Chiropractic Business Plan
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We have helped over 1,000 entrepreneurs and business owners create business plans and many have used them to start or grow their Chiropractic businesses.
Below is a template to help you create each section of your Chiropractic business plan.
Executive Summary
Business Overview
Clark Chiropractic is a startup chiropractic practice located in Beaverton, Oregon. The company was founded by Patterson Clark, a chiropractor for over thirty years in the Portland region, and his son, James Clark, a chiropractor for ten years in the Beaverton, Oregon area. Patterson Clark amassed a following of over two hundred patients during his years in the Portland company, about 80% of whom have already announced they will follow him to his new practice in Beaverton. Further, the clients have agreed to receive care from either Patterson or James as each becomes available in the office at their appointment time.
James Clark, has a current client list of over one hundred patients and, while they will remain in the Beaverton office, they have already agreed to receive care from either Patterson or James Clark as each becomes available in the office at the appointment time.
Product Offering
The following are the services that Clark Chiropractic will provide:
- The family-oriented chiropractic company will focus on providing comprehensive chiropractic care.
- Clark Chiropractic will offer a “7 Days a Week” patient care schedule.
- The chiropractors will focus on improving the overall well-being of their patients by promoting spinal alignment.
- Pain relief for the lower and upper back will include a variety of proven treatments, both western and Asian methods
- Optimal health being the goal, the chiropractic care team will follow up closely with struggling patients, offering pain relief through spinal manipulation and other forms of pain relief.
Customer Focus
Clark Chiropractic will target all former and current clients of the separate chiropractors. In addition, they will target residents of Beaverton. They will also target the universities and colleges in the region who may need care for athletes within the sports programs. They will target businesses who have medical coverage for employees that includes chiropractic care.
Management Team
Clark Chiropractic will be co-owned by Patterson Clark and James Clark. Patterson Clark, in the role of President, has successfully operated a chiropractic company for over thirty years in the Portland area. He recruited his son, James Clark, to join his chiropractic company as a co-owner and Vice President. The companies have joined clients in the Beaverton office as a superior location for most of their clients together.
James Clark recruited his Office Manager, Katie Shields, to be the new Administrative Manager, in the co-owned company, where she will oversee operations and handle the paperwork side of the company.
Patterson Clark and James Clark are graduates of the Clairemont Chiropractic University in Clairemont, Virginia. Both are dedicated to the overall health and wellness of patients and are considered to be “5 out of 5” in reviewers’ posts online.
Success Factors
Clark Chiropractic will be able to achieve success by offering the following competitive advantages:
- Friendly, knowledgeable, and highly-qualified team at Clark Chiropractic
- Team of chiropractic family members share the dedication of their work and support each other in techniques and practices to help patients achieve healthy bodies and minds
- New “7 Days a Week” clinic will be open for business to bring patients in need of urgent care during typically closed times of the week.
- Long history of superior care of clients along with verifiable success rates.
Download the Chiropractic business plan template (including a customizable financial model) to your computer here <–
Financial Highlights
Clark Chiropractic is seeking $200,000 in debt financing to launch its Clark Chiropractic. The funding will be dedicated toward securing the office space and purchasing office equipment and supplies. Funding will also be dedicated toward three months of overhead costs to include payroll of the staff, rent, and marketing costs for the print ads and marketing costs. The breakout of the funding is below:
- Office space build-out: $20,000
- Office equipment, supplies, and materials: $10,000
- Three months of overhead expenses (payroll, rent, utilities): $150,000
- Marketing costs: $10,000
- Working capital: $10,000
The following graph outlines the financial projections for Clark Chiropractic.
Company Overview
Who is Clark Chiropractic?
Clark Chiropractic is a newly established full-service chiropractic practice in Beaverton, Oregon. Clark Chiropractic will be the most reliable, cost-effective, and efficient choice for customers in Beaverton and the surrounding communities. Clark Chiropractic will provide a comprehensive menu of chiropractic and supporting services for any client to utilize. Their full-service approach includes a comprehensive set of services and products for health care.
