Developing Your Practice Description

The practice description section of your business plan defines what the business is, why people will seek out the services and provides a guide to govern the business through the inevitable gray areas where you will have to make decisions.

Posted in Planning on Tuesday, March 15, 2016

Questions to Answer

It is important to clearly answer these questions:

What will the practice do?
Who will it cater to?
What is the market demand for the proposed services?
What is chiropractic and what does it do for the patient?
What products and services will be offered?

Industry Analysis

As part of the practice description, you should also provide an analysis of the business environment on a macro level in terms of the demand for what you (and your competitors) intend to provide. It sets the stage for your reasoning, explaining why there is a demand for the services your practice will provided and whether the market is growing, declining, etc.

Areas you need to address in this section include:

Size of the market globally and industry trends
Rivals/competition for the health care dollar
Technology and how it impacts the market
Growth prospects for the market
Alternatives to chiropractic (from the public's point of view)

Resources by Topic

Knowledge to keep you sharp

Whether you're looking for articles, videos, resources, or tools on the business aspects of starting or growing a chiropractic practice, we're here for you.

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