Medical franchise: for which professions?
Many healthcare industries are growing as franchises. The medical franchise concerns both the medical professions and the paramedical professions.
The franchise model appeals to many healthcare professionals, such as:
Doctors, pharmacists or dental surgeons in the medical professions;
Nurses, dieticians, opticians, speech therapists, paramedics or even physiotherapists in the paramedical professions.
All of these professionals offer services and can join a franchise network .
The medical franchise is also of interest to professionals specialising in the sale and rental of medical equipment . Good to know: the medical and paramedical professions are highly regulated . A diploma related to the profession exercised is mandatory to open a medical franchise. In addition, registration with the order, as well as obtaining authorization from the order may be necessary in order to integrate a franchise. Finally, updating your knowledge, through seminars or training, is necessary, even mandatory if the franchisor requires it.
What are the benefits of opening a medical franchise?
There are many benefits to starting a medical franchise .
First of all, opening a medical franchise will allow you to limit the initial personal contribution . Most often, the personal contribution as a franchisee does not exceed 20,000 euros, or even 10,000 euros in certain sectors such as nutrition. For example, in the BODYSANO franchise network , the initial personal contribution to open a franchise is 5000 euros.
Then, embarking on a medical franchise allows you to take advantage of experienced medical know-how . The franchisee also benefits, in this respect, from the notoriety and image of the network . This is an effective way to attract and retain customers .
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Finally, the franchisee benefits from technical and commercial assistance throughout the franchise contract . From the outset, the franchisee benefits from training offered by the franchisor to complete his knowledge. This commercial and technical assistance continues until the expiry of the franchise contract, through advice on the layout of the medical center, regular visits from the franchisor or even advice on marketing or human resources.
What steps to open a medical franchise?
There are several key steps to follow when opening a medical franchise.
Study of the medical franchise network
The medical franchise represents many advantages, but it is still necessary to study the medical franchise network before joining it. This is a crucial preliminary step to opening your franchise. First of all, it will be necessary to ensure the reputation and image of the network , taking into account customer reviews for example, or the success of franchisees who are already members of this franchise network.
More often than not, the numbers are readily available, including the revenue you could get by becoming a franchisee. Take for example the BODYSANO franchise network. According to the figures provided, the turnover achievable after 2 years of franchise is 200,000 euros. In addition, it is also necessary to ensure the financial stability of the network , which is often an indication that the network is viable . Similarly, you will need to ensure that the network can provide you with commercial and technical assistance . This is also one of the obligations of the franchisor towards the franchisee.
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The means of financing
After determining which network you want to join to open your franchise, the next step is to raise the necessary financing for your project .
This is to demonstrate to the franchisor that you have a certain financing capacity.
It is important, for the franchisee, to be solvent and to be able to face certain costs such as the personal contribution , the right of entry into the franchise , the royalties for your membership of a franchise network. The franchisee must also have the ability to ensure sound management of his business , that is to say, he must have the ability to pay the salaries of his staff, equipment, etc.
Most often, the franchisee takes out a bank loan .
However, to convince the lenders of funds, you will need to set up a business plan . This is a document describing the commercial and financial strategy of your project. It will be used to convince the banks to lend you the funds necessary to open your franchise. The franchisee can also benefit from a zero-interest loan, aid and subsidies granted by the State or public bodies.
Choice of legal status
The choice of legal status is an important step since, depending on the legal status chosen, the legal and tax consequences are not the same. The choice depends on the desire to associate, the desire to protect one’s personal assets, the extent of the liability, the rules governing the remuneration of the manager, the desire to pay dividends at the end of the year, etc. There are statutes to undertake alone, such as the sole proprietorship (EI) or the single-person liability company (EURL) . The advantage of the sole proprietorship is that the creation is simplified because it does not require the drafting of statutes.
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In this context, your personal assets are not protected.The EURL, for its part, protects the personal assets of the individual partner since the liability is limited to his contributions. Unlike the EI, the creation of an EURL requires the drafting of articles of association to provide for the operation of the company.
With regard to health professionals, there are also specific legal statuses for the exercise of a liberal activity . These are private practice companies with limited liability (SELARL) or the private practice company by simplified action (SELAS).
They are intended for health professionals willing to join. The amount of the minimum contribution is fixed at 1 euro. This type of legal status requires creation formalities such as the drafting of the statutes. Please note that the manager must practise the profession exercised by the company.
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