Vision, determination and a little prior experience (40 years to be exact) as a franchise executive are some of the things Jim Abrams, the original Founder and current Chairman of FYZICAL Therapy and Balance Centers, used when he launched his company in 2013 in Sarasota, Florida.
According to Brian Belmont, current CEO of FYZICAL, "back in 2013, Jim had his ah-ha moment while researching fall prevention and holistic approaches to overall health when he realized that the physical therapy industry was severely fragmented. Jim saw this as an opportunity and he started crafting a business model around changing healthcare from a referral type system to a preventative system."
Jim used his prior experience in franchising to bring in the best of the best franchise models to create his proprietary franchise system. Early in 2013, Jim formed partnerships with independent physical therapist operators who would later become owners/operators of their own FYZICAL franchise locations. Today, FYZICAL's headquarters owns and operates 10 of its locations and has owners/operators for 350 franchise locations.
FYZICAL employs hundreds of workers in Florida and thousands through its 350 franchise locations. To find new energy for its workforce, FYZICAL leverages colleges and universities to get interns for marketing, finance and other positions. The company even has its own residency program for physical therapists seeking their Doctorate degree in PT.
Culture drives growth
Brian Belmont stated "the culture of our company is really everything to us. To reach the incredible growth, we have, it's because everyone in our organization shares the same mission and vision in that we are a fast paced, high growth company changing lives every day. It's our 'FYZICAL Family' and every one of our team members is family to us," he said
Another factor contributing to FYZICAL's success is the business climate in Florida, according to Belmont. "Sunshine, sunshine, sunshine...there's no more beautiful place to be every day. Combine the sunshine with no state income tax and an overall lower operating cost versus larger states and Florida has a big advantage," he said.
Looking to the future, Belmont is monitoring uncertainty in healthcare industry while at the same time pushing for innovation to maintain FYZICAL's competitive advantage. "We need to work with large providers, so they know physical therapy is valuable for patient care and that reimbursements will be there. We also need to listen to our franchise owners/operators as all of the big ideas come from these owners on the front lines," he said.
What it means to be a Florida Companies to Watch Honoree
Brian Belmont and the FYZICAL Therapy and Balance Centers team were recently selected by GrowFL as a Florida Companies to Watch Honoree. Florida Companies to Watch celebrates growing second-stage companies headquartered in Florida that demonstrate high performance in the marketplace with innovative strategies and processes, making them “worth watching.” Belmont shared what it means to be a Florida Companies to Watch honoree and why he believes FYZICAL Therapy and Balance Centers was selected.
"Anytime you can be alongside other companies of this caliber, it's a real honor," he said. "This recognition put us in an elite list that our company is proud of and that our employees are proud of. I believe we were selected because of our extreme growth over the last four to five years and I would like to thank our franchise owners for buying into the FYZICAL movement."
Advice for Aspiring Entrepreneurs
When asked about his advice for other entrepreneurs, Belmont said, “You have to have the will to make things happen. If you have the will – you will make it happen.”
Notable Community Support
FYZICAL Therapy and Balance Centers is the major corporate sponsor of the Vestibular Disorders Association of America, a 501(c)(3) nonprofit organization, dedicated to providing information and support to countless vestibular patients, while reducing diagnosis times and improving treatment outcomes. In addition, all FYZICAL locations offer no-cost seminars on fall prevention and a free risk assessment for individuals suffering from dizziness.