Private practice physical therapy is experiencing rapid consolidation.
If you’ve been in business for several years, you’ve likely noticed the trend. Local PT businesses are getting snatched up by the hospitals and mega-PT corporations with deep pockets. You may have also noticed some private practices becoming a part of a franchise.
Although it may seem to be the same, franchising is very different than the other options. For some, it’s revolutionary.
So, what does it really mean to join a PT franchise?
Joining a franchise doesn’t mean “selling out” as you might think. That’s the biggest difference between mega-PT corporations and franchises. A franchise allows you to remain 100% independent and autonomous.
You also gain resources, branding, education/training, and more through the franchisor. As a franchisee, you take advantage of business systems and procedures, marketing strategies, brand recognition and often buying power that comes along with working with a large company. Buying power means cheaper equipment and retail products.
Additionally, franchises work on exclusive territories. Put simply, to join a franchise, you invest in your territory (the area of your community you want exclusivity in) and you become the only franchise location permitted to operate within the territory. This allows you to dominate your market and eliminate competition.
Why join a PT franchise?
The future of healthcare will not allow private practice owners to keep operating in the same fashion and expect the same results. Thankfully, there is a new franchise business model allowing private practice owners to enhance their patient care, make more money, and fight consolidation and competition.
From advanced balance therapies and medically-based fitness programs, to automated patient referral systems, management strategies, and marketing tools to generate additional lines of revenue, a franchise can provide a multimillion-dollar business model that helps you offer what no other organization in the world does, while remaining 100% independently owned.
If you’re looking to just sell and get out of your PT business, you may think a PT corporation or hospital is the way to go. However, you might want to rethink that idea.
If you want to grow your business and keep treating for years to come, consider the franchise route. Even large independent practices are struggling to survive in the current healthcare environment. Joining a PT franchise allows independent practices of all shapes and sizes to achieve their goals and thrive in the PT industry.
Click here to request more information about franchising with FYZICAL and receive your free info kit today!
