Scaling Success: How a Dynamic Partnership is Powering Growth and Impact with FYZICAL

Learn how a father-son entrepreneur team and a visionary physical therapist teamed up with FYZICAL to become Master Franchisees, build a thriving network of clinics, and transform their communities.

When a seasoned father-son entrepreneur team with hundreds of successful franchise locations across multiple brands set out to diversify, they sought more than just another business venture to expand their financial reach.

The Master Franchise Opportunity

They set their sights on a franchise that offered numerous pathways for sustained growth through cutting-edge, proprietary healthcare solutions, one that would drive profitability while making a lasting, meaningful impact in their local communities.

Enter FYZICAL Therapy & Balance Centers. As the nation’s fastest-growing physical therapy franchise, FYZICAL delivers more than just a profitable venture—it provides a powerful platform to scale a highly lucrative business and transform lives in communities nationwide.

With an extensive network of over 600 locations in 46 states, FYZICAL treats patients with muscle, joint, and neurological conditions nationwide. It offers proprietary therapies and fills a high-demand niche in healthcare. FYZICAL’s Balance Program sets FYZICAL apart, providing proprietary therapies and unparalleled solutions for patients while giving franchisees a competitive edge.

Capitalizing on FYZICAL’s unique opportunities, the father-son duo leveraged their franchising expertise to scale the brand. They joined forces with Mike Teater, DPT, a physical therapist and visionary physical therapy business operator dedicated to bringing groundbreaking treatments to local communities.

The result: a thriving enterprise, that, in just over two years, has seven clinics operating across Oregon and Washington, with plans to expand to 20 or more within the next ten years.

“As we look at our portfolio, we try to invest in franchise brands that are the clear winners in their industry,” said Tom S. Cook, FYZICAL owner-entrepreneur. “FYZICAL is way out in front, and I don’t see them losing their position.”

And Tom should know.

Tom and his father are accomplished entrepreneurs with a talent for identifying and cultivating successful franchise opportunities across various industries, including restaurants, fitness, signage, brewing, and health and beauty.

Tom Sr. is the co-founder and CEO of Pacific Bells, one of the largest Taco Bell franchisees in the U.S., and CEO of World Wide Wings, a prominent leader in the Buffalo Wild Wing system.

Together, they’ve built an impressive portfolio of thriving businesses, each driven by their ability to identify and invest in market-leading franchises and partner with passionate, skilled leaders to help drive their growth. FYZICAL was the perfect fit—they wanted a partner who shared their same goals.

That’s where Teater came in. “I wouldn’t have met Tom had I not been in FYZICAL,” he said.

Teater’s unwavering passion for patient care and vision to expand access to innovative treatments made him the ideal partner for the venture.

“Physical therapists, as a profession, are hard-wired to want to help people,” said Teater. “You’re always looking for ways to break down the roadblocks and barriers and provide great care to people,” he said.

“It’s human nature,” he added. “It's an internal desire to help others, and physical therapists are in a great position to be able to do that.”

Teater recognized FYZICAL as a powerful platform to make a broader, more meaningful impact on patient care. He understood that the brand’s innovative approach to physical therapy, particularly its focus on balance and vestibular treatment, could fill a critical gap in the healthcare market. “FYZICAL’s industry-leading Balance Program is unique to healthcare and provides us with the tools and training to best meet this need in our communities,” he said.

He also understood that scaling the brand to meet the rising demand for physical therapy and expanding access to cutting-edge treatments would significantly improve patients' quality of life while offering more cost-effective healthcare solutions—a vision perfectly aligned with his partners' goals.

The FYZICAL Investment Opportunity

“As they are growing their portfolio, they believe that physical therapy has a bright future from an industry standpoint,” said Teater. “It’s a less expensive, highly effective service that people need and value, as opposed to expensive surgeries and long-term use of medication,” he said.

“They believe that physical therapy will become a more integral part of healthcare as healthcare evolves.”

And they’re right.

The $59.4 billion physical therapy industry has seen explosive growth in recent years due to several key factors:

• Aging Population: By 2030, all baby boomers, now estimated at 73 million, will be aged 65 or older.[1] This demographic shift will significantly impact healthcare, and physical therapy can restore health, independence, and quality of life.[2] This means the demand for rehabilitation services is expected to grow significantly.
• Falls are on the Rise: As the age of the population increases, so does fall risk. Falls are currently the leading cause of injury for adults 65 years and older.[3] FYZICAL’s Balance Program addresses the growing need for balance therapy.
• Rising Rehabilitation Needs Post-Surgery: As the aging population undergoes surgeries like joint replacements or recovers from conditions such as strokes, the need for post-operative rehabilitation will increase.[4]
• Preventative Care Focus: Healthcare delivery in coming years will increasingly rely on primary care and an emphasis on prevention.[5] FYZICAL’s fall-prevention therapies are tailored to meet the increasing demand for balance and mobility support, targeting issues that often lead to falls.
• Direct Access to Physical Therapy: Each state has its own direct access, and it differs from state to state, so we advise checking your state’s direct access laws. This policy change has made it easier for individuals to get timely care, contributing to the industry's growth.
• Healthcare Cost Savings: As healthcare costs rise, physical therapy is seen as a cost-effective solution for managing pain, improving mobility, and avoiding costly surgeries and long-term care, making it attractive to patients and insurers.[6]

And there are no signs of slowing down. The industry is projected to reach $128 billion by 2032, with a CAGR of 10.1%.[7] FYZICAL’s Physical Therapy Industry Report highlights the explosive growth, key trends, and driving forces shaping this booming sector.

