ProfitableVenture.com

Helping You Start a Business With Less Risk!

A Sample Chiropractic Business Plan Template

Are you about starting a chiropractic business? If YES, here is a complete sample chiropractic business plan template & feasibility study you can use for FREE.

Okay, so we have considered all the requirements for starting a chiropractic business. We also took it further by analyzing and drafting a sample chiropractic marketing plan template backed up by actionable guerrilla marketing ideas for chiropractic clinics. So let’s proceed to the business planning section.

There are several businesses that revolve around medicine. This means that if you have the penchant for going into a medical related business, then you may want to consider the chiropractic business. This trade has been in existence for centuries. You may want to consider this business by first learning all that needs to be learnt before venturing into the trade. This is o that you are not found wanting in any area.

One of the hurdles that you will need to scale as you start out in this business is writing a business plan. One of the good things about writing a business plan is then fact that you are able to make projections that will help you succeed. Some of the things that are found in the plan are your sales projection, marketing strategies that you are looking to adopt, as well as other technical areas.

Good news is that much more than having to pay an expert to help you with the drawing up of a business plan, you may want to consider using an existing template to draw yours up. Here below is a sample Chiropractic business plan;

A Sample Chiropractic Business Plan Template

  • The Chiropractic / Alternative Medicine Industry Overview

The chiropractic industry has been in existence as far back as modern civilization. Chiropractic is a form of alternative medicine that involves the diagnosis and treatment of mechanical disorders of the musculoskeletal system, mainly the spine, under the belief that these disorders affect general health via the nervous system.

There is no way you will talk about alternative medicine that you will not have to mention chiropractors; this is so because it is the largest alternative medical profession. On the average, chiropractors often aspire to become primary care providers, despite the fact that most of them lack the necessary medical and diagnostic skills to operate as one.

Generally, chiropractic treatment technique involves manual therapy, especially the manipulation of the spine, other joints, and soft tissues, but may also include exercises and health and lifestyle counseling et al.

The Chiropractic Industry is a well – established industry in the United States, Canada, and Australia; the industry works hand in hand with other manual-therapy related professions such as massage therapy, osteopathy, and physical therapy et al. Most of the people who source for the services of chiropractic care do so for aliment such as low back pain, and back and neck pain are considered the specialties of chiropractic, but many chiropractors treat ailments other than musculoskeletal issues.

The Chiropractic industry which falls under alternative medicine industry includes practitioners who have a chiropractic degree. These doctors are primarily independent practitioners who diagnose and treat patients based on the concept that the nervous system coordinates all of the body’s functions. Chiropractors basically manipulate the spine with their hands to realign the vertebrae and relieve pressure and pains on the nerves.

The Chiropractic industry is projected to grow slowly due to reservation about the field’s validity. On the other hand, the number of people who are over the age of 50 is rising, supporting chiropractic industry demand, and healthcare reform is expanding the number of individuals with health insurance policy cover, boosting revenue growth.

No doubt, in the next few years, sustained public uncertainty of the industry will likely continue to limit the industry growth, but on the other hand, chiropractors are positioning their business to take advantage of newfound consumer interest in complementary and alternative healthcare. In addition, the reform in the healthcare sector will also continue to positively impact the industry, even though it will likely impact the profit margins negatively.

The chiropractic industry is indeed a very large industry and pretty much active in all the parts of the world. There are no company that has a dominate market share in the industry. Statistics has it that in the United States of America alone, there are about 68,848 registered and licensed chiropractic companies responsible for employing about 166,370 and the industry rakes in a whooping sum of $14bn annually. The industry is projected to enjoy 1.3 percent annual growth.

More people are entering into the chiropractic industry simply because the entry barriers in this industry are moderate compare to the medical industry. The major obstacle to aspiring entrepreneur who want to start their own chiropractic business is that they are expected to obtain medical licensure. This so because any practitioner in this industry must be appropriately licensed before they can be allowed to practice.

In order to earn a chiropractic license, aspiring entrepreneur must prove that they have received adequate education and that they uphold basic ethical standards. Just like any other regulatory entry barrier, licensure has the effect of controlling supply in the industry and generating security for incumbent practitioners.

