How does Homewatch CareGivers make money?
78.4% of what AB Assetco LLC and its Subsidiaries took in during 2025 came from royalties; 15.6% came from everything else it earns.
Where the revenue in Homewatch CareGivers’ filing came from, year by year
Each column is one year. 2025: $227.82M in total.
›View data & method
| Line | 2023 | 2024 | 2025 |
|---|---|---|---|
| Royalties | $172.3M | $179M | $178.6M |
| New-franchise fees | $12.9M | $11.6M | $13.6M |
| Total revenue | $219.07M | $226.44M | $227.82M |
Read from the one audited statement package the filing presents as current, full years only. A line the statements do not break out is not drawn; what is left over after the named lines is shown as other income rather than dropped, because a mix that does not sum to the whole misstates the whole. These statements are filed by AB Assetco LLC and its Subsidiaries.
The figures on this page are not Homewatch CareGivers’ own — they are the audited statements of AB Assetco LLC and its Subsidiaries, the group it belongs to.
- The entity
- AB Assetco LLC and its Subsidiaries
- What is inside it
- the franchisor's PARENT, consolidated with the parent's subsidiaries
- Audited by
- PricewaterhouseCoopers LLP
- The opinion
- Clean — no reservations
- Its year ends
- December 31
- Also inside it
- Business other than franchising these agencies
These shares are worked out only from a franchisor's own statements, and AB Assetco LLC and its Subsidiaries files these.
These shares are worked out only from a franchisor's own statements, and AB Assetco LLC and its Subsidiaries files these.
The royalty income AB Assetco LLC and its Subsidiaries reports grew more slowly than Homewatch CareGivers’ number of locations.
The two are set side by side and not divided into one another: royalty income is the franchisor’s and the location count is the system’s, and the difference between the two rates is the most a filing supports saying about them together.
What it owns and what it owes
- Everything it owns
- $594.82M
- Total assets at the year end.
- What is left over
- $535.93M
- What it owns, less everything it owes.
How to read a franchisor's accounts
- These are the franchisor's books, not the owners'. Item 21 shows what the company that sells the franchise earns. What an owner's business brings in is a different question, on a different page, and the two are never mixed.
- Sometimes the books belong to a parent. Seven of these twenty-three systems file the audited statements of the group that owns them. Where that is the case we say so, name the entity, and show the figures on their own rather than against franchisors reporting their own accounts.
- Royalties and new-franchise fees are two different businesses. A franchisor living on royalties earns when its owners do. One living on the fees from selling franchises has to keep selling them.
›The numbers behind this page
| Figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total revenue | $219.07M | $226.44M | $227.82M |
| Royalties | $172.29M | $178.98M | $178.58M |
| New-franchise fees | $12.95M | $11.57M | $13.62M |
| Net income | $8.18M | $-14.36M | $19.89M |
| Cash from operations | $82.92M | $75.55M | $89.44M |
| Total assets | — | $666.04M | $594.82M |
| Equity | — | $611.63M | $535.93M |
What the statements say they cover
Figures are AB Assetco LLC and its Subsidiaries; PARENT, consolidated with the parent's subsidiaries; consolidating Cleaning Authority Franchising SPE LLC, Homewatch CareGivers Franchising SPE LLC, Mosquito Squad Franchising SPE LLC, ASP Franchising SPE LLC, Benjamin Franklin Franchising SPE LLC, Mister Sparky Franchising SPE LLC; and include Multiple franchise brands plus related non-franchisor businesses: a buying group (BuyMax), a software business (Successware, sold in 2025), and a payments business (Authority Brands Payments).
What this filing does not disclose
- How much of its revenue is royalties: its statements are filed by AB Assetco LLC and its Subsidiaries, where the figure is not broken out.
- How much of its revenue is new-franchise fees: its statements are filed by AB Assetco LLC and its Subsidiaries, where the figure is not broken out.
- Operating margin: its statements are filed by AB Assetco LLC and its Subsidiaries, where the figure is not broken out.
Every figure on this page comes from the one audited statement package Homewatch CareGivers’ 2026 filing presents as current, which is filed by AB Assetco LLC and its Subsidiaries. Full years only: stub periods, predecessor presentations and the disaggregation tables that repeat a year are excluded. Margins are compared before tax, because these entities are taxed in different ways.
Once a month: what changed in the filings, which systems moved, and the numbers worth quoting.