Health and Wellness Franchises

WHAT FRANCHISES ARE IN THIS AREA: Part of the growing Personal Services category of franchises, health and wellness services include the following types of businesses:

Therapeutic massage studios; medical weight loss centers; clinics/offices for mental health, physical therapy, chiropractic, pain management, and vision and dental care; various urgent care centers; supplements (vitamins, CBD, etc.) stores; hydration bars; salt caves; in-home skilled and non-skilled care; medical and lab testing; adult day care; a wide range of fitness concepts; medical/dental equipment repair; mattress outlets; nutrition and healthy food; and medical spas offering aesthetic services, prescription wellness, anti-aging therapies and/or regenerative medicine such as cryotherapy, red light therapy, LED light therapy, flotation therapy, saunas, skin tightening, botox treatments, ice baths, skincare, hyperbaric sessions, IV drips, vitamin shots and more……??

This is a growing area to which you’ll want to pay attention if making a difference in people’s lives is a high priority for you.

OWNER’S ROLE: Management - oversee operations,?sales, marketing, finances, and personnel. Work “on” the business as opposed to working “in” the business.?

SKILLS REQUIRED: People and business management skills

NOTE: This is a growing area in franchising with many innovative emerging brands. There seem to be two prevalent strategies to this general category:

1. Go wide and offer a range of services like most medical spas do or a range of products like some supplement stores.
2. Be a niche player - specialize in one area and do it better than anyone else. The beauty industry has many examples of this.?For instance, a studio with one service like nails or lash extensions only. In health and wellness, niche players exist in laser treatments, hydration bars, and salt caves, among many others.

UNIQUE CHARACTERISTICS:

?Health and wellness franchises continue to emerge. Most do not require a medical professional such as a doctor as the owner, but some do. Most health and wellness franchises do not require industry experience.?For example, to own a senior care franchise, the owner does not have to have a healthcare background.?To own a fitness center, the owner does not need to be a personal trainer. To own a vitamin store, the owner doesn’t need to be a nutritionist.?

MINIMUM FINANCIAL QUALIFICATIONS:

Services like in-home senior care where no location is needed for customer interaction can be less than $100K as a total investment.??

Retail locations like medical spas and vitamin stores require a minimum of $100K - $150K liquidity of non-financed cash and a net worth of $250K - $300K. Visit the Resources section of Select Franchises' website for comprehensive franchise funding information and companies.

HOT MARKETS: Available territory all across the United States.