ChiroWay Franchise Cost, Revenue & Review 2026
- Investment
- $113K – $170K
- Disclosed sales
- not disclosed
- SBA charge-off
- Limited · 14 loans
Data from FDD filing + SBA 7(a) records
Analysis by FranchiseVerdict Research · Methodology
ChiroWay is a chiropractic franchise offering membership-based wellness adjustments and spinal care. Franchisees run the clinics, managing chiropractors, patient flow, and memberships.
FranchiseVerdict summary · 2026
A ChiroWay franchise requires a total initial investment of $113K – $170K, including a $33K franchise fee and an ongoing 3.3% royalty[2]. This franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that. FranchiseVerdict grade: B (Above average), an editorial assessment, not investment advice. Run a live ROI scan →
Sources, dates and evidence
FDD issued: · Data extracted: · Last cited check: · Staleness risk: low - issued within the last 12 months
Evidence: strong✓ Investment (Item 7)✓ Item 19 status✓ Units and owners (Item 20)✓ SBA loan coverage✓ Litigation (Item 3)✓ Financial statements (Item 21)✓ Franchisor identityhow this is scored4 of 4 headline figures on this page cite a page of the filing.
Overview
- Investment
- $113K – $170K
- 19th pct Healthcare
- Avg gross sales
- N/A
- Royalty
- 3.3%
- 4th pct Healthcare
- Units
- 16
- 36th pct Healthcare
- SBA charge-off
- N/A
Quick verdict · Healthcare · color = vs category peers
Green = favorable by >10% vs Healthcare median · No shading = within ±10% · Red = unfavorable by >10% · Source: FDD filings + SBA 7(a)
Data from public FDD filings and SBA records. Not financial advice. Methodology
Bottom line
- COSTTotal investment $113K – $170K including a $33K franchise fee, 3.3% ongoing royalty.
- RETURNSThis franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that.
- RISKVerdict B (Above average), verdict score 66/100 (higher is better).
- GROWTHPositive: net +2 franchised outlets in the latest year (5 opened, 3 closed) (Item 20).
- DATAThis franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that. Item 20 of the FDD lists current and former franchisees; asking them directly is the standard way to fill this gap.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- ChiroWay Franchise, LLC
- Predecessor
- ChiroWay Of Woodbury, PLLC
- Prior franchisor entity
- CEO title
- President and Chief Executive Officer
- Trent Scheidecker
- Incorporated in
- MN
- HQ
- 650 Commerce Dr. Ste. 155, Woodbury, MN 55125
- Auditor
- CliftonLarsonAllen LLP
- Audited financials
- Franchisor revenue
- $274K
- vs $204K prior year
Overview
About
- CEO
- Trent Scheidecker
- Headquarters
- MN
- Founded
- 2012
- FDD year
- 2026
- States available
- 3
Can you afford it, and what does the money buy?
Entry cost runs 56% below the typical healthcare franchise.
Source: FDD 2026 · Items 5–7
FDD Item 7 · 2026 filing
Initial investment breakdown
| Cost component | Low | High |
|---|---|---|
| Initial franchise fee | $33K | $33K |
| Working capital (3–6 mo) | $23K | $33K |
| Equipment, build-out, other | $58K | $105K |
| Total initial investment | $113K | $170K |
Source: ChiroWay 2026 FDD, Items 5 and 7[2]. “Equipment, build-out, other” is computed as total minus disclosed line items above.
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $113K – $170K
- Top 40% of category vs category
- Liquid capital req'd
- $23K – $33K
- Top 40% of category vs category
- Franchise fee
- $33K – $33K
- Top 40% of category vs category
- Royalty
- 3.3%
- typical 6–8%
- Ad fund
- Brand Fee: currently $400 per month (flat fee); franchiso…
- Total fee load
- 3.3%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 3.3% of gross sales |
| Technology fee | $100 |
| Transfer fee | $5K |
| Renewal fee | $5K |
| Total fee load | 3.3% of rev |
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
ChiroWay makes no financial performance representation in Item 19 of its FDD - a voluntary item under the FTC Franchise Rule - so no unit revenue figures are disclosed. The return models need a revenue figure to start from, and the operating costs that turn gross sales into a profit are in no FDD. Enter your own and the calculator runs on your assumptions — nothing here is modelled until you do.