Clark Chiropractic will be able to serve together over four hundred patients with detailed care and a structure that promotes a healthy lifestyle. The team of professionals are highly qualified and experienced in Clark Chiropractic and the two care providers remove all headaches and issues of the chiropractic patient and ensure all issues are taken care of expeditiously while delivering the best customer service.
Clark Chiropractic History
Since incorporation, Clark Chiropractic has achieved the following milestones:
- Registered Clark Chiropractic, LLC to transact business in the state of Oregon.
- Has a contract in place at one of the office buildings, where the chiropractors will set up their office space of 10,000 square feet.
- Reached out to numerous contacts to include chiropractors who have advice to share.
- Began recruiting a staff of ten assistants and three office personnel.
Clark Chiropractic Services
The following will be the services Clark Chiropractic will provide:
- The family-oriented chiropractic company will focus on providing comprehensive chiropractic care.
- Clark Chiropractic will offer a “7 Days a Week” patient care schedule.
- The chiropractors will focus on improving the overall well-being of their patients by promoting spinal alignment.
- Pain relief for the lower and upper back will include a variety of proven treatments, both western and Asian methods
- Optimal health being the goal, the chiropractic care team will follow up closely with struggling patients, offering pain relief through spinal manipulation and other forms of pain relief.
Industry Analysis
The chiropractic industry is expected to grow over the next five years to over $18 billion.
The growth will be driven by increasing numbers of individuals of all ages suffering from musculoskeletal issues, sports injuries, and chronic pain.
The growth will also be driven by an increasing number of families seeking preventive care and wellness services.
Costs will likely be reduced, as increasing numbers of patients will seek alternative care by chiropractors, which will help to moderately lower costs for every patient overall.
Download the Chiropractic business plan template (including a customizable financial model) to your computer here <–
Customer Analysis
Demographic Profile of Target Market
Clark Chiropractic will target all former and current clients of the individual chiropractors. In addition, they will target residents of Beaverton. They will also target the universities and colleges in the region who may need care for athletes within the sports programs. They will target businesses who have medical coverage for employees that includes chiropractic care.
The precise demographics for Clark Chiropractic are:
| Total | Percent | |
|---|---|---|
| Total population | 1,680,988 | 100% |
| Male | 838,675 | 49.9% |
| Female | 842,313 | 50.1% |
| 20 to 24 years | 114,872 | 6.8% |
| 25 to 34 years | 273,588 | 16.3% |
| 35 to 44 years | 235,946 | 14.0% |
| 45 to 54 years | 210,256 | 12.5% |
| 55 to 59 years | 105,057 | 6.2% |
| 60 to 64 years | 87,484 | 5.2% |
| 65 to 74 years | 116,878 | 7.0% |
| 75 to 84 years | 52,524 | 3.1% |
Customer Segmentation
Clark Chiropractic will primarily target the following customer profiles:
- Former and current customers of the individual chiropractors
- Universities and colleges with sports programs
- Corporations with insurance cover for employees that covers chiropractic care
- Residents of Beaverton, Oregon
Competitive Analysis
Direct and Indirect Competitors
Clark Chiropractic will face competition from other companies with similar business profiles. A description of each competitor company is below.
SpineAlign
SpineAlign has been in business for over twenty years within the Portland, Oregon region. The company targets individuals of all ages suffering from musculoskeletal issues, sports injuries, and chronic pain. The chiropractor, Dr. Jules Johnson, was a former minor league baseball player who focuses primarily on athletes with sports injuries, followed by family care.
SpineAlign’s team motto is “Together we Serve”, which is directed to the two hundred patients the clinic cares for and the marketing director, Klaus Jenson, shares his own sports injury story with high school athletes throughout the county. Klaus was saved from a lifetime of pain and discomfort after a major sports injury via the use of chiropractic care, which he attributes to Dr. Jules.
Beaverton Family Practice
Beaverton Family Practice consists of a traditional internal medicine physician who also serves as a chiropractor within the Beaverton area. Dr. Steven Clifton has served one hundred patients during the past five years and has retained to date almost 98% of those same patients. He does this through a combination of spinal manipulation that has healing properties and prescriptives that support natural health.
