Want to know what’s involved when you invest in a healthcare franchise? You’ve come to the right place. Here, we’ll break down a few of the most important parts of the HealthSource franchise investment. Keep in mind, we’ve developed a complete breakdown of costs that can be found in our franchise disclosure document.
The Estimated Initial Investment
Investing in a chiropractic franchise with HealthSource starts at around $207,000. The total amount you’ll invest could be higher, depending on factors like the size and location of your practice. Of course, the cost to open additional locations might be lower as we offer substantial discounts to multi-unit owners. This figure includes just about everything you’ll need to get your business up and running. Read on to get a sneak peek at a few of the things that are factored into the initial investment.
Initial Franchise Fee
The initial franchise fee to open your first HealthSource franchise is $45,000, making it one of the most important parts of the investment in a wellness franchise. Our franchise fee grants you access to our brand name and business model, and also entitles you to a number of helpful resources that will simplify the process of running and growing your business. It also covers the cost of your initial training, aside from travel and lodging expenses.
We’ve built three months’ worth of rent into the initial investment, which we estimate will start at around $9,000. We’ve also factored in other costs related to your location such as a security deposit. Leasehold improvements, such as construction costs, will likely cost extra depending on what’s needed. Keep in mind, HealthSource will provide you with guidance as you find a location to help you choose a space that will fit all of your needs without breaking the bank.
One of the most important things to consider when you invest in a health and wellness franchise is the cost of equipment. Diagnosing patients correctly is key to determining the right treatment program, and the right equipment is required for both of these services. We’ve built the cost of diagnostic, chiropractic, and physical therapy equipment into the estimated total investment. We estimate that these costs will start at around $28,600, but this number could easily be much higher depending on what you’ll need to purchase.
It’s important to set up a beautiful space that makes clients feel comfortable, so the cost of furnishings can’t be overlooked. Couches and tables for the waiting room, along with artwork and décor, are crucial to setting the tone of your new business. We think our franchisees should plan to spend at least $2,500 on furnishings for their new location in order to create an inviting and comfortable practice. We’ll provide you with guidelines and advice as you furnish your practice to ensure it meets our brand standards.
Want to know what else is included when you invest in a healthcare franchise with HealthSource?