Starting a chiropractic business these days requires a significant amount of introspection and due diligence research. There are factors unique to chiropractic business that need to be addressed in order to have a successful, profitable chiropractic practice.
What the general public doesn't realize is that practically all chiropractic clinics are small, private businesses. The business is financed entirely by the owner, and its success hinges on the abilities of that single owner. You must be clear on this fact and be ready and willing to do the things that are necessary to start a business, and the most fundamental thing is willing to take the financial risk.
The first thing an aspiring chiropractor should do is take a survey of established chiropractors in his community. Ask politely if you can meet with the owner for about 15 minutes and talk about chiropractic. Say that you are contemplating applying for chiropractic school but need to do some research into the field before making a decision. Alternatively, you can request a phone meeting if the chiropractor is too busy. But, it is best to do these things in the chiropractor's office so you can get a better sense of the business. You should do at least five of these meetings because there are so many approaches to chiropractic, and it's best to get exposure to several chiropractic business models in order to form an accurate assessment of the field.
Chiropractic is an attractive career because it involves helping people. Many people find this appealing because it increases job satisfaction. On top of that, chiropractors treat without medicine prescriptions and surgery, another positive aspect.
Chiropractic schools will impress upon their students that there is a strong need for health care providers to educate the public on an alternative model of health, and that is, to improve the condition of the spine and nervous system in order to allow the body's natural ability to heal itself. The message is eloquent and passionate and motivates chiropractic students to assume a sort of personal mission to help the public. However, it is important for this enthusiasm to be tempered by the realities of being a soon-to-be small business owner.
A chiropractic school graduate who attempts to start a large overhead office from the start will have to be able to make her business loan payments, as well as her chiropractic student loan payments. This can amount to $2,000 or more a month. And this doesn't include the operating expenses of the chiropractic business, which can exceed $10,000 per month quite easily. The smart way to get started is to start a low overhead practice (less than $1,500 per month rent and operating expenses) and expand only when you have the necessary cash flow and a patient volume that justifies a bigger office. There are strategies to doing this that involve patient education, technology tools, and systems.
There is a new guide called Chiropractic Business Plan: How to start a low overhead, high profit margin chiropractic business. It details all the insider techniques that can be used to generate the same income level as a much larger office, using only 1/7th the expenses. It advocates a lower stress, scalable practice model that centers on personalized service. For more information, visit http://www.chiropracticbusinessplan.com.
No comments:
Post a Comment