My guest on the show today is Peter Holt, the CEO of The Joint Corp. The Joint is a 1.4 billion dollar market cap company that operates and franchises a chain of chiropractic offices. The company currently has over 600 total locations in about 35 states. Peter took the reins as CEO of The Joint in 2016 and has overseen a stock that has appreciate from under $3 in 2016 to over $90 today. In fact, the company was distinctly unprofitable when Peter became CEO but has since started generating very healthy margins with limited capital expenditures. Given all of the recent success, I was excited to talk with Peter about:
– The demand drivers that have been propelling the company over the last five years;
– The elements that have allowed the stock to appreciate so rapidly in recent times;
– How the company tries to distinguish itself from competitors and build a moat;
– How he goes about making sure the company doesn’t grow too fast; and
– How Peter thinks about creating win-win relationships with franchisees.
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