Clinical franchise finance
By type of business.
- Clinics and medical services 8 brandsAFC Urgent Care · ChiroWay · FYZICAL · HealthSource Chiropractic · MaxLiving · Medi-Weightloss · Onward Physical Therapy · QC Kinetix
- Lab testing 2 brandsAny Lab Test Now · ARCpoint Labs
- Med spa and aesthetics 2 brandsCastle Rock Hormone Health · The DRIPBaR
- Dental 1 brandClear Lakes Dental
Every brand in this guide
Find a clinical brand
This guide covers thirteen brands, each from its own 2026 FDD. Open one, or pick two and compare them.
Top performers
Top performers at clinical brands
Across the clinical brands that publish both figures, the median top group of locations sells $1,910,546 a year and the median bottom group sells $403,114. Across these brands, a median of 40% of locations reach their own brand’s average.
Decided before you open
- Opening cost against sales.The top group sells $1,910,546 a year against a build that tops out at $1,872,200, so at the heavy end of the range a location sells $1.02 for every dollar it cost to open.
- Rent as a share of sales.Occupancy runs 6.8% of sales at the middle brand, which on median sales of $908,947 is $61,990 of rent a year. That same $61,990 is 3.2% of sales at the top group and 15.4% at the bottom.
Live operating levers
- Four of the thirteen brands here can widen what they sell without widening the building.
Business model attribute
- Service
- Retail or higher service tiers
- Unit economics
- Sales per room per hour
- Four of the thirteen brands here sell a visit at a time.
Business model attribute
- Service
- Single visits
- Unit economics
- Visits times the revenue for each visit
- Two of the thirteen brands here publish how a new location builds up.
Business model attribute
- Service
- The FDD’s month-by-month build-up of a new location
- Unit economics
- Months until sales cover costs
- Two of the thirteen brands here run a recurring plan.
Business model attribute
- Service
- Recurring plans and booked return visits
- Unit economics
- Customers on a plan times visits a month
- Wages by brand.Wages run 31.6% of sales at the middle brand and 22.1% to 31.9% across the three that disclose it. On the top group’s $1,910,546 of sales, one point of wages is $19,105 a year; on the bottom group’s $403,114 it is $4,031.
- Cost of goods by brand.Products and materials take 25.0% of sales at the middle brand, 10.2% to 50.3% across the four that disclose it.
- Profit margin.Of the four brands that publish a profit line, the middle one keeps 20.8% of sales, from 15.7% to 23.1%. At a 20.8% margin, the top group earns $398,062 a year and the bottom group $83,989.
- Fees as a share of sales.Fees run a median 9.0% of sales across eleven brands, from 3.0% to 13.2%. Where a minimum applies, lower-selling locations pay a higher effective rate. At $1,910,546 the fees cost $171,949 a year; at $403,114 they cost $36,280.
Context you underwrite around
- First-year build-up.Two of thirteen filings in this category show how a new location builds up. The others do not show it.
- Brands without sales bands.Three brands publish an average with no sales bands, and two publish no average.
The model
The business model at clinical brands
What the brands sell
Four of the thirteen brands here can widen what they sell without widening the building. Four of the thirteen brands here sell a visit at a time. Two of the thirteen brands here publish how a new location builds up. Two of the thirteen brands here run a recurring plan. Wages run 31.6% of sales at the middle brand.
Sales per location
A location at the middle brand sells $908,947 a year. The top group of locations sells $1,910,546 a year and the lowest group sells $403,114, across the eight brands that publish sales bands.
Reaching the average
A median 40% of locations reach their own brand’s average. The top group sells $1,910,546 against $403,114 at the bottom.
Costs and margin
Opening costs $36,700 to $1,872,200 across the category, and inside one brand the top of the range is typically 1.9 times the bottom. At the middle brand the cost stack runs wages 31.6%, occupancy 6.8%, cost of sales 25.0%, franchise fees 9.0% of sales. What is left runs 20.8% at the middle brand, which is $398,062 a year at the top group and $83,989 at the bottom. Two of these brands publish how a new location builds up.
The median brand here reports average revenue of $908,947 a unit. Percentage fees at the median brand come to 9% of sales. The median cost to open runs $207,390 to $481,536.