Over and above, the chiropractic industry is pretty much open to new entrepreneurs and investors to come in and build a successful business.

Chiropractic Business Plan – Executive Summary

California Chiropractic and Massage Center is a registered and licensed chiropractic and massage center that will be located in Los Angeles – California which happens to be the 8th largest city in the United States of America with a population of an estimate of 1.4 million people. Aside from the fact that we will start our business in Los Angeles, we intend to have a very strong presence in the whole of California.

California Chiropractic and Massage Center is in business to offer core chiropractic treatments that involves the diagnosis and treatment of mechanical disorders of the musculoskeletal system, mainly the spine, other joints, and soft tissues, exercises and health and lifestyle counseling et al. We are well trained, equipped and positioned to offer chiropractic therapies and treatment in a systematic way to individuals, families or communities in a caring, and professional environment.

We are in the chiropractic and massage business to deliver excellent healthcare services to all those who will patronize our services. We will also ensure that in the line of carrying out our duty, we comply with the laws and health regulations in The United States of America. One thing is certain; our clients will definitely get fully healed from their ailment when they hire our services.

We will work hard to help people soothe their spine pains, their joint pains, improve their sleep, boost their immune system function, increasing their mental alertness, ease the effects of cancer treatment, aid headache sufferers, alleviate depression, and ultimately reduce or eliminate their stress level.

California Chiropractic and Massage Center will operate a 24 hours 7 days a week chiropractic and massage service center; our office facility will be opened round the clock to attend to clients and we will also offer home services as requested by our clients. Our work force is going to be well trained to operate within the framework of our organization’s corporate culture and also to meet the needs of all our customers. We have put structure in place that will enable us accept insurance payments as well as private-party payments from our clients.

California Chiropractic and Massage Center will ensure that all our clients are given first class treatment whenever they visit our chiropractic and massage center. We have a CRM software that will enable us manage a one on one relationship with our customers no matter how large the numbers of our customers’ base grows.

California Chiropractic and Massage Center is a family business that is owned and managed by Dr. Cooper Long – John and family. Dr. Cooper Long – John is an international licensed Chiropractor and Massage Therapist with a robust experience and education in the industry that cuts across the United States, Canada, United Kingdom and Japan. He will be bringing in her vast experience and expertise to help the organization grow to become one of the leading chiropractic and massage therapy center in the United States of America.

  • Our Services

California Chiropractic and Massage Center is in the business of chiropractic and massage therapy with the goal of becoming a leader in the industry. We will work hard to help people soothe their spine pains, their joint pains, improve their sleep, boost their immune system function, increasing their mental alertness, ease the effects of cancer treatment, aid headache sufferers, alleviate depression, and ultimately reduce or eliminate their stress level.

These are the chiropractic and massage therapy services that California Chiropractic and Massage Center will be offering;

  • Diagnose and treat patients (diagnosis and treatment of mechanical disorders of the musculoskeletal system, mainly the spine, other joints, and soft tissues)
  • Provide natural, drugless, nonsurgical health treatments
  • Refer patients to or consult with other health practitioners
  • General chiropractic care
  • Family chiropractic care
  • Sports and rehabilitation chiropractic care (exercises and health and lifestyle counseling)
  • Other patient care
  • Retailing of chiropractic health products
  • Diagnostics services

Our Vision Statement

Our vision is to become the number one choice when it comes to chiropractic and massage therapy service delivery in the whole of Los Angeles – California and also to be amongst the top 10 chiropractic and massage therapy service provider in the United States of America and Canada within the next 15 years.

  • Our Mission Statement

California Chiropractic and Massage Center is in business is to establish a first class chiropractic and massage therapy center that will take care of both highly placed clients and lowly placed clients as long as they can afford our services. We want to become one of the leaders in the industry in The United States of America and Canada.

