Chiropractic Business Plan
Over the past 20+ years, we have helped over 1,000 entrepreneurs and business owners create business plans to start and grow their chiropractic practices. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through a chiropractic business plan template step-by-step so you can create your plan today.
How To Write a Business Plan For a Chiropractic Clinic
If you want to start a chiropractic business or expand your current one, you need a business plan. Below we detail what should be included in each section of a successful chiropractic business plan template.
Executive Summary
Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.
The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of chiropractic practice you are operating and the status. For example, are you a startup, do you have a chiropractic business that you would like to grow, or are you operating a chain of chiropractic practices?
Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the chiropractic industry. Discuss the type of chiropractic business you are operating. Detail your direct competitors. Give an overview of your target customers. Provide a snapshot of your marketing plan. Identify the key members of your team. And offer an overview of your financial plan.
Company Analysis
In your company analysis, you will detail the type of chiropractic business you are operating.
For example, you might operate one of the following types of chiropractic practices:
- Pediatric Chiropractic: this type of chiropractic clinic focuses on providing chiropractic care to children, whose musculoskeletal needs are different from adults.
- Sports Chiropractic: this type of chiropractic practice specializes in helping athletes recover from and prevent sport-related injuries.
- Radiology Chiropractic: this type of chiropractic clinic uses medical imaging such as x-rays and ultrasounds to help understand and diagnose patients.
In addition to explaining the type of chiropractic business you will operate, the Company Analysis section of your business plan needs to provide background on the business.
Include answers to questions such as:
- When and why did you start the business?
- What milestones have you achieved to date? Milestones could include the number of customers served, the number of positive reviews, etc.
- Your legal structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.
Chiropractic Clinic Company Overview Example
Welcome to Aligned Wellness Chiropractic, a newly established Chiropractor/Chiropractic Clinic nestled in the heart of Oakmont, Pennsylvania. As a local chiropractic clinic, we are here to fill the gap in high-quality chiropractic services within our community. We understand the importance of holistic wellness and are dedicated to providing exceptional care to our clients, ensuring their health and well-being are our top priority.
At Aligned Wellness Chiropractic, we pride ourselves on offering a wide range of chiropractic services tailored to meet the needs of our diverse clientele. From infants to seniors, we provide various chiropractic adjustments designed to improve health and promote wellness. Our services are rooted in the latest chiropractic techniques and practices, ensuring our clients receive the best care possible.
Our clinic is strategically located in Oakmont, Pennsylvania, making it easily accessible to residents in and around the area. This prime location allows us to serve our community effectively, providing them with a local option for their chiropractic needs.
Aligned Wellness Chiropractic is positioned for success for several reasons. Firstly, our founder brings valuable experience from successfully running a previous chiropractic clinic. This expertise ensures that we operate with a deep understanding of what it takes to provide excellent chiropractic care. Additionally, our commitment to offering superior chiropractic services sets us apart from the competition. We understand the unique needs of our clients and offer personalized adjustments to cater to individuals of all ages.
Since our founding on May 10, 2024, Aligned Wellness Chiropractic has achieved several milestones. We are a Limited Liability Company, which has allowed us to establish a solid legal foundation for our business. Our accomplishments to date include the creation of our unique logo, the development of our company name, and securing a great location for our clinic. These achievements are just the beginning, as we continue to strive to enhance our services and expand our reach within the community.
Industry Analysis
In your industry analysis, you need to provide an overview of the chiropractic industry.
While this may seem unnecessary, it serves multiple purposes.
First, researching the chiropractic industry educates you. It helps you understand the market in which you are operating.
Secondly, market research can improve your strategy, particularly if your research identifies market trends.
The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.
The following questions should be answered in the industry analysis section of your chiropractic business plan:
- How big is the chiropractic industry (in dollars)?
- Is the market declining or increasing?
- Who are the key competitors in the market?
- Who are the key suppliers in the market?
- What trends are affecting the industry?
- What is the industry’s growth forecast over the next 5 – 10 years?
- What is the relevant market size? That is, how big is the potential market for your chiropractic practice? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.
Chiropractic Clinic Industry Analysis Example
The Chiropractor/Chiropractor Clinic industry in the United States is a thriving market, with an estimated size of over $15 billion. This industry has experienced steady growth over the past few years, driven by the increasing demand for non-invasive and holistic healthcare options among consumers.
Market research indicates that the Chiropractor/Chiropractor Clinic industry is expected to continue growing at a rate of 4.3% annually. This growth is attributed to factors such as the aging population, rising healthcare costs, and a growing awareness of the benefits of chiropractic care for overall health and wellness.
Aligned Wellness Chiropractic is well-positioned to capitalize on the positive trends in the industry. As a new Chiropractor/Chiropractor Clinic serving customers in Oakmont, Pennsylvania, Aligned Wellness Chiropractic can benefit from the increasing demand for chiropractic services and the shift towards a more holistic approach to healthcare among consumers. By offering high-quality care and personalized treatment plans, Aligned Wellness Chiropractic can establish itself as a trusted provider in the market.
Customer Analysis
The customer analysis section of your chiropractic business plan must detail the customers you serve and/or expect to serve.
