Chiropractic and Franchised Health Clinics Your key to practice prosperity feature W Dr. Amit Sharda is a founder and co-owner of HealthMedica Canada, one of Canada’s fastest growing brands of health-care clinics. To learn more about HealthMedica, visit www.healthmedica.ca or call 1-855-6MEDiCA. ithin the next couple of years, chiropractic franchising in Canada is going to become very common, just as we have seen happen in the United States. To some, it may seem a bit odd to apply the concept of franchising to health care, but to some, it makes eminent sense. There are a vast number of benefits and reasons people may choose to join a franchise, regardless of the industry. Primarily, fran-chising has statistically proven to allow for greater success in business, and this is the desire of any business owner. In fact, studies show that businesses that are part of a franchise are four times more likely to succeed than are independent units. That is a remarkable statistic! Franchising trends in Canada have experienced solid growth trends over the past few decades. Here are some very interesting facts: • Canada is one of the franchise capitals of the world, second only to the U.S. • A Canadian franchise opens every two hours 365 days a year. • Franchising represents more than $100 billion in sales annually and this amount continues to grow. • Franchising employs more than 1.5 million people in Canada. • Approximately 500 of the largest U.S. franchisors have introduced their franchise systems to Canada. • Franchised businesses are four times more likely to succeed than non-franchised businesses. • One-third of all chiropractors fail in their own practice. WHY JOIN A FRANCHISE? The reasoning given by people who are averse to joining a franchise is that they are deterred by the initial cost to join, as well as the ongoing royalties required to continue. They do not see the whole concept of franchising and and do not realize its immense benefits. Franchising is growing across the globe because this business model has permitted an end result of greater profitability to the individual business owner. Some general benefits of being part of a franchise include: www.canadianchiropractor.ca Amit Sharda, DC 34 • CANADiAN CHiROPRACTOR | JUNE 2011
Chiropractic + Naturopathic Doctor June 2011: Page 34
