business plan for physical therapy clinic

Physical Therapy Business Plan Template

Written by Dave Lavinsky

Physical Therapy Business Plan

You’ve come to the right place to create your Physical Therapy business plan.

We have helped over 1,000 entrepreneurs and business owners create business plans and many have used them to start or grow their Physical Therapy businesses.

Below is a template to help you create each section of your Physical Therapy business plan.

Executive Summary

Business overview.

Santa Fe Physical Therapy Center is a startup physical therapy company located in Santa Fe, New Mexico. The company is founded by Tyler Hicks, a physical therapist for over twenty years who has extensive experience as both a physical therapist and a business manager during his last years of employment. Tyler has brought a new set of therapy-related solutions to the industry and is starting his own business to fully develop and spread the word of these solutions.

Santa Fe Physical Therapy Center is a comprehensive, one-stop center for everything customers need in physical therapy. Whether related to work, injury rehabilitation, or chronic conditions, Santa Fe Physical Therapy Center will treat the holistic customer rather than a few symptoms of the condition. The motto for the Santa Fe Physical Center is, “When you need rehab, we respond with holistic care.”

Product Offering

The following are the services that Santa Fe Physical Therapy Center will provide:

• Orthopedic rehabilitation
• Sports medicine
• Neurological rehabilitation
• Geriatric rehabilitation
• Pain management
• Whole-body, holistic care throughout all rehabilitation
• Herbal and natural products
• Holistic treatments
• Nutritional supplements to aid healing

Customer Focus

Santa Fe Physical Therapy Center will target all residents within the Santa Fe region. They will target rehabilitative patients. They will also target hospitals and medical clinics. They will target doctors and physical caregivers. They will target individuals looking for holistic body treatments and products.

Management Team

Santa Fe Physical Therapy Center will be owned and operated by Tyler Hicks. He recruited the Naturopathic Doctor from his former place of employment, Bob Carlson, N.D., to join his startup company in the same capacity. He also recruited his former assistant, Sharlene Mason, to take on the role of Administrative Assistant in the new company. The new Senior Physical Therapist will be Trevor Atkin, who has a background of ten years within the physical therapy world and holds a bachelor’s degree in Physical Therapy Sciences.

Tyler Hicks holds a certification in Physical Therapy from the University of New Mexico, and has been a physical therapist for over twenty years. He has extensive experience as both a physical therapist and a business manager during his last years of employment. Tyler has brought a new set of therapy-related solutions to the industry and is starting his own business to fully develop and spread the word of these solutions.

Bob Carlson is a Naturopathic Physician who has worked with Tyler Hicks for several years. He will assume the role of Senior Physician at the startup, where he will encourage customers to consider their rehabilitation and care as that of the “whole body” rather than merely one part.

Sharlene Mason, Tyler’s former assistant, will take on the role of Administrative Assistant in the new company.

Trevor Atkin, has a background of ten years as a physical therapist and will now assume the role of Senior Physical Therapist in the Santa Fe Physical Therapy Center.

Success Factors

Santa Fe Physical Therapy Center will be able to achieve success by offering the following competitive advantages:

• Friendly, knowledgeable, and highly-qualified team of Santa Fe Physical Therapy Center
• Holistic, “whole body” physical therapy solutions
• Naturopathic treatments and ND consultations
• Natural health and healing products and nutritional supplements

Financial Highlights

Santa Fe Physical Therapy Center is seeking $200,000 in debt financing to launch its Santa Fe Physical Therapy Center. The funding will be dedicated toward securing the office space and purchasing office equipment and supplies. Funding will also be dedicated toward three months of overhead costs to include payroll of the staff, rent, and marketing costs for the print ads and marketing costs. The breakout of the funding is below:

• Office space build-out: $20,000
• Office equipment, supplies, and materials: $10,000
• Three months of overhead expenses (payroll, rent, utilities): $150,000
• Marketing costs: $10,000
• Working capital: $10,000

The following graph outlines the financial projections for Santa Fe Physical Therapy Center.

Company Overview

Who is santa fe physical therapy center.

Santa Fe Physical Therapy Center is a newly established, full-service physical therapy company in Santa Fe, New Mexico. Santa Fe Physical Therapy Center will be the most reliable, cost-effective, and effective choice for patients, athletes, and guests in Santa Fe and the surrounding communities. Santa Fe Physical Therapy Center will provide a comprehensive menu of physical therapy services for any customer to utilize. Their full-service approach includes a comprehensive set of physical therapy treatments and naturopathic, whole-body products and supplements.

  Santa Fe Physical Therapy Center will be able to serve and treat a wide variety of physical and health-related needs. The team of professionals are highly qualified and experienced in holistic health and care. Santa Fe Physical Therapy Center removes all headaches and issues of the physical therapy choices for customers and ensures all physical therapy needs are met in addition to holistic body care and well-being.

Santa Fe Physical Therapy Center History

Santa Fe Physical Therapy Center is a startup physical therapy company located in Santa Fe, New Mexico. The company is founded by Tyler Hicks, a physical therapist for over twenty years who has extensive experience as both a physical therapist and a business manager during his last years of employment. Tyler has brought a new set of therapy-related solutions to the industry and is starting his own business to fully develop and spread the word of these solutions. Santa Fe Physical Therapy Center is a comprehensive, one-stop center for everything customers need in physical therapy. Whether related to work, injury rehabilitation, or chronic conditions, Santa Fe Physical Therapy Center will treat the holistic customer rather than a few symptoms of the condition. The motto for the Santa Fe Physical Center is, “When you need rehab, we respond with holistic care.”

Since incorporation, Santa Fe Physical Therapy Center has achieved the following milestones:

• Registered Santa Fe Physical Therapy Center, LLC to transact business in the state of New Mexico.
• Has a contract in place at one for 20,000 square feet of treatment and office space in a midtown building near the Santa Fe General Hospital.
• Reached out to numerous former clients and contacts to include recommendations and referrals.
• Began recruiting a staff of ten physical therapists and six office personnel to work at Santa Fe Physical Therapy Center.

