Sarasota physical therapy franchise opens 44 clinics in first half of 2024

Fyzical Therapy & Balance Centers, a national company headquartered in Sarasota, finished the first half of the year with 44 new clinics and 32 franchise deals, according to a statement.

Billing itself as the nation’s fastest-growing physical therapy franchise, Fyzical passed the milestone of opening its 500th location in 2023 and now has more than 575 clinics in 46 states.

Focused on orthopedic, sport, neurological, manual and balance therapy, Fyzical Therapy & Balance Centers was founded in 2012 and began franchising in 2013.

Of the 32 franchise deals it has secured so far this year, three are expansions by existing franchisees while six are new area representatives who committed to opening 46 new locations, according to a statement.

One of the new franchisees is former NBA player Greg Monroe, who was drafted by the Detroit Pistons in 2010. After 10 years in the NBA, he played for teams overseas before concluding his basketball career. A company that connects retired athletes with franchise opportunities, Franthlete, helped Monroe identify his next steps, the release states. 

"After my NBA career, I explored new entrepreneurship opportunities, and Fyzical's franchise model aligned perfectly with my goals," Monroe says in a statement. "I'm thrilled to introduce three Fyzical locations to my hometown of New Orleans and forge meaningful connections within the local community."

The total investment to start a Fyzical franchise is $195,750 to $509,000, according to the company’s website. On average, each clinic generated more than $1 million in revenue in 2022, the Business Observer previously reported.

As it has grown, Fyzical has racked up several awards. For 2024, Franchise Business Review ranked the company among the top 100 franchises for culture and named it a franchise rock star, one of the top recession-proof franchises, top franchises for women and top franchises overall. Entrepreneur magazine ranked Fyzical No. 272 on its Franchise 500 list for 2024 and rated it No. 1 in physical therapy and No. 58 among the fastest-growing franchises.

Fyzical is continuing to seek franchisees to tap into new markets, particularly in the midwest as well as Philadelphia and Boston.