Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)
Issue link: https://sct.epubxp.com/i/62026
RET AILING TODA Y tables and an open, very contemporary feeling," he said. "We believe the set- ting puts the patient in a better frame of mind to receive treatment." The formula seems to be working. Joint Corp. began selling franchises in early 2010 (not a particularly auspi- cious time to launch a business), and as of the first quarter of 2012, had about 150 clinics up and running, with some 40 more in the hands of franchisees still in the process of secur- ing a location. The Joint was established in Tuc- son, Ariz., in 1999 as an ordinary chiropractic clinic, though with that distinctive name. Chiropractic, like most health care concerns, is a highly fragmented business. Roughly 56,300 chiropractic businesses operate in the U.S., employing about 140,000 people, according to industry research specialist IBISWorld. That means lots of small shops. "There are no compa- nies with a dominant market share in this industry," said IBISWorld in a March report. Texas investment firm Business WEST VENTURA COUNTY, CALIFORNIA anything but ordinary Target Opened July 2011 Phase One Retail Opening in 2012 Whole Foods, REI, Century Theatres California Style Open-Air Shopping Highway 101 Frontage Established Trade Area VISIT US AT ICSC LAS VEGAS, BOOTH C149 M STREET Venture Capital bought the business after it had been operating for about 10 years and began pushing the fran- chise model. Leonesio had just sold his massage-parlor company, called Mas- sage Envy, which by then had grown to about 300 franchised units. Leonesio built up Massage Envy in much the same way he is building up the Joint: Massage Envy offers set prices, member- ship plans and longer hours than most health care providers. The real estate strategy of the two is similar as well. In fact, the Joint has located in some of the same properties as Massage Envy. "Community centers tend to be good locations for the Joint, ideally one al- ready containing a wellness-oriented tenant, such as a gym or Pilates studio or Massage Envy," said Jessica Owen, Joint Corp.'s national director of real estate. "The idea is to make it as easy as possible for people to visit." Joint clinics typically measure roughly 1,500 square feet. "Most of the locations so far are suburban, but as we grow, we believe there will be more clinics in cities," Owen said. "In any case, we prefer to have at least 75,000 households nearby with at least $50,000 in annual income per household." Leonesio says there is a lot of inter- CA DRE 01382566 • 858.526.6650 ShoppingTheCollection.com 66 SCT / MAY 2012 est in franchises among chiropractors. "The goal in the next 10 years is to have 1,000 clinics," he said. "And we expect there's enough interest in the concept to meet that goal." SCT HWY 101 OXNARD BLVD