How a Restaurateur and Former Air Force Pilot Are Disrupting a $4.7 Billion Industry With PrimeWave

SCOTTSDALE, AZ - Anyone in search of the next best category in franchising should take a close look at PrimeWave, an emerging franchise out of Arizona that is introducing a powerful new treatment for erectile dysfunction (ED) to a growing pool of clients and entrepreneurs. Currently estimated at $4.7 billion, the erectile dysfunction market is projected to reach more than $7 billion by 2024, and PrimeWave is one of the first franchise brands to establish a foothold in that market. PrimeWave’s chief innovation is the application of acoustic wave therapy, a cutting-edge technology that sets the company apart from pills like Cialis, Viagra and their generic equivalents, in addition to needle injections, which dominate much of the market. 

PrimeWave Co-Founder and Director of Business Development Matt Goodwin is a career entrepreneur who has owned or consulted on more than 30 hospitality projects including bars, breweries and restaurants over the past two decades. Despite the success he’s found, Goodwin says he was feeling burnt out in the notoriously fast-paced industry, and he was seeking a new opportunity to launch the next phase of his career.

“I looked at all sorts of business opportunities, but I really wanted to find something that was cutting edge — something that had a big future,” Goodwin explained. When he came across acoustic wave therapy, Goodwin says he knew right away he’d found what he was looking for.

Acoustic wave therapy works by sending low-intensity vibrations into a targeted area of the body, disturbing arterial blockage and encouraging the body to produce stem cells that repair damaged tissue. Many men who experience erectile dysfunction are actually suffering from arterial blockage caused by plaque, fatty tissue or other debris. While traditional ED medications open the blood vessels, allowing blood to flow around that blockage, acoustic wave therapy breaks up that blockage to allow regular blood flow, meaning the results last much longer than a pill.

“It’s unique, it’s interesting, and much more importantly, it’s an incredibly valuable technology that has only just started to come into use,” Goodwin said. 

Goodwin brought the idea to his friend and business partner, Darrin Blume, a former U.S. Air Force pilot whose career was cut short by an injury in 2016. Like Goodwin, Blume says he was on the hunt for a lucrative post-piloting career.

“Matt told be about this new acoustic wave therapy technology he’d found out about, and I thought it sounded a little too good to be true, but I started doing the research — digging through scientific studies, calling doctors literally all around the world, and everything I found confirmed that this was the real deal,” said Blume, who is now the franchise’s CEO.

Acoustic wave therapy has already proven effective for a range of other chronic conditions, including back pain, plantar fasciitis and carpal tunnel, meaning acoustic wave’s therapy value may very well far exceed its role in the erectile dysfunction market. 

“ED is the main thing we are treating right now, but the potential applications are endless,” Blume said. “Sports teams are already using acoustic wave therapy to help players recover from injuries, but that type of treatment has not previously been readily available for consumers, until now.”

Blume and Goodwin established their first PrimeWave location in Scottsdale, Arizona, and almost immediately, PrimeWave saw success.

“We had a steady stream of clients right away,” Goodwin said. “People aren’t satisfied with pills — they want a more permanent solution, something they don’t have to think about — and PrimeWave proved to be a very attractive alternative in that respect.”

Quickly, the team moved on to open a second location in Las Vegas, which found its footing just as quickly as the first. Today, both locations bring in more than $1 million a year in revenue, and that’s after an initial investment as low as $209,750. 

“I’m used to opening restaurants, which can cost $500,000 and take at least a year to get up and running,” Goodwin said. “So when we were able to open a location in just 30 days for a fraction of the investment and still pull in the kind of revenue we’re seeing, I knew we’d found a killer business.”

Now, PrimeWave is gearing up for widespread expansion, with plans to grow the franchise to 50 locations within the next few years, starting with Arizona, Nevada, California, Atlanta and Chicago.

Blume says he expects to have little trouble finding qualified franchisees to run the business in new markets. The franchise’s operational model includes a doctor on-site at each location to consult with patients and make sure the treatment is right for them, which means that franchisees are not required to have a medical background themselves. However, Blume says some experience with the medical industry is ideal.

“The main thing we’re looking for is people with a strong and savvy entrepreneurial mindset,” Blume said. “If they have sales or marketing experience within the medical field, that’s even better.”

Goodwin says his team is also looking for owners with prior experience in the franchise industry, but not just for the benefit of tapping into their industry experience. Experienced franchisees, Goodwin says, are more likely to see the true value of PrimeWave’s franchise opportunity.

“If someone has experience running a spa franchise or a fast food franchise and they look into PrimeWave, they are going to be blown away,” he said. “We are far more profitable, with a much higher ceiling than any other franchise opportunity I’m aware of. If a multi-brand operator adds PrimeWave to their portfolio, it’s going to become their most valuable asset very quickly.”

The initial investment to open a PrimeWave franchise ranges from $209,750 to $453,101, including a $50,000 franchise fee. The brand is actively seeking franchise owners in Arizona, Nevada, California, Atlanta and Chicago. For more information on franchising with PrimeWave, please visit https://primewave.org/.

About PrimeWave

Established in 2018 by partners Matt Goodwin and Darrin Blume, PrimeWave Medical Group offers a unique and innovative entryway into the $4.7 billion erectile-dysfunction industry for qualified entrepreneurs. By offering a safe and non-invasive application of acoustic wave therapy, PrimeWave provides an effective alternative to ED treatments like pills and needle injections, avoiding the side effects, discomfort and lifestyle challenges associated with those treatments. PrimeWave’s franchise model provides owners with a complete operational plan for building and operating a successful medical clinic plus full-time operational, medical and marketing support to ensure franchisee success. PrimeWave currently has locations in Arizona and Nevada and is actively seeking franchisees in new markets across the U.S.