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Important Factors To Consider When Developing A Start-Up Business Plan

WASTE SPENDING & FINANCIAL MISTAKES MADE BY CHIROPRACTORS!

OVERHEAD/EXPENSES

The following information is based on actual research and recent clinic data from clinics that Dr. Morrow has consulted with and tracked.

  1. Start-Up Clinic Equipment & Furnishing Costs. This can be accomplished for as little as $11,500, but most chiropractors spend over $27,000.
  2. Renting/Leasing. Chiropractors can waste up to $40,000 on rent payments over the duration of a five-year lease. This is mainly because the space rented is usually larger than required and the doctor does not realize that landlords will give preferential lease rates/schemes to attract professional long-term tenants.
  3. Leasehold Costs/Office Renovations. Practitioners can waste $25,000 and more on leasehold costs/office renovations. This is mainly because chiropractors do not know what leasehold renovations cost or how to negotiate leases optimally.
  4. Wages. Having employees working during non-peak times can waste over $8,000 in the first year of practice.
  5. Telephone/Yellow pages. Over spending on the number of phone lines, leasing expensive phone hardware and over spending on yellow page advertising can lead to $2,400 a year in waste spending.
  6. Advertising. Over spending of $3,000 a year and more occurs as practitioners use ineffective advertising mediums and do not understand the most cost effective ways to reach their target market.
  7. Financing costs. A term loan is secured to pay for the Total Start-Up costs which is comprised of equipment, furniture, signage and leaseholds. This should average $15,000 per clinic start-up and cost $295 / month for sixty months. With waste spending this can cost up to $60,000 per clinic start-up and cost $1,190 / month for sixty months. This amounts to a total of $53,700 in overspending, over a five-year period.

Go to the Membersí Only area of the web site to avoid the above waste spending and save thousands of $$Dollars. You will view:

  • An itemized Total Start-Up Cost list.
  • An itemized Start-Up Equipment & Furnishing Cost list.
  • An itemized Projected Monthly Expenses list.
  • An itemized Projected Monthly Revenue list.
  • Accurate financial assumptions.
  • Information on how to save money when negotiating leases.
  • Information on how to save money on leasehold costs.
  • And much more.
 

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