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HealthSource Chiropractic Franchise ProfileHealth & Beauty Franchises > Spas |
What is the Initial Investment for a HealthSource Chiropractic Franchise?
To start a HealthSource Chiropractic franchise, you will need to prepare for an initial investment that ranges from $310,145 to $534,719. This includes a franchise fee of $60,000. It's important to have cash on hand within this range, along with a net worth requirement of $500,000 to $1,000,000. Understanding these financial commitments is crucial for aspiring franchisees to assess their readiness for ownership.
What are the Financial Performance Metrics of a HealthSource Chiropractic Franchise?
HealthSource Chiropractic franchises have shown promising financial performance, with an average annual revenue per unit of $513,184 and a median annual revenue of $442,547. The highest annual revenue reported is $1,636,167, while the lowest stands at $67,647. Such metrics can help potential franchisees gauge the profitability of the business and set realistic financial expectations.
What are the Ongoing Fees Associated with a HealthSource Chiropractic Franchise?
Franchisees should be aware of the ongoing fees that accompany operating a HealthSource Chiropractic location. There is a royalty fee of 7% of gross revenues and a marketing fee of 2%. These fees are essential for maintaining brand standards and supporting marketing initiatives, which can ultimately drive customer traffic and sales.
What is the Breakeven Timeline for a HealthSource Chiropractic Franchise?
HealthSource Chiropractic franchises typically experience a breakeven time of about 12 months, with an investment payback period of around 7 months. This relatively quick return on investment can be appealing to potential franchisees, as it indicates a potentially lucrative opportunity for those committed to executing the business model effectively.
HealthSource Chiropractic Franchise Financial Requirements
Below, you’ll find an overview of the initial investment needed to launch the business, along with the ongoing fees required by the franchisor to maintain operations over time.
The minimum total assets (minus liabilities) you must possess.
Net Worth Required:
The estimated period to recoup your total investment.
Investment Payback:
The initial fee paid to join the franchise system.
Franchise Fee:
Ongoing percentage of revenue paid to the franchisor.
Royalty Fee:
Regular contribution toward the franchise’s advertising fund.
Marketing Fee:
The estimated timeframe to recover your initial costs.
Breakeven Time:
The total amount required to launch the franchise.
Initial Investment:
The minimum liquid capital you must have on hand.
Cash Required:
The typical yearly revenue generated per franchise location.
Average Revenue:
The middle value of yearly revenue among franchise locations.
Median Revenue:
The largest reported annual revenue among franchisees.
Highest Revenue:
The smallest reported annual revenue among franchisees.
Lowest Revenue:
A broad sector defining similar types of franchise businesses.
Industry:
A more specific division within the broader industry.
Category:
The key individuals guiding the franchise’s strategy and growth.
Leadership:
The official business address of the franchisor’s headquarters.
Corporate Address:
Available financing options to help start the franchise.
Funding Year:
The main organization that owns the franchise brand.
Parent Company:
HealthSource Chiropractic Franchise Unit Growth Summary
A breakdown of corporate, franchised, and total units, with yearly net changes.
Total Units
Franchised Units
Corporate Units
| Units | 2021 | 2022 | 2023 |
|---|---|---|---|
| Total Units | 144 | 138 | 130 |
| Net Change YoY | -6 | -8 | |
| Franchised Units | 144 | 138 | 130 |
| Net Change YoY | -6 | -8 | |
| Corporate Units | 0 | 0 | 0 |
| Net Change YoY | 0 | 0 |
Investment Overview
HealthSource Chiropractic offers a franchise opportunity with an initial investment ranging from $310,145 to $534,719. The franchise fee is set at $60,000, alongside a royalty fee of 7% and a marketing fee of 2%. Prospective franchisees should have a net worth between $500,000 and $1,000,000, ensuring they have the financial stability to support their business venture.
Financial Performance
Franchisees can expect an average annual revenue of $513,184, with a median revenue of $442,547. The revenue potential varies significantly, with the lowest annual revenue recorded at $67,647 and the highest at $1,636,167. This range illustrates the potential for growth and profitability within the HealthSource Chiropractic franchise model.
Breakeven and Payback Period
HealthSource Chiropractic has a breakeven time of approximately 12 months, which is relatively quick for the industry. Franchisees can expect to recover their initial investment in about 7 months, making it an attractive opportunity for those looking for a faster return on investment.
Franchise Growth
As of 2023, HealthSource Chiropractic operates 130 franchised units, showing a slight decline from 144 units in 2021. This trend highlights the importance of strategic planning and market analysis for franchisees to ensure sustainable growth and competitiveness in their respective markets.
Operational Costs
The average running expenses for a HealthSource Chiropractic unit total around $325,687 annually. Key expenses include non-owner wages (28.9% of gross revenue), rent and utilities (9.4%), and royalty fees (6.2%). Understanding these costs is crucial for franchisees to manage their operational budget effectively.
Company Background
HealthSource Chiropractic is dedicated to providing high-quality chiropractic care and wellness services. With a focus on patient-centered treatment and a comprehensive approach to health, the franchise has established a strong reputation in the chiropractic industry. The brand's commitment to education and community involvement further enhances its appeal to potential franchisees and customers alike.
Frequently Asked Questions
The initial investment for a HealthSource Chiropractic franchise ranges from $310,145 to $534,719. This includes the franchise fee, equipment, leasehold improvements, and other startup costs.