Onward Physical Therapy
Onward Physical Therapy offers comprehensive physical therapy services through franchised businesses operated by doctoral-trained therapists. Known for high-quality care, it operates in the physical therapy sector.
Onward Physical Therapy franchise FAQ
How much does it cost to open one — the total initial investment?
The total initial investment necessary to begin operation of a standard Onward Physical Therapy franchised business is between $36,700 and $146,500. This includes $0 that must be paid to the franchisor or its affiliate(s) [p.1]. For a conversion Onward Physical Therapy franchise, the total initial investment is between $15,500 and $90,500 under similar conditions [p.1].
What is the initial franchise fee?
This isn't specified in the excerpts.
What are the ongoing royalty and advertising fees?
The franchisee must pay a royalty fee equal to 10% of Gross Sales, capped at $50,000 per calendar year ([p.76]). Additionally, you will participate in advertising and sales promotion programs as specified by the company, which may require offering products or services at discounted rates or no charge ([p.82]).
How long is the initial franchise agreement, and can I renew it?
The initial term of the franchise agreement is ten years [p.73]. You may be able to enter into successor franchise agreements for five-year terms each, provided you comply with the conditions for renewal specified in the agreement [p.73].
Can I sell or transfer my franchise, and what does that require?
The franchise agreement permits the franchisor to refuse a transfer of ownership except for good cause [p.5]. A transfer must comply with applicable laws and any conditions reasonably required by the franchisor [p.90]. This includes obtaining consent from the franchisor if you wish to sell or transfer your franchise [p.173].
On what grounds can the franchisor terminate the agreement?
This isn't specified in the excerpts.
What financial requirements — net worth and liquid capital — do I need to qualify?
This isn't specified in the excerpts.
Do I get an exclusive or protected territory?
Yes, you receive an exclusive territory where the franchisor will not establish or franchise others to operate a Franchised Business within it [p.71]. However, this exclusivity is subject to certain conditions and exceptions as detailed in the FDD excerpts, such as compliance with the Area Development Agreement and adherence to extra-territorial policies [p.36, p.72].
What training and ongoing support does the franchisor provide?
The franchisor provides initial training at their training center in Charlotte, North Carolina, or another designated location, as well as virtually. This training is provided at no charge for all franchisee owners. Additionally, the franchisor requires that all franchisee owners complete specific clinical training through the Institute of Clinical Excellence, though waivers may be granted based on recent training or significant professional experience. For ongoing support, the FDD does not specify further details beyond the initial training and potential future proprietary software licensing agreements. [p.20, p.32, p.79, p.87]
How many franchised outlets are there, and how many have closed or been terminated?
This isn't specified in the excerpts. The provided FDD excerpts do not include information about the total number of franchised outlets or any that have closed or been terminated.
Does the franchisor share any financial performance or earnings information?
The franchisor may provide actual records of an existing outlet if you are purchasing one, but they do not make any representations about a franchisee's future financial performance or past performance of company-owned or franchised outlets outside of what is included in Item 19 of the FDD. [p.46]
What am I restricted to selling, and where must I buy supplies?
You are restricted to selling only the approved Clinic products and services as specified by Onward Physical Therapy [p.39]. You must purchase or lease all required items from designated suppliers, including potentially more expensive options chosen by the franchisor [p.3, p.25, p.84].