Looking for a new business opportunity is always a tough task. Not because you won’t find any but rather the opposite: there are so many that you won’t know where to start.
However, if we can tell you about an option most people consider nowadays, that’s definitely owning their businesses by purchasing a franchise.
In case you’re not familiar with how franchising works, let’s keep it simple and say you also start your business with all the materials, equipment, property, and anything you might need.
But instead of starting from zero and having to handle every step on your own, you will get the assistance of the franchisor you chose by paying investment and going through the proper and established process.
Of course, franchising is more than this simple explanation; but it is quite the general concept you get. We do not include the fees and conditions, but we can tell you they exist in advance.
Now, many franchises are available in the market, and the next challenge appears when you need to choose one of them for your investment.
In case you’re interested in the business option, you will come across this one: The Joint Chiropractic.
This franchise has been around for quite a while and is part of the top options for very good reasons, but is it truly something where you want to place your money? What about finding it out with us?
The Joint: When It Started & Mission
If you’re going to invest your time and money somewhere, you better make sure you’re aware of how it works and the crucial details about the business.
Thus, we always like to start with the basic yet crucial information about the franchisor.
The Joint takes us back to 1999 when a Doctor of Chiropractic named Fred Gerretzen decided to found the company with the vision of making routine chiropractic care more accessible, friendly, and affordable.
But how did he make the task of making it affordable possible?
Usual chiropractic clinics and services work closely with insurance companies, which tend to make them more expensive and bureaucratic.
However, Dr. Gerretzen decided to start the business as a franchise that only worked with the cash-only model to avoid insurance companies.
In this way, the doctors and company overall are able to focus on the health solutions they offer instead of working around paperwork and specific forms to provide the service.
With this set of mind, the company started low but very efficiently with just a few offices around the country.
Unfortunately, there aren’t many details about The Joint from 2005 to 2010, but it is reported it did perform well to the point of moving to a bigger step in 2010.
The company’s investment group decided to hire John Leonesio, a franchise expert and founder of Massage Envy, to make the business model grow based on the founder’s idea.
Thanks to the effort of Leonesio and John Richards, former president of North American operations for Starbucks, the company grew exponentially.
The Joint now has more than 500 offices across the country and is the industry leader in chiropractic care.
Although the main purpose is to provide affordable and better chiropractic care, the franchise has a special focus on optimal spine health as part of a routine, which is why the statistics shared by the business show over 4 million spines treated.
Other services include:
- Pain relief.
- Back pain.
- Spinal manipulation.
- Conventional medicine.
- Neck pain.
- Alternative medicine when required.
Investing in The Joint Chiropractic: How Much Does It Cost?
Although this franchise is quite new in the market compared to others that have been around for decades, it is a good option in terms of investment.
It has a good reputation and the services offered are quite profitable around the country.
Since the company became an actual franchise in 2003, it has built a good number of clients around the country, with all the offices added in 2010 as well.
Now, not everything is about reputation and possible benefits.
We also have to consider how much this franchise will cost and if you are able to afford the expense.
Franchises aren’t usually cheap or considered affordable, especially if they involve having a commercial property, equipment, and more elements that are included besides proper training.
In the case of The Joint, the requirements for becoming a franchisee include:
- Cash Required: $100.000.
- Net worth required: $350.000.
- Startup investment: $203.397 to $380.697.
- Good credit history and score are needed.
The question now is: what does this investment include?
Based on the disclosed document shared by the company, The Joint offers support platforms in the industry to ensure you are able to get assistance in anything needed.
The work the team will have to deal for you is everything related to establishing your business:
- Finding the location in your city.
- Help with local marketing.
- Hiring chiropractors to expand and offer all services.
- Financial and ongoing business coaching.
- Training and chiropractic education.
- Learn about chiropractic management and chiropractic practice (as redundant as the last sounds).
- Financing real estate and not only finding the location.
- Equipment and appliances.
