What is the time period that the Healthsource Chiropractic financial representation covers?
Healthsource_Chiropractic Franchise · 2025 FDDAnswer from 2025 FDD Document
This historic financial representation is divided into four main parts: (1) Gross Revenues for Qualifying Units, including a year over year comparison of 2024 vs. 2023; (2) 2024 Gross Profit (with Gross Revenues) for the Participating Franchisees; (3) 2024 Conversion Percentage and Patient Visit Average; and (4) Case Average and Average Visit Income. The references to a fiscal year mean January 1 through December 31 of the indicated calendar year.
Source: Item 19 — (FDD pages 64–71)
What This Means (2025 FDD)
According to Healthsource Chiropractic's 2025 Franchise Disclosure Document, the financial performance representation primarily covers the 2024 fiscal year, which runs from January 1 through December 31. The document also includes a year-over-year comparison of gross revenues for 2023 versus 2024 for qualifying units. This allows prospective franchisees to see recent financial data and trends.
Specifically, the financial performance representation includes gross revenues for qualifying units, comparing 2024 and 2023. It also details the 2024 gross profit for participating franchisees, conversion percentages, patient visit averages, case averages, and average visit income. This information is based on data gathered from Healthsource Chiropractic's HSWorx billing software.
The financial data is derived from a specific group of franchise outlets called "Qualifying Units," which are those that were open and reporting data through the HSWorx software for the entire 2024 fiscal year. For example, the gross revenue comparison includes 113 clinics that qualified in both 2023 and 2024. The gross profit information is based on 74 "Participating Franchisees" that provided sufficient cost data for 2024. These distinctions are important for understanding the scope and limitations of the financial performance data presented by Healthsource Chiropractic.