Santa Fe Physical Therapy Center Services

The following will be the services Santa Fe Physical Therapy Center will provide:

Industry Analysis

The physical therapy industry is expected to grow during the next five years to over $71 billion. The growth will be driven by the aging population who will require treatment. The growth will be driven by the increasing awareness of our physical bodies and the care required for them. The growth will be driven by the individuals who seek physical fitness and health-related activities. The growth will be driven by the ongoing pain management for chronic illnesses. Costs will likely be reduced as administrative tasks will be placed primarily into artificial intelligence centers for communication. Costs will likely be reduced as telehealth services increase.

Customer Analysis

Demographic profile of target market.

Santa Fe Physical Therapy Center will target all residents within the Santa Fe, New Mexico region. They will target rehabilitative patients. They will target individuals with chronic pain or illnesses. They will target cognitive-memory patients. They will also target hospitals and medical clinics. They will target doctors and physical caregivers. They will target individuals looking for holistic body treatments and products.

Customer Segmentation

Santa Fe Physical Therapy Center will primarily target the following customer profiles:

• Hospital and medical clinics
• Physicians, naturopathic and osteopathic doctors
• Rehabilitative patients
• Individuals with chronic pain or illnesses
• Individuals with cognitive decline
• Individuals seeking holistic body treatments and products

Competitive Analysis

Direct and indirect competitors.

Santa Fe Physical Therapy Center will face competition from other companies with similar business profiles. A description of each competitor company is below.

Athlete’s Edge Physical Therapy

Athlete’s Edge is a specialized physical therapy company that focuses on providing exceptional care to athletes of all levels. The clinic is located in Santa Fe, New Mexico and was founded by Cameron Taylor to meet the needs of athletes who push their bodies to superior performance. The clinic is designed to help athletes recover from sports-related injuries and prepare them for future performances, all while preventing future injuries. A team of three skilled therapists offer in-clinic treatment or will travel in the mobile van, if the therapy is conducive to such.

Athlete’s Edge Physical Therapy therapists conduct thorough assessments to develop tailored treatment plans for each athlete. They focus on creating physical strength from an injury that will actually improve and enhance future performance.

Seniors In Motion Physical Therapy Clinic

Seniors In Motion (SIM) Physical Therapy Clinic offers care and rehabilitation services tailored specifically to the aging population. The team of skilled physical therapists is passionate about enhancing the quality of life for seniors and helping them maintain their independence and mobility.

SIM Physical Therapy Clinic offers specialized treatments for the unique needs of seniors and has a special “mobility assessment” that is offered to seniors to determine the extent of the need and the ways to meet those needs. The clinic focus is not only the physical aspects, but also the emotional and social well-being of their clients. Their goal is to promote active and healthy aging, enabling individuals to live their lives to the fullest.

Pain Management & Care Clinic

Pain Management & Care Clinic is owned and operated by Charlene Dalton. As a physical therapist for twenty years, she witnessed the difficulty of pain management and now has enlisted the assistance of a pain management physician to join her in starting the Pain Management & Care Clinic. Dr. Anderson Walker is known for his excellent pain management programs that emphasize wellness over pain and the whole body over one part. His prescriptions for pain are always carefully curated and appropriate for the client and act as an assistive part of regaining health, if possible.

Pain management is a difficult issue for most individuals, as it is either not enough or too much. The Pain Management & Care Clinic is focused on therapeutic ways to use physical therapy to resolve pain as much as possible before offering pharmaceutical or other forms of pain management. The company focuses on the whole body instead of merely one part of the body and works toward solutions that fit each client in their needs.

Competitive Advantage

Santa Fe Physical Therapy Center will be able to offer the following advantages over their competition:

Marketing Plan

Brand & value proposition.

Santa Fe Physical Therapy Center will offer the unique value proposition to its clientele:

• Discount packages for families, those in hospice, or those with chronic pain management needs

Promotions Strategy

The promotions strategy for Santa Fe Physical Therapy Center is as follows:

Word of Mouth/Referrals

Santa Fe Physical Therapy Center has built up an extensive list of clients and contacts over the years by providing exceptional service and expertise to their clients. The former associates and contacts will follow them to their new company and help spread the word of Santa Fe Physical Therapy Center.

Professional Associations and Networking

Santa Fe Physical Therapy Center will network throughout the medical community. They will network with professional associations and care-centric groups who focus on specific issues, such as pain management and holistic healing.

Website/SEO Marketing

Santa Fe Physical Therapy Center will fully utilize their website. The website will be well organized, informative, and list all the services that Santa Fe Physical Therapy Center provides. The website will list their contact information and provide an interactive appointment schedule so clients can enter their names and make appointment times that fit their own schedules. The list of services is available for patients who wish to choose what is needed and the holistic care procedures are also listed and open for appointment times. In addition, the natural products and nutritional supplements are available to purchase via the website, all of which adds to the convenience for both the clients, patients and physical therapists.

The website will engage SEO marketing tactics so that anytime someone types in the Google or Bing search engine “physical therapist” or “pain management near me”, Santa Fe Physical Therapy Center will be listed at the top of the search results.

The pricing of Santa Fe Physical Therapy Center will be moderate and on par with competitors so customers feel they receive excellent value when purchasing their services.

Operations Plan

The following will be the operations plan for Santa Fe Physical Therapy Center. Operation Functions:

• Tyler Hicks will be the Owner and President of the company. He will oversee all staff and manage client relations. He has spent the past year recruiting the following staff:
• Bob Carlson will be the Naturopathic Physician, who will manage all holistic health-related care and referrals for clients of the clinic.
• Sharlene Mason will be the Administrative Assistant in the new company, overseeing and assisting staff and guests upon visiting the clinic.
• Trevor Atkin will assume the role of Senior Physical Therapist in the Santa Fe Physical Therapy Center.

Milestones:

Santa Fe Physical Therapy Center will have the following milestones completed in the next six months.

