Teaming Up on Partnership Pathway to Multi-Unit Ownership and Success
Meet Chris Bailey, DPT, a physical therapist who, with his father, owned and ran a private physical therapy clinic. Enter Karla Mazza, an entrepreneur, looking for an opportunity for an ownership stake in a business with growth potential. By joining forces, they capitalized on the FYZICAL model to achieve multi-unit success and built an ever-evolving partnership that garnered opportunity and a pathway to profitability.
We sat down with the 2021 FYZICAL Franchisees of the Year to discuss their tremendous success and model for partnership within a healthcare franchise business and this is their story:
On Joining FYZICAL:
Chris (PT): I owned a small clinic with my Dad in Corry, Pennsylvania, with a population of 5,000. We had a good outpatient clinic, but the town started shrinking. I knew that if we were going to grow, I had to find something unique that would set us apart.
FYZICAL's proprietary Balance and Vestibular Therapy and safety overhead support system were unlike anything I'd ever seen, and there was a huge need for it. I also knew that founder Jim Abrams had a vision for cash-based services, like retail and massage. My goal was to expand throughout the region, but as a solo clinician, it would be difficult. I knew Karla could execute expansion and marketing avenues with her extensive business experience. She came on board, and in a few months, we transitioned to FYZICAL, and we grew from one clinic to four and now have 20 clinicians working with us.
Karla: I was with another national franchise working as an operations assistant and in charge of marketing. However, it was a family-owned business, so there would not be an opportunity for me to have ownership of the business.
It has always been a dream of mine to be my own boss. Chris explained how FYZICAL could offer business opportunities to someone like me without a medical degree. I also liked the holistic approach FYZICAL was taking to healthcare, which was unlike anyone else. It was a great opportunity for me to grow, be my own boss, and set myself up for financial success in the future.
On the Partnership Path:
Chris (PT): Karla had business experience, and I had clinical expertise as a physical therapist. We knew that together, we could make this work. We sat down, looked at the FYZICAL model, and saw how our business could grow. We both had the same vision, were aligned, and knew the goals could be achievable from day one.
Karla: I could see the playbook FYZICAL was offering, and I knew this would work if we followed that. It made complete sense how to measure your business, identify trends, and understand the business. I knew FYZICAL could teach us, and they had all the resources. So I knew if we dove in and followed their playbook, I had all the confidence in the world that this would work. And it has.
On Specific Roles:
Chris (PT): I manage clinical operations, physician liaisons, billing, and training. Karla handles all business operations, HR, payroll, marketing financials, and IT. We work together on branding, marketing strategy, acquisition and growth, outside presentations, new ventures, partnerships, and new revenue streams.
Karla: Together, we make up 100%. It could be 80/20 one day; it could be 40/60 the next. Rarely is it 50/50 because the business requires different demands on different days, as all companies do. We balance each other out. The key is making up 100% together, making it all worthwhile.
On Why the Partnership Works:
Chris (PT): This partnership works because our strengths are almost each other's weaknesses. We knew Karla had marketing strengths while I had clinical expertise. She handles those areas, and I handle mine, but we collaborate across both roles. We've been in growth mode for a while, and our roles have evolved as we have continued to grow.
Karla: We complement very well, which applies to all business facets. We each have our own strengths, yet we naturally balance each other out. Learning about your partner is vital because where we started differs from where our partnership is now. We continue to progress and grow together as the business expands.
Partnership Strategy for Success Scaling
Clinical Expertise + Business Acumen Equals Winning Connections for Success
On Looking for a PT Partner:
Karla: A physical therapist will have to be able to connect the dots between patient care and the success of the business. A clinical partner has to be able to see the FYZICAL business model. Many PTs can manage a caseload, but they must know the importance of, for example, why we operate on a 40-minute time block or have so many patient visits. Chris understands that and the financial component. Therefore, he supports me. You can be a great clinician, but you have to be a great clinician who understands why the business element is so important. We respect each other's roles and come together as one unit.
Chris (PT): Clinicians have to be able to scale a practice and understand the importance of building a team. They have to be humble, open-minded, willing to train others and want to grow a business and learn new things. You have to understand the importance of building a team. There's got to be an understanding that there's an investment of time in learning about the business and each other. Both partners need the same vision.
Benefits of FYZICAL Partnership:
Karla: From my business experience, I knew we could grow and scale, and I knew the end game. We needed to take specific steps to grow from one location to a multi-unit operation. This partnership allowed us to do that. Chris and I were excited about the FYZICAL model and the FYZICAL principle. We knew it would work if we adapted to the entire model and strongly contributed and committed to the brand.
Chris (PT): Karla changed our Mom-and-Pop operation using the FYZICAL model. Some of what we had going worked for our one location, but it would not work if we wanted multiple clinics. She helped simplify our old-school tactics, worked on the FYZICAL marketing plan, and executed that plan. We are both very involved in the business, understand it, and are on board and a part of operations and growth. We both play a daily role in contributing to everything that makes it successful so that we can grow it to its maximum potential.
INSTANT WATCH WEBINAR: FYZICAL's Partnership Advantage Program
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