Are you interested in starting a chiropractic clinic? Do you need a sample chiropractic clinic business plan template? If YES, then i advice you read on.
Congratulations on getting qualified and license to become a chiropractic doctor. It’s really been a long journey from enrolling for training to eventually qualifying as a licensed Chiropractic doctor. I guess what is next on your to-do list is how to convert your knowledge into a money spinner.
There are two ways to make money from your newly acquired skill; you can either start your own chiropractic clinic or work in an already established chiropractic clinic but then, choosing the later means that you would have to miss out on all the benefits of starting your own chiropractic clinic which include-:
- Becoming your own boss-: When you set up your own private practice, you take charge of everything that goes on within your clinic. This means that you can set your own goals, decide on methods of treating patients and control the way your business is being run.
- Flexibility-: You would have the liberty of choosing when and how you want to work and have enough time to attend to your personal affairs.
- Profitability-: You wouldn’t just be earning fixed salary every month; you would earn enough reward for your services and be able to keep them for yourself.
Because starting chiropractic clinic from the start is challenging, you can consider exploring franchising options. However, you can still start your chiropractic clinic from the scratch if you follow these procedures-:
Starting a Chiropractic Clinic – Sample Business Plan Template
1. Internship-: Even though you have gone through training and you understand how to carry out procedures on patients, you may not really understand the business side of running a chiropractic clinic therefore, it would help if you take out some time to enroll for internship in a chiropractic clinic for a few months to help you learn how to run the business successfully.
2. Business plan-: When you have fully understood the business side of things, then you should write your chiropractic business plan to analyze your reasons for starting your own private practice, how you plan to beat competitors and succeed as well as your plans for future growth.
3. Source for funding-: As a new chiropractor fresh out of training school, chances are that you would not be able to afford the thousands of dollars that would be required to set up your clinic.
Notwithstanding, you can still set up your clinic if you explore financing options like obtaining loans, looking for people who are ready to retire from the business and then buying their business with agreement for flexible payment options or partnering with other chiropractors to set up the business as a partnership. You can also start from home; what you would do is to set up a mobile chiropractic clinic and offer home services to clients until you have saved up enough to start your own clinic.
4. Choose a location for your business-: A suitable location for a chiropractic clinic would be close to hospitals, fitness centers or spas. A chiropractic clinic can benefit from the traffic and clientele of these businesses. When you want to choose a location, you should bear in mind that you would be serving people who suffer from some kind of pain and discomfort hence, you should ensure ease of access and transportation of your clients when choosing a location.
5. Equip your clinic-: When you have found a suitable location, the next thing to do would be to purchase the necessary equipment needed for your business. Some of the equipment you would need are Chiropractic tables, radiologic equipment, drugs and office supplies.
6. Hire employees-: Depending on how big your business is, you may need to hire support staff to help you in running the business. You may need to hire a chiropractic assistant along with some other administrative and clerical staff.
7. Promote your business-: You cannot maximize your earnings without informing people about your business. You should ensure that you promote your business by advertising and employing other promotional strategies such as volunteering for jobs, distributing flyers, internet advertising and so on.
You could also consider partnering with clinics, hospital and other doctors. Another promotional strategy is to become a contributor for newspapers and health magazines; you can search for interesting topics that you can write and educate readers on. There’s no limit to the number of new clients you may be able to get via that medium.
8. Share information-: It’s easier for people to see you as an authority in your field when you regularly share information with them. You should create a website or a blog for sharing articles related to pain management. You would be able to attract people who are seeking for such services through the internet. Another method that works is to regularly organize seminars and trainings where you would teach related topics.
9. Work with fitness centers and sports team-: Consider becoming a permanent chiropractic consultant to fitness centers and sports team. Due to the physical nature of activities in they engage in, there are high risks of injury which they would need the help of a chiropractor to manage.
10. Prepare to tackle challenges-: Running your own chiropractic clinic is certainly not without its challenges but with the right amount of preparation, you would be able to overcome the challenges. Some of the challenges Chiropractors face are-:
- Getting new customers-: Chiropractors may find it harder to get new clients compared to people in other medical fields. However, with the right amount of promotion and advertisement, you would be able to overcome this challenge.
- Coping with overhead cost-: The cost of managing a business may also be a problem for chiropractors. There are so many things to spend the money on from electricity to advertisement and staffing. To cut overhead costs, you should consider starting your business from home and then expand as you grow.
- Poor recognition-: In a lot of countries, consumers have not fully recognized chiropractors as an important field of medical practice.
Notwithstanding the challenges, setting your own chiropractic clinic is still a good move because it is a field of healthcare that is becoming increasingly popular.