  • Our Business Structure

California Chiropractic and Massage Center is a business that will be built on a solid foundation. From the outset, we have decided to recruit only qualified professionals to man various job positions in our organization. We are quite aware of the rules and regulations governing the chiropractic industry which is why we decided to recruit only well experienced, licensed and qualified employees as foundational staff of the organization. We hope to leverage on their expertise to build our business brand to be well accepted in Los Angeles – California and the whole of the United States.

When hiring, we will look out for applicants that are not just qualified and experienced, but honest, customer centric and are ready to work to help us build a prosperous business that will benefit all the stake holders (the owners, workforce, and customers). As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of five years or more.

These are the positions that will be available at California Chiropractic and Massage Center;

  • Chief Executive Officer (Owner)
  • Chief Chiropractor
  • Massage Therapist
  • Exercise and Training Physiologist
  • Marketing Executive
  • Cashier (Counter Agent)
  • Customer Care Executive

Roles and Responsibilities

Chief Executive Officer:

  • Responsible for providing direction for the business
  • Creating, communicating, and implementing the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
  • Attend to high profile clients and severe medical cases
  • Responsible for fixing prices and signing business deals
  • Responsible for recruitment
  • Responsible for payment of salaries
  • Responsible for signing checks and documents on behalf of the company
  • Evaluates the success of the organization

Chief Chiropractor

  • Diagnose and treat patients (diagnosis and treatment of mechanical disorders of the musculoskeletal system, mainly the spine, other joints, and soft tissues)
  • Provide natural, drugless, nonsurgical health treatments
  • Refer patients to or consult with other health practitioners
  • Responsible for handling general chiropractic care

Massage Therapist

  • Responsible for providing professional massaging services to our patients
  • Responsible for offering occupational, physical, and speech therapy
  • Ensures that clients / patients follow through recovery or healing plans as agreed

Exercise and Training Physiologist

  • Handles all aspect of sports and rehabilitation chiropractic care (exercises and health and lifestyle counseling)
  • Responsible for evaluating, researching, and provide advice on exercise and training.
  • Responsible for training
  • Engages in recovery practices in all areas of exercise and rehabilitation
  • Provide timely information and support on injury prevention, technique analysis, and nutrition.
  • Creates training rosters for members
  • Assists members during exercise session
  • Guides members on how to make use of gym and fitness equipment

Marketing Executive

  • Manage external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
  • Model demographic information as it relates to those who need our services
  • Sources for clients for the company
  • Responsible for promoting the company’s image
  • Responsible for creating marketing and sales strategies, etc.
  • Represents the organization in some strategic business meetings
  • Handles any other duty as assigned by the floor manager (Pharmacist)

Accountant / Cashier (Counter Agent):

  • Receives payments on behalf of the organization
  • Issues receipt to customers
  • Prepares financial report at the end of every working week
  • Handles financial transaction on behalf of the company
  • Interfaces with our bankers
  • Responsible for payment of tax, levies and utility bills
  • Handles any other duty as assigned by the office

Client Service Executive

  • Ensures that all contacts with clients (e-mail, walk-In centre, SMS or phone) provides the client with a personalized customer service experience of the highest level
  • Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
  • Manages administrative duties assigned by the manager in an effective and timely manner
  • Consistently stays abreast of any new information on the company’s products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients when they make enquiries
  • Receives Visitors / clients on behalf of the organization
  • Receives parcels / documents for the company
  • Handles enquiries via e-mail and phone calls for the organization
  • Distribute mails in the organization
  • Handles any other duties as assigned my the line manager

Chiropractic Business Plan – SWOT Analysis

California Chiropractic and Massage Center is set to become one of the leading chiropractic and massage therapy service providers in Los Angeles – California, which is why we will ensure that we are well trained and equipped to carry out or duties.

We want California Chiropractic and Massage Center to be the number one choice of all residence of Los Angeles and other cities in California. We know that if we are going to achieve the goals that we have set for our business, then we must ensure that we build our business on a solid foundation. We must ensure that we follow due process in setting up the business.

We made sure that we hire the services of business consultants that are specialized in setting up new businesses to help our organization conduct detailed SWOT analysis and to also provide professional support in helping us structure our business to indeed become a leader in the chiropractic industry.

