If you are interested in wellness, healthcare, and its integration with mobile, then you probably heard about Hydreight. It is a relatively new company that offers a clinic network on your mobile phone through its app.
You might be thinking about becoming a part of this business via franchising and wonder if it is possible or worth it. Unfortunately, Hydreight doesn’t franchise as they are an online-based provider, but they offer partnership options for medical professionals.
In this article, we will go through Hydreight’s system, its history, and what you can expect if you want to own a Hydreight franchise.
About Hydreight And Hydreight History
Hydreight, or Hydreight Technologies, is a mobile clinic network in the United States with a fully integrated mobile platform. They have a network of over 2500 nurses, over 100 doctors, and a wide pharmacy network in over 50 states.
The main goal of Hydreight’s platform is to provide nurses and doctors with a way to serve their clients directly without any middleman.
Their services include accounting, sales, booking, managing patient data, and documentation. Because the company is a network that operates over its mobile application, franchising is not a suitable model for them, and they don’t franchise.
However, nurses and doctors can partner with Hydreight to start their own businesses through partnership.
Franchise Model Table
|Cost Or Fees
How Much Does It Cost To Open A Hydreight Franchise?
Hydreight does not offer franchising, so there are no costs associated with opening a Hydreight franchise. If the company somehow finds a way to franchise, then they will post an estimated number of potential franchisees.
Why Doesn’t Hydreight Offer Franchising?
Franchise businesses must generally have physical locations or operations to rent out to franchisees. It requires a different model than Hydreight’s business model. That’s why Hydreight is not quite suitable to offer franchising, and they are not offering franchising.
Whether this will change in the future or not will depend on the company’s goals. If the business operations change to make it eligible for franchising, then there might be an option, but the company hasn’t communicated anything about this.
Profit & Revenue Of Hydreight
Hydreight is a public company, so they must share their financials quarterly. Based on these official reports, the latest report for the entire year 2022 says that the company’s total revenue was 4.27 million Canadian Dollars. They didn’t make any net profits, marking a net loss of 6 million Canadian Dollars.
The revenue increased by 256% from 2021’s results, but the net loss widened by around 600 million Canadian Dollars.
What Are Some Alternatives To Hydreight?
Hydreight might not offer franchising, but you can look for alternatives in the industry. However, it’s worth noting that companies that do quite similar work to Hydreight also can’t franchise. These alternatives are similar based on the industry.
1. Massage Envy
Massage Envy is a massage therapy company offering massage and wellness memberships. They are not an IV therapy company like Hydreight, but their focus is on wellness and health. They were first founded in 2002 and have been franchising actively with over 1 million members and 1,000 locations.
The expected cost to open one Massage Envy franchise outlet is between $554,850 and $980,000, including the $45,000 franchise fee and all other startup costs. You sign an agreement for 10 years and pay a 6% royalty fee each month.
2. Liquivida Lounge
Liquivida Lounge is a traditional medical spa and wellness therapy company with a focus on IV therapy in their spa and wellness centers. Because they offer IV therapy, they are similar to Hydreight’s offer but not in how their business model works because Liquivida is a medical spa with locations. They offer medical aesthetics, pro-active weight-loss solutions, and IV spa therapies.
The total cost for one Liquivida Lounge is between $495,000 and $682,500. This includes the one-time $75,000 franchise fee. The royalty fee to pay every month is 6% of gross sales. You also need to have a net worth of at least $500,000 to be eligible.
3. Prime IV Hydration & Wellness
Prime IV Hydration & Wellness is an IV therapy clinic that offers IV vitamin therapies with shots. Their IV therapy and having nurses in their clinics and administering these shots make them quite close to Hydreight but with limited services. They have been operating since 2008, and they offer a variety of shots to help with problems. These include Anti-Aging, Weight Loss, Cold and flu, Altitude Sickness, and many others.
The expected average investment for one Prime IV Hydration & Wellness franchise is between $164,333 and $599,722. The franchise fee, which is included in the expected initial investment, is $49,000, and the royalty fee is 7%.
For those looking to open a franchise in the healthcare industry, possibilities include a Weight Watchers franchise.
|The Hydration Room
|$92,600 – $166,600
|The Drip Bar
Hydreight is a quite popular mobile-only clinic network that serves around 50 states in the United States.
They have thousands of nurses and doctors under their network who can help you instantly with the push of a button by visiting your home. Due to the business structure, Hydreight can’t franchise, and that’s why they are not offering franchising.
However, some companies with physical locations offer IV therapy or other similar wellness services that offer franchising.
The industry is growing, and there is huge potential with a wide range of alternatives. You may look at these alternatives if you are interested in the industry.
Is Hydreight a franchise?
No, Hydreight is not a franchise, and we don’t know if they will or can be a franchise in the future.
Who owns Hydreight?
The majority shareholder at Hydreight is Victory Square Technologies, Inc., with 66% of the stakes. The rest are individuals like Shane F. Madden, Alexandros Tzilios, and others.
Is Hydreight profitable?
According to the latest available figures, Hydreight is not profitable. They made a net loss of 6 million Canadian dollars in the full year of 2022.