The Joint Chiropractic Takes Home 2021 TOP$SCORE FUND™ Award for Commitment to Franchise Financing
SCOTTSDALE, Ariz., Sept. 20, 2021 /PRNewswire/ -- The Joint Corp. (NASDAQ: JYNT), the nation’s largest provider of chiropractic care through The Joint Chiropractic® network, was pleased to be one of only two brands to receive the TOP$CORE FUND Award at the Multi-Unit Franchising Conference in Las Vegas this month. The award is presented annually to brands that exemplify performance excellence and lender friendliness.
The TOP$CORE FUND award is given to one food and one non-food brand with a leading FUND score that consistently demonstrates a commitment to supporting franchisees’ access to financing. The FUND scoring system is embraced by banks of all sizes that collectively represent over a trillion dollars in assets. The award was created to highlight brands that have risen above other peers by simplifying the financing process, which equates to a lower cost of capital and better financing terms for their franchisees.
“To be recognized with the top FUND score for our commitment to our franchisees is especially rewarding. We pride ourselves in being a best-in-class franchisor that is driven by our franchisees’ success every day,” said Peter D. Holt, president and chief executive officer of The Joint Chiropractic.
This award seeks to recognize excellence on unit economics, franchisee-franchisor relationships and franchise support systems. The scoring system lenders rely on to gauge that in franchising is the FUND score, which is a franchise credit risk score which rates 12 credit risk categories such as franchise business success rates, franchise unit profitability, and franchisee support. These franchised brands excel in each of these metrics making it easy for lenders to do business with them. Even regulators have acknowledged the importance of FUND scores as a credit risk monitoring tool for banks.
“As this year’s TopScore FUND Award winner in the non-food category, The Joint Chiropractic exemplifies commitment to lender support and transparency. The brand outperforms its peers within the personal service industry with a consistent historical success rate despite a year of pandemic challenges. I commend them for their commitment to actions that enhance capital access, enabling their franchisees to receive the best terms and lower their franchising cost,” said Darrell Johnson, CEO of FRANdata.
The Joint Chiropractic is known for its convenient retail setting and concierge-style services including no-appointments, no-insurance hassles, affordable chiropractic care and accommodating hours of operations, including evenings and weekends.
For information on The Joint Chiropractic, or to find one of our chiropractors near you, visit thejoint.com.
FRANdata is a leading franchise-focused research and advisory company. By leveraging the largest verified database of franchise information and with over 30 years experience analyzing the franchise market, FRANdata creates targeted business development strategies and actionable solutions that provides their clients with the information they need to understand risk, measure opportunities, and improve performance. FRANdata is the creator of the FUND (Franchise Credit Scoring) report which is relied upon by lenders with over a trillion dollars in assets to assess their franchise credit risks. For more information go to www.frandata.com.
About The Joint Chiropractic
The Joint Corp. revolutionized access to chiropractic care when it introduced its retail healthcare business model in 2010. Today, the company is making quality care convenient and affordable, while eliminating the need for insurance, for millions of patients seeking pain relief and ongoing wellness. With more than 600 locations nationwide and over eight million patient visits annually, The Joint Chiropractic is a key leader in the chiropractic industry. Named on Franchise Times “Top 200+ Franchises” and Entrepreneur’s “Franchise 500®” lists, The Joint Chiropractic is an innovative force, where healthcare meets retail.
The Joint Corp. is a franchisor of clinics and an operator of clinics in certain states. In Arkansas, California, Colorado, District of Columbia, Florida, Illinois, Kansas, Kentucky, Maryland, Michigan, Minnesota, New Jersey, New York, North Carolina, Oregon, Pennsylvania, Rhode Island, South Dakota, Tennessee, Washington, West Virginia and Wyoming, The Joint Corp. and its franchisees provide management services to affiliated professional chiropractic practices.
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SOURCE The Joint Corp.