This is the summary of the SWOT analysis that was conducted for California Chiropractic and Massage Center;

  • Strength:

Our strength lies in the fact that we have a team of well qualified, experienced and licensed professionals manning various job positions in our organization. As a matter of fact, they are some of the best hands in the whole of Los Angeles – California.

Our location, the business model we will be operating on, opening 24 hours daily and 7 days in a week, home services, multiple payment options, well equipped facility and our excellent customer service culture will definitely count as a strong strength for us.

  • Weakness:

Our perceived weakness lies in the fact that we are just starting out and we may not have the required finance to sustain the kind of publicity that we intend giving the business.

  • Opportunities:

The opportunities that are available to massage therapy and wellness service providers are unlimited considering the fact that we have a growing population that are prone to stress in the United States and we are going to position our business to make the best out of the opportunities that will be available to us in California.

  • Threat:

Just like any other business, one of the major threats that we are likely going to face is economic downturn and unfavorable government policies (healthcare reform). It is a fact that economic downturn affects purchasing / spending power. Other threats that may likely confront us are sustained public uncertainty of the industry and the arrival of a new and bigger / well established chiropractic and massage therapy brand in same location where our outlet is located.

Chiropractic Business Plan – MARKET ANALYSIS

  • Market Trends

If you keep tabs on the trend in the chiropractic industry, you will agree that the industry is indeed growing despite the sustained public uncertainty of the industry which is why chiropractic and massage franchises are now selling faster than before. It is now easier to find chiropractic and massage centers in places that ordinarily you would not find one; places such as residential estates, business districts, and farmers ’ market and even in shopping malls et al.

More people are entering into the chiropractic industry simply because the entry barriers in this industry are moderate compare to the medical industry. The major obstacle to aspiring entrepreneur who want to start their own chiropractic business is that they are expected to obtain medical licensure. This so because any practitioner in this industry must be appropriately licensed before they can be allowed to practice.

In order to earn a chiropractic license, aspiring entrepreneur must prove that they have received adequate education and that they uphold basic ethical standards. Just like any other regulatory entry barrier, licensure has the effect of controlling supply in the industry and generating security for incumbent practitioners. In addition, the existence of established practices in the proposed area of practice can affect the viability of opening a new practice in that area. In contrast to the licensing requirements, the costs of establishment are not significant

Over and above the health industry of which chiropractic and massage therapy services falls under is indeed a thriving and dynamic industry; with the aid of technology, it is becoming easier to treat, manage and cure some ailments that before now are not easy to handle.

  • Our Target Market

The target market for chiropractic and massage therapy services cuts across people of different walks of life. The fact that people who have spine problem and any other related problem would do anything and pay any amount within their possession to get well makes marketing the business interesting.

The target market for chiropractic and massage therapy services can be categorized into three various groups. The first group are the people who are looking towards eliminating stress (to become relaxed), those who are looking towards recovering from an spine and joint related ailment and lastly those who are looking towards staying healthy, and shedding weights through proper exercising and under the guidance of a qualified instructor.

California Chiropractic and Massage Center will work towards providing services, facilities and environment that will help us reach out to our target market. These are the category of people that we intend marketing our chiropractic and massage therapy services to;

  • Corporate Executives
  • Business People, Truck Drivers, Factory workers, Construction Laborers et al
  • Household
  • Sportsmen and Sportswomen
  • Schools
  • Young Couples
  • Elderly people
  • Expectant Mothers
  • Injured Sports Men and Women
  • The aged who might suffer from severe joint pains and every other age categories who falls under the conditions listed by the physician.

Our Competitive Advantage

Before setting up California Chiropractic and Massage Center, we are quite aware that the competition in the industry is on the increase, which is why we decided to conduct a thorough market research and feasibility studies so that we will be well trained and equipped to favorably compete in Los Angeles – California. As a matter of fact, we will offer chiropractic and massage a therapy service that is effective and efficient with uttermost professionalism and respectful with the boundaries of our clients.

