. This is an FDD-derived fee calculation using average monthly revenue; it is shown for interpretation and is not subtracted again from the margin-based earnings estimate.
| Scenario | Average monthly revenue | Royalty + co-op rate | Annual fee context |
|---|---|---|---|
| Conservative | $104,167 | 6.00% | $75,000 |
| Base | $145,833 | 5.75% | $100,625 |
| Upside | $229,167 | 5.25% | $144,375 |
Item 6 sets the Gross Service Fee at 3.5% of monthly Gross Revenues, dropping to 3.25% once monthly revenue reaches $125,000 and to 3.0% once it reaches $225,000. Cooperative Advertising begins at 2.5%, drops to 2.25% at $150,000 per month, and to 2.0% at $250,000 per month, subject to stated minimum payments.
The calculation assumes revenue is earned evenly through the year. Actual monthly fee percentages can differ when revenue fluctuates around a threshold. The FDD also lists minimum monthly payments, a currently uncharged Technology Fee, optional employee email fees of $60–$168 per user per year, an $899 national-conference attendance fee, insurance obligations, and possible regional advertising contributions. These items require confirmation in an outlet-specific operating budget.
Source: 2026 Visiting Angels FDD, Item 6, pages 13–24. The official Visiting Angels investment page also describes the sliding royalty structure, but the FDD controls the detailed thresholds and minimums.
What could move actual owner earnings outside this range?
The largest unresolved uncertainty is the definition and population behind the official site’s 15%–18% “Average Net Profit” claim. The FDD revenue distribution is official and well described for 2025, but the margin input is supplemental 2024 information without a published numerator, denominator, sample size, or owner-compensation policy.
- Caregiver labor
- Gross Revenues include amounts used to pay caregivers. Local wage rates, overtime, payroll taxes, workers’ compensation, scheduling efficiency, and unfilled shifts can materially change the spread retained by the business.
- Owner compensation
- The source does not say whether “net profit” is before or after owner salary, draws, distributions, or a replacement-manager cost.
- Territory and geography
- Item 19 does not separate results by Protected Territory population, state licensing regime, client rate, caregiver wage market, or office cost.
- Outlet age
- The FDD includes partial-year openings and closures. It also notes that many home care agencies require two to four years to mature, so a new franchise should not be modeled as immediately mature.
- Debt and capital spending
- Financing principal is excluded from estimated pre-tax owner earnings. Interest, depreciation, and recurring capital expenditures cannot be resolved from the published margin label.
- Multi-unit ownership
- The Item 19 chart is a per-franchisee revenue distribution, not a disclosed per-owner portfolio result. The one-territory estimate should not be multiplied without modeling shared staff, managers, development timing, and ramp-up.
What should a buyer verify before relying on the estimate?
The strongest defensible planning range is approximately $188,000–$495,000 in estimated annual owner-operator benefit, with a $289,000 base scenario. It is scenario-based, not an official FDD earnings result. Revenue scale and caregiver labor economics are the principal drivers; the largest unresolved issue is whether the cited net-profit range includes owner or manager compensation.
- Request Item 19 written substantiation and the exact 2025 revenue records supporting the Revenue vs. Longevity Chart.
- Request written substantiation for the official site’s 15%–18% Average Net Profit and $2.3 million Median Gross Revenue figures, including sample size, eligibility rules, reporting period, and reconciliation to the current FDD.
- Ask whether “net profit” is before or after owner salary, owner distributions, manager payroll, interest, depreciation, income taxes, and capital expenditures.
- Review actual profit-and-loss statements from mature franchisees in comparable territory sizes, wage markets, licensing states, and revenue bands.
- Interview current and former franchisees listed in Item 20, including operators in years one through four and owners who later installed a manager.
- Model debt service separately and compare monthly cash requirements with the FDD’s minimum royalty, advertising, payroll, insurance, and working-capital obligations.
The FTC’s franchise buyer guidance explains that gross sales do not establish profit and recommends asking for written substantiation and speaking with current and former franchisees. For Visiting Angels, diligence should focus on the precise margin definition, owner-labor treatment, monthly caregiver economics, and the age and territory profile of the comparison cohort.
All earnings figures are pre-tax analytical estimates. Personal income taxes depend on entity structure, jurisdiction, deductions, and owner circumstances and are not calculated here.