When you want to start a practice, you have two options: purchase an existing one or begin an entirely new one from the ground up. While each situation is unique, you have a few aspects you should consider before you purchase or immediately race out to start your chiropractic office. And Brand Chiro, a North Carolina-based company offering chiropractic web design and other services for marketing for chiropractors, has some insight.
Bypass Some of the Stress
One pro of buying an existing practice is that you bypass some of the stressors of starting a practice on your own, such as hiring staff. This can be quite a challenge since not everyone is as skilled and experienced as they claim. Plus, getting into the rhythm of a new practice and routine is challenging and takes time. You completely skip over this headache.
Could See Profit Your First Year
Speaking from experts in advertising for chiropractors, Brand Chiro has seen it way too many times; people anticipate they’re going to get their initial return back in the first year and generate a profit. This, however, isn’t the reality of starting a business. Typically, during the first year, most businesses are lucky to break even, making it quite a gamble. However, with an already established practice, you’re more likely to break even and turn a profit since you’ll already have a reputation in the community.
Could Mean Having to Overcome a Negative Reputation
Even if a place has good reviews online doesn’t necessarily mean that it’s everyone’s cup of tea. For instance, have you ever gone to a restaurant that was rated highly but felt it didn’t live up to its reviews? The same could happen to you. If you purchase a practice that seemingly has a positive reputation online, you might neglect to realize that much of the area isn’t happy with the practice. Therefore, you’ll buy yourself a bomb that you’ll need to deactivate quickly to improve your reputation and pull a profit.
Will Have Instant Patients
While Brand Chiro offers marketing for chiropractors to get you patients quickly, no matter how solid your marketing plan is, you may still fall short of getting patients through your door immediately. It may take some time for people to start finding your practice online and hearing about it from others. However, when you purchase a practice, you’ll already have routine patients and won’t have that lull. Therefore, you can slowly make changes, such as altering your chiropractic web design to meet your philosophy and brand, rather than have to quickly set up every aspect of your practice to lure patients in as soon as possible.
May Clash With the Staff
Nothing will prepare you for working with a staff that you don’t choose. It’s hit or miss in these cases. Sometimes, everyone meshes together well. In other cases, though, the staff may be apprehensive to change and not willing to take your lead and respect you as their new boss instantly. As a result, you may need to work hard to connect with the staff and find management techniques that work best for everyone.
May Not Be What You Initially Thought
There isn’t a lemon law for chiropractic offices, though there are some legal guidelines that can ensure you aren’t completely ripped off in the purchasing process. However, you should know that you may fall in love with the location and everything else about an existing practice, only to find there’s a great deal you want to change. All of this could cost you the time and money that you weren’t anticipating.
At Brand Chiro, we have no preference as to whether you purchase a practice or start your own. We can help you using our chiropractic website design services and other marketing for chiropractors either way. We can provide advertising for chiropractors on social media and other mediums to get the word out, whether you’re starting anew or taking over an existing practice.
Book a consultation online with Brand Chiro today to discuss your practice’s needs, or dial us directly at 678-562-7893.