• 5/1/202X – Finalize contract to lease office space
• 5/15/202X – Finalize personnel and staff employment contracts for the Santa Fe Physical Therapy Center
• 6/1/202X – Finalize contracts for Santa Fe Physical Therapy Center clients
• 6/15/202X – Begin networking at industry events
• 6/22/202X – Begin moving into Santa Fe Physical Therapy Center office
• 7/1/202X – Santa Fe Physical Therapy Center opens its office for business

Financial Plan

Key revenue & costs.

The revenue drivers for Santa Fe Physical Therapy Center are the fees they will charge to guests for their services and products.

The cost drivers will be the overhead costs required in order to staff Santa Fe Physical Therapy Center. The expenses will be the payroll cost, rent, utilities, office supplies, and marketing materials.

Funding Requirements and Use of Funds

Santa Fe Physical Therapy Center is seeking $200,000 in debt financing to launch its physical therapy clinic. The funding will be dedicated toward securing the office space and purchasing office equipment and supplies. Funding will also be dedicated toward three months of overhead costs to include payroll of the staff, rent, and marketing costs for the print ads and association memberships. The breakout of the funding is below:

Key Assumptions

The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and in order to pay off the startup business loan.

• Number of Clinic Guests Per Month: 600
• Average Revenue per Month: $68,000
• Office Lease per Year: $100,000

Financial Projections

Income statement, balance sheet, cash flow statement, physical therapy business plan faqs, what is a physical therapy business plan.

A physical therapy business plan is a plan to start and/or grow your physical therapy business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can easily complete your Physical Therapy business plan using our Physical Therapy Business Plan Template here .

What are the Main Types of Physical Therapy Businesses? 

There are a number of different kinds of physical therapy businesses , some examples include: Sports Physical Therapy, Pediatric Physical Therapy, and Geriatric Physical Therapy.

How Do You Get Funding for Your Physical Therapy Business Plan?

Physical Therapy businesses are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.

What are the Steps To Start a Physical Therapy Business?

Starting a physical therapy business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Develop A Physical Therapy Business Plan - The first step in starting a business is to create a detailed physical therapy business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast. 

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your physical therapy business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your physical therapy business is in compliance with local laws.

3. Register Your Physical Therapy Business - Once you have chosen a legal structure, the next step is to register your physical therapy business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws.

4. Identify Financing Options - It’s likely that you’ll need some capital to start your physical therapy business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms.

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations.

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events.

7. Acquire Necessary Physical Therapy Equipment & Supplies - In order to start your physical therapy business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation. 

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your physical therapy business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising.

Physical Therapy Business Plan Template

Written by Dave Lavinsky

Physical Therapy Private Practice Business Plan

Over the past 20+ years, we have helped over 1,000 entrepreneurs and business owners create business plans to start and grow their physical therapy businesses. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through a physical therapy private practice business plan template step-by-step so you can create your plan today.

Download our Ultimate Business Plan Template here >

What is a Physical Therapy Business Plan?

A business plan provides a snapshot of your physical therapy private practice as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans.

Why You Need a Business Plan for a Physical Therapy Practice

If you’re looking to start a physical therapy practice, or grow your existing business, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your physical therapy business in order to improve your chances of success. Your business plan is a living document that should be updated annually as your company grows and changes.

Sources of Funding for Physical Therapy Businesses

With regards to funding, the main sources of funding for a physical therapy business are personal savings, credit cards, bank loans and angel investors. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business. Personal savings and bank loans are the most common funding paths for physical therapy businesses.

Finish Your Business Plan Today!

How to write a business plan for a physical therapy private practice.

If you want to start a physical therapy business or expand your current one, you need a business plan. Below we detail what should be included in each section of your business plan:

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of physical therapy private practice you are operating and the status. For example, are you a startup, do you have a physical therapy business that you would like to grow, or are you operating a chain of physical therapy businesses?

Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the physical therapy industry. Discuss the type of physical therapy business you are operating. Detail your direct competitors. Give an overview of your target customers. Provide a snapshot of your marketing plan. Identify the key members of your team. And offer an overview of your financial plan.  

Company Analysis

In your company analysis, you will detail the type of physical therapy business you are operating.

For example, you might operate one of the following types of physical therapy businesses:

• Sports Physical Therapy : this type of private practice focuses on providing therapy for sports-related injuries and performance issues.
• Pediatric Physical Therapy: this type of practice focuses on physical therapy for children.
• Geriatric Physical Therapy: this type of physical therapy practice focuses on helping elderly people with issues related to aging.

In addition to explaining the type of physical therapy business you will operate, the Company Analysis section of your business plan needs to provide background on the business.

Include answers to question such as:

• When and why did you start the business?
• What milestones have you achieved to date? Milestones could include the number of customers served or number of positive reviews, etc.
• Your legal structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

In your industry analysis, you need to provide an overview of the physical therapy industry.

While this may seem unnecessary, it serves multiple purposes.

First, researching the physical therapy industry educates you. It helps you understand the market in which you are operating.

Secondly, market research can improve your strategy, particularly if your research identifies market trends.

The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section:

• How big is the physical therapy industry (in dollars)?
• Is the market declining or increasing?
• Who are the key competitors in the market?
• Who are the key suppliers in the market?
• What trends are affecting the industry?
• What is the industry’s growth forecast over the next 5 – 10 years?
• What is the relevant market size? That is, how big is the potential market for your physical therapy private practice? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: hospitals and rehabilitation centers, the elderly, parents of young children and athletes.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of physical therapy practice you operate. Clearly, elderly customers would respond to different marketing promotions than athletes, for example.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, include a discussion of the ages, genders, locations and income levels of the customers you seek to serve. Because most physical therapy businesses primarily serve customers living in their same city or town, such demographic information is easy to find on government websites.

Psychographic profiles explain the wants and needs of your target customers. The more you can understand and define these needs, the better you will do in attracting and retaining your customers.

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Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other physical therapy businesses.

Indirect competitors are other options that customers have to purchase from that aren’t direct competitors. This includes hospitals, orthopedic doctors and chiropractors. You need to mention such competition as well.

