If you’re a mental health provider, or an aspiring business owner, looking into a mental health franchise, there are a number of things to consider before taking the plunge. Buying a franchise can be an exciting, but also a complex, investment.
For example, the scope of services your franchise will offer are detailed in a rather large document called the FDD (Franchise Disclosure Document), which outlines everything about your franchise investment in plain english. You will receive this FDD at some point during the time when you begin talking with with people at Thriveworks about your practice goals and express interest in owning a Thriveworks mental health practice.
For your convenience, here is the basic overview and scope of a Thriveworks Mental Health Franchise:
“The Franchise offered is for the operation of a therapy center that offers counseling and mental health services as a comprehensive solution for people of all ages to help improve their happiness, relationships and overall life success. Each center will specialize in providing professional counseling and mental health services and up-to-date treatment techniques through licensed mental health professionals. This is a client-centric counseling and life coaching business dedicated to empowering clients to get to the next level of their personal and professional lives, under the name “Thriveworks®”.
Cost is another important factor in purchasing a mental health franchise.
Costs to consider include both the initial franchise fee, as well as the cost of starting a practice (the costs below include the costs of recruiting and paying a team and operating a practice for the first 3 months). Note: Thriveworks start up fees are exceptionally low and our franchise fees are the lowest in the industry.
“The Initial Franchise Fee is $5,000 to convert an existing practice into a Thriveworks® center (“Conversion Model”) or $10,000 for a new startup center (“Standard Model”) with exclusive rights to operate in a specific area as defined by us. Additional franchises will be available for a reduced fee of $5,000 per Franchise. The total investment necessary to begin operation of a Thriveworks® Franchise ranges from $11,700 to $26,200 for a Conversion Model and from $26,100 to $67,200 for a Standard Model which will depend on a number of factors that are fully discussed in Item 7 of our FDD. This includes the Initial Franchise Fee of $5,000 for a Conversion Model or $10,000 for a Standard Model (as discussed in Item 5) that must be paid to Thriveworks Franchising LLC or an affiliate.”
Buying a franchise is a complex investment.
The information in the FDD (disclosure document) can help you make up your mind about whether owning a franchise is right for you. In addition, more information on franchising, such as “A Consumer’s Guide to Buying a Franchise,” can can help you learn more and is available from the Federal Trade Commission. You can contact the FTC at 1-877-FTC-HELP or by writing to the FTC at 600 Pennsylvania Avenue, NW, Washington, D.C. 20580. You can also visit the FTC’s home page at WWW.FTC.GOV for additional information. Call your state agency or visit your public library for other sources of information on franchising.
For more information on owning a Thriveworks Mental Health Franchise, Contact us at 1-855-4-THRIVE, or learn more at Thriveworks.com/counseling-franchise