Why Owning The Joint Chiropractic Franchise is a Smart Choice in the New Normal
President & Chief Executive Officer of the fastest-growing chiropractic franchise in the nation opens up in wide-ranging interview
The Joint Chiropractic®, the fastest-growing chiropractic franchise in the nation, excels at helping entrepreneurs thrive in a business that makes access to convenient, affordable and chiropractic care obtainable for millions.
Now, as the country experiences an unprecedented pandemic, The Joint has mobilized its significant resources to help franchise owners not only thrive and adapt, but also to keep their doors open to continue to treat the people who need relief from back and neck pain.
For Peter Holt, President & Chief Executive Officer of The Joint Chiropractic, the recent pandemic reflects the true value proposition of franchising: entrepreneurs are never in business by themselves, and in good times and bad, they will receive the support they need to prosper. In this wide-ranging interview, Holt shares everything from how our thriving chiropractic business model is designed to help our franchisees maximize profitability, to why franchising is more attractive than ever, to what makes The Joint Chiropractic an attractive investment, and much, much more.
We all know that prior to the pandemic, brands that were focused on wellness were already on the rise. Now, we’re moving through a period where millions of people are overstressed and the overall quality of life is top of mind for many of us. Where does The Joint fit into this landscape of helping people heal?
Holt: You’re absolutely right — health and wellness has taken on a much greater role in our current climate. I think the traditional methods are being transformed by the digital marketplace, so you’re seeing services become stronger in the health and wellness retail sector. This includes yoga studios, stress labs, and chiropractic care. Having said that, I think what we do at The Joint is at the heart of that in terms of what we’re offering. First, we provide acute chiropractic care for patients who come in for pain relief. However, our overall message is to improve the quality of life through affordable chiropractic care. Once we’ve alleviated your pain, we have a subscription-based membership model that allows patients to come in and use that weekly adjustment to keep themselves mobile, moving freely, and living the life they’re striving for.
While this was a difficult period for many, especially independent business operators, The Joint was able to mobilize all of its resources, expertise and leadership to help support franchisees through the crisis. How did you do that and what are some of the silver linings that you experienced?
Holt: The silver lining for me during this trying time is that our brand improved our level of communication and connection with our franchise community in a way we never have before. We are now having weekly meetings with our National Franchisee Advisory Board, we’ve created a safety and support hotline where franchisees can call about key issues. We have also converted our quarterly meeting to a weekly COVID Town Hall meeting where we share best practices related to improving the sanitation and cleanliness of our clinics.
As a result, we have created several webinars specific to the issues we were facing in the moment so that our franchisees would be able to survive and thrive during the pandemic. This included how to market in an uncertain time, how to apply for PPP loans, how to negotiate with your landlord about rent deferrals and more. I’m certainly looking forward to seeing that continue and build upon that increased connection as we go forward.
This unfortunate time is proving challenging for independent operators across the nation. What makes the franchising model more attractive now than it was before this pandemic?
Holt: I couldn’t imagine being an independent owner and having to go through this trying time figuring out how to apply for financial resources, marketing and more. Ultimately, you’re left with all of these questions and you have no one to go to for answers. I think that is truly the power of the franchise model – we stand by our franchise owners during good and bad times. We’re seeing now that independent owners and operators are struggling to keep their doors open, and they are going to have a harder time recovering from this. As a result, you’ll see bankruptcies and restructuring like you have never seen before. However, franchise owners benefit from being part of a system because we are able to work collectively, share resources, and learn from each other’s experiences in a relatively short period of time.
For the first time in franchising, we have a new category of business called the “essential business.” Can you explain the importance of investing in an essential business?
Holt: Well, we took a position very early in the pandemic that we were in fact an essential healthcare service and that we would stay open wherever and whenever we can. By doing so, our franchisees were not only able to stay open, but also help serve those patients who came in to stay out of traditional medicine, which we have seen overwhelmed with treating COVID -19 patients. Ninety percent of our clinics remained open and, quite frankly, if the patients didn’t show up it wouldn’t have mattered. In April, it was so humbling to see 60% of our patients continue to come in for their adjustment. So, it is certainly advantageous to be an essential business as opposed to some of these other franchise systems that are not because they will have a much more difficult time recovering and reopening as we evolve from this pandemic.
