Franchise Deep Dive: The Covery Franchise Costs, Fees, Profit and Data

As The Covery expands its franchise operations, it is actively seeking multi-unit franchise partners that are passionate about health and wellness.

By Victoria CampisiStaff Writer

Updated 4:16PM • 03/13/23

LAST UPDATED: 2/2023

FRANCHISE WEBSITE: https://www.thecoveryfranchise.com/

NUMBER OF LOCATIONS: 9

REPORTED COST TO GET IN: $328,000–$605,000

The Covery Wellness Spa provides non-invasive therapies designed to enhance and optimize the health journeys of those in the communities it supports. The idea for the brand came about in early 2019 as its founders saw continued growing trends of high-intensity interval training (HIIT), yoga and pilates programs. Understanding that recovery from these workouts is just as important as the workout itself, The Covery was formed. The Covery is the sister brand to REGYMEN Fitness, a boutique-fitness-studio concept.

Through customized wellness journeys, clients are provided with the tools and the education that is needed to reach overall health and wellness goals. Services include a biocharger, IV infusion, NAD + infusion, red light therapy, cryotherapy, sauna, hyperbaric oxygen treatments and more.

How Many Locations Are There?

The Covery currently has nine locations open. The brand opened four new spas throughout 2022, in addition to signing nine deals for new locations across eight states. The brand is developing 45 locations with the anticipation of opening at least 15 more locations in 2023.

As the brand begins its franchise expansion, it is actively seeking multi-unit franchise partners that are passionate about health and wellness, and wants to bring restorative therapies to new communities.

What Is the Business Model?

The Covery offers flexibility in the footprint and therapies that each spa provides. The best concept for every franchisee will depend on several factors, including desired investment and level of franchising experience.

The most popular choice among franchisees begins with offering IV infusions and a few other select services. From there, franchisees have freedom to build the business and add more therapies at a preferred pace. This concept includes a build-out of the space, including treatment rooms. The clinic offers primarily IV services, including IV infusions, NAD+ IV, compression and a few other non-modality services. As revenue increases, other services can be layered into the treatment rooms. These services may include cryotherapy, hydrafacials, CRYOSKIN, hyperbaric treatments and Red Light Rooms.

The Covery also offers a co-brand opportunity for current business owners to bring its services to their current clientele. Owners of wellness spas also have the opportunity to fully convert their business into The Covery.

How Much Can The Covery Franchise Owners Make?

Profits for The Covery are not publicly available. However, The Covery ensures recurring revenue for franchise owners through membership models designed to encourage cross-brand participation and expand their target customer bases. This quarter, REGYMEN and The Covery have continued to roll out new initiatives to help their franchisees thrive and build a loyal following. For example, The Covery is now offering two different business models based on the size of the designated market.

How Much Does It Cost To Open a Franchise Location Of The Covery?

The estimated total to open a franchise location of The Covery is $328,000–$605,000. Here is a breakdown of the associated costs:

Initial Franchise Fee: $39,500
Lease (est. monthly rent): $5,000–$12,500
Technology Systems (finance down payment): $1,000–$6,000
Equipment (finance down payment): $20,000–$90,000
Pre-Opening / Grand Opening Marketing and Payroll Expenses: $30,000–$53,500
Travel and Training Expenses: $2,500–$6,000
Insurance (annual estimate): $15,000–$20,000
Licenses and other Prepaid Expenses: $1,000–$4,500
Start-Up Office Supplies, Inventory: $5,000–$12,000
Furniture, Fixtures and First Aid Equipment: $10,000–$16,000
IV and Start Up Retail Inventory: $20,000–$35,000
Architectural & Engineering Professional Services: $8,000–$15,000
Signage: $5,000–$9,000
Leasehold Improvements: $150,000–$250,000
Legal, Accounting, Misc. and Organizational Costs: $1,500–$9,000
Additional Funds—Three months: $15,000–$30,000
Estimated Total: $328,000–$605,000

What Is the Franchise Fee for The Covery?

The initial franchise fee to open The Covery is $39,500.

Who Are the Leaders of The Covery?

What Helpful Articles Can I Read to Learn More?

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