Pritikin ICR Franchise Costs $26K – $77K (2024 Fees & Profits)
Founded by Nathan Pritikin in the late 1970s, Pritikin ICR specializes in intensive cardiac rehabilitation that blends exercise, education, and nutritional counseling. Headquartered in the United States, the franchise has expanded its presence to help individuals recover and manage their cardiovascular health more effectively.
The franchise is one of the few cardiac rehab programs endorsed by the Centers for Medicare and Medicaid Services (CMS). This recognition validates its evidence-based approach, making it a credible and effective choice for those seeking to improve their heart health and lifestyle habits.
For franchisees, Pritikin ICR offers comprehensive support, including training in the delivery of its programs, guidelines for implementation, and continuous assistance to maintain high-quality standards in patient care. This support enables franchisees to effectively administer the Pritikin method to patients efficiently and with consistent results.
Initial investment
Here’s what you can expect to spend to start a Pritikin ICR franchise.
Type of Expenditure | Amount |
---|---|
Training Fee | $19,500 |
Patient Educational Materials | $1,200 – $6,000 |
VICR Implementation Costs (if applicable) | $0 – $5,000 |
Cooking Equipment | $0 – $10,000 |
CMS Enrollment Application Fee | $688 |
Professional Fees – Legal & Accounting | $50,000 |
Additional Funds (3 Months) | $0 – $26,000 |
Total | $26,000 – $77,000 |
Note: The table above provides a snapshot of the main costs associated with starting the most common franchise format (as disclosed in the Item 7 of the Franchise Disclosure Document). For a complete overview of all the expenses involved with the various formats offered by the franchisor, please consult the Franchise Disclosure Document.
Franchise fees & Royalties
Here are the main ongoing fees the franchisor will ask you to pay going forward to run the franchise.
Initial Franchise Fee
Not applicable. However, an initial training fee of $19,500 is mandatory, payable within 30 days of starting to bill patients for the provided programs.
Royalty Fee
Not applicable.
Certification Payment
A 15% monthly fee is charged for hospital outpatient departments, and a 17.5% fee is charged for physician offices. The fee is calculated based on the sessions provided in the previous month and must be paid by the last day of the month.
Training Fee for Certification or Additional Persons
The then-current standard training fee applies, which is currently $19,500 per facility.
Patient Educational Materials Fee
A fee of $50 per CR (Cardiac Rehabilitation) or ICR (Intensive Cardiac Rehabilitation) patient is due within 30 days from the invoice date.
VICR Platform Users Fee
The fee varies and is currently set between $95 to $135 per month, depending on usage and services accessed.
How to apply
Opening a Pritikin ICR franchise involves several steps designed to ensure you are a good fit for the franchise. Here are the main steps to follow to open a Pritikin ICR franchise.
1. Research the Pritikin ICR Franchise
- Understand the core concepts of the Pritikin Intensive Cardiac Rehabilitation (ICR) program, which focuses on lifestyle and dietary changes to improve heart health.
- Study the market to determine the demand for cardiac rehabilitation services in your area.
- Review success stories and testimonials from existing franchises to gauge potential outcomes and challenges.
2. Review the Franchise Disclosure Document (FDD)
- Obtain the Franchise Disclosure Document, which contains key details about the franchise, including financial performance, fees, legal obligations, and support provided.
- Consult with a franchise attorney to understand the terms, obligations, and your rights under the FDD.
- Analyze the financial requirements and obligations outlined in the document to ensure they align with your investment goals.
3. Secure Financing
- Assess your financial situation to determine how much you can invest and how much you need to finance.
- Explore different financing options such as bank loans, SBA loans, or franchisor financing if available.
- Prepare a solid business plan to present to potential lenders, showing projected revenue, business strategy, and profitability.
4. Choose a Suitable Location
- Identify potential locations, keeping in mind the target demographic, accessibility, and proximity to hospitals or medical centers.
- Evaluate each location based on size, cost, visibility, and compliance with Pritikin ICR’s location requirements.
- Negotiate lease terms or purchase agreements for the selected location.
5. Obtain Necessary Licenses and Permits
- Research the specific licenses and permits required to operate a cardiac rehabilitation facility in your region.
- Apply for all necessary local, state, and federal permits, including health and safety certifications.
- Ensure compliance with healthcare regulations and standards applicable to cardiac rehabilitation services.
6. Complete Franchise Training
- Participate in all training programs provided by Pritikin ICR to understand their methods, operational procedures, and business models.
- Train in specific Pritikin methodologies, including diet, exercise, and patient education components.
- Develop competencies in business management, patient care, and staff training as directed by the franchisor.
7. Set Up Your Franchise
- Follow the guidelines provided by Pritikin ICR for setting up the facility, including interior design, equipment installation, and IT infrastructure.
- Hire qualified staff, including medical professionals, dietitians, and support personnel.
- Implement marketing strategies as per the franchisor’s plan to attract and retain patients.
Disclaimer
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