With regards to direct competition, you want to describe the other physical therapy businesses with which you compete. Most likely, your direct competitors will be practices located very close to your location.

For each such competitor, provide an overview of their businesses and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:

• What types of customers do they serve?
• What types of physical therapy do they specialize in?
• What is their pricing (premium, low, etc.)?
• What are they good at?
• What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

• Will you provide better physical therapy services?
• Will you provide services that your competitors don’t offer?
• Will you provide better customer service?
• Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.  

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a physical therapist, your marketing plan should include the following:

Product : In the product section, you should reiterate the type of physical therapy company that you documented in your Company Analysis. Then, detail the specific products you will be offering. For example, in addition to physical therapy, will you provide personal training or any other services?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your marketing plan, you are presenting the services you offer and their prices.

Place : Place refers to the location of your physical therapy company. Document your location and mention how the location will impact your success. For example, is your physical therapy business located in a busy retail district or shopping plaza, near a large medical center, etc. Discuss how your location might be the ideal location for your customers.

Promotions : The final part of your physical therapy marketing plan is the promotions section. Here you will document how you will drive customers to your location(s). The following are some promotional methods you might consider:

• Advertising in local papers and magazines
• Reaching out to local websites
• Social media marketing
• Local radio advertising

Operations Plan

While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your physical therapy business, including scheduling new patients, treating patients, writing reports and billing.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to schedule your 100th customer, or when you hope to reach $X in revenue. It could also be when you expect to expand your physical therapy business to a new location or city.  

Management Team

To demonstrate your physical therapy business’ ability to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.

Ideally you and/or your team members have direct experience in managing physical therapy businesses. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act like mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in managing physical therapy clinics or successfully running small businesses.  

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet and cash flow statements.

Income Statement : an income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you gain ten new clients per week or per month? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets : Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $50,000 on building out your physical therapy business, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $50,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement : Your cash flow statement will help determine how much money you need to start or grow your business, and make sure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt.

In developing your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a physical therapy business:

• Location build-out including design fees, construction, etc.
• Cost of equipment and supplies
• Payroll or salaries paid to staff
• Business insurance
• Taxes and permits
• Legal expenses

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your office location lease or a schedule of your daily operations.  

Putting together a business plan for your physical therapy business is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will really understand the physical therapy industry, your competition, and your customers. You will have developed a marketing plan and will really understand what it takes to launch and grow a successful physical therapy business.  

Physical Therapy Practice Business Plan FAQs

What is the easiest way to complete my physical therapy business plan.

Growthink's Ultimate Business Plan Template allows you to quickly and easily complete your business plan.

Where Can I Download a Physical Therapy Business Plan PDF?

You can download our physical therapy business plan PDF here. This is a business plan template you can use in PDF format.

What is the Goal of a Business Plan's Executive Summary?

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of physical therapy practice you are operating and the status; for example, are you a startup, do you have a physical therapy practice that you would like to grow, or are you operating a chain of physical therapy private practices?

Don’t you wish there was a faster, easier way to finish your Physical Therapy business plan?

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Other Helpful Business Plan Articles & Templates

Executive Summary of a Physical Therapy Clinic: Template & Example

• January 3, 2024
• Business Plan , Executive Summary

A physical therapy clinic business plan needs a straightforward executive summary . This part of your plan is the first thing investors and partners see, and it should clearly outline what your physical therapy clinic is all about. It’s where you explain what makes your physical therapy clinic different and worth investing in.

We recommend using a two-slide PowerPoint format for this summary. The first slide should cover the basics of your business and the market you’re entering. Here, you detail your physical therapy clinic’s services, location, and what sets you apart. The second slide focuses on your management team and your financial plans, highlighting the people behind the business and how you expect the physical therapy clinic to grow financially.

This simple, two-slide approach ensures that your executive summary is easy to follow and covers all the essential points about your physical therapy clinic business.

Physical Therapy Clinic Business Plan

Fully editable 30+ slides Powerpoint presentation business plan template.

Download an expert-built 30+ slides Powerpoint business plan template

Physical Therapy Executive Summary: Page 1

Business Overview

An effective executive summary begins with a comprehensive business overview that offers a clear and concise introduction to the physical therapy clinic, highlighting its foundational aspects.

This overview sets the stage for showcasing the clinic’s unique attributes, which form the core of its distinctiveness in the healthcare sector. A compelling unique selling proposition (USP) encapsulates what sets the clinic apart from competitors, whether it’s an emphasis on specialized therapies, a focus on cutting-edge technology, or a commitment to personalized patient care.

Example: “RenewalRehab Physical Therapy Clinic,” strategically situated in the heart of [City/Neighborhood], operates within a [X,000] square feet facility. Our clinic prides itself on a multidimensional approach to rehabilitation, offering a diverse range of specialized services tailored to individual needs. Our USP lies in our comprehensive integration of advanced therapeutic methodologies, encompassing a fusion of evidence-based practices, innovative technology, and patient-centric care that redefines the standard of rehabilitation services within our region.”

Market Overview

A comprehensive market overview is crucial for contextualizing the clinic within the larger landscape of the physical therapy industry, encompassing market size , growth trends, and industry dynamics.

This section delves into substantiated data regarding the size and growth trajectory of the US physical therapy clinic industry, backed by credible statistics. Additionally, it identifies the approximate number of clinics nationwide and outlines the competitive environment within the clinic’s targeted radius.

Example: “Within the US, the physical therapy clinic industry boasts a formidable market size of $45.9 billion, displaying consistent growth with a +3.4% CAGR projected from 2023 to 2030. Nationally, approximately 38,000 clinics offer physical therapy services, reflecting the widespread demand for specialized healthcare. Within our local area, we have identified [6] key competitors operating within a [x]-mile radius, contributing to a diverse and dynamic market landscape. Notably, industry trends emphasize a burgeoning demand for tailored treatment plans and the integration of advanced therapeutic technologies, aligning perfectly with our clinic’s progressive approach to patient care.”