We will ensure that every experience that our clients get when they visit us are pleasurable experiences that will make them want to come back over and over again. We will also ensure that we only make use of quality supplies (massage oil and lotions) and create the environment and ambiance that will be relaxing and welcoming.

We are quite aware that to be highly competitive in the chiropractic industry means that you should be able to deliver consistent quality service, your clients should be able to experience remarkable difference cum improvement and you should be able to meet the expectations of the physicians that referred patients to you.

California Chiropractic and Massage Center is coming into the market well prepared to favorably compete in the industry. Our facility is well positioned (centrally positioned) and visible, we have enough parking space with good security. Our employers are well groomed in all aspect of chiropractic and massage therapy service delivery and all our employees are trained to provide customized customer service to all our clients.

Our services will be carried out by highly trained professional and licensed chiropractors and massage therapists, wellness coach, gym instructor, physiologists, medication management counselors, physical therapists, county aging workers, and rehabilitation counselors et al who know what it takes to give our highly esteemed customers value for their money.

We are going to be one of the few chiropractic and massage therapy service providers in the whole of California that will offer home services and also open for business 24 hours a day and 7 days a week. We have enough trained chiropractors, massage therapist and wellness professionals that are ready to run a shift system.

Chiropractic Business Plan – SALES AND MARKETING STRATEGY

  • Sources of Income

California Chiropractic and Massage Center will ensure that we do all we can to maximize the business by generating income from every legal means within the scope of our industry. Below are the services we intend offering in order to generate income for California Chiropractic and Massage Center;

  • Diagnose and treat patients (diagnosis and treatment of mechanical disorders of the musculoskeletal system, mainly the spine, other joints, and soft tissues)
  • Provide natural, drugless, nonsurgical health treatments
  • Refer patients to or consult with other health practitioners
  • General chiropractic care
  • Family chiropractic care
  • Sports and rehabilitation chiropractic care (exercises and health and lifestyle counseling)
  • Other patient care
  • Retailing of chiropractic health products
  • Diagnostics services

Sales Forecast

It is important to state that our sales forecast is based on the data gathered during our feasibility studies, market survey and also some of the assumptions readily available on the field.

Below are the sales projections that we were able to come up with for the first three years of operations;

  • First Year-: $120,000 (From Self – Pay Clients): $250,000 (From Health Insurance Companies)
  • Second Year-: $270,000 (From Self – Pay Clients): $500,000 (From Health Insurance Companies)
  • Third Year-: $550,000 (From Self – Pay Clients): $1,500,000 (From Health Insurance Companies)

N.B: This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and natural disasters within the period stated above. There won’t be any major competitor offering same additional services as we do within 4.5 miles radius from our chiropractic and massage center facility. Please note that the above projection might be lower and at the same time it might be higher.

  • Marketing Strategy and Sales Strategy

The marketing and sales strategy of California Chiropractic and Massage Center will be based on generating long-term personalized relationships with customers. In order to achieve that, we will ensure that we offer top notch all – round chiropractic, massage therapy and wellness services at affordable prices compare to what is obtainable in California.

Aside from the strategic location of our business, all our employees will be well trained and equipped to provide excellent and knowledgeable chiropractic, massage therapy and wellness services at all times. We know that if we are consistent with offering high quality service delivery and excellent customer service, we will increase the number of our customers by more than 25 percent for the first year and then more than 40 percent subsequently.

Before choosing a location for our chiropractic and massage therapy center, we conducted a thorough market survey and feasibility studies in order for us to be able to be able to penetrate the available market and become the preferred choice for residence of Los Angeles and other cities in California where our services will be available. We have detailed information and data that we were able to utilize to structure our business to attract the numbers of customers we want to attract per time.

We hired experts who have good understanding of the chiropractic and massage therapy services industry to help us develop marketing strategies that will help us achieve our business goal of winning a larger percentage of the available market in California.

