IMAC Holdings Completes Walmart Pilot Program
Apr 7, 2022 By MarketDepth
IMAC Holdings, Inc. (NASDAQ: IMAC) reported successful completion of its pilot program for The Back Space retail chiropractic concept located in select Walmart stores. The company is committed to tripling its store count within at least 20 additional locations over the next twelve months with a further goal of adding significantly more stores over the next three years. “We are excited to guide our prospective franchisees with the experience gained during our ten-store pilot program. During the pilot, we learned that our price point resonates well with consumers and a potential price increase could yield increased revenue without diminishing the consistent desire for care,” said Dr. Ben Lerner, Chief Operating Officer of IMAC. “Similar models by competitors have proven an increased demand for spinal health that this fragmented industry has yet to meet. We believe our location inside Walmart stores and the foot traffic therein provides a significant competitive advantage.”
“The initial interest from franchisees has been strong using only our internal marketing efforts. As such, we do not expect that it will be necessary to engage brokers to sell franchises in the foreseeable future which will allow us to retain a greater portion of the franchise fee to support our franchisee’s development efforts. The feedback has consistently referenced our lower initial investment requirements compared to other chiropractic franchisors. We believe this helps expand our brand at an accelerated pace as compared to solely opening corporate owned storefronts.”
Jeff Ervin, Chief Executive Officer of IMAC
