What Are Some of the Costs Associated with a HealthSource Franchise?
December 12, 2019
As any entrepreneur can tell you, starting your own business takes an investment in time, energy, and money — and a chiropractic practice is no different. But one of the big differences between starting a business from scratch and partnering with a franchisor is that, as a franchisee, the expense of starting your business is often more transparent and laid out. That said, if you’re wondering what it costs to open a chiropractic business with HealthSource, you might be surprised the learn that your estimated initial investment covers just about everything you’ll need to get your practice up and running, including our comprehensive training and support. Let’s spend a few minutes here learning what a HealthSource investment looks like and what it gets you.
Initial Franchise Fee
Doing business as a franchisee, no matter what brand you’re interested in, requires you to pay a one-time initial franchise fee, and in our case, that’s $45,000. This fee allows you to do business under our respected brand name, gets you access to our time-tested business model, and pays for the initial training (excluding travel and lodging) and onboarding you’ll enjoy as our new franchisee. It also entitles you to a number of helpful resources that will simplify the process of running and growing your business.
Finding and leasing the right location for your practice is critical to its success, and as part of the costs to open a chiropractic business with us, we’ve factored in three months-worth of rent, or around $9,000. Leasehold improvements, such as construction costs, will likely cost extra, depending on what’s needed. The good news is, you won’t be going it alone; we’ll help you identify the perfect spot for your new business, one that takes full advantage of its demographic, and will help you market it to your target audience as well.
Equipment and Furnishings
Of course, you can’t provide quality chiropractic services without the right equipment to diagnose and treat your patients. We’ve built the cost of diagnostic, chiropractic, and physical therapy equipment into your estimated total investment, and these expenses will start at around $28,600. This number could be higher, depending on your needs and the services you wish to provide. Additionally, you’ll want to make sure your practice presents itself in a comfortable, professional, and inviting way — and that means buying the right furnishings to make that impression. Couches and tables for your waiting room, along with artwork and accessories are all important details that shouldn’t be overlooked. You should plan on spending at least $2500 for these items, and we can provide you with guidelines and advice as you outfit your practice to make it look its best.
The Estimated Initial Investment
When it’s all said and done, we estimate that your initial investment in a HealthSource chiropractic franchise will start at around $207,000. That amount could be higher, depending on factors like the size and location of your practice. But no matter where you locate your business, or whatever its size, you can be sure that our team of franchise experts will be with you every step of the way, helping to get you ready to provide our valuable suite of services to your community.
For more information about what it costs to open a chiropractic business with HealthSource, request a copy of our franchise disclosure document.