One of the things that The Joint franchise owners are all united about is helping people in their community heal from pain. How do you think the brand’s services helped people get through this crisis?
Holt: improving the quality of life through affordable chiropractic care is not only in our mission statement, but also in the DNA of The Joint Chiropractic. According to the statistics, 60% of us have been working from home. Most of us don’t own ergonomically correct chairs, so we’re slouched over our computers or sitting on the couch putting our spine more at risk than ever before. Additionally, children are out of school and there are other stressors at home that are building up. This really gives us an opportunity at The Joint to educate consumers who are not necessarily aware of the efficacy of chiropractic care and how it can help them. So, by keeping our clinics open and serving people, we are able to help people get moving and really address the pain that has been exacerbated by working from home.
Why is now a good time to invest in The Joint Chiropractic?
Holt: I think this has shown us the strategic vision of this concept, which is providing healthcare services of chiropractic care to people who traditionally have not had access to it. By putting our clinics in a retail setting, making it convenient and affordable, with no appointments or insurance, allows us to introduce people to chiropractic who never had access to it before. Moreover, COVID-19 hasn’t changed the fact that our nation is seeking a more holistic approach to alleviate pain. So, I think, the business opportunity for us as a concept that helps people alleviate their pain through chiropractic care on an ongoing basis is unchanged. In fact, our need has increased because we have people more in pain working from home and they need more opportunities to address that. I think as more people try chiropractic, they will find that the power and efficacy of chiropractic is remarkable.
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The Joint Chiropractic revolutionized access to chiropractic care when it introduced its retail
healthcare business model in 2010. Today, the company is making quality care convenient and
affordable, while eliminating the need for insurance, for millions of patients seeking pain relief
and ongoing wellness.
With more than 500 locations nationwide and over seven million patient visits annually, The
Joint Chiropractic is a key leader in the chiropractic industry. Named one of the Top 200+
Franchises by Franchise Times and ranked number 78 overall on Entrepreneur magazine’s
Franchise 500 ® list, The Joint Chiropractic is an innovative force, where healthcare meets retail.
For more information, visit www.thejoint.com . To learn about franchise opportunities, visit
The Joint Corp. (NASDAQ: JYNT) is a franchisor of clinics and an operator of clinics in certain
states. In Arkansas, California, Colorado, District of Columbia, Florida, Illinois, Kansas,
Kentucky, Maryland, Massachusetts, Michigan, Minnesota, New Jersey, New York, North
Carolina, Oregon, Pennsylvania, Rhode Island, South Dakota, Tennessee, Washington, West
Virginia and Wyoming, The Joint Corp. and its franchisees provide management services to
affiliated professional chiropractic practices.
About The Joint Chiropractic
The Joint Chiropractic (NASDAQ: JYNT) revolutionized access to chiropractic care when it introduced its retail healthcare business model in 2010. Today, the company is making quality care convenient and affordable, while eliminating the need for insurance, for millions of patients seeking pain relief and ongoing wellness. With more than 460 locations nationwide and over 6 million patient visits annually, The Joint is a key leader in the chiropractic industry. Named one of the Top 200+ Franchises by Franchise Times and ranked number 109 overall on Entrepreneur magazine’s Franchise 500® list, The Joint Chiropractic is an innovative force, where healthcare meets retail. For more information, visit www.thejoint.com. To learn about franchise opportunities, visit www.thejointfranchise.com.
The Joint Corp. is a franchisor of clinics and an operator of clinics in certain states. In Arkansas, California, Colorado, District of Columbia, Florida, Illinois, Kansas, Kentucky, Maryland, Massachusetts, Michigan, Minnesota, New Jersey, New York, North Carolina, Oregon, Pennsylvania, Rhode Island, South Dakota, Tennessee, Washington, West Virginia and Wyoming, The Joint Corp. and its franchisees provide management services to affiliated professional chiropractic practices.