Business
How to Start a Chiropractic Clinic
Did you know that the average chiropractic clinic in the United States grossed more than three hundred and eighty thousand dollars in 2019?
It makes sense why you might be interested in starting a chiropractic clinic. Not only does it have the potential to be very profitable. You will also be offering a vital service to those in your community.
The problem is that it can be challenging to know how to start a chiropractic clinic. So we’ve created a guide to clear up confusion. Keep reading if you want to find out more.
Make a Business Plan
You must write up a clear business plan before you take action to start your chiropractic practice.
By taking the time to articulate a plan, you will have the chance to gain clarity about your business.
Your plan should break down what your short and long-term expenses will be. For example, expect to pay at least fifty thousand dollars annually to rent an office space.
You should also calculate how much it will cost to invest in new equipment.
Then make a list of your ongoing expenses. This includes things like insurance, licenses, rent, utilities, and salaries.
You should then take time to identify what your target market is. For example, if you want to lower administration costs, consider targeting direct-pay patients.
Focus on meeting the needs of people with insurance if you want a more consistent income.
Next, decide how much you are going to charge for your services. Most chiropractic services charge at least one hundred dollars per session. Some clinics also choose to offer treatment plans.
Determine how much revenue your business will need to be profitable. For example, if there are various other chiropractic businesses in your area, you should offer unique treatments to your patients.
Give Your Business a Name
It can be a challenge to choose the right name for your business. Consider choosing a business name that is unique, attention-grabbing, and professional.
Before you decide on a name, make sure to do some background research.
Start by reaching out to federal and state government agencies to ensure that this business name does not already exist. You’ll then need to research on the internet.
Once you’ve decided on a name, get online and register your domain name as quickly as you can.
Create a Legal Entity
There are several ways to structure your chiropractic practice, such as a partnership, limited liability company, or company.
You can protect yourself from being held personally liable if you establish an LLC or a corporation.
Register Your Business for Taxes
You will need to register your business for various state and federal taxes before it is possible to open your doors for business.
You will need to apply for an EIN to register for taxes. Thankfully, this is easy and won’t cost you a penny.
Open a Bank Account for Your Business
You will need to open a dedicated business bank account before starting your business. If you mix your personal and business accounts, you are more at risk if somebody ends up suing your company.
People in the business world refer to this as “piercing your corporate veil.”
You will want to start building business credit as quickly as possible. This will make getting business credit cards for your chiropractic practice easier. In addition, those with good credit will get better interest rates and higher lines of credit.
You can build credit by opening a net 30 account. You can use this to make purchases and pay off the balance within thirty days. By doing this, you will start building business credit.
Get the Right Licenses and Permits
You will risk paying heavy fines if you do not get the necessary licenses and permits. You might even have to shut down your business.
Most states in the United States require chiropractic services to obtain chiropractic licenses.
Some states require you to get additional permits. You can learn more about state licensing requirements by visiting the SBA page for state licenses and requirements.
Do not forget to get your certificate for occupancy, which will be required if you plan on working from an office.
Your certificate of occupancy will show that your chiropractic office meets all of the building codes, zoning laws, and government requirements.
Find the Perfect Location
Your location will make or break your practice. The best areas are highly visible, meaning clients will know where to find you.
Try to open your business in an area where you are accessible to your target audience. You can find out where your ideal customers live through market research.
Most chiropractic has at least twelve hundred square feet of space. You might want to find a location with more space if you are opening an extensive practice.
You will also need to keep an eye out for locations you can afford. You might want to hire a real estate agent specializing in the medical field.
Even though you won’t ideally want to commute, let this concern take a back seat to your more critical need of opening a practice in a location where it is likely to be most successful.
Design Your Office
Set up your office so that it is aesthetically and professionally pleasing. You should make sure that there is enough space to work with several customers at once.
After you’ve designed your office, you will need to find the right contractors to do the work. First, search out those who have familiarity with chiropractic office space design.
Speak with a minimum of three candidates, and do not forget to check for references. Try to visit an office designed by any contractors you are interested in hiring.
Find out from the owner whether or not the contractors finished their work on time and ask if they were enjoyable to do business with.
Build Your Website
Many people mistakenly think they need extensive web design experience to build a website. Thankfully, creating a professional website is much easier than it used to be.
Several website-building platforms let you design your website by dragging and dropping all your critical visual elements into a pre-designed template. This makes working with your website interface simple; it is easy to change or update in the future, too.
You can also hire a web designer to build your website if this is something you have a budget for. Just be sure to shop around for the best quality designer, just as you did when designing your clinic space.
Whatever you choose to do, do not delay building your website. People will not take your business seriously unless you have one.
Your website should have an “about” page, a “services” page, and a “contact” page. You should also consider setting up a blog.
Start Marketing Your Practice
You must do some marketing if you start a chiropractic practice. Some people enjoy doing this, and others dread it.
Get started several months before you plan on opening for business. First, you must cultivate a social media presence, set up targeted ads on Google, and create print listings within your community.
If you are on a budget, you can save money by creating videos and standard press releases.
Attend local community events such as farmers’ markets, street fairs, and healthcare events. Consider setting up a booth if you want to connect with potential clients.
Contact your local chamber of commerce if you need extra help promoting and growing your practice.
Lastly, go out and meet other chiropractors in your community. They can offer referrals and advice for getting started.
Invest in the Best Technology
You must choose the right technology for your practice. At the very least, you will need chiropractor case management software.
Invest in a program that will help you automate monotonous and time-consuming tasks. For example, many people who own healthcare businesses use project management software such as ClickUp and Asana.
You can also invest in technology that will make it easy to convert your website visitors into clients.
Prepare to Open Your Chiropractic Clinic
If you are ready to open a chiropractic clinic but do not know how to get started, keep in mind that the first thing you will need to do is write a business plan. It is also essential to get the proper licenses and permits.
If you want to find out more about opening a business, do not forget to check out the Business section of our website.
Kenneth is a proud native of sydney, born and raised there. However, he pursued his education abroad and studied in Australia. Kenneth has worked as a journalist for almost a decade, making valuable contributions to prominent publications such as Yahoo News and The Verge. Currently, he serves as a journalist for The Hear Up, where he focuses on covering climate and science news. You can reach Kenneth at [email protected].