Clinical franchises at a glance
- Averan Franchise compares thirteen clinical franchise brands, each from its own 2026 FDD.
- The cost to open a clinical franchise runs from $36,700 at Onward Physical Therapy to $1,872,200 at Clear Lakes Dental.
- Clear Lakes Dental reports the highest average sales of these brands, at $4,043,979, and ARCpoint Labs the lowest, at $266,754.
- Franchise fees take 2.97% to 13.25% of sales across the eleven brands where Averan Franchise works out the figure.
These figures come from each brand's 2026 Franchise Disclosure Document, as the brand reported them, and were read by Averan Advisors.
The figures
The figures, brand by brand
| Measure | Median | Brands | Basis |
|---|---|---|---|
| Average sales per unit | $908,947 | 11 of 13 | Median of each brand’s disclosed average |
| Median sales per unit | $767,726 | 8 of 13 | Median of each brand’s disclosed median |
| Initial franchise fee | $55,000 | 13 of 13 | |
| Royalty | 7% | 12 of 13 | Headline rate |
| Brand or advertising fund | 2% | 11 of 13 | |
| Fees paid to the brand | 9% | 11 of 13 | Royalty, brand fund and other fees paid to the brand or its affiliates, as a share of average sales |
| Cost to open, low | $207,390 | 13 of 13 | |
| Cost to open, high | $481,536 | 13 of 13 | |
| Profit margin | 20.8% | 4 of 13 | Each brand’s own profit line; definitions differ |
| Labor, share of revenue | 31.6% | 3 of 13 | |
| Building costs, share of revenue | 6.8% | 3 of 13 | |
| Unit growth over each FDD’s Item 20 period (2025, or 2023 to 2025) | 11.1% | 12 of 13 | (End − start) ÷ start |
| Customers lost over each FDD’s Item 20 period (2025, or 2023 to 2025) | 10.6% | 11 of 13 | Terminated, non-renewed, reacquired and ceased, ÷ opening units; transfers excluded |
Each figure is the median of the brands that disclose it, and the Brands column counts them.
How we calculated this
Revenue is each brand's own reported figure on its own unit basis, so the median describes the group and no single brand. Growth and customers lost are our calculations from each brand's outlet table. Where fewer than three brands disclose a figure, no benchmark is shown.
All 13 brands
All 13 brands, side by side
| Brand | What it does | Units reporting | Average revenue | Median | Franchise fees * | Cost to open |
|---|---|---|---|---|---|---|
| Clear Lakes Dental | Dental practice | 7 | $4,043,979 | $3,588,289 | 13.25% | $557,300–$1,872,200 |
| AFC Urgent Care | Urgent and accessible primary care centre | 291 | $1,867,756 | $1,699,854 | 8.49% | $948,250–$1,514,000 |
| Castle Rock Hormone Health | Anti-aging and hormone therapy clinic | 2 | $1,818,515 | $1,818,515 | 9% | $295,999–$460,000 |
| Medi-Weightloss | Physician-supervised weight-loss clinic | 56 | $1,073,665 | $857,443 | 11% | $257,750–$490,860 |
| QC Kinetix | Non-surgical regenerative pain treatment clinic | 39 | $924,273 | n/a | 10% | $250,100–$494,600 |
| MaxLiving | Chiropractic and holistic care clinics | 77 | $908,947 | $678,008 | 2.97% | $207,390–$537,000 |
| The DRIPBaR | Intravenous vitamin therapy lounge | 13 | $791,227 | n/a | 9% | $168,825–$399,500 |
| HealthSource Chiropractic | Chiropractic and physical therapy clinic | 107 | $609,587 | $515,779 | 9% | $435,932–$635,078 |
| FYZICAL | Physical Therapy & Balance | 286 | $522,212 | $398,320 | 6.89% | $125,392–$481,536 |
| Any Lab Test Now | Direct-access lab testing retail | 213 | $321,341 | $278,174 | 10.31% | $183,400–$318,400 |
| ARCpoint Labs | Employer drug, alcohol and DNA testing | 83 | $266,754 | n/a | 11.14% | $165,700–$310,420 |
| ChiroWay | Subscription Chiropractic | 0 | n/a | n/a | n/a | $113,350–$170,200 |
| Onward Physical Therapy | Physical Therapy & Balance | n/a | n/a | n/a | n/a | $36,700–$146,500 |
Revenue, medians, unit counts and investment ranges are as the brand reported it by each brand; Franchise fees column is marked *.
