🍟 4/4/2022 – A Brand New Physical Therapy Franchise


Sun Holdings Double-Dips on Papa John’s

The Scoop

Papa John’s announced it is “re-franchising” aka passing corporate ownership to a franchisee, of a 90-location collection of restaurants in the Dallas area.

The 90 locations are majority owned by Papa John’s, with the rest of the equity owned by Dallas Cowboys owner Jerry Jones.

On Thursday it was announced that Sun Holdings, who owns 1,400+ franchises of a variety of brands, was the buyer.

The Wolf’s Take 🍟

Sun Holdings, led by Guillermo Perales, continues to impress. Founded in just 1997, the holding company collectively owns almost 1,500 locations of other famous brands like IHOP, Burger King, Popeyes, Arby’s, Applebee’s, and more.

When it comes to Papa Johns, Guillermo and his team already made a splash by announcing they were developing 100+ locations by 2029.

To now acquire 90 locations in one swoop shows the aggressiveness that has led to Guillermo’s success over the years, as well as his bullishness on Papa John’s as a franchise.

“We want Papa John’s to be one of our major brands. I really like the unit economics and what the brand has done to position itself against the other brands. I think with that we should be able to be the largest franchisee in the system”

The acquisition was also indicative of Guillermo’s strategy for development. When you own the rights to a territory, you can decide to build more locations as you see fit!

In Texas, you have so many franchisees you get stuck by the right of first refusal, but when you have the market, you can decide wherever you want to go

Keep on crushing it King Guillermo 👑.

More Headlines

Shaq Opens Up About His Big Chicken Experiment 🐔
A lot of thought has gone into the menu of the franchise Shaq is cofounding

Focus Brands Finds Strength in Non-Traditional Expansion 🥨
The brand has 270+ non-traditional units in their development pipeline



  • Founded: 1967
  • Units Open: 2,815
  • Investment Range: $10,000 
  • Average Revenue per Location: $5.05 million!

Did you know?

Because of it’s low barrier to entry, Chick-Fil-A receives 60,000+ applicants annually. Of the 60k, they only accept ~0.13%, making it a more competitive application process than getting into Harvard, Stamford, or even the Secret Service!


Competitive Edge Physical Therapy

Fast Facts


  • Founded in 2015, franchising since 2022
  • Based in San Jose; 1 location open
  • A physical therapy brand that helps athletes and active individuals overcome injury, optimize their movement, and enhance their performance 

Fees + Investment

  • Royalty: 10%
  • Brand Fund: 1%
  • Franchise Fee: $35,000
  • Initial Investment: $224,125 – $376,925

Financial Performance

  • The below information is based on the affiliate outlet that first opened in 2015

The Wolf’s Take 🍟

When I first stumbled on Competitive Edge Physical Therapy, I was excited for 2 reasons:

  1. I’ve yet to cover a PT franchise
  2. Competitive Edge specifically targets athletes and active individuals

The first reason speaks for itself, while the second has a little more nuance…

Physical Therapy Franchises

Physical Therapy is an area of franchises with no massive brand in it. When you look at other industries that require a licensed professional, there’s typically a few franchises with large market share.

We’ve seen this occur in chiropractic care (The Joint), massage therapy (Elements), optometry (Pearl Vision), human primary care (AFC), etc. But for some reason, PT has yet to be conquered. 

The biggest player by far is Fyzical Therapy & Balance Centers, which offers a similar initial investment range, and has 400+ locations open already.

The difference is they appear to target the aging population with PT services that rehabilitate injuries, or provide preventative exercises.

Competitive Edge

As a former athlete, I believe there’s room for a brand (or two) to be nationally known as the physical therapy home for athletes and active individuals. 

Competitive Edge is very early in their journey, as they just registered to begin franchising in Q1 of this year!

But their numbers are great (close to $1 million in revenue last year), and they make it clear who their core customer is. While there will certainly be local competition in each market they enter into, a brand that can follow in the footsteps of adjacent brands like The Joint, have a chance to develop into a multi-hundred unit system!


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