Foot Solutions founder Ray Margiano, Ph.D., has become somewhat of a franchise pioneer in his 20 years working with pedorthics and footwear. During that time, he’s been more than happy to take up the flag for better podiatric health. In fact, Margiano has dedicated his career to availing a variety of health products that are allowing people to live more active, comfortable lives. His first franchise, HeelQuik, eventually grew to over 700 stores in 34 countries. Now he’s turning his sights to Foot Solutions.
Margiano’s new concept, still being offered to franchisees as a “ground floor” opportunity, is already up to 250 locations in its seventh year of operation. “We’re recognized by all the major players from both footwear and franchising,” says Margiano, “and we’re still at the beginning of our business life cycle.” Conceptualized in 1995 and finally introduced at the end of 2000, Foot Solutions focuses on the health and wellness of baby boomers, who are currently growing exponentially as a market across the United States.
As you’d imagine, Foot Solutions is primarily centered on proactive footwear and assistance for knee, hip and back pain. As a franchisee, entrepreneurs would follow a proven business system and run their own Foot Solutions locations. These locations provide products that are beneficial to a number of people. Also, because the business is medically-based, it’s virtually unaffected by the rise and fall of the economy. Although the focus is on fit and support, having attractive and stylish footwear is also important.
“We’re dealing with the fastest-growing target market in the country,” says Margiano. “I wanted to get my business out there to offer the products to those who needed them while at the same time putting a successful business into the right people’s hands.” Margiano feels that these “right people” can come from practically any walk of life, since the major qualities needed for success in Foot Solutions are dedication and drive, but he is always excited to grab up franchisees with at least a little business experience. “It’s for people that want out of the rat race,” he says. “It’s a great mix too. We have a large number of female franchisees, as well as husband and wife teams. It’s for anyone who wants the sense of fulfillment that comes from working in the health industry.”
As a franchise, there are a couple of points that make the Foot Solutions opportunity both appealing and unique. For one, there is little or no competition in the market of specialized and customized pedorthic footwear – it’s a “cottage industry” with no major force. This simple fact illustrates the potential for a franchisee to more or less own the market for these types of products. The second point, which Margiano is eager to make known, is that there is little place for this company to go but up. “Even at the ground floor level, we’re increasing at the rate of about 50 franchise stores a year.” Margiano goes on to say that agreements have already been signed for franchising in 18 countries, with plans for more global expansion already in the works.
As you would expect from an opportunity boasting such impressive particulars, becoming a Foot Solutions franchisee does take a serious level of commitment. “You’re working with people’s health,” says Margiano. “You don’t have to be a doctor or a podiatrist, but you and your employees are required to be certified pedorthists. It’s this kind of training that allows us our impeccable reputation and our ability to own the market.” In order to provide franchisees and their employees the best possible training, Foot Solutions has created one of only 12 schools certified to teach pedorthics, and the only one of these operating in the Southeast.
When you sign on to become a Foot Solutions franchisee, you’re introduced to your new business with a two-and-a-half week seminar at the Foot Solutions Pedorthic Training Center. There, new franchisees learn terminology, concepts and, most importantly, the techniques that will allow them to make modifications and adjustments to shoes and orthotics to insure a proper fit. Along with the more medical-related training, the seminar covers marketing, customer service, inventory control and other business basics.
After this initial training, the new franchisee is assigned a board-certified consultant to spend the first week of operation in the store, showing the franchisee how to apply his or her new knowledge and how to properly approach day-to-day operation of the location. Additional support is available from various field representatives and associates on an as-needed basis. There are also supplemental instruction materials, monthly portal calls and regional training seminars. “In order to make sure that our franchisees operate to the best of their ability, it’s our job to make sure they are prepared, updated and enthusiastic,” says Margiano.
Because of the uniquely profitable nature of the Foot Solutions opportunity, hundreds of interested entrepreneurs from all over the world are eager to join the Foot Solutions family. In order to get started, Margiano advises around $225,000 be available. “Most franchisees use about $50,000 of their own money,” he says. “loans and financing are becoming more frequent as people of all income levels learn about the opportunity’s benefits.” Margiano has seen a lot of success come out of his opportunity, and he’s proud to report a cost-to-sales rate that, based on their buying group and fulfillment company, is averaging around 35 percent.
Besides eager franchisees, Foot Solutions has grabbed the attention of some other pretty important people too. “We just won the regional Small Business of the Year Award last week,” says Margiano. “After this, we move on to states and nationals. It’s a very exciting time for us and our opportunity.”
For entrepreneurs, the excitement is just a few short steps away.
Contact Information
Opportunity: Franchise Pedorthic Supply
Contact: Debbie Fiorentino
Phone: (770) 955 – 0099 Ext. 204
1-866-338-2597