Eleven of the thirteen brands publish an average. Clear Lakes Dental reports the highest average, $4,043,979, and ARCpoint Labs the lowest, $266,754. The highest is 15.2 times the lowest *.
Operating levers
What each brand’s top performers actually work on
These are the levers each brand's filing supports. Each brand has two to five, read from its own 2026 FDD. Filter by type of business, or open a brand for the figures underneath.
13 brands
AFC Urgent Care
Clinics and medical services
- Products and materials. Products and materials take 50.3% of sales, against 15.7% kept at the end. The levers are buying terms, price discipline and waste.
- Visits. Track how many visits happen, what each one is worth, and how many customers book the next one before they leave.
- Fees and the minimum. Fees run about 8.5% of sales. A minimum fee also applies, so lower-selling locations pay a higher effective rate. Work out the sales level where the percentage overtakes the minimum.
- Cash needed in the first year. This filing shows how a new location builds up: the month sales cover costs, and how much cash you fund before then.
Any Lab Test Now
Lab testing
- Fees and the minimum. Fees run about 10.3% of sales. A minimum fee also applies, so lower-selling locations pay a higher effective rate. Work out the sales level where the percentage overtakes the minimum.
- Service and retail mix. Retail sales and the share of customers on higher service tiers raise revenue per hour without adding hours or rooms.
- Sales depend on customers. The owner works on how many customers are won, how many are lost, and what each spends in a year.
ARCpoint Labs
Lab testing
- Fees and the minimum. Fees run about 11.1% of sales. A minimum fee also applies, so lower-selling locations pay a higher effective rate. Work out the sales level where the percentage overtakes the minimum.
- Accounts. Accounts bill year after year. Track how many you keep as well as how many you win.
Castle Rock Hormone Health
Med spa and aesthetics
- Fees and the minimum. Fees run about 9.0% of sales. A minimum fee also applies, so lower-selling locations pay a higher effective rate. Work out the sales level where the percentage overtakes the minimum.
- Memberships and rebooking. A recurring plan turns appointments into a monthly subscription and keeps the schedule fuller. Rebooking before the customer leaves keeps it full.
- Wages. Wages take 31.9% of sales, against 22.6% kept at the end. The levers are staff productivity, scheduling against demand hour by hour, and the balance of base pay to commission.
- Products and materials. Products and materials take 23.4% of sales. The levers are buying terms, price discipline and waste.
ChiroWay
Clinics and medical services
- Routes. Each van costs the same per day. Track stops per van and the distance between them.
- Service and retail mix. Retail sales and the share of customers on higher service tiers raise revenue per hour without adding hours or rooms.
- Fees and the minimum. A minimum fee applies, so lower-selling locations pay a higher effective rate. Work out the sales level where the percentage overtakes the minimum.
Clear Lakes Dental
Dental
- Fees and the minimum. Fees run about 13.2% of sales. A minimum fee also applies, so lower-selling locations pay a higher effective rate. Work out the sales level where the percentage overtakes the minimum.
- Sales depend on patient visits. The clinic is open set hours, so the owner works on how many visits fit into them and what each visit collects.
FYZICAL
Clinics and medical services
- Fees and the minimum. Fees run about 6.9% of sales. A minimum fee also applies, so lower-selling locations pay a higher effective rate. Work out the sales level where the percentage overtakes the minimum.
- Sales depend on patient visits. The clinic is open set hours, so the owner works on how many visits fit into them and what each visit collects.
HealthSource Chiropractic
Clinics and medical services
- Wages. Wages take 31.6% of sales. The levers are staff productivity, scheduling against demand hour by hour, and the balance of base pay to commission.
- Occupancy cost. Rent and building costs take 10.2% of sales here. The rent is fixed when the lease is signed, so this share falls only as sales per square foot rise.
- Visits. Track how many visits happen, what each one is worth, and how many customers book the next one before they leave.
- Memberships and rebooking. A recurring plan turns appointments into a monthly subscription and keeps the schedule fuller. Rebooking before the customer leaves keeps it full.
