Invest in a Franchise and Break Through Your Discontent

Interview with James Hilovsky – Episode 426

In this interview, James Hilovsky explains why physicians should invest in a franchise as a way to overcome discontent and diversify their incomes.

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After 25 years in the restaurant industry, growing Pieology from one store to 100 locations and partnering with NFL players on new concepts, he now helps others find the right franchise fit and avoid common pitfalls. He outlines why franchises offer stronger support than starting from scratch, which industries suit healthcare professionals, and how the process unfolds from budgeting to opening.

Our Episode Sponsor

If you’re a physician with at least 5 years of experience looking for a flexible, nonclinical, part-time medical-legal consulting role…

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So, if you’re a physician with 5+ years of experience and you want to find out exactly how to add $100K in additional consulting income in just 12 months, go to arminfeldman.com.

Our Sponsor

This podcast is sponsored by the Physician Executive MBA Program at the University of Tennessee Knoxville’s Haslam College of Business.

Thinking about a nonclinical career path? In just one year, our physician-only MBA gives you the business and leadership skills to pivot, whether into administration, consulting, entrepreneurship, or beyond.

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For Podcast Listeners

• John hosts a short weekly Q&A session on topics related to physicians’ careers and leadership. Each discussion is posted for you to review and apply. Sometimes, all it takes is one insight to take you to the next level of your career. Check out the Weekly Q&A and join us for only $5.00 monthly.
• If you want access to dozens of lessons dedicated to nonclinical and unconventional clinical careers, you should join the Nonclinical Career Academy MemberClub. For a small monthly fee, you can access the Weekly Q&A Sessions AND as many lessons and courses as you wish. Click the link to check it out, and use the Coupon Code “FIRSTMONTHFIVE” to get your first month for only $5.00.

Invest in a Franchise: Better Than Starting From Scratch

Franchises remove much of the trial and error of starting a business. The franchisor has already built the systems, forms, and operating procedures, and continues to provide support in marketing, operations, and problem-solving. Franchise owners also benefit from a peer network that shares strategies, benchmarks, and lessons learned, combining corporate structure with real-world experience to prevent costly mistakes.

James works with roughly 600 franchises across home-based, service, retail, and brick-and-mortar industries. His no-cost consulting covers budget planning, industry selection, reviewing disclosure documents, connecting with franchisees for validation, and exploring funding options such as HELOCs, 401(k) rollovers, self-funding, and SBA loans.

Franchises That Appeal to Healthcare Professionals

Healthcare professionals often choose industries they already understand. Some transition into IV drip therapy, senior daycare, dog grooming, or medical billing franchises. Home care and senior care remain especially strong due to high demand. Franchise fees average around $50,000, with ongoing royalties of 5–8% and marketing contributions of 1–2%. Build-out times range from 30–60 days for home-based operations to up to a year for education and healthcare related options that require state licensing and real estate purchase and build out.

James advises having an attorney review the franchise agreement, though some clients handle it themselves or use ChatGPT for a preliminary check. His website features a business assessment tool that matches users with suitable franchise types based on their strengths in marketing, customer service, or management.

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