Beaverton Family Practice is a one-stop shop, which makes it incredibly convenient for families to visit. Patients are seen on a “drop in” basis, which adds to the convenience of this medical practice. In addition, the clinic is situated almost next to the high school, which leads to patient levels that continually grow as the athletic directors consistently bring in new patients.
Terry & Hatch Chiropractic Clinic
When Drs.Terry Lydine and Marielle Hatch decided to marry, they did so with the agreement that they would always share an office as chiropractors working together. Their patient base is approximately two hundred clients and they specialize in after-surgical spinal care. This means the bulk of the practice is with elderly patients, who may be young or up to ninety years old.
The Terry & Hatch Chiropractic Clinic is extremely active in the education of older and younger people, often giving seminars at community centers and events where residents of Portland gather. Their primary means of care is in the offering of personalized treatment plans for each client who visits and stays as a patient for more than six months.
Download the Chiropractic business plan template (including a customizable financial model) to your computer here <–
Competitive Advantage
Clark Chiropractic will be able to offer the following advantages over their competition:
- The family-oriented chiropractic company will focus on providing comprehensive chiropractic care.
- Clark Chiropractic will offer a “7 Days a Week” patient care schedule.
- The chiropractors will focus on improving the overall well-being of their patients by promoting spinal alignment.
- Pain relief for the lower and upper back will include a variety of proven treatments, both western and Asian methods
- Optimal health being the goal, the chiropractic care team will follow up closely with struggling patients, offering pain relief through spinal manipulation and other forms of pain relief.
Marketing Plan
Brand & Value Proposition
Clark Chiropractic will offer the unique value proposition to its clientele:
- Highly-qualified team of skilled employees who able to provide a comprehensive array of services and products for clients
- Various methods and techniques that are designed to best meet the physical care of their patients, including both western and Asian methodologies.
- Unique “7 Days a Week” clinic appointments available for clients
- The physical treatment of patients that focuses on primarily healthful habits and care of the body
Promotions Strategy
The promotions strategy for Clark Chiropractic is as follows:
Word of Mouth/Referrals
Clark Chiropractic has built up an extensive list of clients over the years by providing exceptional service and expertise to both sets of clients. Clark Chiropractic will combine current clients to form the new company, and those clients will assist in spreading the word of the new company with both doctors sharing in the company together.
Professional Associations and Networking
Both chiropractors will continue as members of their associations and industry gatherings and will network among members. Both will also approach corporations and various businesses within these associations to target new clients for the startup company.
Print Advertising
A direct mail piece will be sent to each resident in Beaverton, Oregon two weeks prior to the launch of the opening of the new clinic. Special discounts and family packages will be offered during the first month of the clinic’s opening with a launch event on the first day of opening to include prizes and special gifts for each attendee.
Website/SEO Marketing
Clark Chiropractic will utilize their website, which will be well organized, informative, and list all the services that Clark Chiropractic provides. The website will also list their contact information and list their available appointments for online reservations. The website will include SEO marketing tactics so that anytime someone types in the Google or Bing search engine “Chiropractic company” or “Chiropractor service near me”, Clark Chiropractic will be listed at the top of the search results.
Pricing
The pricing of Clark Chiropractic will be moderate and on par with competitors so customers feel they receive excellent value when purchasing their services.
Operations Plan
The following will be the operations plan for Clark Chiropractic.
Operation Functions:
- Patterson Clark will be the co-owner and president of the company. He will oversee all staff and manage client relations.
- James Clark will be the co-owner and the vice president of the company. He will oversee suppliers, vendors, patient care, early and late hours on-site, and help manage staff at the clinic.
- Katie Shields will be the new Administrative Manager, and will oversee operations and handle the paperwork side of the company in her role.
Download the Chiropractic business plan template (including a customizable financial model) to your computer here <–
Milestones:
Clark Chiropractic will have the following milestones completed in the next six months.
