- 2023 Franchise 500 Rank
N/R Not ranked last year
- Initial investment
$85K - $150K
- Units as of 2022
16 100.0% over 3 years
Lifeologie was founded in 1999 with one goal in mind: bring creative and new solutions to life's problems. This business has a unique collaborative model, where hundreds of licensed clinicians come together to dispense their experience via this platform.
Lifeologie started operating in a single location with pleather chairs and a copier that had seen better days. It has since grown to become one of the United States southwest's more well-known and innovative training and therapy facilities.
Lifeologie specializes in providing a broad spectrum of counseling therapies that cover relationship and family issues, mental health, eating disorders, and more.
Why You May Want To Start a Lifeologie Franchise
Lifeologie believes that the collaborative approach it is based on works for both clients and the business. Your patients will be able to choose from a vast host of certified and experienced health practitioners to cater to their individual needs. The broad spectrum of services Lifeologie provides could make your business a one-stop shop for counseling and training services.
As a franchisee, you should be empathetic and have excellent business acumen. Professionalism in this niche is also key to running a growing business. Additionally, you can choose to start a new Lifeologie practice or integrate your current counseling practice into a Lifeologie branded practice.
As a franchisee with Lifeologie, you may enjoy the benefits that come with working with an established brand and a proven system. The unique collaborative working model is meant to create a culture of teamwork, helping both the clients and the business to thrive. Franchise locations are nationwide, and protected territories are available.
What Might Make a Lifeologie Franchise a Good Choice?
Opening a Lifeologie franchise may have a more predictable outcome than investing in a completely new brand that may struggle to thrive in an already crowded and competitive industry.
If awarded a franchise, Lifeologie provides training in the form of weekly business coaching.
To be part of the Lifeologie team, you should make sure you're financially ready for an initial investment made up of a franchise fee and other startup costs. In addition, you should prepare yourself for ongoing fees that will include royalty and renewal fees. Franchisees will also need to meet the company's set net worth and liquid capital requirements.
Lifeologie has also partnered with third-party financial lenders who may help you cover the costs of the franchise fee, startup, inventory, equipment, accounts receivable, and payroll.
How To Open a Lifeologie Schools Franchise
As you decide if opening a Lifeologie franchise is the right move for you, make sure you take time to explore the opportunity. Research the brand and your local area to see if a Lifeologie franchise would do well in your community. While competition is healthy, too much of it may not allow for the most possible growth.
Before making any financial commitment or signing an agreement, you must perform your due diligence and establish if this is the right opportunity for you. As part of your due diligence, you may want to speak to existing franchisees and ask the Lifeologie franchising team questions.
|Industry||Health & Wellness|
|Related Categories||Miscellaneous Health Services, Miscellaneous Personal-Care Businesses, Miscellaneous Services|
|Parent Company||WeFixBrains LLC|
|Leadership||Melanie Wells, Founder & CEO|
3303 Lee Pkwy., #102
Dallas, TX 75219
|Social||Facebook, LinkedIn, Instagram|
|Franchising Since||2015 (8 years)|
|# of employees at HQ||8|
This company is offering new franchisees worldwide.
|# of Units||16 (as of 2022)|
Information for Franchisees
Here's what you need to know if you're interested in opening a Lifeologie franchise.
Financial Requirements & Ongoing Fees
Here's what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.
Initial Franchise Fee
Definition: The initial fee paid to a franchisor to join their system
What you need to know: Found in Item 5 of the FDD, this may be a flat fee, or may vary based on territory size, experience, or other factors.The franchise fee is an up-front (one-time) cost that a new franchisee pays to the franchisor. This fee is usually due at the signing of the franchise agreement and covers the right to use the franchisor's trademarks, name, and related business systems.
Definition: The total amount necessary to begin operation of the franchise
What you need to know: The initial investment includes the franchise fee, along with other startup expenses such as real estate, equipment, supplies, business licenses, and working capital. This is outlined in a chart in Item 7 of the FDD, showing a range of possible costs from low to high.
|$85,000 - $150,000|
Net Worth Requirement
Definition: The minimum net worth you must have in order to qualify to become a franchisee of this company
What you need to know: Net worth is the value of a person's assets minus liabilities. Assets include cash, stocks, retirement accounts, and real estate. Liabilities include items like mortgages, car payments, and credit card debt.
Definition: The minimum liquid capital you must have available in order to qualify to become a franchisee of this company.
Definition: A discount or other incentive offered to military veterans who buy a franchise with this company.
|25% off franchise fee|
Definition: A ongoing fee paid to the franchisor on a regular basis.
What you need to know: Most franchisors require franchisees to pay an ongoing royalty fee, which is detailed in Item 6 of the FDD. This fee is typically a percentage of weekly or monthly gross sales, but may also be a flat weekly, monthly, or annual fee.
Term of Agreement
Definition: The length of time your franchise agreement will last.
What you need to know: Franchise terms are typically anywhere from 5 to 20 years in length, but are sometimes instead dependent on factors such as the term of your lease. Once your term is up, you may have the option to renew your agreement, typically for a smaller fee than the original franchise fee.
|Is franchise term renewable?||Yes|
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
|In-House Financing||Lifeologie offers in-house financing to cover the following: franchise fee|
|Third Party Financing||Lifeologie has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, payroll|
Training & Support Offered
Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.
|Classroom Training||20 hours|
Meetings & Conventions
Security & Safety Procedures
Franchisee Intranet Platform
Additional details about running this franchise.
|Is absentee ownership allowed?||No|
Can this franchise be run from home/mobile unit?
Definition: The business can be run from your home and/or a vehicle, and it is not necessary to have a retail facility, office space, or warehouse.
Can this franchise be run part time?
Definition: This business can be run by the owner on a part-time basis (less than 40 hours per week) and/or as a side business; it is not necessary for the business to be open/run full-time.
|# of employees required to run||2|
Are exclusive territories available?
Definition: An exclusive territory is a fixed area in which you are given the right to operate and in which no other units of the same franchise may be opened.
What you need to know: Territory size may be based on factors such as radius, population size, zip codes, and more. Details can be found in Item 12 of the FDD.
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