The Joint Franchise Is in Rapid Growth Mode
The fastest growing chiropractic franchise brings on new VP of Franchise Sales and Development to shepherd in era of rapid national expansion
The Joint is the fastest growing chiropractic franchise in the nation, with over 370 clinics open. The brand has no plans of slowing down anytime soon, with goals to expand to 1,700 locations across the United States in the coming years. In order to facilitate this growth, the company has brought on Eric Simon as the new VP of Franchise Sales and Development.
Eric comes to The Joint with decades of experience in the franchise industry, and most recently served in the same role in a high profile setting with AAMCO, where he helped usher in a new period of growth and franchisee satisfaction for the iconic transmission repair giant. Eric’s background goes far beyond his role, spending time as both a franchisee, and in the intellectual realm of franchising, analyzing the industry and helping brands finance their applicants with a company called FRANdata.
“I was attracted to join The Joint for a bunch of different reasons, but the fact that The Joint is in growth mode was high on the list,” Eric says. “In my career, I’ve been with franchisors at various stages in the life cycle of a brand — some needed rehabilitation, some needed to become established, but when a franchisor is in growth mode, that is the most exciting time to be there. I also wanted to be a part of something that was helping people, and with The Joint being at the forefront of the rapidly growing chiropractic industry, the opportunity to do so is enormous. It was a no brainer, and I’m excited about the future of this great brand.”
Founded in 1999, The Joint has revolutionized the $14 billion chiropractic industry. As the first publicly-traded membership-based chiropractic franchise, The Joint is a vastly different business model than the hard-to-find chiropractic clinics of yore. The Joint places its clinics in highly visible retail settings next to local coffee shops and supermarkets. There are no appointments, no insurance and no waiting to see a doctor. The Joint is also far more affordable than traditional chiropractic clinics; the average visit to The Joint costs nearly half as much as the insurance co-pay of a traditional chiropractic visit.
“People are looking for alternative ways to manage pain, and for the millions of people who suffer from daily back pain, The Joint doesn’t disrupt their entire lives,” Eric says. “Our customers don’t have to take the day off work to find relief. They can visit us on their lunch breaks or on their way home from work. It’s at a price point where people don’t have to go through insurance, and our membership model makes visiting us even more affordable. The Joint is super convenient for customers, there are no appointments, and it serves a market that is underserved: the millions of people who experience back pain but haven’t experienced chiropractic care before. It’s a win-win for consumers and our franchisees alike.”
As a franchise system, The Joint is in a class by itself. Entrepreneur magazine recently ranked The Joint as the No. 1 franchise opportunity in the healthcare segment for the second year in a row on their prestigious annual “Best of the Best” list. The brand’s proven business model is providing entrepreneurs and chiropractors alike with the chance to live their passion of helping others while also making a great business.
With a small footprint, limited overhead and a staff consisting of three to four employees, The Joint is easy to operate and boasts a proven business model that is unique in the $3 trillion healthcare industry. Our membership model eliminates the need for insurance, while providing our franchise owners with a recurring revenue stream that helps to maximize profitability and potentially hasten the return on investment. Our model works for chiropractors seeking to own a simpler business that avoids the nightmare of insurance billing, and it works incredibly well for business investors who see the need for more accessible chiropractic care.
“It’s such a simple business model, so it’s easy for new entrepreneurs to understand how they can be successful,” Eric says. “It’s also equally attractive for chiropractors who are sick of the insurance industry, which gets in the way of their private practice. They want to be able to take on new patients and practice their craft, and have an accessible, cash-only business to complement their traditional clinic. There’s no costs of goods, there is minimum overhead, and it’s a high volume business that’s providing a service millions of people need. Chiropractors often wonder how we can charge what we charge and be profitable, but once they talk to our franchisees, they get it. The simplicity of our business model is just world’s away from traditional clinics, and it is why our franchisees can quickly scale to multiple units.”
Part of the success of The Joint is that the brand is the first to put chiropractic care into the retail setting; The Joint 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 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.
“When people come into the system, we go above and beyond to ensure that when they open their doors to their community, they are positioned for success,” Eric says. “The real estate team uses a phenomenal amount of data, and takes a scientific, analytical approach to where clinics should go in any given market. We want our franchisees to be successful over the long-term, so we measure everything from demographics to psychographics to city planning. Our process really works. Our next Franchise Disclosure Document will have an in-depth Item 19, which will give prospective franchisees a full view of the past year’s financials from a large group of existing franchisees. We had a really great year in 2016, and 2017 is shaping up to be even better.”
The Joint is a low-cost investment opportunity with high potential returns
With the total financial estimate to begin operations on a new chiropractic franchise ranging from $216,200 to $331,700, 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 to allow for a potentially faster return on investment. The franchise fee for your first chiropractic franchise is $39,900.
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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 600 locations nationwide and over eight million patient visits annually, The Joint Chiropractic is a key leader in the chiropractic industry. Named on Franchise Times “Top 200+ Franchises” and Entrepreneur’s “Franchise 500®” lists, The Joint Chiropractic is an innovative force, where healthcare meets retail.
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, 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 certain professional chiropractic practices.