Chiropractic Office Business Plan
COLE'S CHIROPRACTIC
1450 East Wells Street
Madison, WI 53705
This plan is balanced and economical, avoiding verbosity by dedicating only as much time as necessary for each section. Competence in Chiropractic Science is displayed and a brief description of the business operations is given, making the proposal focused and streamlined. Emphasized are the expenditures and startup costs, justifying the loan amount requested.
- PURPOSE
- CHIROPRACTIC
- LOCATION
- MARKET
- PROMOTION PLAN
- PATIENT MANAGEMENT
- PROGRAM OF CARE
- DURATION OF CARE
- FEE SCHEDULE 1994
- FEE SCHEDULE 1998
- PRE-OPERATING EXPENSES
- MONTHLY OPERATING EXPENSES
PURPOSE
We are seeking to lease a Continental X-ray Vertical TV Imaging System with a TM-30 R/F generator, approximate value $70,000, for use in the to be established Cole's Chiropractic Clinic.
The following prospectus will provide information concerning the profession of chiropractic, office description, specific expenditures, practice and marketing plans, and supporting documents. We expect to be open during June 1994 at 1450 East Wells Street, Madison, Wisconsin.
CHIROPRACTIC
Chiropractic is a profession that has been rapidly developing since its discovery in 1895 by D.D. Palmer. Today, there are approximately 40,000 doctors of chiropractic in the United States. Chiropractors are primary health care providers, licensed in all 50 states, and are participants in most major medical insurances.
Chiropractic is defined as the philosophy, science, and art of things natural, with the objective of locating, analyzing, and correcting the vertebral subluxation complex. The subluxation is the improper positioning of a vertebra from the ideal spinal model which causes interference of a nerve impulse from the brain to the body and back. According to Gray's Anatomy we know that the central nervous system controls and regulates the entire body. If we have an interference of a nerve to a particular part of the body, this part has lost the necessary communication to function properly. The rest of the body is also adversely affected since no one part affected can not effect the whole body.
Doctors of chiropractic are the only professionals who are trained to locate, analyze, and correct the vertebral subluxation complex. Chiropractors adjust the vertebral subluxation complex by introducing a specific force in the direction that would thereby restore the biomechanical integrity, thus restoring the nerve impulse.
LOCATION
Cole's Chiropractic Clinic will be located at 1450 East Wells St. This office is centrally located in Madison, and allows for easy access both entering and exiting the parking area.
The office space is 1050 square feet, consisting of the following: 1 Reception Room, 1 Secretary Office, 1 X-ray Department, 1 Darkroom, 1 Restroom, 2 Adjusting Rooms, and 1 private office.
MARKET
Cole's Chiropractic Clinic will primarily serve a population of over 51,000 in a ten-mile radius.
There are only 20 doctors of chiropractic in this ten-mile radius. The equipment that we will use in our office is the latest in chiropractic technology. The Videofluoroscopy X-ray unit in our office will be the only one within 150 miles of Madison. This machine is capable of recording motion, with a significant reduction of radiation exposure to the patient. We will offer other doctors of chiropractic use of this equipment for a small fee so their patients can also benefit.
PROMOTION PLAN
Grand Opening: Personal invitations to family and friends. Invitations to residence and commercial establishments within 1 mile.
Advertisement: Newspaper and other publications press releases. Yellow pages in phone book. Large business sign in front of office.
Public Relations: Continuous series of public health awareness seminars. Participation in local civic groups.
Patient Education: Quarterly newsletter, Health Tracks: Chiropractic a New Beginning, Office lending library.
Patient Relations: Systematic patient follow-up procedure. Special occasion and thank-you for referral mailings.
