How Much Money Can I Make?
Find out how well The Joint chiropractic franchise owners do in their clinics
“How much money can I make?” This is the most common question an entrepreneur will have when looking at a new investment opportunity. You want to know if your new venture will be successful, how fast you can recoup your investment and if the brand has a business model that will allow you to scale.
The Joint recently published their latest Franchise Disclosure Document (FDD), in order to provide you with a detailed and transparent look into the financial performance of The Joint franchise clinics. The new FDD reports on the entirety of the franchise clinics that were open the full year of 2016 (253 total), and The Joint couldn’t be prouder of the results: the rapidly growing chiropractic franchise experienced double digit growth in 2016.
The average gross sales for all the franchise clinics in operation in 2016 was $320,765, which is a 27.60% increase over last year’s number, and nearly $60,000 above what independent clinics reported during 2016. The top quartile clinics average $516,999 in sales with a year over year sales growth of 17.5%. The Joint’s franchise clinics saw 160 more patients on a weekly basis than traditional clinics on average, which only reported just above 100 visits per week.
The success of The Joint is the result of a proven business model. The Joint’s franchisees fall into two categories: chiropractors and entrepreneurs.. Chiropractors choose The Joint because The Joint’s membership model does away with the need for insurance companies, and because their accessible locations allow them the opportunity to not only treat more patients, but to focus entirely on helping their patients heal. Entrepreneurs choose The Joint because it is an easy business to run, quick to scale up to multi-unit locations, and is an opportunity to own a business that provides a much needed and meaningful service in their communities.
“We’re extremely pleased with our franchise network’s strong financial performance reflected in this year’s FDD,” says Eric Simon, VP of Franchise Sales and Development. “The tremendous double digit year over year growth, as well as how well our franchise clinics compare to the financial performance of traditional clinics is terrific validation for how revolutionary our model is for the chiropractic industry. These numbers should be a strong encouragement for entrepreneurs who are seeking a worthy business to invest in that has both the potential for strong financial performance but also meets a need with millions of people across the nation. Our double digit growth reflects that many people are seeking an affordable, accessible alternative to traditional chiropractic care.”
To get the full account of The Joint’s great news, consider this breakdown from Item 19 of the Franchise Disclosure Document:
|Quartile||# of Clinics||% of Network (sample)||2016 Average Gross Sales||# of Clinics that attained or exceeded Average||% of Clinics that attained or exceeded Average||Year over Year Sales Growth|
** For franchise Clinics open at least 12 months and for the full calendar year of fiscal year 2016.
The average patient visits per week of all Operating Clinics was 257.7 with the median number of patients per week at 239. We break down those 253 Clinics by quartiles using the sales performance numbers from chart 19.1. The average patient visits per week for the fourth quartile was 130.4 with the median patient visits per week being 137.5. The average patient visits per week for the third quartile is 212.1 with the median patient visits per week at 209.4. The average patient visits per week for the first quartile 406.8 with the median number of patients per week at 319.8.
|Quadrant||# of Clinics||% of Network||2016 Average Patient Visits Per Week||# of Clinics that attained or exceeded Average||% of Clinics that attained or exceeded Average|
For franchise clinics open at least 12 months and for the full calendar of fiscal year 2016.
The average new patients per week of all Operating Clinics was 17.8 with the median number of new patients per week at 16.2. We break down these 253 Clinics by quartiles using the sales performance numbers form chart 19.1. The average new patients per week for the fourth quartile was 11.4 with the median new patients per week being 11.4. The average new patients per week for the third quartile is 15.3 with the median new patients per week at 14.5. The average new patients per week for the second quartile was 18.1 with the median number of new patients per week at 17.9. The average new patient per week for the first quartile was 25.8 with the median number of patients per week at 24.3.
|Quadrant||# of Clinics||% of Network||2016 Average New Patient Per Week||# of Clinics that attained or exceeded Average||% of Clinics that attained or exceeded Average|
**For franchise Clinics open at least 12 months and for the full calendar year of fiscal year 2016
Your actual results will vary — average is just that, average. As we grow, so does our brand awareness and we believe the future is bright for our rapidly growing brand. Want to be our next Top Performer? Start a conversation with us about what it takes and it might just be the best conversation you ever have!