Side branch formation depends on the variety. Some make many side branches naturally while others do not make many branches at all. From the look of your plant it is not one that makes a lot of side branches naturally. It will probably grow a few new branches eventually but will never take on a nice full shape without some assistance.
You can force all varieties to become fuller, with more branches, by pruning the stems. Looking at your photo I would recommend that you cut off the top 1/3 of the plant. Make the cut 1/4 inch above where a leaf emerges from the main stem. That will cause a hormone cascade inside the plant that will stimulate two or more side branches to start growing. For the best shape with the most branches you would also prune the new branches when they are several inches long so that they too will make side branches.
At HVH we do this for you before we ship you the plants. Almost all of our plants have been pinched one or more times so that the side branches are already developing when you receive the plant. This helps the plant reach the flowering stage more quickly without you having to do anything that will slow it down. What you are looking at now is whether to leave the plant alone so it will flower before the end of summer but only have 1 stem, or to prune it so that it becomes fuller with many branches that will all have flowers. If you prune it, that will delay flowering by 2 to 3 months but even so is the best way to go so that the plant takes on an attractive shape and blooms a lot more in the future. The more stems, the more flowers you get.
For more info on pruning, please see the HVH web page on that topic at
http://www.hiddenvalleyhibiscus.com/care/pruning.htmA number of people are also experimenting with treating their plants with a natural growth stimulating product that will also stimulate more side branches. It does appear to help although nothing is as effective as pruning. We also use this product on the young plants before we ship them to you.
You can read more about this product called Supernova at this link
http://www.hiddenvalleynaturearts.com/acatalog/growthenhancer.htmBest of luck,
Charlie