- Fees and the minimum. Fees run about 9.0% of sales. A minimum fee also applies, so lower-selling locations pay a higher effective rate. Work out the sales level where the percentage overtakes the minimum.
MaxLiving
Clinics and medical services
- Visits. Track how many visits happen, what each one is worth, and how many customers book the next one before they leave.
- Fees and the minimum. Fees run about 3.0% of sales. A minimum fee also applies, so lower-selling locations pay a higher effective rate. Work out the sales level where the percentage overtakes the minimum.
Medi-Weightloss
Clinics and medical services
- Sales depend on patient visits. The clinic is open set hours, so the owner works on how many visits fit into them and what each visit collects.
- Service and retail mix. Retail sales and the share of customers on higher service tiers raise revenue per hour without adding hours or rooms.
- Fees and the minimum. Fees run about 11.0% of sales. A minimum fee also applies, so lower-selling locations pay a higher effective rate. Work out the sales level where the percentage overtakes the minimum.
- Cash needed in the first year. This filing shows how a new location builds up: the month sales cover costs, and how much cash you fund before then.
Onward Physical Therapy
Clinics and medical services
- Fees and the minimum. The brand’s charges are set dollar amounts, so they take a larger share of sales at lower-selling locations.
- Sales depend on patient visits. The clinic is open set hours, so the owner works on how many visits fit into them and what each visit collects.
QC Kinetix
Clinics and medical services
- Wages. Wages take 22.1% of sales, against 19.1% kept at the end. The levers are staff productivity, scheduling against demand hour by hour, and the balance of base pay to commission.
- Occupancy cost. Rent and building costs take 6.8% of sales here. The rent is fixed when the lease is signed, so this share falls only as sales per square foot rise.
- Visits. Track how many visits happen, what each one is worth, and how many customers book the next one before they leave.
- Fees and the minimum. Fees run about 10.0% of sales. A minimum fee also applies, so lower-selling locations pay a higher effective rate. Work out the sales level where the percentage overtakes the minimum.
The DRIPBaR
Med spa and aesthetics
- Products and materials. Products and materials take 26.6% of sales, against 23.1% kept at the end. The levers are buying terms, price discipline and waste.
- Membership drives the model. Track how many members join, how many cancel, and what each member spends beyond the plan.
- Gift cards. Gift cards are sold before the service is delivered, and sales peak around the holidays. A gift card is deferred revenue until it is redeemed, so cash and earned revenue arrive in different periods.
- Service and retail mix. Retail sales and the share of customers on higher service tiers raise revenue per hour without adding hours or rooms.
- Fees and the minimum. Fees run about 9.0% of sales. A minimum fee also applies, so lower-selling locations pay a higher effective rate. Work out the sales level where the percentage overtakes the minimum.
All 13 brands
Every brand, with its breakdown.
Clinics and medical services
- AFC Urgent Care Revenue octiles for franchisees, a full profit line for the affiliate-run centers, and a break-even
- ChiroWay No financial performance representation
- FYZICAL 489 locations · Franchisee-owned and affiliate-owned averages reported separately
- HealthSource Chiropractic Revenue by group · Patient value, visits multiplied by revenue per visit, accounts for the entire revenue range
- MaxLiving Gross sales and average weekly patient visits published for the same clinics in the same two years
- Medi-Weightloss Full P&L · Gross profit flat across all three thirds, so the whole range sits below the line
- Onward Physical Therapy 48 locations · Royalty capped at a fixed annual amount
- QC Kinetix Full P&L · Advertising is the largest line in the business, so the media budget is the operating lever
Lab testing
- Any Lab Test Now 247 locations · Per-test gross margin
- ARCpoint Labs 118 locations · Spread across segments
Med spa and aesthetics
- Castle Rock Hormone Health 6 locations · Affiliate clinic profit and loss
- The DRIPBaR Full P&L · Franchise fees filed inside the cost of goods line
Dental
- Clear Lakes Dental 6 locations · Revenue a chair by office
Questions we get asked
Questions owners ask.
What does a clinical franchise cost to open?
Across the thirteen clinical brands in Averan Franchise, the cost to open runs from $36,700 at Onward Physical Therapy to $1,872,200 at Clear Lakes Dental, according to their 2026 FDDs. The median brand's range runs $207,390 to $481,536.