Physical Therapy Executive Summary: Page 2

Management Team

Highlighting the expertise and qualifications of the clinic’s management team is integral to building credibility and assuring potential stakeholders of the clinic’s capacity for success.

This section introduces key members of the management team, underscoring their qualifications and experiences that contribute to the clinic’s leadership and innovation. It emphasizes their respective roles and how their expertise aligns with the clinic’s vision, mission, and operational strategies.

Example: “At RenewalRehab, our leadership is steered by individuals with exemplary credentials and rich industry experience. [Name], a seasoned healthcare administrator with a degree in Healthcare Administration, spearheads our operational and strategic endeavors. Supported by a proficient team of licensed physical therapists and dedicated administrative staff, our leadership ensures a seamless patient care experience while pioneering innovative approaches to rehabilitation.”

Financial Plan

The financial plan section succinctly outlines the clinic’s financial objectives and projections, elucidating revenue targets, profit margins, and strategies driving the clinic’s financial trajectory. It highlights the strategic investment areas, such as technology advancements, marketing initiatives , and community engagement, which play pivotal roles in achieving sustainable financial growth and establishing the clinic’s prominence within the industry.

Example: “Our financial roadmap is centered on ambitious yet attainable targets. By 2028, RenewalRehab endeavors to achieve an annual revenue milestone of $1.0 million while maintaining a commendable [30]% profit margin ( EBITDA ). This trajectory aligns with our strategic initiatives, focusing on investing in cutting-edge rehabilitation technology, targeted marketing campaigns, and active community involvement. These endeavors are poised to position our clinic as a leader in providing superior rehabilitation services while ensuring sustained financial success within the industry.”

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Physical Therapists’ Guide to Starting an Outpatient Clinic

If you want to start your own physical therapy clinic, you need a plan to find the offices, providers, and patients you'll need for long-term success.

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Starting an outpatient clinic is a big decision, and not necessarily for everyone. As a startup clinic owner—especially in a single-provider clinic—there’s more risk, stress, and responsibility and less free time than if you simply worked for someone else. You'll have to focus on providing great patient care while working to hone your business skills—something PTs are not always known for excelling at. 

But, as physical therapist and clinic owner Kaci Monroe explains in 7 Lessons Learned from Opening a PT Private Practice , opening a practice doesn’t have to be complicated as long as you’re willing to roll up your sleeves: “Everything’s out there that you can imagine. It’s much easier to start a business nowadays than even 10 years ago. Everything is online. You can get everything that you need to start. You just have to do the work.”

So, do you have what it takes to start a physical therapy clinic? Do you possess enough motivation and internal drive? Are you ready to get your hands dirty? If you’re still serious about starting your own private practice therapy clinic, read on to learn more about deciding on a management strategy, finding the right location, purchasing equipment, selecting software, and choosing a specialty.

What kind of practice do you want? 

Solo leadership or partnership.

One of the first things you should consider when thinking about opening your own practice is whether you plan to run it on your own or with a partner. There are many benefits to bringing in another party. Partners can often provide what you’re missing—whether that be money, experience, relationships, or business acumen. In other words, bringing in a partner may fill a critical gap, and in turn, allow you to achieve even greater success than you could accomplish on your own. Plus, you’ll have someone with whom to share the risk and the reward—because we hear it can be pretty lonely at the top. 

Make your dreams of practice ownership a reality.

Download our step-by-step guide to opening an outpatient private practice.

So, is the old saying that two heads are better than one true? Maybe, maybe not. For example, some of the risks associated with forming a partnership can result in:

• Loss of control;
• Conflicts over differences of opinion; and 
• Dangers of mixing business and pleasure (if you go into business with a friend or family member, that is). 

That’s why entering into a partnership is not something to take lightly—especially considering that getting out of a partnership is always much harder than getting into one. WebPT strongly recommends seeking legal counsel before entering into any business arrangement.

If going solo as a single-provider clinic still feels like the right business decision for your new practice, you’ll be happy to know there are some benefits to go along with your increased risk—like having the freedom to make your own decisions and receiving all the profits. But then again, you also deal with all the debt and all of the administrative burden.

If neither going solo nor partnering up sounds quite right for you, you could always join a group practice and benefit from the experience of other savvy business/therapy professionals. In this case, you won’t have to invest in space or equipment, and you’ll get all the perks of an already established—and hopefully successful—practice.

Looking for some more guidance on how to choose? Ask yourself the following questions (and we suggest being really honest with yourself about your answers):

• Do you prefer working with a team or on your own?
• Do you enjoy having people around to interact with regularly?
• Are your skills well-balanced? In other words, in addition to being an excellent clinician, are you also good at building relationships, communicating clearly and consistently, handling complicated finances, launching successful marketing campaigns, and implementing and maintaining technology? If not, could you hire to fill the gaps?
• Do you focus on the big picture or the day-to-day details? If your answer isn’t “both,” who’s going to focus on the other one?
• Do you know exactly what you want your practice to be like? Will it be difficult for you if things don’t turn out just as you pictured?
• Are you confident enough to launch a startup clinic on your own?

For more information on types of business structures and their benefits, check out this article on  Choosing the Best Legal Structure for Your Practice .

Alternative Business Models

Whatever path you choose to take in starting your own private practice, keep in mind that numerous settings and business models may best suit your personal and business goals. The following list will help you learn more about a growing field of diverse PT-owned business models.

1. Multidisciplinary Care Teams

This model is designed to improve patient experience, increase satisfaction with healthcare services, and reduce the overall cost of care. Here are some added benefits of integrated care teams:

• They create a more well-rounded approach to care;
• They reduce patient healthcare spending;
• They allow for more efficient referral processes; and
• They improve health outcomes through provider collaboration.

2. Subscription-Based or Concierge Services

While many practices offer subscriptions to wellness or gym services, some are taking the subscription model a step further with concierge care . That means these practices provide patients immediate access to all services in exchange for a monthly or annual fee. This model works because it:

• Helps health-focused patients avoid hefty copays and long waits;
• Reduces long-term healthcare spending on preventable illnesses; and
• Creates a steady revenue stream for providers.

