Business View Magazine - Nov 2023

166 BUSINESS VIEW MAGAZINE VOLUME 10, ISSUE 11 the physical therapy market, justifying the deployment of their New Franchise Model. This model simply involves opening a brand- new location by itself. Over the years, many of the New Franchise locations that FYZICAL has opened have been started not by physical therapists but by experienced entrepreneurs who have a passion for health and helping others, similar to the brand’s founder - Jim Abrams. However, what makes it so special is that while many other franchises use this exact model at the start of their run, FYZICAL only went this route after it had gained momentum from the success of its Conversion Model, ensuring that all New Franchise clinics suffered little to no setbacks. Wendrych adds further context, saying, “Everybody knows that healthcare is a booming industry… in the next six years, it’s going to become a $92.38 billion dollar industry. So, it’s growing at a healthy 8.2% rate per year.” focus after becoming a franchise. “[We would] go out and convert existing privately owned physical therapy practices… have them become franchisees, convert their locations over to FYZICAL, put the FYZICAL [logo] up, and rebrand,” Wendrych explains. This practice not only benefited the company but also helped new franchisees, as most private practices were owned by physical therapists who possessed a ton of clinical experience but needed more experience running a business. The Conversion Model presented a win- win scenario that allowed an expansion of both the brand and the individual therapist’s entrepreneurial skillset. In this way, they not only grew but also found a way to softly begin centralizing a lot of the mostly scattered specialized care in the physical therapy industry. It was a smart move, as it gave FYZICAL the authority and opportunity to begin attracting the interest of new players to