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The Game with Alex Hormozi

Helping A Chiro Scale Past 6 Locations | Ep 837

14 Feb 2025

Description

Want to scale your business? Click here.Welcome to The Game w/ Alex Hormozi, hosted by entrepreneur, founder, investor, author, public speaker, and content creator Alex Hormozi. On this podcast you’ll hear how to get more customers, make more profit per customer, how to keep them longer, and the many failures and lessons Alex has learned and will learn on his path from $100M to $1B in net worth.Follow Alex Hormozi’s Socials:LinkedIn  | Instagram | Facebook | YouTube  | Twitter | Acquisition Mentioned in this episode:Get access to the free $100M Scaling Roadmap at www.acquisition.com/roadmap

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Transcription

Full Episode

1.735 - 6.299 Alex Hormozi

This is Raymond. He owns six chiropractic clinics and he does about $5 million a year and we're gonna help him scale.

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8.1 - 29.0 Raymond Kooner

So hey Alex, my name is Raymond Kooner. I own ChiroFirst of Washington. So we're a chain of chiropractic clinics in the greater Seattle area. So just a little bit about my business. We currently have six brick and mortar locations in the greater Seattle area. Trailing 12 months revenue, 5.2 million. EBITDA of around roughly 1.2 million. And our net profit is about 23%.

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29.04 - 48.856 Raymond Kooner

Do you buy those or do you open up organic? So far, I've bought all of them. Oh, really? Okay. Yeah. But I think moving forward, we're going to change our strategy a little bit. Yeah. So who do you help specifically? So our key demographic that we help is 35 to 65-year-old men and women that have some kind of condition that we can help with, whether it's pain, discomfort, or loss of movement.

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49.157 - 50.798 Alex Hormozi

So you're kind of like income level or anything like that?

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51.761 - 72.151 Raymond Kooner

Yeah, they need to be employed. Insurance or cash? We're about 75% insurance. Oh, interesting. Okay, got it. So how do you help them? So the way we help them is when someone comes into our office, we'll design a custom treatment plan for them. That might be over a period of 60 to 90 days. It might include chiropractic, rehab, and spinal decompression.

72.871 - 81.235 Raymond Kooner

So spinal decompression kind of differentiates us from a lot of our competitors because it's a niche service that we offer for people that have disc related injuries.

81.555 - 83.156 Alex Hormozi

Is that like stretching people out kind of thing?

83.436 - 106.476 Raymond Kooner

Yeah, exactly. Cool. Well, how do you make money? So basically on the front end, we offer a free consultation. So then when the patient comes in, our packages can range from $2,400 to $3,600 over a 60 to 90 day period. We're primarily a reoccurring revenue model. And roughly one out of every seven of our patients, they come in for a larger case value.

106.496 - 128.791 Raymond Kooner

So like a car accident or a work injury might be worth up to $10,000. Okay. What's advertising? How do you find them? So for paid advertising, the two means of advertising are, number one is Facebook ads. So we spend about a thousand bucks per location on that. The second one is Google ads. So we're spending roughly 500 to a thousand per month on each location. Okay. So what's sales velocity?

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