Open Projects
Just Like Family
Share
$8,230 invested by 29 lenders
$90,000
27 days left to close
instalment
monthly
term
4 years
a year
6.05%
rating
B
The Afro-Caribbean Business Network (ACBN) is acquiring a "Just Like Family" franchise to provide localized, community-driven home care services for the aging population in Toronto. This funding will enable them to complete the purchase of the franchise and support working capital for initial expenses, including marketing and salaries.
"Just Like Family" operates with the mission of delivering compassionate care and assistance to elderly individuals, enhancing their quality of life within their homes and communities. Each franchise is locally owned and operated, ensuring that those in need of support can speak directly with someone from their own community. The franchise offers a range of customized services, including personal care, companionship and outings, specialized care, post-hospitalization recovery, overnight and respite care, and disability support services.
Why is ACBN purchasing this franchise?
ACBN brings a wealth of experience in scaling businesses, and this franchise presents a new way to support the wellness of the community while creating a viable revenue stream. With the support of SETSI (Social Economy Through Social Inclusion) and Empowered 4x, ACBN is moving forward with the acquisition of the "Just Like Family" franchise. This collaboration will not only improve the lives of aging individuals but also generate consistent revenue to sustain ACBN’s ongoing programs and services. This will allow ACBN to provide more Black-owned businesses with access to resources, mentorship, and financial support needed to thrive.
ACBN has been a vital resource for over 6,000 Black entrepreneurs, offering training, resources, and microloans totaling $1,250,000 to empower Black business owners in building sustainable and successful enterprises.
This initiative also demonstrates how franchising can be a sustainable way to grow and diversify income, enabling ACBN to scale more consistently while continuing its mission of unifying and supporting African and Caribbean entrepreneurs.
The funding and support for ACBN's acquisition of the "Just Like Family" franchise will have a transformative impact on both the community and the organization. By providing direct care services to aging populations, the urgent needs of a rapidly increasing senior population are addressed while creating job opportunities in the local area. Additionally, it enables ACBN to generate sustainable revenue, reducing its reliance on grants and allowing the organization to continue offering essential support to Afro-Caribbean entrepreneurs through programs like the Accelerator, the Investment Readiness Program, and the Youth Village.
Direct Impact
Indirect Impact
people impacted
jobs created
ACBN requires $90,000 to cover the franchise fee for acquiring the local franchise of the national social enterprise Just Like Family. The franchise, which has been operating for several years, is expected to generate steady revenue through its home care services, providing a reliable income stream to support ACBN's ability to service the loan. ACBN plans to immediately optimize administrative costs—such as accounting, payroll, banking, and personnel expenses—by leveraging economies of scale through the integration of this new business. This approach will help ACBN reduce its reliance on cyclical grant funding, leading to greater financial stability. Profits from the franchise will support ongoing programs and fuel the organization’s growth. ACBN expects the business to generate $123,000 from its core operations before deducting interest, taxes, and other non-operational expenses by the end of fiscal year 2025.
In 2017, Jodi-Ann Campbell, Chris-Beth Cowie, Derrick Fagan, Darren Green, Ryan Knight, Ray McMillan, and Keisha Wallace had the idea to create a business network for the Black community that would bridge the economic gap for Black entrepreneurs. From that idea came the Afro-Caribbean Business Network. ACBN’s objective is to provide Black businesses with the resources they need to start, grow, and scale up. Our goal is to ensure that our businesses are prosperous—and part of the fabric of Canadian business for years to come. Our network encourages the pursuit of entrepreneurship and developing connections to help business owners stay engaged during their entrepreneurial journey and leave a lasting legacy
ACBN will generate revenue through the "Just Like Family" franchise by offering home care services to elderly individuals and other at-need populations. The primary revenue streams include service fees paid directly by clients or their families, charged based on the type and duration of care, and long-term care contracts that provide steady income over extended periods. Additionally, the franchise may receive payments from government programs and insurance companies that cover home care services, adding another layer of financial stability. By diversifying its income sources through direct payments, contracts, and third-party reimbursements, this business model will provide ACBN with a more consistent and autonomous revenue stream, reducing its reliance on cyclical grants and enhancing its ability to support its mission of empowering Black entrepreneurs.
Active since
2017
Fiscal country
CA
Operating In
Toronto
Industry
Business Support and Networking
Number of Goparity Loans
1
Women Shareholders
Yes
Website
https://acbncanada.com/2024-09-06
This campaign is open for investment
Goparity Canada is a sustainable finance platform and app that aims to democratize access to impact investing. By prioritizing accessibility, we make it possible for all kinds of investors to contribute to sustainable development projects in Canada. Goparity is one of the fastest growing platforms in Europe, and Goparity Canada is co-owned and operated by Canadian entrepreneurs. Goparity Canada humbly acknowledges the Indigenous Peoples who have stewarded the lands and waters of the places we call home. To realize a just and sustainable future we recognize the harmful legacy of colonization, both past and present, and go forward together in the spirit of reconciliation. Peel Region is part of the Treaty Lands and Territory of the Mississaugas of the Credit. In particular, we acknowledge the territory of the Anishinabek, Huron-Wendat, Haudenosaunee and Ojibway/Chippewa peoples; the land that is home to the Metis; and most recently, the territory of the Mississaugas of the Credit First Nation.
60 Admiral Blvd.
Mississauga, ON
Canada
© 2024 Goparity Canada
Goparity Canada Securities Inc. is a licenced Exempt Market Dealer (EMD) in British Columbia, Manitoba, Ontario, and Nova Scotia. Part or all of your original invested capital may be at risk and the return on your investment depends on the success of the corresponding small to medium-sized business invested in. Any historical returns, expected returns, or projections may not reflect actual future performance.