What Makes an Attractive Location?
The Joint Chiropractic franchise is revolutionizing the chiropractic care industry by placing its clinics in retail settings
Imagine how life might be improved if your doctor’s office was next to your local supermarket or favorite coffeeshop. Finding the place wouldn’t be a challenge, and parking would be a breeze. What if you didn’t have to make an appointment, missing half a day at work in the process, but could instead go when it was convenient for you? What if when you got there, you knew what to expect from your visit? What if your doctor actually cared about how much you enjoyed the experience?
The Joint approaches alternative healthcare from the radically different perspective of convenience and affordability. Why shouldn’t consumers be able to get their chiropractic care in the areas they already visit? The Joint places our chiropractic clinics in highly visible shopping centers — next to gyms, popular coffee shops, restaurants and grocery stores. The Joint has made chiropractic care more consumer-friendly than ever before. With over 370 chiropractic clinics open across the country, The Joint is actively seeking entrepreneurs, investors and chiropractors to help the millions of Americans suffering from back pain to find a key to a healthy lifestyle through affordable chiropractic care.
“The Joint is transforming the way chiropractic care is being delivered in this country,” says Peter Holt, President & CEO of The Joint. “Our clinics are next to brands like Chipotle and Starbucks. We’re easy, convenient and accessible to consumers; there’s no insurance necessary, and appointments are not required. A patient can walk into any franchise location and get an adjustment in five minutes. We’re the largest umbrella of chiropractic clinics in the world, and we’re only getting started. We’re growing from over 400 units to over 1,700 in the coming years. Our proven business model makes The Joint an excellent business for investors and licensed chiropractic doctors to invest in.”
What makes a good location?
The Joint is the first brand to put chiropractic franchise opportunities care into the retail setting. The brand’s clinics are placed in bustling shopping centers that have heavy foot traffic, ideal parking and the brands that the community loves to visit. And it isn’t a guessing game; The Joint takes a uniquely 21st-century approach in selecting the best locations for its clinics.
The Joint employs the strategies of Global Information Systems (GIS) and customer analytics to help determine exactly where a new location might be successful in any given community. From these metrics, The Joint not only identifies where significant portions of populations are going to shop, but they can also determine where people are going and why they are shopping in the first place. In addition, The Joint uses psychographic data to determine lifestyle choices based on income level, as well as how well an area might respond to the clinic in its community based on interests, flexibility of income and proximity to work.
“My role is to collect information on different trade areas, markets and demographics to evaluate potential areas and advise on the locations that we want to be in,” says Richard Matthews, Director of GIS and Customer Analytics with The Joint. “I think one of the best attributes at The Joint is our customer analytics. Because of our membership model, when people sign up as members of The Joint, we know the areas in which they live and how far they may be willing to travel to visit us. We can build new locations based on who we know is our ideal customer by utilizing what we know about who typically comes to visit us and where we are already successful. Without a doubt, our most successful locations are in the places that people visit most often on a daily basis, with grocery anchored tenants, QSR restaurants, nail salons — the kind of locations a family will visit multiple times a month.”
Easy to build and quick to open
One of the key benefits of franchising with The Joint is that our clinics require a small footprint and are easy to construct and build out. Once the perfect location is selected, a new clinic can be open in six to eight weeks, pending approvals from local governments. In short, the ease and the speed of which a new clinic can be opened can potentially quicken your return on investment.
The small footprint also helps make The Joint an easy business to run. Upon opening, only a small staff of three to four employees (including chiropractors) is required. There is low overhead and no inventory to manage.
With the total investment estimate to begin operations on a new chiropractic ranging from $181,250 to $341,050, The Joint is a low-cost investment opportunity with potential for high returns. Because our build-out costs are substantially lower than other brands in the healthcare segment, The Joint offers a quicker ramp-up time, which allows for a potentially faster return on investment. The franchise fee for your first chiropractic franchise is $20,000. We also want to honor our military veterans and as a part of VetFran we offer a 15% discount off of our initial franchise fee.
“The Joint is uniquely placed in today’s business environment, as people around the world are becoming more health conscious, more wellness conscious. With more than 400 locations, there is a large runway of growth to go,” Matthews says. “We’re targeting a national build-out of more than 1,700 locations nationwide. Our unit economics are phenomenal. In 2015, we had similar store comps — year-over-year sales growth of about 30%. Most retail brands would be satisfied with positive sales growth; 30% is really phenomenal.”