FOXBusiness:
Banyan Corporation announced today that its wholly owned subsidiary, Chiropractic USA, will offer its substantial database of information in an online forum catering to the abundant number of Chiropractic practitioners in the world.
Michael Gelmon, CEO of Banyan Corporation, stated: “This move is a natural extension of our Chiropractic USA Division and is expected to add approximately $1.4 million in annual service fees.” The Company expects to earn a yearly fee of $200 from subscribers, based on a conservative estimate of 1% of the 60,000 Chiropractors in the USA. The company will earn $120,000 monthly. In this effort, the Company is catering to those many practitioners who are asking for operational support, but cannot afford it and cannot justify signing up for long-term franchising contracts. “The online forum offers the key materials that we use to train and market our existing franchisees. Allowing others to take advantage of this ‘know-how’ in an online controlled environment, will keep overhead low and allow us to grow our revenue and services rapidly,” said Mr. Gelmon.