The concierge model is also a great option for startups and single-provider clinics because it eliminates the insurance contract negotiation process and provides a steady, predictable revenue stream. It’s also much more cost-effective than the traditional clinic model—especially for mobile concierge practices. After all, opting to forego a brick-and-mortar store will significantly reduce your overhead—and boost your earnings as a result!

3. Gym Partnerships

Rehab therapists can also use their vast understanding of anatomy, physiology, and neurological conditions to serve individuals in a gym setting, helping to connect those individuals who have neuro or mobility issues to gym routines that meet their needs. Do you have a specific niche? This model isn’t exclusive to the traditional gym setting. Many specialty gyms—such as “neuro gyms” and “autism gyms”—benefit from the expertise of a physical therapist. And of course, splitting the rent with a gym is a budget-friendly option.

Legal Considerations

If you decide a gym partnership is the best option for you, there are a few things to consider before you dive in headfirst. Therapists working in gym settings must take extra precautions because, as we mention in Real Talk: The Downside of Providing Wellness Services in Rehab Therapy , “if the therapist’s qualifications include the skills necessary to administer aid in an emergency situation or detect early risk factors for certain health issues, then he or she could be held legally accountable for failing to do so.” That said, non-medical professionals—like massage therapists and personal trainers—do not hold the same liability. So, make sure you’ve covered all of your legal bases before you commit to partnering with a gym.

4. Corporate Office Settings

Many large and forward-thinking companies have their own onsite clinics, which often include physical therapists. Not only does this approach offer a lot of flexibility for providers, but it’s also incredibly convenient for patients. Not only that, but on-site clinics eliminate the need for patients to travel to and from their appointments (thus saving them time), and it typically results in lower-than-average copays (thus saving patients money).

5. Niche Physical Therapy Clinics

When starting afresh in the PT market, it can feel difficult—if not impossible—to stand out among the throng of already-established clinics. Going niche (i.e., providing very specific services for very specific patients) is one way to curate a hyper-loyal subset of patients who will continue to return time and time again. Whether you’re treating a community of Parkinson’s patients or providing primarily hydrotherapy, creating a niche startup—especially as a single provider—is an excellent way to differentiate your services. For help honing in on a niche , scroll down to the below section titled “Which specialty should I choose?”

Compensation: Cash-Based or Insurance-Based

Traditionally, physical therapists—like other healthcare providers— enter into contracts with most major insurance companies to provide services to beneficiaries at a specific, agreed-upon reimbursement rate. In this model, the financial burden for most services falls to the insurer (aside from a nominal co-pay). However, as reimbursement rates decrease and the cost of simply staying in business increases, more and more PT practices are opting to go “ out of network ” and into a cash-based physical therapy practice .

While both these models offer a little more freedom in business practices , it’s not all sunshine and rainbows. In Billing for Cash-Based Physical Therapy Practices , physical therapist and cash-based clinic owner Ann Wendel writes that her documentation and billing practices are not that different from an in-network provider: “The advantage of being cash-based is that I enter into a contract with the patient to provide physical therapy services in a manner that I have determined will help them reach their goals most efficiently. The thorn on the rose is that my documentation and billing practices must ultimately lead to the patient getting reimbursed from their insurance or they won’t be able to continue treatment with me.”

Even with proper documentation and billing practices, you may find that not all patients are willing, able, or—as is the case for Medicare patients — legally allowed to put up the money for physical therapy services. They’d sooner not wait for reimbursement—especially if there’s a provider who accepts their insurance down the road. That’s why we recommend seriously considering whether your services are “sufficient to convince patients to choose to come to your practice despite the out-of-pocket costs” by asking yourself these questions:

• Do your patients trust and value the care you provide?
• Are many of your patient referrals from family, friends, or trusted healthcare providers?
• Do your location, hours of operation, and availability meet your patients’ needs?
• Do you provide a level of clinical expertise and/or service that your patients cannot get elsewhere?

You should also consider your community demographics and how other cash-based businesses and healthcare services—such as massage therapy, chiropractic, acupuncture, and fitness businesses—are performing. This can be a great indicator of your own potential success and can help you identify gaps in services that you can fill. The APTA lists teen sports rehab, chronic disease management, complex orthopedic condition management, hand therapy and splinting, women’s health, and cancer rehabilitation and management are all great options—but those are only a small handful of niche services you could provide. (See "Choosing Your Speciality" below for more on this topic.)

If you’re ready to transition out of network, it’s time to start thinking about setting fees, collecting payment, and discontinuing insurance contracts. If you’re not ready to go all the way out of network, you could consider providing cash-based supplemental services —like medically-oriented gym memberships, pilates or yoga classes, nutritional supplements, or durable exercise supplies —to generate additional income. Think of this as an opportunity to stick your toe in the cash-based services waters.

Insurance Credentialing

If your practice is entirely or partially insurance-based, then you’ll need to be credentialed with payers. Credentialing is the process of becoming accepted into an insurance provider’s preferred network. This process is important because: 

• It helps insurance carriers determine if you’re qualified to serve on their panels, and
• the insurances you’re contracted with will factor into most patients’ decision to come to you for services.

While there are plenty of things to consider when it comes to the credentialing process , these are some essential steps you can take to get the ball rolling:

• Secure your own tax ID number. 
• Get malpractice insurance. 
• Obtain a National Provider Identifier (NPI).
• Have a license to provide services in your state.
• Establish a clinic location.

Learn more about insurance credentialing—and how to navigate potential pitfalls—by downloading our free guide to starting an outpatient practice.  

How do you determine your clinic location?