PATIENT MANAGEMENT
Day 1 - Initial office visit
Consultation
Terms of acceptance
Case History
Comprehensive Examination
X-rays
Videofluoroscopy / Cineradiography
Patient Education
Day 2 - Extended office visit
Report of findings
Recommended program
Instrumentation
Spinal Examination and Adjustment
Scheduling of next appointment
Future Office Visits
Instrumentation
Spinal Examination and Adjustment if necessary
PROGRAM OF CARE
Initial Care: (Acute) 3 visits per week
Reconstructive Care: (Subacute) 2 visits per week; (Chronic) 1 - 2 visits per month
Maintenance Care: 1 - 2 visits per month
DURATION OF CARE
Initial Care: 3 - 6 weeks
Reconstructive Care: 4 - 8 weeks
FEE SCHEDULE 1994
| Initial Care: | |
| Examination | $ 35.00 |
| Office Visit / Adjustments | 25.00 |
| X-rays: Cervical | 20.00 / per view |
| Lumbar / Pelvic | 30.00 / perview |
| Cineradiography | 75.00 / per region |
| Reconstructive Care | |
| Office Visit / Adjustments | $ 25.00 |
FEE SCHEDULE 1998
| Initial Care: | |
| Examination | $ 45-100 |
| Office Visit / Adjustments | 32.00 |
| X-rays: Cervical | 30.00./per view |
| Lumbar / Pelvic | 40.00/per view |
| Cineradiography | 100.00/per region |
| Reconstructive Care | |
| Office Visit / Adjustment | $ 32.00 |
PRE-OPERATING EXPENSES
| DEPOSITS: | Lease (building) | $ 1,000.00 |
| Insurances | 250.00 | |
| Lease (X-ray) | 5,000.00 | |
| OFFICE SUPPLIES: | Bookkeeping | 250.00 |
| Letterhead | 100.00 | |
| Filing Cabinet | 150.00 | |
| Business Cards | 30.00 | |
| Patient Folders | 50.00 | |
| Telephones (2) | 100.00 | |
| Computer Paper | 25.00 | |
| Miscellaneous | 200.00 | |
| PATIENT EDUCATION: | Health Tracks | 50.00 |
| OFFICE EQUIPMENT: | Reception Room Chairs | 700.00 |
| Secretarial Chair | 150.00 | |
| Adding Machine | 30.00 | |
| Answering Machine | 100.00 | |
| Computer | 1,800.00 | |
| Office desk | 300.00 | |
| Executive Chair | 150.00 | |
| CHIROPRACTIC EQUIPMENT: | Automatic Processor | 3,600.00 |
| X-ray Film | 200.00 | |
| Hylo (Zenith 230) | 7,150.00 | |
| X-ray view box | 100.00 | |
| Precision Adjustor | ** | |
| DT-25 Graph system | ** |
| REMODELING: | Room Divider, Carpeting, | |
| Paint, etc. | 2,000.00 | |
| Electrical Wiring | 500.00 | |
| Miscellaneous | 500.00 | |
| TOTAL | $ 10,250.00 | |
| TOTAL PRE-OPERATING EXPENSES | $ 24,485.00 | |
| ** Note: This equipment has been purchased. | ||
| Precision Adjustor | $ 1,800.00 | |
| DT-25 Graph System | 2,200.00 | |
MONTHLY OPERATING EXPENSES
| MONTHLY OPERATING EXPENSES | ||
| * These months no student loan payments are due | ||
| ** Dr. Jill Cole begins repayment of student loans in Sept. 1994 | ||
| *** Dr. Roger Cole begins repayment of student loans in March 1995 | ||
| OFFICE: | ||
| Lease (Building) | $1,000.00 | |
| Lease (X-ray) | 1,050.00 | |
| Acct. | 133.00 | |
| Telephone | 40.00 | |
| Advertising | 100.00 | |
| Utilities | 100.00 | |
| Office Manager | 900.00 | |
| Equipment loan payment ($ 25,000 / 10 years) | 300.00 | |
| Office Supplies | 75.00 | |
| Insurances (Malpractice, Fire, Theft) | 100.00 | |
| TOTAL MONTHLY OFFICE EXPENSES | $ 3,798.00 | |
| PERSONAL: | ||
| Rent | 375.00 | |
| Student Loan | 600.00 | ** |
| Utilities | 100.00 | |
| Telephone | 40.00 | |
| Transportation (Insurance, Gas, Maint.) | 150.00 | |
| Food | 200.00 | |
| Clothing | 100.00 | |
| Retirement | 200.00 | |
| Miscellaneous | 200.00 | |
| TOTAL PERSONAL EXPENSES | $ 1,965.00 | |
| BUSINESS: | ||
| Monthly | $ 3,665.00 | |
| 6 Months | 21,990.00 | |
| 12 Months | 43,980.00 | |
| PERSONAL: | ||
| June, July, August | 1,365.00 | * |
| Sept thru March | 1,965.00 | ** |
| April, May | 2,565.00 | *** |
| 6 Months | 9,990.00 | |
| 12 Months | 22,980.00 | |
| COMBINED: | (Business + Personal) | |
| June, July, August | $15,090.00 | |
| 6 Months | 31,980.00 | |
| 12 Months | 66,960.00 | |
AWARDS AND HONORS
Received by Roger Cole
- Selected to be in Who's Who Among Students in American Colleges as a Student at Sherman College.
- Selected to the National Deans List.
- President of Student Government.
- Administrative Council Representative.
- Strategic Planning Committee Member.