In summary, California Chiropractic and Massage Center will adopt the following sales and marketing approach to win customers over;

  • Introduce our business by sending introductory letters to residence, business owners and corporate organizations
  • Open our chiropractic and massage therapy center with a big party
  • Advertise our chiropractic and massage therapy center on national dailies, local TV stations and local radio station
  • Promote our chiropractic and massage therapy center online via our official website and all available social media platforms
  • Continuously Improving the performance of our brands
  • Hire the services of experts to make our brands the first choice for people in Los Angeles – California
  • Delivering consistent customer experiences to all our members; making our first impression count positively to those who will hire our services for the first time
  • Make use of attractive hand bills to create awareness and also to give direction to our chiropractic and massage therapy center
  • Adopt direct mailing coupon marketing approach
  • Position our signage / flexi banners at strategic places
  • Create a loyalty plan that will enable us reward our consistent members especially those that registered as a family
  • Engage on road shows from time to time within our neighborhood to create awareness for our chiropractic and massage therapy center.

Chiropractic Business Plan – Publicity and Advertising Strategy

We are not just in the chiropractic and massage therapy services business to make profits but also to become one of the market leaders hence we are going to explore all available conventional and non – conventional means to promote our business.

California Chiropractic and Massage Center has a long term plan of offering chiropractic and massage therapy services not just in our facility but also in various locations (homes) all around California which is why we will deliberately build our brand to be well accepted in Los Angeles before venturing out. As a matter of fact, our publicity and advertising strategy is not solely for winning customers over but to effectively communicate our brand to the general public.

Here are the platforms we intend leveraging on to promote and advertise California Chiropractic and Massage Center;

  • Place adverts on both print (community based newspapers and magazines) and electronic media platforms
  • Sponsor relevant community health and fitness programs
  • Leverage on the internet and social media platforms like; Instagram, Facebook , twitter, YouTube, Google + et al to promote our brand
  • Install our Bill Boards on strategic locations all around Los Angeles – California
  • Engage in road show from time to time in targeted communities
  • Distribute our fliers and handbills in target areas
  • Ensure that all our workers wear our branded shirts and all our vehicles are well branded with our company’s logo et al.

Our Pricing Strategy

California Chiropractic and Massage Center will work towards ensuring that all our services are offered at highly competitive prices compare to what is obtainable in The United States of America.

On the average, chiropractic, massage therapy and wellness service providers usually leverage on the fact that a good number of their clients do not pay the service charge from their pockets; private insurance companies, Medicare and Medicaid are responsible for the payment. In view of that, it is easier for players in the industry them to bill their clients based in their discretions.

It is important to clearly state that, in some cases chiropractic, therapy and wellness service providers also adopt the hourly billing cum per visit billing method.

  • Payment Options

California Chiropractic and Massage Center, our payment policy is all inclusive because we are quite aware that different people prefer different payment options as it suits them. Here are the payment options that will be available in every of our outlets;

  • Payment by cash
  • Payment via Point of Sale (POS) Machine
  • Payment via online bank transfer (online payment portal)
  • Payment via Mobile money
  • Check (only from loyal customers, private insurance companies, Medicare and Medicaid)

In view of the above, we have chosen banking platforms that will help us achieve our payment plans without any itches.

Chiropractic Business Plan – Financial Projections and Costing

In setting up any business, the amount or cost will depend on the approach and scale you want to undertake. If you intend to go big by renting a place, then you would need a good amount of capital as you would need to ensure that your employees are well taken care of, and that your facility is conducive enough for workers to be creative and productive.

This means that the start-up can either be low or high depending on your goals, vision and aspirations for your business.

When it comes to setting up a chiropractic and massage therapy center, the materials and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked. As for the detailed cost analysis for starting a chiropractic and massage therapy center; it might differ in other countries due to the value of their money. However, this is what it would cost us to setup California Chiropractic and Massage Center in Los Angeles – California;

