The ReNew Concierge PT Franchise Model
The medical system is broken. Be the solution. Start a ReNew PT Franchise Today!
Physical Therapists Are Entering A World Full of Problems No One Will Solve For Us
Renew seeks to fix all those issues in one system.
Therapy Troubles
We have a country and patient population getting subpar treatment in the medical model and the current physical therapy model. Insurance doesn’t reimburse well for quality therapy so taking the quality therapy out of the insurance model is essential.
Striving for Quality and Autonomy
Ultimately, we have a patient need for quality and a DPT need for autonomy, higher pay and fulfillment.
Financial Struggles
The current state of the PT industry is filled with high-volume, low-quality care that adds to burnout for PTs, has minimal growth opportunities and does not pay particularly well.
Challenges in DPT Programs
We also have DPT programs training PTs not to hurt anyone and with minimal skillset to meet the demands of a cash-based model. Manual therapy is not emphasized and exercise-based models are over represented to fit the climate of the standard PT practice model. There is also a lack of opportunity in the residency world as new grads/DPT vets are faced with lower salaries in those areas (50% of market value) while still having student loans > $100,000.
Coaching Program Challenges
There are plenty of coaching programs to help DPTs of all ages start their own practices and help solve the need for higher pay and autonomy yet these coaching programs are simply business oriented. This results in business savvy DPTs but have practices not necessarily offering the type of quality everyone wants and needs. This leads to a struggling business model where the DPTs rely more on skillful sales or offer mediocre results and where patients paying larger cash rates and still not getting the outcomes they are desiring.
The ReNew: Concierge PT Solution
Patients
Renew will offer PT services unparalleled in this country at large scale. All Renew DPTs will be residency trained to meet the demand of the current pain state in America. Patients will be glad to pay out of pocket for the quality they receive for the treatment they need that they couldn’t get anywhere else.
DPTs
Renew will offer DPTs the extensive residency training they need to be successful PTs and live up to the quality they wish to give to their patients. They will also receive extensive leadership/discipleship training as well as business training to run their own practice successfully.
The Problem With The Alternatives
The problem is, although it is simple to start, growing and sustaining that growth is hard, even harder for a cash-based model. The steps above are just an outline and it is quite complicated and tedious to do all that well.
The struggle opening your own clinic right out of school
You are not overly confident in your clinical skillset.
You want to be mentored and become the best DPT you can.
You lack the business training to be successful easily.
There is a lot of risk starting a business (80% fail within 5 years).
The cost to start (without a proven system) is expensive and not guaranteed to work.
If you are confident, you can start a business rather quickly
- Apply for articles of incorporation (get EIN)
- Open a bank account
- Get a payment processor
- Clinical needs: liability insurance, EMR, supplies
- Start treating patients
Why taking a staff PT position is a tough decision
Most PT clinics are insurance-based which means productivity levels are high
-
Usually around 90% which equates to 12-18 patients per 8-hour day
-
Starting salaries are low
-
Growth opportunities are capped because of insurance reimbursement.
-
The burnout rate is high in PT mills
-
Minimal opportunity for advancement in the business
-
Difficulty getting a salary beyond $100,000 a year.
For profit and insurance-based PT practices have less incentive for higher clinical skills.
You lack the business training to be successful easily.
- Patients aren’t really paying for services and don’t know what good care is.
- Lower clinical skills = more PT visits = more revenue for business.
There is typically little to no clinical/personal/leadership development.
Pay less than traditional PT
Why going with another franchise is a tough decision
The average PT franchise will cost on average $250,000 to start
- For example, Fyzical Therapy FDD states $141,750 to $368,000 to start
- The cost includes an upfront $49,000 franchise fee
- Ongoing royalty fee is usually 6-9% for most franchises
- You do get brand recognition (whatever that is worth)
- You get systems, processes etc to run like a typical insurance-based practice
Less risk than on your own, but no guaranteed salary your first year.
You do not get any clinical mentorship, however some offer weekend courses
What Renew Offers
You will get to treat who you want, the way you want without corporate, owners or insurance companies telling you what or how to do things.
A low risk and low-cost option to start your own practice successfully
Faith-based organization
(not required for employment or franchisee)
Renew is built on biblical principles and is unapologetic about it
Foundations are people first, profit second
ReNew’s Vision and Mission – it is bigger than just yourself
This is a movement
Franchise is the wrong word. ReNew is a family of small businesses helping, supporting and praying our way to the top to meet the goals and vision of ReNew
Great Mentorship
Discipleship
Leadership
Clinical residency
Business training
- Weekly business coaching
- Weekly/monthly mastermind calls with other franchise owners
- Strategic intersession meetings
An Exclusive Account with ADP for Payroll Services
Receive a system that works: success has a formula!
You pay half the salary, Renew pays the other half
Brand
Marketing (get your own initial website)
Sales system
Clinical skills
Operations Manual
Including access to all training videos for you and staff
Ongoing coaching
A low risk and low-cost option to start your own practice successfully
When you are ready to start staffing, we train for you
You pay half the salary, Renew pays the other half
We are a family of businesses that split costs of running the business which lowers overall costs for all the shared systems
Fees = Total cost/# employees across the whole franchise X your # of employees
Example: $1200 to run 2 locations for a system
- Location A = 4 employees = $800/month
- Location B = 2 employees = $400/month
Systems we (can) share:
- PTEverywhere
- GHL
- Admin assistants
- VAs
- Training – for admin and PTs
- QuickBooks; bookkeeping
- ADP
- Payment processing
- Google Workspace
- Google SEO/website development
- Liability Insurance?
Financially better than any other offer
No money down to start a franchise with ReNew PT
Guaranteed first year salary (including residency)
$72,000 for first year total (including residency) – $6,000/month
- Resident = $6,000/month for 6 months
- Franchisee first 6 months = $6,000/month minimum salary
First 6 months fees are somehow altered to keep this promise
Year 2 and beyond follow normal fee schedule
High probability to make greater than $100,000 in first year
Royalty fees start higher (to allow for a low-cost entry)
Marketing fee fixed at 1.5% of gross revenue
- Resident = $6,000/month for 6 months
- Franchisee first 6 months = $6,000/month minimum salary