Teater originally transitioned his physical therapy clinic in Camas, WA, into a FYZICAL location in 2018. That clinic now averages more than 1000 visits and 100 new patients per month. The Camas team now helps more than 1,200 people per year on their path to improved mobility and wellness.

The success of that clinic opened the door to a more significant growth opportunity, leading Teater to partner with the Cooks as Master Franchisees. Together, they secured development rights for Oregon and Southern Washington, driving rapid regional expansion and opening six new clinics. The results have been impressive.

Since adding six new clinics, the total number of visits across all locations has surged to an average of 2,500 visits and 250 new patients per month. This translates to helping more than 3,000 people per year and performing 30,000 patient visits per year across all seven locations, more than doubling the volume from a year ago.

“We started out focusing on new locations – ground up, building up, staffing them, and growing them,” said Teater.

They quickly expanded by acquiring and transitioning existing practices to meet the surging demand for physical therapy. To address some of those unmet needs, they strategically introduced services within a 55+ community, improving access for those unable to reach a clinic easily.

“We brought our services into a community where there’s a big need for physical therapy that’s not being met,” said Teater. “It’s a really interesting way to adapt to the evolution of the healthcare marketplace.”

Teater credits FYZICAL for providing the innovative framework that has allowed them to scale and deliver specialized services across the communities.

“FYZICAL’s industry-leading balance and dizziness program is unique to healthcare and provides us with the tools and training to best meet this growing need in our communities,” he said.

“If people struggle with balance or dizziness, FYZICAL is the place to go.”

And that’s not all.

“Beyond expertise in balance, dizziness, pelvic health, and orthopedic conditions, the FYZICAL model is unique in that we provide quick access to one-on-one care,” he said.

“We do this because it yields the best results for our patients.”

As the intense need for specialized care continues to rise, tapping into this market allowed them to attract a steady stream of patients, turning unmet needs into sustainable revenue while building a profitable, scalable business that has also enhanced Teater’s financial expertise through FYZICAL’s comprehensive business support.

“FYZICAL has done a great job in how they assess the business through key performance indicators (KPIs),” said Teater.

“I knew my numbers before I went into FYZICAL, but I know them a lot better after being a part of FYZICAL,” he said. “They helped build a business background and fill in those knowledge gaps.”

FYZICAL’s robust framework and comprehensive business models gave them the structure and insights needed to drive growth effectively, combining cutting-edge healthcare with strategic business strategies, like the Partnership Advantage Program, matching motivated entrepreneurs with licensed physical therapists to build, grow, and scale clinics together.

FYZICAL’s unique support system and expansive network of over 600 locations offers a strong foundation of collaboration and guidance.

“People at FYZICAL become your brain trust team,” Teater said. “They provide an excellent platform for entrepreneurs and private practice physical therapists to unite under one brand, share ideas, support each other, and advance their service offerings to their respective communities.”

“If I were still by myself, I wouldn’t be in the position I’m in right now.”

Teater is confident that FYZICAL’s role in his future expansion plans will be pivotal in driving continued expansion.

“We have a 20-location development agreement, so we plan to grow. We could go to 20, 30, and beyond.”

Cook shares this optimism, recognizing that FYZICAL’s proven systems, extensive support network, and demand for physical therapy services position them to excel in a soaring industry with a top-notch franchise.

“FYZICAL has a tremendous amount of white space, including new builds and conversions and a compelling operating structure that ensures franchisee success,” he said.

“The franchisor has been fantastic to work with, and I believe they will continue to grow at a pace that their competitors will have a difficult time matching.”

For Teater, it’s about growing the business and making a real, positive impact on the people in the communities his team serves. “I believe in FYZICAL,” he said. I love the Balance and Vestibular Program and the people within the organization,” he added.

“We’re on a mission to help our people recover from injury, prevent falls, alleviate pain and dizziness, and beyond all, help you Love Your Life,” he said.

His reasoning is simple.

“When you’re armed with the knowledge and power of getting people to where they want to be, to connect the dots and create those success stories, it’s very rewarding.”

“People are very grateful for the care we provide and the results we deliver.”

REFERENCES:

1 United States Census Bureau. “By 2030, All Baby Boomers Will Be Age 65 or Older.” The United States Census Bureau, 10 Dec. 2019, www.census.gov/library/stories/2019/12/by-2030-all-baby-boomers-will-be-age-65-or-older.html.

2 “Products - Data Briefs - Number 439 - August 2022.” National Center for Health Statistics, 2024, www.cdc.gov/nchs/products/databriefs/db439.htm#:~:text=The%20aim%20of%20physical%2C%20speech.

3 “Older Adult Falls Data.” Older Adult Fall Prevention, 9 May 2024, www.cdc.gov/falls/data-research/index.html.

4 U.S. Bureau Of Labor Statistics. “Physical Therapists: Occupational Outlook Handbook: U.S. Bureau of Labor Statistics.” Bls.gov, 12 Apr. 2019, www.bls.gov/ooh/healthcare/physical-therapists.htm#tab-6.

5 United States Census Bureau. “By 2030, All Baby Boomers Will Be Age 65 or Older.” The United States Census Bureau, 10 Dec. 2019, www.census.gov/library/stories/2019/12/by-2030-all-baby-boomers-will-be-age-65-or-older.html.

6 “News | Landmark APTA Report Makes the Case for Physical Therapy’s Economic Value.” APTA, 27 Sept. 2023, www.apta.org/news/2023/09/27/value-of-pt-report-released.

7 “U.S. Occupational & Physical Therapy Services Market Report.” Www.fortunebusinessinsights.com, www.fortunebusinessinsights.com/u-s-occupational-physical-therapy-services-market-106420.

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