Returns model · single-unit ROIC
What would one ChiroWay unit return on the cash you put in?
Illustrative category typicals — not sourced to any filing, survey or sample. Replace them with figures from franchisee validation calls before you rely on the output.
Unlevered ROIC · per unit
Your modelled return on total invested capital, before any debt financing.
—
An FDD discloses gross sales, not profit. We hold no sourced figure for annual revenue, ad fund rate, COGS, labour, rent / occupancy and other operating costs, and will not substitute an assumed one. Enter your own and the model runs on your assumptions.
These models are for research and scenario planning only. Not investment advice. Actual results depend on your specific location, management, and market conditions. Consult a franchise attorney and accountant before signing any franchise agreement.
Item 19 · Source: 2026 FDD
Financial Performance
No financial performance representation
This franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that.
Item 20 of the FDD lists current and former franchisees; asking them directly is the standard way to fill this gap.
Operator outlook
What the numbers say
Data-driven interpretation of this brand's financial disclosures, fee structure, and system trajectory.
Fee burden
Total ongoing fee load of 3.3% — below the Healthcare median of 8.0%.
Disclosure
This franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that. Item 20 of the FDD lists current and former franchisees; asking them directly is the standard way to fill this gap.
Operator retention
System expanding at 33.3% CAGR over 3 years across 16 units — operators are staying and new ones are joining.
Source: FDD Item 19 financial performance representations and publicly filed FDD data. Past performance is not indicative of future results. Verify all figures with the franchisor and current franchisees before making any investment decision.
vs Healthcare medians
How ChiroWay Compares
Category median of published Healthcare brands that report the figure; the middle half spans the 25th to 75th percentile and n counts the brands behind it. Medians are used because a few very large systems pull an average far from the typical brand. Revenue is disclosed gross sales, not profit.
Is the system healthy?
Source: FDD 2026 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 16
- Opened
- 5
- Last reporting year
- Closed
- 3
- Terminated
- 0
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 0
- Term expired, not renewed (per Item 20)
- Turnover rate
- 18.8%
- Company-owned
- 1
- Corporate units in the system
- % franchised
- 92%
- vs corporate-owned
- Net growth (3-yr)
- +33.3%
- Net unit change over 3 years
- 3-yr CAGR
- +33.3%
- Compounded over last 3 years
Last fiscal year · Item 20 exits and transfers
- Terminated
- 0
- Not renewed
- 0
- Transferred
- 0
- Reacquired
- 0
- Franchisor bought back
- Projected new
- 9
- Franchisor's next-year forecast
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 12 · 3 states reported
The Territory Map
FDD Item 12 reports the state count, but the specific list isn't in our current data. The map will appear once we re-extract from the FDD or enough franchisee contacts are available.
3
states with franchisees (per FDD Item 12)
Where the owners are · Item 20 owner list
0 current owners across 0 states; 3 former (terminated, transferred or not renewed) listed separately.
Counts only, from the list the franchisor prints in Item 20. Names and phone numbers are for your own due diligence and are not shown here.
Fast growth in a small system. Newer franchisors expanding quickly may not yet have the support infrastructure of larger systems.
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA 7(a) and 504 loan disclosures, public data unique to FranchiseVerdict.