- 5/1/202X – Finalize contract to lease office space
- 5/15/202X – Finalize personnel and staff employment contracts for the Clark Chiropractic
- 6/1/202X – Finalize care plans for Clark Chiropractic clients
- 6/15/202X – Continue networking at industry events
- 6/22/202X – Begin moving into the Clark Chiropractic office
- 7/1/202X – Clark Chiropractic opens its clinic for business
Management Team
Clark Chiropractic will be co-owned by Patterson Clark and James Clark. Patterson Clark, in the role of President, has successfully operated a chiropractic company for over thirty years in the Portland area. He recruited his son, James Clark, to join his chiropractic company as a co-owner and Vice President. The companies have joined clients in the Beaverton office as a superior location for most of their clients together.
James Clark recruited his Office Manager, Katie Shields, to be the new Administrative Manager, in the co-owned company, where she will oversee operations and handle the paperwork side of the company.
Patterson Clark and James Clark are graduates of the Clairemont Chiropractic University in Clairemont, Virginia. Both are dedicated to the overall health and wellness of patients and are considered to be “5 out of 5” in reviewers’ posts online.
Financial Plan
Key Revenue & Costs
The revenue drivers for Clark Chiropractic are the patient fees they will charge to their clients for their services.
The cost drivers will be the overhead costs required in order to staff Clark Chiropractic. The expenses will be the payroll cost, rent, utilities, office supplies, and marketing materials.
Funding Requirements and Use of Funds
Clark Chiropractic is seeking $200,000 in debt financing to launch its chiropractic company. The funding will be dedicated toward securing the office space and purchasing office equipment and supplies. Funding will also be dedicated toward three months of overhead costs to include payroll of the staff, rent, and marketing costs for the print ads and association memberships. The breakout of the funding is below:
- Office space build-out: $20,000
- Office equipment, supplies, and materials: $10,000
- Three months of overhead expenses (payroll, rent, utilities): $150,000
- Marketing costs: $10,000
- Working capital: $10,000
Download the Chiropractic business plan template (including a customizable financial model) to your computer here <–
Key Assumptions
The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and in order to pay off the startup business loan.
- Number of Clients Per Month: 620
- Average Revenue per Month: $18,600
- Office Lease per Year: $100,000
Financial Projections
Income Statement
| FY 1 | FY 2 | FY 3 | FY 4 | FY 5 | ||
|---|---|---|---|---|---|---|
| Revenues | ||||||
| Total Revenues | $360,000 | $793,728 | $875,006 | $964,606 | $1,063,382 | |
| Expenses & Costs | ||||||
| Cost of goods sold | $64,800 | $142,871 | $157,501 | $173,629 | $191,409 | |
| Lease | $50,000 | $51,250 | $52,531 | $53,845 | $55,191 | |
| Marketing | $10,000 | $8,000 | $8,000 | $8,000 | $8,000 | |
| Salaries | $157,015 | $214,030 | $235,968 | $247,766 | $260,155 | |
| Initial expenditure | $10,000 | $0 | $0 | $0 | $0 | |
| Total Expenses & Costs | $291,815 | $416,151 | $454,000 | $483,240 | $514,754 | |
| EBITDA | $68,185 | $377,577 | $421,005 | $481,366 | $548,628 | |
| Depreciation | $27,160 | $27,160 | $27,160 | $27,160 | $27,160 | |
| EBIT | $41,025 | $350,417 | $393,845 | $454,206 | $521,468 | |
| Interest | $23,462 | $20,529 | $17,596 | $14,664 | $11,731 | |
| PRETAX INCOME | $17,563 | $329,888 | $376,249 | $439,543 | $509,737 | |
| Net Operating Loss | $0 | $0 | $0 | $0 | $0 | |
| Use of Net Operating Loss | $0 | $0 | $0 | $0 | $0 | |
| Taxable Income | $17,563 | $329,888 | $376,249 | $439,543 | $509,737 | |
| Income Tax Expense | $6,147 | $115,461 | $131,687 | $153,840 | $178,408 | |
| NET INCOME | $11,416 | $214,427 | $244,562 | $285,703 | $331,329 |
Balance Sheet
| FY 1 | FY 2 | FY 3 | FY 4 | FY 5 | ||
|---|---|---|---|---|---|---|
| ASSETS | ||||||
| Cash | $154,257 | $348,760 | $573,195 | $838,550 | $1,149,286 | |