Which clinical brands report the highest average sales?
In their 2026 FDDs, Clear Lakes Dental reports $4,043,979, AFC Urgent Care reports $1,867,756 and Castle Rock Hormone Health reports $1,818,515 a location. Eleven of the thirteen brands publish an average.
How many clinical brands publish a profit line?
Four of the thirteen do: The DRIPBaR at 23.1%, Castle Rock Hormone Health at 22.6%, QC Kinetix at 19.1% and AFC Urgent Care at 15.7% of sales. Each brand defines its own profit line.
Which clinical brands show how a new location builds up?
Two of the thirteen do: AFC Urgent Care and Medi-Weightloss. Their FDDs show the months before sales cover costs.
Which brands does this guide cover?
Clinics and medical services: AFC Urgent Care, ChiroWay, FYZICAL, HealthSource Chiropractic, MaxLiving, Medi-Weightloss, Onward Physical Therapy and QC Kinetix. Lab testing: Any Lab Test Now and ARCpoint Labs. Med spa and aesthetics: Castle Rock Hormone Health and The DRIPBaR. Dental: Clear Lakes Dental.
Run your own numbers.
The Franchise Numbers Check runs the same checks on your own numbers. It scores where you stand and compares you with Item 19 of your brand’s FDD. It works out what one location earns and spends, and builds a 13-week cash forecast. Checks whether you are ready to open another one. It is free and it runs in your browser.
Launch the diagnostic →Where does your unit sit?
We review your unit economics, cash forecast and reporting and compare them with the brands in this guide.
Talk to AveranClinical cost lines as a share of sales
Five of the thirteen clinical brands in Averan Franchise disclose what their locations spend on wages, rent and space, or cost of goods. Each figure is a share of the average location's sales, from the brand's 2026 FDD. Rent and space covers rent and the other costs of the premises.
| Brand | Wages | Rent and space | Cost of goods |
|---|---|---|---|
| AFC Urgent Care | Not disclosed | Not disclosed | 50.3% |
| Castle Rock Hormone Health | 31.9% | 3.4% | 23.4% |
| HealthSource Chiropractic | 31.6% | 10.2% | Not disclosed |
| QC Kinetix | 22.1% | 6.8% | 10.2% |
| The DRIPBaR | Not disclosed | Not disclosed | 26.6% |
Common questions
How much does a clinical franchise cost to open?
Among the thirteen clinical brands in Averan Franchise that publish it, the cost to open runs from $36,700 at Onward Physical Therapy to $1,872,200 at Clear Lakes Dental, according to their 2026 FDDs.
Which clinical franchise costs the least to open?
Onward Physical Therapy has the lowest starting cost of the clinical brands in Averan Franchise, at $36,700 to $146,500.
Which clinical franchise has the highest average sales?
Clear Lakes Dental reports the highest average sales of the clinical brands in Averan Franchise, at $4,043,979 in its 2026 FDD.
What do clinical franchise fees cost as a share of sales?
Across the eleven clinical brands where Averan Franchise works out the figure, franchise fees take 2.97% to 13.25% of sales.
Questions owners ask next
The figures above raise these, and each one is answered on its own page.
- At what level of sales does a minimum fee stop costing me more than the percentage?It works out the sales level where a minimum fee stops applying.
- How much cash do I fund before a new location covers its own costs?It builds a 13-week forecast for the months before break-even.
- My payroll percentage keeps climbing. Is that a payroll problem?It shows how to tell whether payroll is rising or revenue is falling.
- What should I be looking at every week?It lists the handful of numbers that move before the P&L does.
- Do I need a bookkeeper, a controller, or a CFO?It explains what each role owns and when the next hire pays for itself.
Where these figures come from.
Every figure here comes from each named brand’s own 2026 FDD and is unaudited by us, we are unaffiliated with every brand named, each brand reports a different population on different definitions so read every column as a sort order, calculations of our own are marked with an asterisk where they appear, the figures describe past performance at other businesses and are not a projection of yours. This page is an educational summary. It is not an offer to sell a franchise, and it is not financial, legal or tax advice. Every brand name is a trademark of its owner. How Averan reads a Franchise Disclosure Document.