Is the chiropractic franchise model a good fit for you? In this month's Face Off, we asked three companies who offer franchise opportunities their thoughts on this very question. Hear what they believe makes the ideal franchise candidate and then listen to their respective sales pitches.
The Joint
"The right type of chiropractic doctor is typically one that wants his/her own practice, but understands the ever-changing marketplace and the need for oversight and guidance. Being a franchise owner means owning your own business with a group of experienced consultants and professionals as partners, all for a fraction of what you would pay if you had to hire each individually. In a time of insurance demise and financial uncertainty, it makes sense to invest in a proven model that works.
"Today, the franchise world is offering doctors the opportunity to be employed by or participate in owning their own clinic while having a large brain trust overseeing and assisting with procedures, compliance, proper protocol and marketing. Opportunities truly do exist today for doctors who are interested in becoming a part of a company and providing chiropractic care to the masses. For years we have preached the importance of regular chiropractic adjustments. Now we have a model that is focused on just that: providing the public with regular chiropractic adjustments affordably and conveniently."
AlignLife
"There are usually three types of doctors that leverage the power of a chiropractic franchise. First, a doctor who has been out in the field running his/her own practice for two to three years will greatly appreciate the system and the support after doing it as a sole practitioner, and will be ready to embrace a proven system.
"The second type of doctor is one who likes the team atmosphere and wants to be around a group of like-minded, on-purpose doctors who share in a similar mission and will benefit from group buying power and unified marketing platforms. The third type of doctor is one who wants to leverage systems. They read and love the E-Myth, and want to get hold of a system and leverage the asset to create prosperity while maintaining work-life balance. This doctor may want to open multiple locations to embrace the extended benefits of franchising."
HealthSource
"HealthSource isn't right for everyone. For starters, you have to want to put the patient first. That's #1. We are an outcomes based, scientifically-backed model, so if your idea of chiropractic care is to adjust them and then let them go, we are not for you. This speaks to the larger issue of making sure your values align with the franchise you're considering. You both have to see eye to eye if your relationship is going to work."
1. The Joint is different because of its unique delivery system. Our model does not accept insurance, does not offer scheduled appointments, and is open convenient hours that are focused on the wants and needs of the patient. Price structure, hours, convenience and the "anytime" avail-ability all define the uniqueness of The Joint.
The Joint is also unique because it does not compete with traditional chiropractic offices, since we refer all auto-accident and on-the-job-injury patients, as well as patients when X-rays, physiotherapy and rehabilitation are indicated. Doctors in a traditional practice model have increased their practices simply by developing relationships with and accepting referrals from The Joint clinics in their communities.
2. Starting base salaries vary across the country but $60,000 annually is not uncommon and many of our doctors make in excess of $100,000 per year. The Joint is hiring and currently has openings for qualified doctors of chiropractic all across the country.
3. There are presently 271 The Joint franchises in operation employing approximately 850 doctors of chiropractic who provide well over 2 million patient visits annually. In conjunction with our continued franchise growth strategy, The Joint is also opening corporately owned clinics in select markets nationwide.
4. The franchise fee to open a franchise clinic is $39,995. The estimated capital required including the franchise fee to open a single The Joint franchise unit ranges from $140,000 to $250,000, depending on the location of the unit and the cost of leasehold improvements. There is a monthly royalty fee of 7 percent plus 2 percent contributed to a national marketing fund.
1. At HealthSource, we've systematized the entire chiropractic practice model so doctors of chiropractic have more time to spend with their patients and take vacation with their family. As a result, doctors who join HealthSource build clinics that are highly profitable with less of a time commit-ment. Each of our docs is also 100 percent focused on patient care and uses only scientifically proven methods of care, tailor-fitted to achieve the desired end result of each patient. We do not take a "one-size-fits-all" approach to care.
When you have an entire team behind you that shares your values and wants to see you succeed – and only succeeds when you succeed – then you actually have a chance to have the practice you've always dreamed of having.
2. While we can't legally discuss what our doctors earn, we can say the average HealthSource clinic collects 27 percent more than the average solo non-HealthSource clinic. (Figures come from an annual survey and Item 19 in our FDD. Sources available upon request.) Because of our systems, the time commitment is also considerably less, giving each doctor more free time.
3. We currently have 356 franchises – all inside the United States – and our goal is 1,000 throughout the U.S. in 10 years. We'll grow by continuing to reach out to doctors interested in hearing more about the HealthSource model; and to recent graduates who desire an outcomes-based model to chiropractic care, as opposed to the "rack 'em and crack 'em"-style model.
4. The franchise fee for existing clinic owners is $34,000. The fee is $39,000 for new launches.
1. AlignLife is a fully integrated chiropractic wellness system in which all centers provide a five-star service offering including chiropractic care and rehab-ilitation, clinical nutrition, detoxification, hormone balancing and weight loss.
CEO Dr. Joseph Esposito's experience as a chiropractor, nutritionist and certified traditional naturopath allows him to create a clinical culture that resonates around objective clinical outcomes in regards to the musculoskeletal, neurological, endocrine and immune systems. The foundation of the franchise centers around subluxation-based chiropractic care, with strong educational platforms on lifestyle and dietary modification. AlignLife is about total body wellness.
Dr. Cristina Esposito, president of AlignLife, brings management and systems experience to the franchise with her background as a Naval officer. A strong back-end support network and marketing infrastructure generates office efficiencies and new patients. The AlignLife infrastructure was built over a 20-year period and includes a custom EMR system, signature marketing platforms and a nutrient line. All are proprietary, allowing AlignLife to be dynamic in a volatile health care landscape.
2. Our current franchise agreement doesn't allow for claims of earning potential.
3. We currently have 30 locations, primarily in the Southeast and Midwest. The current focus of our expansion is in South Carolina, Georgia, Illinois and Indiana.
4. A franchise agreement is a 10-year term: $39,000 for a new center, $29,000 for a conversion franchise (a clinic similar to an AlignLife Center, owned / operated for at least 24 months with average revenues of $120k over the past 12 months).
Some doctors thrive in a personality-based clinic and have a loyal following no matter what services or equipment they offer, but for most chiropractic offices who are trying to grow and expand, new equipment purchases help us stay relevant and continue to service our client base in the best, most up-to-date manner possible. So, regarding equipment purchasing: should you lease, get a bank loan, or pay cash?
Some pundits say that the upcoming presidential and congressional races, and many local races, might be the most consequential in our country’s history. We do not have the choice of sitting on the sidelines and hoping our patients will carry our water. Unlike other medical professions such as physical therapists, podiatrists, nurses, etc., the health care class (AMA) will not protect us. We must be in the game.
The most common condition affecting the shoulder is rotator-cuff disease. From acute tears to chronic tendinopathy, it’s common and needs a thorough workup. In fact, even asymptomatic shoulders can have full-thickness rotator-cuff rears in up to 40% of instances. Let’s look at additional conditions that can present to the office with weakness, loss of motion and pain in the shoulder beyond rotator-cuff tears.
