The business plan for any business is just the starting point. You know where you want to be based, you know your clients, and you know what you’re going to be charging. Heck, you might even have an investor or two lined up as well as a loan from the bank. You’re ready to get this thing started.
Let’s take a physical therapy practice as reference for the example in this article.
Location and Office Space
This is going to make a difference to who and cannot get to you. There will be a range of people with a lot of different needs. Some will need to use the transport ambulance to get to you, others a car and others will be on public transport. You’ll need to be accessible for all.
Parking spaces are a must. For clients and staff. You’ll also need to consider who your nearest competition is.
Square footage is going to make a difference to how many clients you can book and have in for therapy each day. The more rooms you have, the better. You’ll also need a toilet, staff room, changing room, and an office for yourself. Plus a reception.
Negotiate
You aren’t as beholden to the person you are renting from as you might think. You don’t want to get locked into a contract that is too long, because you actually aren’t sure yet what you will make monthly. But, you’ll also not want to have a short-term lease, then in 6 months see a considerable price rise.
The best thing you can do here is getting a solicitor to handle all of this for you. Let them look at the finances and the contract and find the best construction for your business.
Paper Work
You will have piles and piles of paperwork to take care of. A great tip is, while you have a solicitor taking a look at the rental agreement, you can simply ask how much for the extra work on top.
You’ll need to:
- Finalize your business name and have it registered legally at all applicable places
- Have a license to practice PT
- File all of the articles of incorporation
- Get the right commercial insurance
Hiring Staff
After all of that is out of the way it is time to hire some staff. Which is a lot of fun. You are looking to build a team that will compliment your long term vision. The chances are you know a lot of people who work in this specific area already – and while it is never recommended that you poach staff, you can tell them you are openly looking for a team right now.
You’re going to need things like an office manager, and a range of physical therapists in your chosen niche.
When it comes to hiring, always think about if they suit the team, if they are welcoming and warm, it is important to look at how good they are at what they do – and if they will be able to represent the face of the company.
Marketing
You will need a very well rounded marketing strategy. Most of the time, marketing in this area is a pretty specialist thing, and you’ll need to research marketing for physical therapists like Breakthrough Physical Therapy and hire professional help. You can, however, make strides in the meantime. Make sure that you have printed materials, business cards, and have secured all of you social media tags.
Website
Skip the expense here. You can build a website yourself in under an hour for less than many agencies will charge. Of course, eventually you are going to want to upgrade, but in the short term you need a website that is going to cover the following:
- About – who you are and what you
- Contact – a simple form will work
- Prices – people like to know before they call
- Location – use a plugin to incorporate a map into your site
Eventually, you are going to be looking into SEO strategies to bump you up the Google ranks and a blog to make sure that you are adding content regularly and are appearing in google searches ahead of your competitors.
Space
This is a really exciting thing. You are going to design the space for your clients to relax and recover in. The thing is you can combine psychological aspects with physical ones and choose colors and shapes that boost positivity. A lot of green plants and natural colors are generally a good idea. Green makes people feel closer to nature and ups productivity – both of which are ideal for you.
Just remember that you need functionality over beauty, so don’t blow your budget when you don’t need to.
Equipment
While you might want the top of the range equipment, a lot will come down to your budget. If you can’t afford it right now, then just make a list of the things you will be investing in when you have the funds to do so. In the meantime, create the basics list. You can check out practices that are for sale and pick up some equipment, you can also source the best prices online if you spend some time looking and getting in touch with suppliers.
Office Supplies
You will need to make sure that your office and reception area are fully stocked. Computers and a paper booking system, pens, pencils, envelopes – everything. The office furniture you choose will need to be ergonomic as well because you should really be ensuring your staff won’t ever need the services.
You can’t skimp on your phone and computer system. However, you can pick up the stationery from cheaper sources. A slow computer system can be very embarrassing for the receptionist who is trying to access patient information or make an appointment.
Software
You are going to need to make sure that you have the right software to manage your clients‘ information. You’ll need something that is a highly secure and very organized, due to the data you will be handling. You’ll need to do some research into what will work best for you.
This is a rewarding business choice that will make a difference to you and in the lives of others, and you both deserve to get it right.