Mike Graves and Bruce White

Franchisees in Palm Beach, FL

"Since joining FYZICAL, our business is growing and blossoming once again. We have had very desirable multi-million dollar offers for the practice, but at the moment, with a thriving business, have no desire to sell.We’re building a valuable exit strategy (whether we decide to sell in the future or continue receiving our ‘paycheck for life’). We now operate 10 locations and we’re budgeted for $11 million in 2018. It has been a thrilling few years with FYZICAL, and we’re extremely excited for the future. We just wish we found FYZICAL seventeen years ago."

Mike Graves and Bruce White FYZICAL Franchisee Success Story(Mike Graves) – I’ve been a private practice owner for 19 years. Within a couple of years, I built a $360,000 practice, but of course, I was seeing every patient and working a maddening schedule. I quickly realized what I was doing was not sustainable and I would need to build a practice focused on operational excellence andmarket share in order to stand the test of time. Over the next 5 years, I built a $1.5M practice on a solid operational foundation and was ready to expand further.

One day, I took my daughter to this place called ‘My Gym,’ a place where you take your kids to play, and I was the only male in the place… until another guy walked in. That guy, was Bruce White. We started talking, and sure enough, he was operating his own private practice across town, and we really hit it off. We went next door, grabbed a beer and some chicken wings, and our business relationship began. We talked a few times each week, implementing joint marketing programs, and soon realized it just made sense to merge our companies.

We continued our focus on implementing operational excellence and expanding market share within our business. Fast forward a few years, Bruce and I were operating 6 locations, and suddenly became one of the larger private practice groups in the country. We felt like we were really living the life. Boy, if I could tell you one key thing as a PT practice owner, if you have desire to grow your business, you must get over the belief that your own PT capabilities are required to grow your business.

I quickly realized the less patients we treated, the more patients we could help.

It was 2013, our business was generating a pre-tax profitability of 26%, our management team was in place, and the business was a fairly well-oiled machine. We were spending just a few hours each week working in the business.

Regrettably, I knew this was not sustainable. In fact, we no longer had the will and confidence to continue expanding our practice and had shifted things into neutral. The major provisions of the affordable care act were being enacted, reimbursements were declining, hospitals were taking control, and we knew our profession needed a new business model.

I got a flyer in the mail to attend PT Revolution, but, unfortunately, it was during the tail-end of my family vacation. After reading a bit more about what FYZICAL was all about, I made an executive decision to cut my vacation short and attend the event. My wife wasn’t thrilled, but I knew I had to be there.

At the event, I came to know and understand FYZICAL and PT-Rx, the business model I’d be yearning for, and I knew this was the future for private practice. Bruce and I made the decision to join FYZICAL, realizing both the short, and long term opportunities. We could not have been more right!

Under this new model, and with an immense level of support from FYZICAL, our business is growing and blossoming once again. We have had very desirable multi-million dollar offers for the practice, but at the moment, with a thriving business, have no desire to sell. We’re building a valuable exit strategy (whether we decide to sell in the future or continue receiving our ‘paycheck for life’). We wouldn’t have been able to do this without FYZICAL’s business model. Furthermore, our management team has received what I like to call a ‘Boots on the Ground MBA.’ This would have never been possible without FYZICAL, with the management calls, library of success, and all of the processes available to our team with FYZICAL.

In looking back, our saving grace has always been accepting and adapting to change. During the early years of my practice I accepted that continuing as an egocentric run practice would be the death knell of my business. Likewise, in 2013, Bruce and I both accepted that change was upon us and that absent a change in behavior and the model we were operating under, we had little chance to sustain the type of profit we had grown accustomed to.

Bruce and I now operate 9 locations and we’re budgeted for $8.25 million in 2017. Seventeen years ago, I ran an ego-centric practice with limited to no value in the marketplace. Today, our systems and process driven practice is backed by a solid management team, and is worth millions.

It has been a thrilling couple of years with FYZICAL, and I am extremely excited for the future. I just wish I found FYZICAL seventeen years ago.


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