Start with your time and money, then the business model, and only then the brand. Wellness covers very different models, from lean operations to medical clinics with large staffs, real estate and regulations. If you are drawn to wellness, decide what role you want and what investment level fits before you compare a single brand.
Lisa Welko is a franchise consultant and a wellness franchise owner, so she sees this category from both sides. She walks through the four things to weigh, in order, before you fall for a brand.
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What's covered
0:43 The four things: time, money, model, brand
0:51 Deciding what role you want to play
1:50 Why the franchise fee is a small piece
2:56 Comparing wellness models before comparing brands
Why shouldn't I start with the brand?
Wellness is hot, and that is exactly why buyers jump straight to brands. The problem is that two concepts can look equally exciting to a customer and ask completely different things of the owner.
One model runs lean. Another needs a large staff, a physical location, long operating hours and a lot of oversight. Lisa sees this as both a franchise consultant and a franchise owner in the wellness space. Her advice is the same from either side: decide what role you want before you look at logos.
“The hottest franchise in the world doesn’t matter if it’s a terrible fit for you.” Lisa Welko
What does a wellness franchise really cost?
Wellness opportunities range widely in investment, and some approach or exceed a million dollars all in. Neither end is automatically better. The real question is whether you have enough personal breathing room while the business ramps up.
How are wellness franchise models different?
Each model has different customers, staffing needs, margins, regulations, real estate and equipment. Medical models also raise corporate practice of medicine questions you will want to discuss with the franchisor. That is why Lisa compares business models first. Once your time, money, goals, strengths and location are clear, the brand conversation gets shorter and smarter.
Not sure whether this applies to you?
That’s the kind of thing a 15 minute call sorts out quickly. No cost, no pitch.
Who this is for
This is for experienced professionals and investors who are drawn to wellness and want to choose with clear eyes. It helps most if you are still deciding whether to run the business yourself or keep your career while a manager handles the day to day. It is not for someone who only wants a list of the trendiest brands.
Questions people ask
What should I look at first when choosing a wellness franchise?
Start with your time. Decide whether you want to work in the business every day, manage employees, or keep your career while a manager runs daily operations. Then look at your total investment and the business model. The brand comes last.