| Accounts receivable | $0 | $0 | $0 | $0 | $0 | |
| Inventory | $30,000 | $33,072 | $36,459 | $40,192 | $44,308 | |
| Total Current Assets | $184,257 | $381,832 | $609,654 | $878,742 | $1,193,594 | |
| Fixed assets | $180,950 | $180,950 | $180,950 | $180,950 | $180,950 | |
| Depreciation | $27,160 | $54,320 | $81,480 | $108,640 | $135,800 | |
| Net fixed assets | $153,790 | $126,630 | $99,470 | $72,310 | $45,150 | |
| TOTAL ASSETS | $338,047 | $508,462 | $709,124 | $951,052 | $1,238,744 | |
| LIABILITIES & EQUITY | ||||||
| Debt | $315,831 | $270,713 | $225,594 | $180,475 | $135,356 | |
| Accounts payable | $10,800 | $11,906 | $13,125 | $14,469 | $15,951 | |
| Total Liability | $326,631 | $282,618 | $238,719 | $194,944 | $151,307 | |
| Share Capital | $0 | $0 | $0 | $0 | $0 | |
| Retained earnings | $11,416 | $225,843 | $470,405 | $756,108 | $1,087,437 | |
| Total Equity | $11,416 | $225,843 | $470,405 | $756,108 | $1,087,437 | |
| TOTAL LIABILITIES & EQUITY | $338,047 | $508,462 | $709,124 | $951,052 | $1,238,744 |
Cash Flow Statement
| FY 1 | FY 2 | FY 3 | FY 4 | FY 5 | ||
|---|---|---|---|---|---|---|
| CASH FLOW FROM OPERATIONS | ||||||
| Net Income (Loss) | $11,416 | $214,427 | $244,562 | $285,703 | $331,329 | |
| Change in working capital | ($19,200) | ($1,966) | ($2,167) | ($2,389) | ($2,634) | |
| Depreciation | $27,160 | $27,160 | $27,160 | $27,160 | $27,160 | |
| Net Cash Flow from Operations | $19,376 | $239,621 | $269,554 | $310,473 | $355,855 | |
| CASH FLOW FROM INVESTMENTS | ||||||
| Investment | ($180,950) | $0 | $0 | $0 | $0 | |
| Net Cash Flow from Investments | ($180,950) | $0 | $0 | $0 | $0 | |
| CASH FLOW FROM FINANCING | ||||||
| Cash from equity | $0 | $0 | $0 | $0 | $0 | |
| Cash from debt | $315,831 | ($45,119) | ($45,119) | ($45,119) | ($45,119) | |
| Net Cash Flow from Financing | $315,831 | ($45,119) | ($45,119) | ($45,119) | ($45,119) | |
| Net Cash Flow | $154,257 | $194,502 | $224,436 | $265,355 | $310,736 | |
| Cash at Beginning of Period | $0 | $154,257 | $348,760 | $573,195 | $838,550 | |
| Cash at End of Period | $154,257 | $348,760 | $573,195 | $838,550 | $1,149,286 |
Chiropractic Business Plan FAQs
What Is a Chiropractic Business Plan?
A chiropractic business plan is a plan to start and/or grow your chiropractic business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.
You can easily complete your Chiropractic business plan using our Chiropractic Business Plan Template here.
What are the Main Types of Chiropractic Businesses?
There are a number of different kinds of chiropractic businesses, some examples include: Pediatric Chiropractic, Sports Chiropractic, and Radiology Chiropractic.
How Do You Get Funding for Your Chiropractic Business Plan?
Chiropractic businesses are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.
What are the Steps To Start a Chiropractic Business?
Starting a chiropractic business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.
1. Develop A Chiropractic Business Plan - The first step in starting a business is to create a detailed chiropractic business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.
2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your chiropractic business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your chiropractic business is in compliance with local laws.
3. Register Your Chiropractic Business - Once you have chosen a legal structure, the next step is to register your chiropractic business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws.
4. Identify Financing Options - It’s likely that you’ll need some capital to start your chiropractic business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms.
5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations.
6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events.
7. Acquire Necessary Chiropractic Equipment & Supplies - In order to start your chiropractic business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation.
8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your chiropractic business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising.