This article is authored by MOI Global instructor Edward Chang, Portfolio Manager at Pledge Capital, based in New York.
JYNT, a franchisor of chiropractic clinics in the United States, is a particularly compelling investment opportunity. I fell in love with the franchisor business model, when covering them on the sell-side. As Warren Buffet put it – “the best business is a royalty on the growth of others, requiring little capital itself.” JYNT is a stand-out among the franchisors, because it is on pace to clock three years of 20%+ system-wide same store sales growth. This is an incredibly rare feat, and, in my opinion, a reflection of the chain’s strong customer value proposition.
I personally experienced the benefit of visiting a chiropractor. For about a year in high school, I suffered from chronic lower back pain as a year-round runner. Since my family is strongly opposed to pain medications, I went to see a chiropractor. She explained that my lower back pain was caused by the pressure long distance running had put on my body. Since one of my legs was slightly longer than the other, one side was under consistent physical stress. One side of my lower back was stepping into help, and this was causing my lower back pain. But the issue was addressable. Every week, her manipulations helped alleviate my pain and her strength training recommendations ultimately eliminated my pain.
Members, log in below to access the restricted content.
Not a member?
Thank you for your interest. Please note that MOI Global is closed to new members at this time. If you would like to join the waiting list, complete the following form:
About The Author: Edward Chang
Edward is the founder and Portfolio Manager at Pledge Capital. He is a graduate of New York University Leonard N. Stern School of Business with a Bachelor’s degree in Finance & Accounting. He also completed a Master’s degree in accounting during the same time. Before founding Pledge Capital in 2016, he worked on the sell side at UBS Equity Research covering consumer retail companies. He had previous work experience covering a wide breath of companies on the buy-side as well. He is also a CPA.
More posts by Edward Chang