How does Visiting Angels make money?
Visiting Angels draws 53.0% of its revenue from royalties. That is below typical among franchisors reporting their own books.
Compared with 12 franchisors reporting their own books
Which franchisors lean on royalties more than Visiting Angels? →
Where the revenue in Visiting Angels’ filing came from, year by year
Each column is one year. 2025: $58.05M in total.
›View data & method
| Line | 2023 | 2024 | 2025 |
|---|---|---|---|
| Royalties | $25M | $28.7M | $30.7M |
| New-franchise fees | $2.4M | $3.3M | $3.2M |
| Brand fund contributions | $16.6M | $20.3M | $23.6M |
| Conference and training | $400.2K | $467.2K | $524.2K |
| Total revenue | $44.47M | $52.81M | $58.05M |
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.
The figures on this page are Visiting Angels’ own audited statements.
- The entity
- Living Assistance Services, Inc.
- What is inside it
- the franchisor's own financial statements
- The opinion
- Clean — no reservations
- Its year ends
- December 31
5.5% of what Visiting Angels earns comes from selling new franchises.
Compared with 12 franchisors reporting their own books.
Visiting Angels’ royalty income grew faster than Visiting Angels’ 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 Visiting Angels keeps
Systems in this field are taxed in different ways — some pay tax as a company, some pass it to their owners — so the figure after tax is not comparable across them, and is not compared here.
What it owns and what it owes
- Everything it owns
- $7.77M
- Total assets at the year end.
- What is left over
- $4.65M
- What it owns, less everything it owes.
- Owed against owned
- 40.1%
- The share of what it owns that is already committed.
- Cover for the next twelve months
- 2.1×
- What is due within a year, against what can be turned into cash within a year.
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 | $44.47M | $52.81M | $58.05M |
| Royalties | $25.04M | $28.68M | $30.75M |
| New-franchise fees | $2.41M | $3.33M | $3.19M |
| Brand fund contributions | $16.62M | $20.33M | $23.58M |
| Operating margin | 0.5% | 1.8% | 2.4% |
| Net income | $244K | $992K | $1.4M |
| Cash from operations | $1.17M | $611K | $-1.14M |
| Total assets | $5.63M | $8.27M | $7.77M |
| Equity | $2.26M | $3.25M | $4.65M |
What the statements say they cover
Figures are Living Assistance Services, Inc..
What this filing does not disclose
- The name of the auditor: the filing does not state it in a form we could read.
Every figure on this page comes from the one audited statement package Visiting Angels’ 2026 filing presents as current. 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. Source ↗
Once a month: what changed in the filings, which systems moved, and the numbers worth quoting.