Onward Physical Therapy Franchise Cost, Revenue & Review 2026
Data from FDD filing
Analysis by FranchiseVerdict Research · Methodology
Onward Physical Therapy is a healthcare franchise operating outpatient physical therapy and rehabilitation clinics. Franchisees run the clinics, managing therapists, patient scheduling, treatment, and insurance billing.
FranchiseVerdict summary · 2026
A Onward Physical Therapy franchise requires a total initial investment of $25K – $123K and an ongoing 10.0% royalty[2]. The 2026 FDD does not disclose unit-level revenue (no Item 19). FranchiseVerdict grade: D (Below average), an editorial assessment, not investment advice. Run a live ROI scan →
Data last verified · figures per the 2026 FDD issuance
Overview
- Investment
- $25K – $123K
- 3rd pct Healthcare
- Avg gross sales
- N/A
- Royalty
- 10.0%
- 55th pct Healthcare
- Units
- 49
- 56th pct Healthcare
- SBA charge-off
- N/A
Quick verdict · Healthcare · color = vs category peers
Green = favorable by >10% vs Healthcare avg · 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 $25K – $123K, 10.0% ongoing royalty.
- RETURNSPages 199-204 of this image folder contain Exhibit I (Franchise Disclosure Questionnaire), Exhibit J (State Effective Dates), and Exhibit K (Receipts) for Onward Physical Therapy, LLC. None of these pages contain the audited financial statements (Exhibit B - balance sheet, income statement, or Independent Auditor's Report). No financial figures or auditor name are extractable from the provided pages.
- RISKVerdict D (Below average), verdict score 34/100 (higher is better).
- DATANo Item 19 financial performance representation. Without franchisor-disclosed revenue data, you'll need to gather unit economics directly from existing franchisees.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- Onward Physical Therapy, LLC
- Predecessor
- or parent
- Prior franchisor entity
- CEO title
- Chief Executive Officer
- Zachary Long
- Incorporated in
- NC
- HQ
- 529 W. Summit Ave. Suite 1B, Charlotte, NC 28203
- Auditor
- Kezos & Dunlavy
- Audited financials
- Franchisor revenue
- $511K
- vs $291K prior year
Affiliated brands
- Onward Charlotte
Other brands the franchisor or its parent operates (Item 1).
Overview
About
- CEO
- Zachary Long
- Headquarters
- NC
- Founded
- 2019
- FDD year
- 2026
- States available
- 21
Can you afford it, and what does the money buy?
Entry cost runs 82% below the typical healthcare franchise.
Source: FDD 2026 · Items 5–7
Full Item 7 breakdown13 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| Initial Franchise Feenot refundable | — | — | |
| Equipmentnot refundable | $10K | $25K | |
| Furniture, Fixtures, Equipment and Suppliesnot refundable | $1K | $10K | |
| Computer / POS System and Office Supplies and Equipmentnot refundable | $3K | $5K | |
| 3 Months' Lease Paymentsnot refundable | $6K | $15K | |
| Leasehold Improvementsnot refundable | $0 | $25K | |
| Utility and Security Deposits | $0 | $5K | |
| Signagenot refundable | $500 | $5K | |
| Licenses and Permitsnot refundable | $100 | $500 | |
| Insurancenot refundable | $100 | $1K | |
| Professional Feesnot refundable | $0 | $1K | |
| Trainingnot refundable | $2K | $10K | |
| Additional Funds - 3 Monthsnot refundable | $3K | $20K | |
| Total initial investment | $25K | $123K |
Line items extracted from FDD Item 7. Ranges reflect the franchisor's stated low and high per line. Total is the sum of line-item lows / highs — actual costs may fall outside this range depending on market and build-out scope.
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $25K – $123K
- Top 40% of category vs category
- Liquid capital req'd
- $3K – $20K
- Top 40% of category vs category
- Franchise fee
- N/A
- Top 40% of category vs category
- Royalty
- 10.0%
- percentage · typical 6–8%
- Ad fund
- 0.0%
- typical 3–5%
- Total fee load
- 10.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 10.0% of gross sales |
| Marketing / ad fund | 0.0% of gross sales |
| Technology fee | $0 |
| Transfer fee | $40 |
| Total fee load | 10.0% of rev |
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
Onward Physical Therapy did not disclose financial performance in FDD Item 19. The ROIC and return models require Item 19 revenue. Without it all inputs are estimates. You can still run the calculator with your own assumptions by entering an expected revenue figure.
Returns model · single-unit ROIC
What would one Onward Physical Therapy unit return on the cash you put in?
Unlevered ROIC · per unit
Estimated return on your total franchise investment, before any debt financing.
132%
Above the 30–60% band. Verify revenue is per-unit average
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
Pages 199-204 of this image folder contain Exhibit I (Franchise Disclosure Questionnaire), Exhibit J (State Effective Dates), and Exhibit K (Receipts) for Onward Physical Therapy, LLC. None of these pages contain the audited financial statements (Exhibit B - balance sheet, income statement, or Independent Auditor's Report). No financial figures or auditor name are extractable from the provided pages.
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 10.0% (near the Healthcare average).
Disclosure
Franchisor chose not to disclose financial performance representations. You will need to gather unit economics directly from existing franchisees.
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 averages
How Onward Physical Therapy Compares
Is the system healthy?
