ARIZONA, United States — Modern Acupuncture has won the backing of actress Cameron Diaz who joins Los Angeles-based private equity firm Strand Equity as investors in the fast-growing franchise chain.
The brand, which currently operates 49 locations across 16 states in the US, plans for 11 additional locations to open in the country by the end of 2019, as it continues its mission of making acupuncture more accessible and affordable.
“We feel very fortunate to have found like-minded partners in the team at Strand Equity,” commented co-founder and CEO, Matt Hale.
“We are confident that our alignment with this new partnership will accelerate our already rapid growth and mission to make people’s lives better through the benefits of this 2,500-year-old medicine,” he added.
First launched in 2016 by several key leaders who built and grew The Joint Corp — franchisor of The Joint Chiropractic; the largest chiropractic franchise in the world — Modern Acupuncture was born out of a recognition that no one was delivering on the ancient practice, or leading the growth of the industry.
“The profession was fragmented and accessibility simply was not there,” co-founder Chad Everts told Welltodo.
“This opportunity, we felt and still feel, was incredible. Acupuncture itself has not changed, however, in creating Modern Acupuncture, we sought to make this service more accessible and affordable for all.”
Through Modern Acupuncture, he says that the ancient practice has been repackaged to suit the needs of the modern consumer.
“We’re providing it in a more convenient form for acupuncture enthusiasts and newcomers alike to experience the results first-hand,” he argued.
Instead of being located in medical buildings, the brand is positioning itself in retail and shopping centres to meet people where they already exist. This, according to Everts, is encouraging trial and then the results continue to drive demand.
In addition, the startup has invested heavily in marketing to create bold, vibrant and eye-catching marketing materials in an attempt to create a strong brand signature and grab attention in the crowded wellness space.
A recent campaign “Let’s Tingle” targets those who’ve never tried acupuncture, showcasing it as a natural and evidence-based solution to the stressors of the modern lifestyle. The hope is that is can propel acupuncture into the 21st-century mindset.
Speaking about Stand Equity’s minority investment, co-founder Seth Rodsky highlighted the impressive growth Modern Acupuncture has experienced in such a short time.
“The brand is pioneering a movement towards natural wellness unlike anything in the market,” he said in a statement. With continued education and accessibility, that growth is something Everts believes will continue.
“Given our experience from The Joint, although we are only a three-year-old business we have the know-how of a 10-year-old company and are investing in the tools, marketing materials and more that will attract skilled franchisees as well as propel the future of the acupuncture space,” he told Welltodo.
“In our opinion, a rising tide lifts all ships and we have such a strong conviction for the power of acupuncture that we want this space to further grow and develop to bring these natural remedies to more people nationwide.”