Free Chiropractic Practice Business Plan
For Raising Capital from Investors, Banks, or Grant Companies!
Please note that the financials
in this complete free business plan are completely fictitious and may not
match the text of the business plan below. This free business plan demonstration
purposes only. If you are interested in purchasing the completed editable MS Word
and Excel documents for this business plan, please click the button below! Also,
the text of the business plan is formatted with a fully automated
table of contents.
It should be noted that there is no special software required to use these
templates. All business plans come in Microsoft Word and Microsoft Excel format.
Each business plan features:
- Excecutive Summary
- Company and Financing Summary
- Products and Services Overview
- Strategic Analysis with current research!
- Marketing Plan
- Personnel Plan
- 3 Year Advanced Financial Plan
- Expanded Financial Plan with Monthly Financials
- FREE 30 Page Sample Private Placement Memorandum
- FREE PowerPoint Presentation for Banks, Investors,
or Grant Companies!
- All plans are updated for 2013!
1.0 Executive Summary
The purpose of this business plan is to raise $150,000 for the development of a chiropractic practice while showcasing the expected financials and operations over the next three years. Chiropractic Practice, Inc. (“the Company”) is a New York based corporation that will provide general chiropractic care to customers in its targeted market. The Company was founded in 2009 by Dr. John Doe.
1.1 Products and Services
Dr. Doe will render general chiropractic care to his patients. His services include spinal adjustments, general examinations, electronic tissue massage, and heat therapies that focus on providing patients with relief for back pain. The practice will also generate revenues from the sale of soft medical supplies used in conjunction with treatments rendered by Dr. Doe. The third section of the business plan will further describe the services offered by the Chiropractic Practice.
1.2 The Financing
At this time, Dr. Doe is seeking to raise $125,000 via bank loan for the development of the business. The terms, interest rate, and loan covenants are to be determined at the time of negotiation. However, this business plan assumes that the Company will receive a 10 year loan with a 9% interest rate due on the outstanding principal balance.
1.3 Mission Statement
Dr. Doe’s mission is to become the recognized leader in its targeted market for general chiropractic services.
1.4 Mangement Team
The Company was founded by Dr. John Doe. The Founder has more than 10 years of experience as a practicing chiropractor. Through his expertise, he will be able to bring the operations of the business to profitability within its first year of operations.
1.5 Sales Forecasts
Dr. Doe expects a strong rate of growth at the start of operations. Below are the expected financials over the next three years.
1.6 Expansion Plan
The Founder expects that the business will aggressively expand during the first three years of operation. Dr. Doe intends to implement marketing campaigns that will effectively target individuals and families within the targeted market.
2.0 Company and Financing Summary
2.1 Registered Name and Corporate Structure
Chiropractor Practice, Inc. The Company is registered as a corporation in the State of New York.
2.2 Required Funds
At this time, the Chiropractor Practice requires $125,000 funds. Below is a breakdown of how these funds will be used:
2.3 Investor Equity
At this time, Dr. Doe is not seeking an equity investment from a third party.
2.4 Management Equity
Dr. Doe will retain a 100% ownership interest in the Chiropractor Practice, Inc.
2.5 Exit Strategy
If the business is very successful, Dr. Doe may seek to sell the practice to a third party for a significant earnings multiple. Most likely, the Company will hire a qualified business broker to sell the business on behalf of the practice. Based on historical numbers, the business could fetch a sales premium of up to 2 to 3 times earnings.
3.0 Products and Services
Below is a description of the services offered by the Chiropractic Practice.
3.1 Chiropractic Services
Dr. Doe is a licensed chiropractor, and as discussed in the executive summary he will render general chiropractic services that focus on spinal issues.
3.2 Sales of Medical Goods
The secondary stream of revenue for the business will come from the sale of medical goods including braces, supplements, and other soft medical goods used in conjunction with the treatments provided by Dr. Doe. Management expects that this aspect of the Company’s operations will aggregately generate 10% of its sales.