The following are examples of customer segments: athletes, parents of young children, the elderly, and individuals recovering from accidents.
As you can imagine, the customer segment(s) you choose will have a great impact on the type of chiropractic practice you operate. Clearly, athletes would respond to different marketing promotions than parents, for example.
Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, include a discussion of the ages, genders, locations and income levels of the customers you seek to serve. Because most chiropractic care facilities primarily serve customers living in their same city or town, such demographic information is easy to find on government websites.
Psychographic profiles explain the wants and needs of your target customers. The more you can understand and define these needs, the better you will do in attracting and retaining your customers.
Chiropractic Clinic Customer Analysis Example
Target Customers
At Aligned Wellness Chiropractic, we will focus on serving local residents in Oakmont, Pennsylvania, who are in need of chiropractic adjustments. This primary customer segment will include individuals experiencing musculoskeletal discomfort, such as back pain, neck pain, and joint issues, who seek non-invasive treatment options. Our services will cater to both young adults and older populations who value maintaining an active and pain-free lifestyle.
We will also target athletes and fitness enthusiasts who require regular chiropractic care to enhance their performance and prevent injuries. By offering specialized services like sports chiropractic techniques and rehabilitation exercises, we will position ourselves as a go-to clinic for this health-conscious demographic. Furthermore, we will establish partnerships with local gyms and sports clubs to reach potential clients in this segment.
Families seeking holistic wellness for their children and themselves will find value in our family-oriented chiropractic services. Our approach will encompass pediatric chiropractic care, helping parents manage their children’s growth-related pains and postural issues. Additionally, we will provide educational workshops for families interested in understanding the benefits of chiropractic care for all age groups.
In addition to these segments, we will tailor our services to accommodate working professionals experiencing stress-related tension and poor posture due to prolonged hours at desks. Offering convenient appointment scheduling and targeted therapies for stress relief and posture improvement will attract this segment. Our clinic will also collaborate with local businesses to provide on-site wellness sessions, further expanding our reach within the professional community.
Customer Needs
Aligned Wellness Chiropractic meets the community’s demand for high-quality chiropractic services by offering specialized care tailored to individual needs. This includes providing effective pain management and rehabilitation solutions for residents suffering from chronic pain, sports injuries, and postural imbalances. Patients can expect personalized treatment plans that focus on restoring mobility, improving overall health, and preventing future injuries.
Moreover, the clinic addresses the need for convenience and accessibility by offering flexible appointment scheduling and a welcoming environment. The clinic’s location in Oakmont ensures that residents have easy access to professional chiropractic care without the need to travel long distances. By maintaining a patient-centric approach, Aligned Wellness Chiropractic prioritizes customer satisfaction and fosters trust within the community.
Customers also benefit from the clinic’s commitment to education and wellness promotion. Aligned Wellness Chiropractic provides valuable resources and guidance on maintaining a healthy lifestyle, including advice on nutrition, exercise, and stress management. This holistic approach not only aids in the recovery process but also empowers patients to take proactive steps in their health journey, enhancing their overall quality of life.
Competitive Analysis
Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.
Direct competitors are other chiropractic practices.
Indirect competitors are other options that customers have to purchase from that aren’t direct competitors. This includes acupuncturists, massage therapists and sports medicine physicians. You need to mention such competition as well.
With regards to direct competition, you want to describe the other chiropractic clinics with which you compete. Most likely, your direct competitors will be chiropractors located very close to your location.
For each such competitor, provide an overview of their businesses and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:
- What types of customers do they serve?
- What types of conditions do they treat?
- What is their pricing (premium, low, etc.)?
- What are they good at?
- What are their weaknesses?
With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.
The final part of your competitive analysis section is to document your areas of competitive advantage. For example:
- Will you provide better diagnostics and treatments?
- Will you provide services that your competitors don’t offer?
- Will you provide better customer service?
- Will you offer better pricing?
Think about ways you will outperform your competition and document them in this section of your plan.
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Marketing Plan
Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a successful chiropractic practice, your marketing plan should include the following:
Product: In the product section, you should reiterate the type of chiropractic company that you documented in your Company Analysis. Then, detail the specific products you will be offering. For example, in addition to chiropractic care, will you provide nutrition expertise, personal training or mobility recommendations, acupuncture, radiology or any other services?
Price: Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your marketing plan, you are presenting the services you offer and their prices.
Place: Place refers to the location of your chiropractic company. Document your location and mention how the location will impact your success. For example, is your chiropractic clinic located in a busy retail district or shopping plaza, near a large medical center, etc. Discuss how your location might be the ideal location for your customers.
Promotions: The final part of your chiropractic marketing plan is the promotions section. Here you will document how you will drive customers to your location(s). The following are some promotional methods you might consider:
- Advertising in local papers and magazines
- Reaching out to local websites
- Flyers
- Social media marketing
- Local radio advertising
Operations Plan
While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.
Everyday short-term processes include all of the tasks involved in running a successful chiropractic practice, including patient scheduling, onboarding new patients, treating patients, sanitizing rooms and billing.
Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to treat your 100th patient, or when you hope to reach $X in revenue. It could also be when you expect to expand your chiropractic business to a new location or new city.
Chiropractic Clinic Operations Plan Example
Key Operational Processes
To ensure the success of Aligned Wellness Chiropractic, there are several key day-to-day operational processes that we will perform:
- Patient Scheduling and Management: Efficiently coordinate appointment bookings and manage patient flow to minimize waiting times and optimize the use of resources.
- Initial and Follow-up Consultations: Conduct thorough assessments of new patients and provide follow-up care to ensure ongoing wellness and patient satisfaction.
- Chiropractic Treatments: Deliver high-quality chiropractic services, including adjustments, spinal manipulation, and other therapeutic practices tailored to individual patient needs.
- Patient Education: Educate patients on their conditions, treatment plans, and lifestyle adjustments to enhance their understanding and engagement in their health.
- Staff Training and Development: Regularly train staff on the latest chiropractic techniques, customer service skills, and operational procedures to ensure a high standard of care.
- Financial Management: Handles billing, insurance claims, and payment processing efficiently to maintain financial health and transparency for the clinic.
- Inventory Management: Maintain adequate stock of necessary supplies and equipment, ensuring timely orders and inventory checks to support uninterrupted clinical operations.
- Compliance and Safety: Adhere to health and safety regulations, maintain clean and sanitized facilities, and ensure compliance with all local, state, and federal healthcare laws.
- Marketing and Community Engagement: Implement marketing strategies to attract new patients and engage with the local community through events, partnerships, and educational workshops.
- Feedback and Continuous Improvement: Gather and analyze patient feedback to identify areas for improvement, and implement changes to enhance service quality and patient satisfaction.
Milestones
Aligned Wellness Chiropractic expects to complete the following milestones in the coming months to ensure its success:
- Secure a Suitable Location: Identify and lease a location that is accessible, visible, and convenient for potential clients in Oakmont, Pennsylvania, with the necessary facilities to support chiropractic services.
- Obtain Necessary Permits and Licenses: Ensure all legal requirements are met including business licenses, chiropractic practice licenses, and any health department approvals.
- Clinic Setup and Equipment Installation: Outfit the clinic with essential chiropractic equipment and furnishings, ensuring everything is up to professional standards for patient care.
- Launch Our Chiropractic Clinic: Officially open the clinic to the public, marking the beginning of operations and allowing the start of patient appointments.
- Develop and Implement Marketing Strategies: Launch targeted marketing campaigns to build brand awareness and attract initial clients, utilizing online platforms, local partnerships, and community events.
- Build a Strong Patient Base: Establish a loyal client base through exceptional service, patient education, and community engagement, aiming for repeat visits and referrals.
- Hire and Train Staff: Recruit qualified administrative and support staff, and provide training to ensure high levels of customer service and operational efficiency.
- Achieve $15,000/Month in Revenue: Reach a sustainable level of monthly revenue that supports operational expenses and allows for future growth and investment.
- Establish Relationships with Local Healthcare Providers: Build partnerships with local doctors and healthcare providers for referral opportunities and collaborative care.
- Monitor and Adjust Business Operations: Regularly assess business operations, patient feedback, and financial performance to make necessary adjustments for continued growth and improvement.
Management Team
To demonstrate your chiropractic business’ ability to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.
Ideally you and/or your team members have direct experience in managing chiropractic practices. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.
If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act like mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in managing chiropractic clinics or successfully running small businesses.
Financial Plan
Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet and cash flow statements.
Income Statement: an income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.
In developing your income statement, you need to devise assumptions. For example, will you gain ten new patients per month or per quarter? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.
Balance Sheets: Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $50,000 on building out your chiropractic practice, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $50,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.
Cash Flow Statement: Your cash flow statement will help determine how much money you need to start or grow your business, and make sure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt.
In developing your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a chiropractic business:
- Location build-out including design fees, construction, etc.
- Cost of equipment and supplies
- Payroll or salaries paid to staff
- Business insurance
- Taxes and permits
- Legal expenses
Appendix
Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your office location lease or outlines of treatment plans.
Putting together a business plan for your chiropractic business is a worthwhile endeavor. If you follow the chiropractic business plan template above, by the time you are done, you will truly be an expert. You will really understand the chiropractic industry, your competition, and your customers. You will have developed a marketing plan and will really understand what it takes to launch and grow a successful chiropractic practice.
What is a Chiropractic Business Plan?
A business plan provides a snapshot of your chiropractic business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans.
Why You Need a Business Plan for a Chiropractic Business
If you’re looking to start a chiropractic business, or grow your existing chiropractic business, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your chiropractic business in order to improve your chances of success. Your chiropractic business plan is a living document that should be updated annually as your company grows and changes.
Sources of Funding for Chiropractic Practices
With regards to funding, the main sources of funding for a chiropractic practice are personal savings, credit cards, bank loans and angel investors. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business. With that said, personal savings and bank loans are the most common funding paths for chiropractic practices.
Free Chiropractic Business Plan PDF
You can download our chiropractic business plan PDF to help you get started on your own business plan.
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