Business
The Joint Chiropractic Takes Home 2021 TOP$SCORE FUND™ Award for Commitment to Franchise Financing
SCOTTSDALE, Ariz., Sept. 20, 2021 /PRNewswire/ -- The Joint Corp. (NASDAQ: JYNT), the nation's largest provider of chiropractic care through The Joint
About this update from The Joint Corp.
[{"type":"text","content":"SCOTTSDALE, Ariz., Sept. 20, 2021 /PRNewswire/ -- The Joint Corp. (NASDAQ: JYNT), the nation's largest provider of chiropractic care through The Joint Chiropractic® network, was pleased to be one of only two brands to receive the TOP$CORE FUND Award at the Multi-Unit Franchising Conference in Las Vegas this month. The award is presented annually to brands that exemplify performance excellence and lender friendliness. \n\n \n \n \n \n \n \n\n \nThe TOP$CORE FUND award is given to one food and one non-food brand with a leading FUND score that consistently demonstrates a commitment to supporting franchisees' access to financing. The FUND scoring system is embraced by banks of all sizes that collectively represent over a trillion dollars in assets. The award was created to highlight brands that have risen above other peers by simplifying the financing process, which equates to a lower cost of capital and better financing terms for their franchisees.\n\"To be recognized with the top FUND score for our commitment to our franchisees is especially rewarding. We pride ourselves in being a best-in-class franchisor that is driven by our franchisees' success every day,\" said Peter D. Holt, president and chief executive officer of The Joint Chiropractic. \nThis award seeks to recognize excellence on unit economics, franchisee-franchisor relationships and franchise support systems. The scoring system lenders rely on to gauge that in franchising is the FUND score, which is a franchise credit risk score which rates 12 credit risk categories such as franchise business success rates, franchise unit profitability, and franchisee support. These franchised brands excel in each of these metrics making it easy for lenders to do business with them. Even regulators have acknowledged the importance of FUND scores as a credit risk monitoring tool for banks.\n\"As this year's TopScore FUND Award winner in the non-food category, The Joint Chiropractic exemplifies commitment to lender support and transparency. The brand outperforms its peers within the personal service industry with a consistent historical success rate despite a year of pandemic challenges. I commend them for their commitment to actions that enhance capital access, enabling their franchisees to receive the best terms and lower their franchising cost,\" said Darrell Johnson, CEO of FRANdata....