Buying a healthcare franchise is a very good investment decision. In recent times, franchises in the urgent care and home health spaces have been earning enormous traction – and revenue – across the country. But purchasing a franchise is not a business decision to take lightly. Making the best return on a franchise investment requires a great deal of foresight and planning that you shouldn’t overlook.
In your training to become a doctor or a nurse, the skills you acquired are invaluable when it comes to saving lives and providing important patient care. However, when you become the owner of your practice, you have to be both the doctor and the business owner, which requires different set of skills. Things like bookkeeping, management, and marketing are all the responsibilities of the owner.
If you decide to own an urgent care franchise, as opposed to starting a practice on your own, you get two major benefits. First, franchisees undergo comprehensive training to make sure they are equipped to handle all the roles of the owner. This training is expected to teach you these important business skills and empower you to combine them with your experience as a doctor to build a strong business.
In addition, franchises come prepared with a variety of tools and resources that you can leverage to make your job easier. Note that these can include relationships with insurance companies or medical suppliers, proprietary software to manage patients, ongoing professional development, and more. These are primary advantages that help you navigate the waters of business ownership with an experienced partner.
In the United States, reports have it that people who own their own businesses tend to be more satisfied, and this is certainly true for physicians. If you own an urgent care franchise, you are tasked with making decisions that directly impact your patients’ care.
You are in charge of the doctors and nurses you work with. You can build a respected practice that provides important care to your community, helping patients in need. If you are not so sure that you want to work for someone else, you should start looking into acquiring a franchise right now. Here are some of the urgent care franchise opportunities to consider in the United States.
6 Best Urgent Care Franchise Opportunities and Their Cost
1. Advance Urgent Care
This company offers cost effective and best quality urgent care franchise opportunities across the Unites States of America. Their vision is to remain the leader in providing comprehensive urgent care startup and management services to ensure nothing but success for their clients.
The company has continued to seek and develop cutting edge urgent care business strategies to maximize profits for its clients without compromising the quality of health care delivered by their urgent care centres.
Financial Requirements
- Initial franchise fee: $20,000
- Royalty fee: $1000.00 per month
2. American Family Care
This is a network of family care and urgent care clinics designed, equipped and staffed to provide accessible primary care, minor emergency treatment, and occupational medicine. The company was founded in 1982 and is based in Birmingham, Alabama, and as of 2018, the company operates 130 franchises in the United States.
Financial Requirements
- Initial Investment: $125,750 – $1,254,500
- Net-worth Requirement $1,200,000
- Liquid Cash Requirement $5560,00
- Initial Franchise Fee $41,250 – $60,000
- Ongoing Royalty Fee 6%
- Ad Royalty Fee 1%
3. OrthoNOW
OrthoNow changes the way orthopaedic care is delivered to the community while offering a ground breaking way to help improve the lives of patients. As a franchisee, you enjoy the privilege of experiencing the success currently enjoyed by OrthoNOW franchise owners. The OrthoNOW medical franchise training and support team is dedicated to helping franchise owners thrive by offering all the tools and resources needed to grow and manage their business.
Financial Requirements
- Initial Investment: $492,735
- Liquid Cash Requirement: $65,000
4. Paramount Urgent Care
Acquiring a Paramount Urgent Care practice provides you an opportunity to partner with a leader in the highly competitive urgent care medical industry. Paramount Urgent Care success is evident, as revenues have consistently grown over the years. The company boasts of focusing their practice on profitable, quality and compassionate patient care.
The management have geared the company to provide franchise owners with the knowledge, support, and training necessary to effectively meet and surpass expectations. A background in healthcare is not a requirement to own a Paramount Urgent Care franchise
Financial Requirements
- Initial Investments: $223,300 – $438,100
- Initial Franchise fee: $34,000
- Royalty fee: 6%
5. Doctor Express
Established in 2005 by an emergency physician seeking a more efficient, accessible and affordable system for patients in need of urgent care, Doctors Express has been sweeping its way across the country as America’s first nationally branded urgent care centre.
All Doctor Express centres are conveniently located, open seven days a week with extended hours and have doctors on site at all times providing high quality treatment for acute illness and injuries. All x-ray, laboratory, and prescription dispensing facilities are all in-house. They also offer local employers such occupational health services as pre-placement physicals, drug screening, and treatment of work-related injuries.
Financial Requirements
- Liquid cash requirement:$200,000
- Net Worth requirement:$1,000,000
- Total Investment:$664,000 – $903,000
6. Your Kid’s Urgent Care
Through a specific qualification process, the Your Kid’s Urgent Care management team has brought together outside vendors that, together, can present franchisees with the complete solution to starting a medical centre. The Your Kid’s Urgent Care franchise presents an attractive investment opportunity for the franchise buyer with enormous profitability and revenue potential.
Owning your own Your Kid’s Urgent Care franchise provides flexibility in your work schedule, being your own boss, and a chance to help countless children and families.
Financial Requirements
- Total Investment: $173,525 – $338,317
- Liquid cash requirement: $100,000
Business success in this sector is borne from offering a genuine solution to an existing issue. To do that, just make sure that your business offers services that will truly benefit the patients you want walking through your doors. The right franchise can prove financially beneficial to you while improving the healthcare atmosphere for your community.