Chiropractic Business Plans… Whilst our initial outcomes are to have practices identifying their core values, the next step is to take that to the world. This is done by having a workable business plan. A chiropractic practice business plan incorporates a financial plan, a marketing plan, a team plan, a succession plan and a clinical plan.
A business plan is a strategic document that guides the day to day and year to year development of a practice therefore leaving nothing to chance. Most chiropractic practices are not run as a business. The chiropractor is passionate about his/her technique and the skills that they offer to their community under the umbrella of chiropractic but they have little underpinning this enthusiasm at a business level.
Our outcome for practices is that they become prosperous and sustainable for a lifetime. This often means that the chiropractor must spend more time and energy working on the practice rather than in the practice. This includes creating leverage by the use of other people and their individual skill bases.
Items to Include in Your Business Plan
- The Business – in this section you should write business details, organisational chart, the management and ownership, key personnel, products/services, insurance, risk management, sustainability plan.
- The Market – in this section you should include market research, target markets, industry analysis, S.W.O.T analysis, competition and advertising.
- The Future – in this section you should include your mission statement, purpose statement, goals and action plan
- The Finances – in this section include the financial review, start-up costs for the year, your financial forecasts, expected cash flow and break-even analysis
For more help with your business planning contact Quest
