The founder of Prime IV Hydration and Wellness Franchise, Amy Neary who has always had a passion for health and wellbeing, created a lab where she offers her clients B-12 vitamin injections in addition to blood tests. Amy noticed there was a demand for more health and wellness solutions for her clients after operating and expanding the business for ten years, so she started looking into IV vitamin therapy.
Amy made the decision to launch Prime IV Hydration and Wellness after conducting research about IV therapy firms for several years and studying the best formulations. The company’s sales surpassed those of her lab company, which she had owned for ten years, demonstrating the market’s need for IV vitamin therapy.
Unlike other IV facilities currently on the market, Prime IV Hydration and Wellness educates the public about their personal health and wellness while supplying premium vitamin concoctions. Also offering the public an option to pills or other chemicals that are not natural, and could be hazardous to the body if used repeatedly.
The Cost Of Opening Prime IV Hydration and Wellness Franchise
You should have a minimum net worth of $250,000 and $100,000 in liquid capital to purchase a franchise with Prime IV Hydration and Wellness. Franchisees should budget between $150,000 and $340,000 for their investments. Note that they provide financing through a third party and give veterans a discount (35 percent off the franchise fee).
Breakdown of the Cost
- Lease/Property/Equipment – $54,300 – $234,500. Note that you would be required to find and set up a new location.
- Salaries – $9,000 – $20,500
- Training/Operations/Licenses – $10,200 – $30,500.
- Technology – $3,402 – $7,402. There are some tools required to power your business.
- Grand opening costs – $12,000.
- Ancillary expenses – $15,000. This will help you cover all your unanticipated costs.
- Franchise fees – $49,000. This cost will help you provides access to a proven system.
- Deposits – $5,000 – $8,000. This security deposit is to be given to the landlord.
- The total cost is $157,902 – $376,902.
Reasons You Should Consider Becoming a Prime IV Franchisee
- Only 8 to 10 percent of oral ingestion reaches tissues that need nutrients, so Prime IV offers a novel approach to healthcare.
- Proven franchising model for fast client growth.
- A novel approach uses IV drips to provide the body with 100 percent absorption of vitamins, minerals, amino acids, and antioxidants.
- Participate in the $3 trillion global wellness business by implementing ground-breaking methods to boost immunity and general health.
- You would use a private social media marketing platform.
- Curriculum for on-site and online continuing education receive instruction from medical experts
- Business is booming following COVID-19.
Steps on How to Open a Prime IV Hydration and Wellness Franchise
1. Have Enough Capital
You would need a net worth of $250,000 and $100,000 to open a Prime IV Hydration and Wellness business.
2. Know The Cost Required To Open a Prime IV Hydration and wellness franchise
You must take into account the costs of construction and signage, licenses and permits, uniforms, insurance, and other expenses.
3. Consider Your Past Experience and Strengths
To open a Prime IV Hydration and Wellness franchise, you should carefully assess your prior business experience.
4. Scrutinize The Supply on The Market
You should research the market before considering application viability for Prime IV Hydration and Wellness franchises, and also check if there are markets available in your target location.
5. Send In Your Application
The Prime IV Hydration and Wellness franchise team will examine your application, and you will get an email confirming the receipt of your online application. This will also include the franchise owner’s contact information in this email.
6. Get Approval To Start Your Prime IV Hydration and Wellness Franchise
You will be given franchise clearance after the results of your background and financial check. Note that only applicants who meet the requirements of franchise owners would be approved.