Description

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 Impact

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

• Support for Aging Populations: The franchise will double its client base, directly benefiting 20-25 seniors with personalized home care services.
• Job Creation: The project will create 18-20 caregiving jobs as the client base grows, supporting local employment in Midtown East Toronto.
• Increased Revenue for ACBN: Profits generated from the franchise will provide ACBN with a steady income stream, enhancing financial stability and reducing reliance on grants for their core programming.

Indirect Impact

• Building a Network of Care: The franchise will foster relationships with local healthcare providers and community organizations, creating a supportive network for senior care.
• Encouraging Community Resilience: The project will enhance community resilience by supporting both the aging population and their families fostering a culture of support.
• Economic Empowerment for Black Entrepreneurs: The project will demonstrate franchising as a viable business model, empowering Black entrepreneurs to achieve financial independence.

Impact Indicators

20

people impacted

18

jobs created

Contribution to the Sustainable
Development Goals

Sustainable Development Goals

Financial viability

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.

The Borrower

About Afro-Caribbean Business Network Foundation Canada

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

The team

Ryan O’Neil Knight

Executive Director

Business Model

Updates