To layout the entire expenditure, we have to go over the average startup investment that tends to vary based on how big the local will be, your location, and other factors during the development of the business.
The $204k+ are related to the initial franchise fee set at $39.900, security and utility deposits about $5.800, and clinic design fee for $1k.
Other expenses like architectural, leasehold improvements, signage, three months’ base lease rent, office equipment, furniture, fixtures (as previously mentioned), professional equipment, computers, licenses, and all the required uniforms and paperwork are included.
Finally, local advertising, grand opening, and additional funds are included in the investment.
Besides the initial investment and expenses, remember that franchises set fees for their franchisees.
The current royalty fee of The Joint is set at 7%, while the National Marketing Fee is at 2%.
Pros & Cons: Making the Final Decision
We were mentioning that it is a good option to invest and, so far, the franchise has shown to be serious about its mission and purpose.
However, the money can be a huge barrier to making it possible, and you also have to consider other cons that come with the business model overall.
That being said, we don’t like to tell people where to put their money or not, but if you’re going to become a franchisee or consider it, you need to ensure you’re all right with the business model overall.
Also, you can find this opportunity to be good in the long-term, but can you afford the short-term?
To answer these questions, take the time to go over the pros and cons:
Pros:
- The company’s reputation has been quite good since 1999.
- You don’t need to start your own business from zero and instead have continuous support.
- You don’t need to work so hard for brand awareness, thanks to the franchise’s reputation.
- Training, support, and continuous marketing service are provided.
- Royalty fees and marketing fees are quite low compared to other options.
- If you like the niche, it is a good option you can enjoy and earn money with it.
- Financing options are available, as well as veterans discounts.
Cons:
- With over 520 offices around the USA, it can be hard to start yours if there’s already one in your city (or even 2+).
- Fees are permanent, and you will always have to comply regardless of your time with the franchise.
- This means your revenue is reduced.
- Although the company mentions its affordability, other options are cheaper.
- It takes between 7 to 12 months to open.
Overall, it looks like a good option as long as you can handle the initial investment, which we personally find quite high, as mentioned on the cons.
It is also about preferences and considerations based on your goals and ideas and if you can work well with franchise systems.
After all, this business will require you to be a health care provider, handle chiropractic treatment, and have medical doctors among your personnel and members.
Finally, make sure you are all right with the franchise agreement and franchise disclosure document you will have a look at.
Would We Choose Franchising? Not Really…
It can be hard to find a business opportunity that allows you to invest small amounts to get started. Also, dealing with a business from zero is never an easy task.
Thus, we understand why so many people choose the option of becoming franchisees instead of continuing looking.
However, what if we tell you that other options are available and they usually require less money, bring more benefits, and you don’t have to handle the hustle of working in a store or dealing with direct clients?
After all, franchises tend to focus on physical stores and offices, leading to long work hours. It is also important to consider logistics, such as transport, time, and equipment, and don’t forget about the revenue you may not be able to generate when paying for fees.
Suppose you quit the idea of the traditional business model and focus on digital opportunities and models that are based on the internet. In that case, you will have more chances to boost your profits and get freedom.
Lead generation is our preferred option because it is cheaper than franchises, and we consider you might love it more as well.
You can start your business at any hour and work remotely. As you grow your business, passive income will be earned as well.
If you still want to invest in the franchise, you can still manage and learn lead generation. You have two options: you can choose to concentrate on it or take control of both. But how is this possible?
You will need to understand that lead generation is about choosing a niche (it can be the same as The Joint), finding clients, creating websites for them, ranking the sites on Google to generate traffic, and then generating leads that are potential customers for them.
You get paid for every lead generated per website and client, so if you translate this into the option of being a franchisee, you could work around your own lead generation strategy to bring clients.
It’s all about creating leads, ranking your website on Google, and driving organic traffic.
Just remember that learning the basics, knowing how to find your clients, and working around the business will require some training.
For it, this #1 training program is the one we absolutely recommend…
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