So, you have graduated from chiropractic school and are ready to start working as a chiropractor. Exactly what do you do right now?

Beginning a chiropractic business in this day and age requires a well thought out chiropractic business plan. Times have changed, and so have the regulations. Your chiropractic business model needs to be one that can endure the numerous threats to a chiropractic business. A good business plan will force you to really think out the innumerable things that are necessary when starting a new business. Do not try to do what everybody else is doing. Stay focused, set goals, and monitor your development month after month.

It is important for new chiropractors to assess their market: its strengths, weaknesses, opportunities, and threats. This is known as a SWOT analysis.

A strength of chiropractic could be that it targets a huge market, and that is, people with musculoskeletal pain. Additionally, medical treatment for common issues of musculoskeletal pain is not very efficient.

A weakness of chiropractic is that only 6-12% of the population utilize chiropractic. This can be a problem in an area that is over loaded with chiropractors.

An opportunity in chiropractic is to acquire a large part of your market by doing the things other chiropractors in your area aren't doing. In other words, by being unique in some way. Promoters call this your distinctive selling proposition.

Threats to chiropractic incorporate low insurance reimbursement, down economies and weak political backing. As health care polices of the country are crafted, chiropractic can be left out due to deficiencies in corporate sponsorship as well as relatively weak interest groups.

After completing the SWOT analysis, prospective chiropractors will have a good idea of what lies ahead. They will be able to make proper preparations to exploit the strengths and opportunities, and negate the effects of the weaknesses and threats.

A conservative path to follow is to start slow and build, or scale up according to growth. A solid chiropractic business plan could be to start off with a single room office; perhaps renting one in an established chiropractor's office, and use an answering service rather than a full time employee. With a low overhead model, a chiropractor can devote the majority of of his energy where it is needed, and that is to develop his business; i.e., get new patients and build up to a critical mass. In the event that one jumps head first into a high overhead business model without first having built up a decent sized practice, it will be extremely difficult to focus on building up the business due to the stress and worry of dealing with months of negative cash flow.

To summarize, before you spend a dime on your chiropractic business, jot down a comprehensive chiropractic business plan. It is recommended to begin small, keeping overhead as low as allowable, and scale upward only when appropriate by your business volume.

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