4.0 Strategic and Market Analysis
4.1 Economic Outlook
This section of the analysis will detail the economic climate, the chiropractic industry, the customer profile, and the competition that the business will face as it progresses through its business operations. Currently, the economic market condition in the United States is in recession. This slowdown in the economy has also greatly impacted real estate sales, which has halted to historical lows. Many economists expect that this recession will continue until mid-2009, at which point the economy will begin a prolonged recovery period. However, chiropractic practices operate with great economic stability as people will continue to require care despite deleterious changes in the general economy.
4.2 Industry Analysis
Chiropractic practices provide aggregate revenues of $9 billion a year and employ 109,000 people. There are approximately 34,000 private chiropractic practices in the US. The industry is expected to grow faster than that of the general economy as many baby boomers will require a greater level of spinal care over the next ten to twenty years.
4.3 Customer Profile
In this section of the analysis, you should describe the type of customer you are seeking to acquire. These traits include income size, type of business/occupation; how far away from your business is to your customer, and what the customer is looking for. In this section, you can also put demographic information about your target market including population size, income demographics, level of education, etc.
4.4 Competitive Analysis
This is one of the sections of the business plan that you must write completely on your own. The key to writing a strong competitive analysis is that you do your research on the local competition. Find out who your competitors are by searching online directories and searching in your local Yellow Pages. If there are a number of competitors in the same industry (meaning that it is not feasible to describe each one) then showcase the number of businesses that compete with you, and why your business will provide customers with service/products that are of better quality or less expensive than your competition.
5.0 Marketing Plan
The Chiropractic Practice intends to maintain an extensive marketing campaign that will ensure maximum visibility for the business in its targeted market. Below is an overview of the marketing strategies and objectives of the practice.
5.1 Marketing Objectives
• Establish relationships with referring physicians within the targeted market.
• Implement a local campaign with the Company’s targeted market via the use of flyers, local newspaper advertisements, and word of mouth advertising.
• Develop an online presence by developing a website and placing the Company’s name and contact information with online directories.
5.2 Marketing Strategies
Dr. Doe intends on using a number of marketing strategies that will allow the Chiropractic Practice to easily target men, women, and families within the target market. These strategies include traditional print advertisements and ads placed on search engines on the Internet. Below is a description of how the business intends to market its services to the general public. The Company will also use an internet based strategy. This is very important as many people seeking local services, such as chiropractors, now the Internet to conduct their preliminary searches. Dr. Doe will register the practice with online portals so that potential customers can easily reach the business. The Company will also develop its own online website showcasing Dr. Doe’s credentials, the practice’s locations, hours of operation, and accepted insurance. The Company will maintain a sizable amount of print and traditional advertising methods within local markets to promote the general chiropractic services that the Company is selling.
In this section, describe the pricing of your services and products. You should provide as much information as possible about your pricing as possible in this section. However, if you have hundreds of items, condense your product list categorically. This section of the business plan should not span more than 1 page.
6.0 Organizational Plan and Personnel Summary
6.1 Corporate Organization
6.2 Organizational Budget
6.3 Management Biographies
In this section of the business plan, you should write a two to four paragraph biography
about your work experience, your education, and your skill set. For each owner or
key employee, you should provide a brief biography in this section.
7.0 Financial Plan
7.1 Underlying Assumptions
• Chiropractor Practice will have an annual revenue growth rate of 10% per year.
• The Owner will acquire $150,000 of debt funds to develop the business.
• The Company shall settle most short term payables on a monthly basis.
7.2 Sensitivity Analysis
In the event of an economic downturn, the Company will not see a major decline in revenues. Chiropractic services are in demand regardless of the general economic climate as they are an essential service for health.
7.3 Source of Funds
7.4 General Assumptions
7.5 Profit and Loss Statements
7.6 Cash Flow Analysis
7.7 Balance Sheet
7.8 General Assumptions
7.9 Business Ratios
Expanded Profit and Loss Statements
Expanded Cash Flow Analysis