- Total loans
- 14
- Loan volume
- $1.1M
- Median loan
- $126K
- 50th percentile
- Charge-off rate
- Limited · 14 loans
- Limited SBA coverage: 14 loans, rate hidden until 10 have resolved and loans reach 2% of franchised units
Historical SBA 7(a) lending data, not predictive of future performance. How SBA charge-off rates are calculated
- Repayment rate (PIF)
- Limited · 14 loans
- 5-yr charge-off
- 0.0%
- Loans approved 2021+
- Active lenders
- 7
- Defaults
- 0
- Typical loan rate
- 9.7%
- avg rate to borrowers
- Franchised industry avg
- 8.4%
- n=475 loans
- Jobs supported
- 20
- 2.0 per loan
- Lender concentration
- 40%
- top lender's share
Borrower mix: 100% went to startups / new businesses, 0% to established operators
Franchise vs independent — in offices of chiropractors, franchised businesses charge off at 8.4% vs 12.9% for independents — franchising is associated with 35% lower SBA default risk in this category.
Top lenders financing ChiroWay franchisees
Showing 3 of 7 lenders. The full breakdown — every lender, state distribution, interest rates & risk ratings — is in the SBA Lending Report below.
Explore lender portfolios on Bank Reports or regional data on State Reports.
Lender network · 7(a) + 504
SBA Lending Report
Full lending analysis for ChiroWay from SBA 7(a) FOIA data.
- Principal loss rate
- 0.0%
- Avg SBA guarantee
- 77%
- Avg interest rate
- 9.68%
- Lender concentration
- 40.0%
- Job velocity
- 2.0 per $100K
- NAICS benchmark
- 6.0%
- NAICS 621310
- Jobs supported
- 20
Top SBA lendersTop lender holds 40% of loans
| # | Lender | Loans | Volume | Default % |
|---|---|---|---|---|
| 1 | Citizens State Bank | 4 | $270K | N/A |
| 2 | United Midwest Savings Bank National Association | 3 | $450K | N/A |
| 3 | First National Community Bank | 1 | $125K | N/A |
| 4 | The First National Bank in Sioux Falls | 1 | $126K | N/A |
| 5 | Stearns Bank National Association | 1 | $50K | 0.0% |
Geographic failure vector
| State | Loans | Defaults | Rate |
|---|---|---|---|
| WIWisconsin | 5 | 0 | 0.0% |
| MNMinnesota | 2 | 0 | -- |
| TXTexas | 2 | 0 | -- |
| SDSouth Dakota | 1 | 0 | -- |
SBA 7(a) lending trend
Borrower profile
Source: SBA 7(a) + 504 FOIA loan-level data, matched by FranchiseVerdict
What could kill this investment?
Source: SBA 7(a) FOIA · FDD Items 3, 21
Risk analysis
FranchiseVerdict rating + FDD Items 3, 4, 8, 16, 21
Risk & Legal
ChiroWay is an early-stage, micro-brand healthcare franchise with minimal financial transparency, unproven unit economics, and undisclosed profitability metrics that warrant cautious due diligence before commitment.
Litigation (Item 3)
Subject: officers or affiliates. The franchisor is not a named party in these cases.
No litigation disclosed in Item 3
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · CliftonLarsonAllen LLP
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Item 21 audited financial statements (Exhibit B) are present in the FDD but the statement pages are image-only and did not OCR into the source text; no balance sheet, revenue, net income, or auditor name could be extracted. Item 19 contains no financial performance representation.
Supplier relationship · Items 8 & 16
- Franchisor sells you products: Yes
- Kickbacks from required suppliers: Yes
- Must buy proprietary products: Yes
- Restricted to system-approved products: Yes
Score breakdown · what drove the 66 / 100 verdict
- 01MINORNo Item 19 financial disclosure — unable to verify actual unit profitability or average revenues despite $113k-$170k investment requirement
- 02MEDModest unit growth of 15.4% YoY with only 16 total units suggests a micro-brand with limited scale and unproven business model replicability
- 03MINORMinimum Systems Fee structure alongside 3.3% royalty is vague — actual take-home profitability unclear without knowing fee threshold and average revenues
- 04MINOR5-year term is shorter than industry standard (10 years typical), increasing franchise agreement renegotiation risk
- 05MINORHealthcare-adjacent business model carries regulatory, licensing, and insurance complexity not addressed in available data
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 3.3% of sales (royalty + ad fund), before rent and labor.