  • The Total Fee for Registering the Business in Los Angeles, CA: $750.
  • Legal expenses for obtaining licenses and permits: $1,500.
  • Marketing promotion expenses (8,000 flyers at $0.04 per copy) for the total amount of $10,000.
  • Cost for hiring Consultant – $5,000.
  • Insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $30,800.
  • Cost of accounting software, CRM software and Payroll Software – $3,000
  • Cost for leasing facility for the spa: $80,000.
  • Cost for facility remodeling – $50,000.
  • Other start-up expenses including stationery – $1000
  • Phone and utility deposits – $3,500
  • Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $40,000
  • The cost for Start-up inventory and supply (massage oil and lotions et al) – $15,000
  • Storage hardware (bins, utensil rack, shelves, glasses et al) – $1,720
  • The cost for counter area equipment (counter top, sink, ice machine, etc.) – $7,500
  • Cost for acquiring gym and spa equipment – $200,000
  • The cost for the purchase of furniture and equipment (Chiropractic equipment, Computers, Printers, Telephone, TVs, Sound System, tables and chairs et al): $4,000.
  • The cost of Launching a Website: $600
  • The cost for our grand opening party: $1,500
  • Miscellaneous: $5,000

We would need an estimate of $ 750,000 to successfully launch our massage therapy and wellness business in Los Angeles – California.

It is important to state that the testing and evaluating expenses would be high because of the large amount of equipment needed to start up a chiropractic and massage therapy center and also the sophistication of the technology involved.

Generating Funding / Startup Capital for California Chiropractic and Massage Center

California Chiropractic and Massage Center is a family business that is solely owned and financed by Dr. Cooper Long – John and family. They do not intend to welcome any external business partners which is why she has decided to restrict the sourcing of the start – up capital to 3 major sources.

These are the areas California Chiropractic and Massage Center intends to generate its start – up capital;

  • Generate part of the start – up capital from personal savings
  • Source for soft loans from family members and friends
  • Apply for loan from my Bank

N.B: We have been able to generate about $200,000 (Personal savings $150,000 and soft loan from family members $50,000) and we are at the final stages of obtaining a loan facility of $550,000 from our bank. All the papers and document have been signed and submitted, the loan has been approved and any moment from now our account will be credited with the amount.

Chiropractic Business Plan – Sustainability and Expansion Strategy

It is a known fact that the future of any business lies in the numbers of loyal customers that they have, the capacity and competence of the employees, their investment strategy and the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.

One of our major goals of starting California Chiropractic and Massage Center is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running. We know that one of the ways of gaining approval and winning customers over is to offer our chiropractic and massage therapy services a little bit cheaper than what is obtainable in the industry and we are well prepared to survive on lower profit margin for a while before increasing our service charges.

California Chiropractic and Massage Center will make sure that the right foundation, business structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of five years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List / Milestone

  • Business Name Availability Check: Completed
  • Business Registration: Completed
  • Opening of Corporate Bank Accounts: Completed
  • Securing Point of Sales (POS) Machines: Completed
  • Opening Mobile Money Accounts: Completed
  • Opening Online Payment Platforms: Completed
  • Application and Obtaining Tax Payer’s ID: In Progress
  • Application for business license and permit: Completed
  • Purchase of Insurance for the Business: Completed
  • Leasing of facility and remodeling the facility: In Progress
  • Conducting Feasibility Studies: Completed
  • Generating capital from family members: Completed
  • Applications for Loan from the bank: In Progress
  • Writing of Business Plan: Completed
  • Drafting of Employee’s Handbook: Completed
  • Drafting of Contract Documents and other relevant Legal Documents: In Progress
  • Design of The Company’s Logo: Completed
  • Graphic Designs and Printing of Packaging Marketing / Promotional Materials: In Progress
  • Recruitment of employees: In Progress
  • Purchase of Spa and Gym equipment and gadgets et al: In Progress
  • Purchase of the Needed furniture, racks, shelves, computers, electronic appliances, office appliances and CCTV: In progress
  • Creating Official Website for the Company: In Progress
  • Creating Awareness for the business both online and around the community: In Progress
  • Health and Safety and Fire Safety Arrangement (License): Secured
  • Opening party / launching party planning: In Progress
  • Compilation of our list of potential clients in San Diego – California: Completed
  • Establishing business relationship with vendors: In Progress
ProfitableVenture.com © 2015 - 2016 | All Rights Reserved | See About us | Privacy Policy and Disclaimer.