Most chiropractors end up starting from scratch because there is no available practice to buy in their area.
Commonly, for the cost of buying a practice, a chiropractor can be do better for less money.
Let’s say a 200 visit a week practice is for sale for $420,000.
In WINNERSEDGE for $200,000 or less we can get the chiropractor to 200 visits a week.
Most practices that people buy need to be remodeled, revamped, and fixed 50 different ways that make it a lot more expensive compared to just building it properly from scratch.
Only if a practice for sale is in a perfect location, is really a good deal, and with a lot of value, would it be considered.
In a post like this it’s impossible to assess the infinite number of possibilities you might come across.
My position is we look at all available practices for sale AND all available spaces for rent. Then we make the mathematically correct and best long-term decision.
I have chiropractors who paid $1 million to buy a very successful practice and we’ve made it work and been able to accelerate and pay the debt down very quickly.
I have seen chiropractor‘s buy practices for $50,000 that were a mess and required a TON of time and energy to fix.
I’m glad I was there in all of these situations to bring success to them.
Success stems from being able to see what the future holds for each and every potential location.
How nice will the neighborhood be in 10 years? Where are the marketing opportunities around the area? Where do you want to live in relation to the practice? You don’t want to live more than 10 or 15 minutes away from your office if you can avoid it.
It’s part of what we call having the successful set up. As successful life is all in the set up.
Where the office is set up in relation to where you live will control much of you life. Almost everything that happens in your life will be work related or home related, so we have to make sure we have work and home correct, and have them close.
I have chiropractors that start with me who are driving 45 minutes to and from work every day.
Over a career, they are literally wasting years of their life by driving. They’re losing the entire productivity of over one month every year because of driving.
The legendary Warren Buffett’s house is literally six minutes from his office. And he’s had the same home and office for over 60 years.
He is the most perfect example of efficiency possibly ever in the United States. He’s had one office the entire time and one home the entire time. This is no accident. He planned this along with thinking through everything else he has done with dollars and time. No wonder he’s worth $100 billion today!
Summary: You buy or start from scratch based on what is available in your area. We can bring smashing success to either option!
