From automotive aftermarket chains to quick-service restaurants, forming partnerships with the health-care industry can benefit a franchise system on multiple levels.
From attracting new customers through the introduction of fresh product offerings to funding grants for medical research, there are many ways for a franchise system to enhance its visibility in any industry by forming strategic partnerships with the health-care industry.
According to the U.S. Department of Labor, the U.S. health-care industry consists of more than 580,000 individual businesses, most of which vary greatly in terms of size, staffing patterns and organizational structures. For example, nearly 77% of all health-care businesses are offices of physicians, dentists or other health-care practitioners. On the other hand, hospitals represent only 1% of all health-care businesses, but employ 35% of all health-care workers nationwide.
Any way one looks at it, the U.S. health-care industry has a huge economic footprint. It is one of the largest business segments in the country, generating estimated annual revenues of $1.6 trillion (Census Bureau), employing a workforce of more than 14 million (Department of Labor) and representing 5 percent of the nation’s gross national product (National Coalition on Healthcare). Beyond those economic indicators, the plain fact is that, in one way or another, the health-care industry repeatedly touches every American throughout his entire lifetime.
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