Source: FDD 2026 · Items 11, 12, 17
FDD Items 12, 15, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 5 years |
|---|---|
| Renewal term | 5 years |
| Allowed renewalsℹ | 2 |
| Territory type | Protected territory |
| Protected territory | Yes |
| Exclusive territoryℹ | No |
| Territory radius | 2 mi |
| Online sales rights | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Not allowed |
| Owner-operator | Required |
| Non-compete (years)ℹ | 2 years |
| Non-compete (miles)ℹ | 10 mi |
| Right of first refusalℹ | Yes |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Curable defaultsℹ | 2 |
| Mandatory arbitration | Yes |
| Arbitration location | St. Paul, Minnesota |
| Governing law | MN |
| Litigation count | 0 |
View Item 3 litigation summary
No litigation disclosed in Item 3
Items 10, 11
Training & Operations
- Classroom training
- 76 hrs
- On-the-job training
- 92 hrs
- Training location
- Electronically, Woodbury MN, or the Center location
- Ongoing training
- Required
- Time to open
- 6 mo
- From signing to launch
- Site selection
- Franchisee with franchisor approval/consent
- Franchisor financing
- Offered
- Item 10
- POS system
- Proprietary Software; QuickBooks Online
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: Proprietary Software; QuickBooks Online
Item 20 · call current owners
Franchisee Contacts
3 owners to call
Name · phone · city · state. Extracted from FDD Item 20
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a ChiroWay franchise?
The total investment to open a ChiroWay franchise ranges from $113K – $170K, with an initial franchise fee of $33K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do ChiroWay franchise owners earn?
ChiroWay makes no financial performance representation in Item 19 of its FDD - a voluntary item under the FTC Franchise Rule - so no unit revenue figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that. Item 20 of the FDD lists current and former franchisees; asking them directly is the standard way to fill this gap.
Who owns ChiroWay?
ChiroWay is franchised by ChiroWay Franchise, LLC. Source: FDD Item 1, 2026 filing.
What is Item 19 in the ChiroWay FDD?
The FDD section where a franchisor may disclose financial performance of its outlets. Disclosure is optional and formats vary; figures are typically gross sales, which is revenue before expenses, not profit. FranchiseVerdict extracts these figures directly from the ChiroWay FDD and qualifies whose outlets they describe.
What is ChiroWay's franchise failure rate?
SBA 7(a) loan charge-off data is not available for ChiroWay (fewer than 10 loans on file). Charge-off rates are one way to gauge franchise risk, but not all franchise loans go through the SBA program. We recommend reviewing turnover and closure data in the FDD and speaking with current franchisees.
How many ChiroWay franchise locations are there?
As of their most recent FDD filing, ChiroWay has 16 total units in the United States, including 15 franchised units and 1 company-owned units. 5 new units were opened in the latest reporting year.
Is ChiroWay a good franchise to buy?
FranchiseVerdict rates ChiroWay as a B-grade franchise with a verdict score of 66 out of 100 (higher is better). The grade is a deterministic score built from six weighted dimensions — financial health, unit economics, unit growth, scale, legal, and transparency — then calibrated against SBA loan charge-off rates and FDD age. Transparency is one of the six, so a filing that discloses less scores lower on that dimension than one that discloses more. Our rating is based solely on publicly available FDD and government data; we recommend speaking with current franchisees before making any investment decision. This is not investment advice.
Data sourced from public FDD filings and SBA 7(a) FOIA records. Not financial advice.
For franchisors
Are you the franchisor?
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Data extracted from public FDD filings and SBA 7(a) loan disclosures (FOIA). This information is provided for research purposes only and does not constitute financial, legal, or investment advice. Verify all figures with the franchisor's current Franchise Disclosure Document before making any investment decision.