Published on 16 Apr 2021 Time 3 min read Last update by 29 Jan 2024

Sondermind Franchise Review

sounder3 1

SonderMind Franchise is a mental health company supporting mental health professionals so they may better focus on what they are most passionate about – supporting their clients.

SonderMind finds the best therapist for patients’ unique needs. They have a rapidly-expanding national network of licensed, in-network behavioral health providers, specializing in all areas of practice. The patient can have an appointment booked within 24 hours of contact.

MicrosoftTeams image 6

They strategically partner with all major insurance providers, as well as employer & employee assistance programs and other healthcare organizations, as part of their efforts to make therapy accessible for all.

sondermind logo

Sondermind Franchise Management Team

Sean Boyd started Sondermind in 2009 as a solution to a problem he faced being a therapist. He wanted to have his own practice and help other therapists with no business experience as well.

He and his college friends got together and started the company in order to help therapists to have another alternative instead of going to an agency or nonprofit.

Franchise Behavorial Health Coworking Industry Analysis

Franchise Strengths

  • Operationally simple
  • Recurrent revenue streams
  • Ability to have a manager run the day-to-day of the business
  • Services are not seasonal

Franchise Weaknesses

  • Operates in a competitive environment with relatively low barriers of entry
  • Reliant on marketing and community engagement
Speak to franchise specialist

Franchise Opportunities

  • In 2009, spending from all public and private sources on mental and substance use disorders (“M/SUD”) totaled $171.7 billion, and is expected to grow to $280.5 billion by 2020. Growth in this spending is expected to average 4.6% per year.
  • The mental health therapy services market in the United States is generally distributed through a system of individual, local providers or small groups of therapists that practice out of a single office complex.
  • From 2009 to 2020, the public share of mental health treatment spending is expected to increase from 60% to 63%.

Franchise Threats 

  • Other nearby competition and small practices
  • Ability to be treated through an online or in-home setting
sondermind photo

How Much is a Sondermind Franchise?

Sondermind Franchise cost ranges from $61,200 to $235,500 according to the 2019 FDD.

Estimated Initial Investment

ItemEstimated Amount (in USD)When DueTo Whom Payment is to Be Made
LowHigh
Initial Franchise Fee$25.000$30.000When you sign the Franchise AgreementFranchisor
Utility & Security Deposits1.00020.500Upon Signing leaseThird Parties
Rent (3 Months)9.00045.000As incurredThird Parties
Initial Advertising Expense4.4007.000As incurredThird Parties
Signage1.0007.500As incurredThird Parties
Leasehold Improvements5.00050.000As incurredContractors, Vendors, Suppliers
Furniture & Fixtures5.00025.000As incurredThird Parties
Computer Hardware & Software1.2505.000Before OpeningThird Parties
Office Equipment & Supplies5003.000Before OpeningThird Parties
Stationery & Initial Marketing Materials Package5005.000As incurredThird Parties
Business Licenses & Permits2501.000Before OpeningThird Parties
Legal and Professional Fees1.5007.500As incurredThird Parties
Insurance5001.500As incurredThird Parties
Initial Training Expenses3002.500As incurredThird Parties
Additional Funds (3 months)6.00025.000As incurredThird Parties
Total$61,200$235,500

 

Speak to a franchise specialist today.

Discover which franchise is best for you.

Speak to a franchise specialist today

Visit Franchise Profiles mentioned

See more profiles

Access to unbiased franchise data.

Easy to access franchise data for everyone from first time franchise buyers to institutional investors buying whole franchise systems to everyone in between.

Submit
Feedback