Starting your own chiropractic office is a smart long-term career move. According to the New York Times, 65 million Americans suffer from chronic low back pain, and too many are relying on harmful treatments such as addictive pain medicine and surgery. Today, the chiropractic industry is worth $14 billion, and those revenues are expected to continue growing.
While you can work in an established chiropractic office, there’s much to be said for charting your own path in this growth industry. Provided you are confident in your abilities and are ready to be the face of your business, it could be time to launch your own chiropractic office. Here are ten steps that you can follow to launch a chiropractic office in your area.
1. Create a Business Plan
The very first thing that you should do is put your entire vision for a solo chiropractic office down on paper in the form of a business plan. Your business plan should include a list of short-term and long-term goals, a study of your market, pricing guidelines, capital requirements, and detailed financial projections.
2. Apply for Business Licenses
Any business is going to need some form of licensing and possibly several. Contact your local government offices to find out what sort of business license you will need to operate a chiropractic office. In addition to these, you’ll want to consider incorporating your business and obtaining the proper tax ids for state and federal taxes.
3. Obtain Proper Certifications
After you’ve licensed your business, you’ll also to apply for the certifications you need to run a chiropractic clinic. A good place to start is with the National Board of Chiropractic Examiners.
4. Raise Capital
Securing financing for a small business isn’t nearly as simple as it was in the past. However, if you’ve created a thorough business plan with detailed financials, you should still have some viable funding options for your new venture.
5. Select a Location
Finding the right location for your chiropractic business is one of the most important tasks you’ll undertake. Patients must be able to find you easily, have access to parking, and feel safe when they visit your office. Market studies and demographics should be a part of your business, marketing, and overall financial plan.
6. Set Up Your New Office
Now that you’ve selected the perfect location for your office, it’s time to turn it into the chiropractic practice of your dreams. Consider the budget that you’ve created, while also making your office as comfortable and inviting as possible. It’s also important that you invest in the right technology, such as an electronic healthcare record (EHR) system.
7. Hire and Train Staff
Even a small practice needs some support staff. Take the time to hire and train your staff properly. Look for employees who are people-oriented and team players even above those who have experience in the industry.
8. Establish Procedures
The time to create procedures for your practice is before you begin letting patients through the front door. Create systems that set the scene for a caring and compassionate experience that is consistent and that values the patient’s time.
9. Purchase the Right Insurance
All businesses need insurance, and any business that treats patients certainly requires coverage. Make sure to get the right forms of business insurance as well as any insurance that you need to cover your employees.
10. Market and Open Your Business
Unfortunately, just hanging an “Open” sign on your front door isn’t going to be enough to attract clients. You’ll need to follow the marketing plan that you developed in your original business plan to get the word out about your new business. Once you do this, it’s time to launch your new chiropractic practice.
Establishing your own chiropractic business may seem like a dream, but it is certainly possible with the right amount of planning and support. Just as with any career, you should love what you do, and helping people in your community is just one of the rewards of having a solo practice. Follow these steps to get to that ultimate goal of seeing your name on the front door.