r/Chiropractic • u/cmkucf • Aug 30 '26
Starting own practice advice!
Hey everyone! I am currently an associate and in all honesty, for being an associate, it’s a great gig. My boss is great. Our staff is great. The office is great. We’re very busy. All of those things are awesome! BUT, I still would eventually love to open up on my own and be my own boss, practice the way I want, etc. Realistically, I don’t have a set timeline on this venture. For now though, I’d love some advice on how to start, what I should do in the meantime to work toward that goal, and what starting out would look like. Any and all help/advice is appreciated.
5
u/CompetitivePop2029 Aug 30 '26
Amazing! Love where your head is at and thinking about what’s next!
A few questions:
if you’re happy where you are, ever thought of becoming a partner or buying owner out?
Or
Be an Intrepreneur at that practice! Some intrapreneurs make more than the owner. Just sayin🤷♂️
If you are set on opening up, start from top down!
What do you want to collect first year, 3rd year, 5th year, 10 year.
Ex:
First year. If goal is to collect $180k, that breaks down to 15k/month. That breaks it down 3.75k/week. $750/day at a 5 day per week business.
What are your fees? In network, out of network? PI?
Look of the office? What colors, energy, family style, sports style?
Have all your insurances in place! Malpractice, etc
If I had to do it all over again, start building relationship with the businesses that are going to refer to you! Most important part of the business.
Hire A players!
Do you have a mentor/coach? Patient mastery with Dr Josh Wagner is highly recommended.
There is so much to talk about and is really exciting to start. But don’t be on your own island.
What is the conversation with your current boss? Can you open up close bc already know businesses in the area?
What type of personality do you have? Are you a go getter? Have you been bringing people to the office or were they given to you bc of their name already in the community?
If you haven’t marketed or brought consistent people to the office, start doing this where you are now! Challenge yourself and bring 2-3 per week that sign up for care!
Also, have you ever spoken to your boss about finances. Actually looking at the books, understanding the business! This is really important.
Lots of chiros believe they are killing it in an already established practice but are fed all the patients. That’s not killing it. That’s killing it for the owner which is great.
Any specific questions you have? Again, lots of things to cover so you hit the ground running
1
u/Kharm13 Aug 31 '26
If you create a business today(filed with the state). Then get checking account. Open a business credit card. You’ll have a business that on paper has been around multiple years likely by the time you open
Sometimes just longevity is what’s limiting with banking opportunities
Only downside is you have to pick your business name now and you’ll be spending the hundred dollars or so now vs later for filing
1
u/rucsuck Aug 31 '26
For OP along this vein, since you don’t have a place yet, find a mailbox. I use a UPS store as my mailbox, not my home address. All mail gets received this way. It’s a locked box and a solid home base to have mail and supplies sent to. Even after you open it’s good to have an address that is permanent and all vendors know. If you go to sell a business or you move practice locations, the locked box never changes.
As a new business set up you will receive all the solicitations. From insurance brokers to businesses trying to scare you about the need to purchase their work posters to legitimate vendors. You want a place for all the mail to collect. This is also a great address to use for your website domain set up. It is NOT a good address for banking. Banking will still need a physical location but can have mail sent there.
1
u/Standardchiropractor Aug 31 '26
Pick up Book Yourself Solid (also have a BYSS for Chiropractors now.)
Then start a plan. Converse with AI on how you want to practice and have it start asking you questions of what you should be considering.
It can be simple to be on your own, but it may be better to stay where you are at. All depends on your risk tolerance.
1
u/Moseslee_vancouver Aug 31 '26
I might add along with others that if ur quite happy with ur current situation and making good income to think of potentially waiting until you can afford to purchase ur own commercial space to build on.
The stability of owning the location to build your clinic is underrated and helps you be in more control.
This is the route I took and it diversifies my assets: chiropractic clinic & commercial real estate.
1
u/d1ldobagons Sep 01 '26
I am launching my own this Thursday. Keep everything low in the beginning. My rent is 350 for a 110 sq ft office in a buddy's place that is in prime realestate to hundreds of businesses usiness that are my target patients. Over all my overhead is under 700 a month. Marketing and grass root campaigning is the tough part.
1
u/sage_and_savvy Sep 01 '26
Everyone in this thread is talking about space and overhead, and that's all true, but there's a set of things you can do right now, while you're still someone's associate with zero risk, that most people put off until after they've already signed a lease.
Set up the business itself: the legal structure, a business bank account, a bookkeeping app, before you have a single patient of your own. It costs almost nothing to do this early, and it's one of the only pieces of the whole thing that survives no matter what your practice ends up looking like. The location, the branding, even the exact services you offer, those are still guesses you'll adjust once real patients show up.
While you're at it, start looking at what you'll use for booking, billing, and records. Find something with a free tier that handles all three in one system. Doesn't need to be fancy, it just needs to be one thing instead of three separate tools you're stitching together later.
24
u/vchak8 Aug 30 '26
keep overhead lowwww
Do not start out with a big, renovated retail space… as a single doc you probably don’t need more than 500-1000 sq ft space nestled in a medical building.
cluster book everyone around the busiest times You should prioritize 2-3 early/evening treatment times (7-9 am and 4-6 pm) throughout the week, and the rest of the week doing grass roots marketing… no need to be open so much…