Sure, that open office space you drive by every evening might be calling your name, but before you go putting down an offer, you better do your homework. After all, your location can make or break your success, so it’s time to start scouting out the community by answering the following questions:

• What direct access services can you legally provide in your state? (Find out in our direct access guide .)
• What are the tax implications and fees for small businesses in your state, city, and county?
• How many people live or work in the community? Realistically, how many of them will seek out your care?
• How many referral providers work in the area? How many of them routinely prescribe physical therapy?
• How many other physical therapy providers are there in the community? Is the area already saturated or can you identify a gap in services that you can fill (e.g., an in-demand niche)?
• Are there any physical therapy practices for sale in the area? 
• Would it be financially feasible to purchase an existing practice rather than launch a startup from scratch??
• How do you become a preferred provider for payers in your area? Will it be difficult?
• What is the typical reimbursement rate for providers in your area? What should you expect to write off as a result of denied reimbursements or failure to collect?
• Is your building easily accessible by foot, car, or public transportation? Will signage be visible from nearby streets?

Not sure where to begin? You can start by reviewing the community demographics in the US census data or on your city’s website.

Once you've conducted your market research and you have a feel for the area, it's time to start browsing real estate, either alone or with the help of a leasing agent. Keep in mind, though, that most commercial real estate brokers work for property owners and represent the owners' interests. If you're looking for someone to advocate for you, try retaining the services of a tenant broker. They—along with a real estate attorney—will help you negotiate your contract so you get what you need in terms of lease length and landlord renovations.

Here are a few other things to consider when looking for the right spot for your practice and defining the terms of your contract:

• If your patient population is mostly baby boomers, consider how accessible the building and restrooms are as well as how far the parking lot is from your office.
• If you’re the first PT moving into your building, ask your landlord if they would include an exclusive use clause in your lease so that no competitors will call your address home.
• If you plan to offer after-hours services—like gym memberships—be sure to tell your landlord exactly what you’re thinking so you can be sure it’s acceptable within the terms of your lease.
• If you’re starting a small, independent, single-provider clinic, try to find a location close to other popular businesses that get a lot of foot traffic. This will help you gain visibility.

One more thing to consider: How much space do you really need? In How To Start An Outpatient Private Practice For Less Than $8,000 , PT and clinic owner Jack Sparacio suggests asking yourself if you really need “the 3,000 square foot office and [to] pay rent for space you are hoping to grow into? Or can you get your practice up and running in the 800 to 1,000 square foot office for one-third the rent?” In his opinion, growing too big for your office space is a much better problem than throwing money away on office space you’re not using. Not quite ready to nail down your own space? Sparacio offers up the following advice: “Subleasing space from other health professionals or health clubs can also be an affordable alternative.“

Which PT specialty is the best one for you?

If you haven’t already considered your new practice’s niche, now’s the time to do so. What services can you provide that will set you apart from your potential competitors? In a whitepaper titled, “ Build Your Practice by Finding Your Physical Therapy Niche ,” Jeff Worrell has a few suggestions for physical therapists looking to identify a specialty—be it sports, pediatric, or post-surgical rehabilitation: “Take some time to jot down your experiences on a piece of paper...be as specific as possible. Look for similarities and highlight the experiences that are similar.” He also recommends that you ask yourself the following questions:

• What type of physical therapy work do you enjoy doing?
• What is the market potential for your specific area of interest?
• What type of patients do you enjoy working with?
• What experience do you have that can help you achieve success in your chosen niche?
• Are there other physical therapists who have built a successful practice in this niche?

For tips on marketing your niche, download this free guide to marketing your outpatient rehab therapy practice.

How can I get financing?

This is probably one of the first questions that comes to mind for anyone planning to start a physical therapy clinic—and it’s often the obstacle that keeps folks from making the leap in the first place. However, with a little proactive effort—and maybe just a tiny bit of luck—you can obtain the funding you need to get your practice-ownership dreams off the ground. Here’s how to make it happen in four steps:

1. Take stock of your expenses.

Determine how much money you’ll need for your venture by looking at your projected monthly expenses. Remember: To increase the viability of a startup venture, you should focus on keeping your expenses low.  Once you have those numbers, you’ll know how big of a loan you need (if necessary). Generally speaking, providers who are launching a new business can allocate their expenses into three categories:

• Fixed costs (e.g., rent, equipment, and software)
• Variable expenses (e.g., utilities, supplies, marketing, and continuing education)
• Labor costs (e.g., employee salaries and benefits)

2. Get the essential documents in order.

Before you head to the bank, make sure you have the following documents in hand (so the review process is as quick and painless as possible): 

• A business plan;
• Financial projections;
• A personal financial statement; and
• Professional references.

3. Pick a lender.

When it comes to picking a funding source, be choosy. We recommend:

• Picking a bank that has experience working with healthcare providers or working with the US Small Business Administration (SBA) ;
• Avoiding the temptation to go with the first offer; and
• Considering a local bank for funding.

4. Make that money talk.

The whole point of a loan is to generate enough revenue to not only pay it back but also make enough of a profit to continue growing your business. (You might consider incorporating cash-based wellness services to boost your revenue cushion .)

For more insight into funding your new practice, download our guide to starting an outpatient practice .

What are the need-to-know details for purchasing equipment?

Once you know who and where you want to treat, it’s time to think about the how. What kind of equipment will you need to provide exceptional care for your patients? Before you become overwhelmed by the mere thought of such a large purchase, consider this advice from PT and clinic owner Jack Sparacio’s post on opening an outpatient private practice for less than $8,000 : “Buying equipment for your office does not need to break the bank. And with the Internet, you can quickly compare prices to save significant amounts of money.” So, before you drop thousands of dollars on expensive equipment—or make any other major purchases for your practice—heed the following advice:

• Shop online. Sites like eBay and Amazon are great places to find deals on new and used equipment. And if you’re a WebPT Member, you have access to the WebPT Marketplace , where you can purchase clinical supplies and equipment at discounted prices.
• Get creative. Some pieces of equipment will always be pricey, but sometimes, you can delay buying that big-ticket item until you have the resources to do so. As PT and clinic owner Jack Sparacio writes , “Why spend $3,500 on a high-end Ultrasound-Electric Stimulation Combo Machine when you can buy separate portable ultrasound and electrical stimulation units for about $100 each?”
• Do more with less. If you’re practical and resourceful, you can find alternative ways to meet your therapy equipment needs. Sparacio explains, “When designing an exercise program for a patient, they are not going to have access to that expensive exercise equipment at home. Giving them exercises in your office utilizing sport cords and resistance bands ensures that those exercises are reproducible and practical in a home environment.” 
• Consider renting. Instead of doubling down on a costly machine, therapy business owners may find that leasing is preferable to buying outright. It gives you the ability to use the latest and greatest machinery while making budget-friendly payments.

