🍟 10/13/2022 – Korean BBQ For The Win!
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FRANCHISES OF THE WEEK
1) Dae Gee
Fast Facts
Background
- Founded in 2012, franchising since 2021
- Based in Denver; 5+ locations open at the start of 2022
- A korean BBQ restaurant
Fees + Investment
- Royalty: 5.5%
- Brand Fund: 1%
- Franchise Fee: $45,000
- Initial Investment: $380,875 – $954,125
Financial Performance
The Wolf’s Take 🍟
This is the first Korean BBQ franchise I’ve come across, and I’m definitely impressed with the numbers.
The adjusted net profit certainly varies per location, but 3 out of the 5 are performing at a super high level, returning as much as ~60% of the initial investment.
This is a full-service restaurant – so operations may be a little more complex than your typical fast-causal restaurant, but this could be an exciting franchise to watch grow over the next few years!
Resources
2) 100% Chiropractic
Fast Facts
Background
- Founded in 2004, franchising since 2015
- Based in California; 64+ locations open at the start of 2022
- Chiropractic services, massage therapy, nutritional supplements
Fees + Investment
- Royalty: 6.5%
- Brand Fund: $750/month
- Franchise Fee: $50,000
- Initial Investment: $331,124 – $459,600
Financial Performance
The Wolf’s Take 🍟
Would ya look at that – it turns out cracking backs pays pretty well!
Didn’t expect to see such impressive numbers from this brand, but alas.
A few key things to mention:
- There’s a big player in this space already called The Joint – they’re a public company and have 773+ locations nationwide. I’m unsure how 100% Chiropractic differentiates from them, so keep that in mind
- The big question: “can I own this if I’m not a chiropractor?” Well…it depends on what state you live in. 26 states allow non-chiropractors to own chiropractic businesses via what’s known as the MSO-PC model (Management Services Organization – Professional Corporation).
I used to work with a veterinarian franchise that was able to have non-vet owners thanks to the MSO-PC model as well. It’s a common loophole used for expansion of businesses that require licensed professionals.
Anyways, here are the states that allow you to own a chiropractic franchise even if you’re unlicensed:
Alabama, Arkansas, Arizona, Connecticut, Delaware, Georgia, Iowa, Indiana, Idaho, Louisiana, Maine, Missouri, Mississippi, Montana, Nebraska, New Hampshire, New Mexico, Nevada, Ohio, Oklahoma, South Carolina, Texas, Utah, Vermont, Virginia, and Wisconsin.
If you’re a reader in one of those states, 100% Chiropractic could be an interesting business to dive into!
Resources
FROM THE POD
Youth Athletes United
Adam Geisler and John Erlandson co-founded Youth Athletes United so they could align their business goals with social impact.
They both love sports, and they love how sports can be a vehicle to make a positive impact on kids.
That’s led them to acquiring 4 franchisors:
- TGA Sports
- Amazing Athletes
- Super Soccer Stars
- Little Rookies Baseball
It’s an impressive holding company they are building, and one that I am excited to watch grow!
To learn more, check out our conversation on YouTube 👇
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