Source: FDD 2026 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 49
- Opened
- 0
- Last reporting year
- Closed
- 0
- Terminated
- 0
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 0
- Term expired, not renewed (per Item 20)
- Turnover rate
- 0.0%
- Company-owned
- 1
- Corporate units in the system
- % franchised
- 0%
- vs corporate-owned
3-year detail · Item 20
- Opened (3yr)
- 0
- Closed (3yr)
- 0
- Terminated (3yr)
- 0
- Non-renewed (3yr)
- 0
- Transfers (3yr)
- 0
- Reacquired (3yr)
- 0
- Franchisor bought back
- Projected new
- 0
- Franchisor's next-year forecast
- Continuity rate
- 100.0%
- Units that stayed open
- Termination rate
- 33.3%
- Franchisor-initiated terminations
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 12 · 21 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.
21
states with franchisees (per FDD Item 12)
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA 7(a) and 504 loan disclosures, public data unique to FranchiseVerdict.
No SBA loan data available for this brand.
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
Onward Physical Therapy presents high execution risk due to pending Washington litigation, undisclosed going concern status, absence of financial performance data, and regulatory compliance failures across multiple states.
Litigation (Item 3)
1) Illinois AG: OPT voluntarily reported selling unregistered franchise in Illinois; accepted Assurance of Voluntary Compliance, paid $2,000 civil penalty (concluded Aug 2025). 2) Maryland Securities Commission: consent order for selling unregistered franchise; paid $5,000 civil penalty (pending completion). 3) Washington DFI: pending regulatory matter for selling two unregistered franchises.
Largest disclosed settlement: $5,000
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · Kezos & Dunlavy
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Supplier relationship · Items 8 & 16
- Franchisor sells you products: No
- Kickbacks from required suppliers: No
- Must buy proprietary products: No
- Restricted to system-approved products: Yes
- Can negotiate own supplier terms: No
Score breakdown · what drove the 34 / 100 verdict
- 01HIGHActive pending litigation in Washington state regarding unregistered franchise sales creates legal uncertainty and potential forced rescission liability
- 02HIGHGoing concern status is FALSE, indicating serious financial distress or operational viability questions at corporate level
- 03MINORNo Item 19 (average revenue/net income) disclosure prevents validation of ROI claims and suggests weak unit economics or poor performance data
- 04MINORMulti-state regulatory action pattern (Illinois, Maryland, Washington) indicates compliance failures and potential future enforcement actions
- 05MINORZero franchise fee model may indicate inability to generate upfront capital or desperation to recruit franchisees despite legal issues
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 10.0% 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 | 10 years |
|---|---|
| Renewal term | 5 years |
| Territory type | exclusive |
| Protected territory | Yes |
| Exclusive territoryℹ | Yes |
| Territory radius | 5 mi |
| Territory population | 50,000 |
| Online sales rightsℹ | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Not allowed |
| Owner-operator | Required |
| Non-compete (years)ℹ | 1 year |
| Non-compete (miles)ℹ | 10 mi |
| Right of first refusalℹ | Yes |
| RoFR response window | 30 days |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Curable defaultsℹ | 1 |
| Mandatory arbitration | Yes |
| Arbitration location | Charlotte, North Carolina |
| Jury trial waiver | Yes |
| Governing law | NC |
| Litigation count | 3 |
View Item 3 litigation summary
1) Illinois AG: OPT voluntarily reported selling unregistered franchise in Illinois; accepted Assurance of Voluntary Compliance, paid $2,000 civil penalty (concluded Aug 2025). 2) Maryland Securities Commission: consent order for selling unregistered franchise; paid $5,000 civil penalty (pending completion). 3) Washington DFI: pending regulatory matter for selling two unregistered franchises.
Items 10, 11
Training & Operations
- Classroom training
- 75 hrs
- On-the-job training
- 0 hrs
- Training location
- Virtual (Charlotte, NC or designated location)
- Ongoing training
- Required
- Time to open
- 12 mo
- From signing to launch
- Site selection
- joint
- Franchisor financing
- Not offered
- Item 10
- POS system
- Jane (EMR); also Google Workspace, MailChimp, Open Phone or Google Voice, Slack
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: Jane (EMR); also Google Workspace, MailChimp, Open Phone or Google Voice, Slack
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Onward Physical Therapy franchise?
The total investment to open a Onward Physical Therapy franchise ranges from $25K – $123K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Onward Physical Therapy franchise owners earn?
Onward Physical Therapy does not disclose average franchise owner earnings in their FDD Item 19. Not all franchisors are required to make financial performance representations. We recommend asking existing franchisees directly about their financial experience.
What is Item 19 in the Onward Physical Therapy 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 Onward Physical Therapy FDD and qualifies whose outlets they describe.
What is Onward Physical Therapy's franchise failure rate?
SBA 7(a) loan charge-off data is not available for Onward Physical Therapy (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 Onward Physical Therapy franchise locations are there?
As of their most recent FDD filing, Onward Physical Therapy has 49 total units in the United States, including 48 franchised units and 1 company-owned units.
Is Onward Physical Therapy a good franchise to buy?
FranchiseVerdict rates Onward Physical Therapy as a D-grade franchise with a verdict score of 34 out of 100 (higher is better), based on our analysis of investment costs, revenue data, SBA loan performance, and growth trends. 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
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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.