What’s the right software for you?

When WebPT first started, an EMR was a huge step forward for the profession. Now, an EMR only scratches the surface of what software can do to help a private practice —and what providers need to run their practice. Clinicians need their EMR to match the demands of modern patient care and to be seamlessly integrated into a slew of other solutions that make up the workflows of a typical clinic. Here are just a few more benefits your new clinic will get with the right EMR:

Compliance Support

Every reporting regulation— MIPS , the 8-minute rule , and the therapy threshold —has its own challenging set of requirements. However, the right EMR will provide the support you need to remain compliant with all of them. Simply follow the built-in prompts and alerts, and you’ll fulfill all requirements for every patient, every time.

Safety and Security

Choose a true web-based (not web-enabled) EMR , and your patient data will be safe and secure—forever. You’ll have all the benefits of the world’s leading data centers—like protection from natural disasters, digital video surveillance, biometric screening, and round-the-clock guards—and none of the cost or responsibility.

Patient and Referral Marketing

Referrals drive a lot of new business for most physical therapists—whether they be from physicians or other patients. With an EMR, you can maximize those referrals by tracking how many you receive and from which sources. It’s a great way to identify those referral sources in your network that need a little more attention. With the right EMR, you can also display your clinic’s logo on all of your digital documents, so every note you send reminds prospective referrers of your clinic. (Free marketing, anyone?)

Plus, if your software touts robust patient relationship management (PRM) features, (e.g. automated email marketing campaigns, patient satisfaction surveys, and online review generation), you’ll have plenty of tools to attract new patients, engage with current patients, and reactivate past ones.

A Paperless Front Office

One of the hallmarks of a solid patient management platform is interoperability—particularly for making your front office a well-oiled machine . From scheduling and registering patients to verifying insurance and conducting follow-ups, each process should work together seamlessly. When they do, it saves time for your front office staff—driving efficiencies throughout the rest of your clinical processes. Plus, a paperless front office also cuts down on the initial startup cost of opening a clinic. And for new clinic owners, any expense saved is money in the bank—which will set you up for greater financial success in the long run.

So, when shopping for software, check to see if they offer these built-in features:

Appointment Scheduling

Scheduling software that automatically links your patient records with your clinic's calendar enables you to review notes with the click of a mouse and send automated appointment reminders via the patient’s preferred method. Scheduling tools can also help you:

• Track missed appointments;
• Book or reschedule appointments easily;
• Manage therapists' schedules;
• View the schedules of your other clinics (if applicable); and
• Color-code patient appointments based on insurance type.

Digital Patient Intake

Digital patient intake solutions enable you to send patients user-friendly intake forms—which they can complete online at their convenience. Most digital patient intake tools can also send automated reminders to patients who haven’t filled out their forms yet as their appointment date gets closer. What this all means is fewer minutes patients are required to spend in your waiting room—culminating in a better experience for them overall. 

Electronic Benefit Verification

Utilizing an electronic benefit verification tool can significantly speed up your insurance eligibility game. Wouldn’t that be a relief? And because these solutions integrate with your EMR, you can say goodbye to the manual process of entering insurance information into a patient’s record—and the transcription errors that can arise from this, too, for that matter.

Outcomes Reporting

In this era of performance-based reimbursement and payment reform, tracking your patients’ functional outcomes is more important than ever. That’s why your software should have robust outcomes tracking capabilities that not only help you stay on top of your patients’ functional progress and clinical results, but also compare them to national averages.

Interoperability

Consolidation is on a lot of practice owners’ minds these days. With larger health systems snapping up the little guys, it can be difficult for startups and single-provider clinics to remain independent while also communicating with other providers seamlessly. Fortunately, if your software can integrate with other software platforms , you can:

• ensure your data transfers smoothly;
• save time by not getting bogged down with multiple platforms; and
• attract referral sources who know your system integrates seamlessly with theirs.

End-to-End Revenue Cycle Management

If you’re still using paper claims, you’re leaving a lot of room for error—not to mention wasting time filling out claim information by hand. But if your EMR has fully-integrated revenue cycle management (RCM), you can rest easy knowing your claims will have fewer errors—and that means you get paid faster. On top of that, be sure your RCM provider’s features include:

• Credit card processing;
• Auto-eligibility verification;
• An integrated clearinghouse; and 
• A patient portal.

Still not sure why you should invest in the right EMR for your outpatient physical therapy clinic? Check out this article .

How do you create a business plan?

Once you’ve got at least a rough idea of how you plan to run your physical therapy practice, it’s time to get business best practices in order and prepare your business plan .

What is a business plan?

A business plan is a formal document that contains every detail about your business—including market assumptions; operations, sales, financing, and hiring plans; and your values and goals. This document will serve as the foundation for your business as well as the driver. It will act as a baseline for monitoring your growth.

Who should write a business plan?

Anyone who plans to run a business should write a business plan, especially if you’re working with other people—investors, partners, or employees. According to this Entrepreneur article, An Introduction to Business Plans , “...anybody beginning or extending a venture that will consume significant resources [money, energy, or time]...and that is expected to return a profit, should take the time to draft some kind of plan.”

Where to start?

Delving a bit deeper, Entrepreneur.com states, “One of the most important reasons to plan your plan is that you may be held accountable for the projections and proposals it contains. [This is] especially true if you use your plan to raise money to finance your company.” Here are some questions to get you started when it comes to thinking about your business goals and objectives:

• How determined am I to see this succeed?
• Am I willing to invest my own money and work long hours for no pay, sacrificing personal time and lifestyle, maybe for years?
• What's going to happen to me if this venture doesn't work out?
• If it does succeed, how many employees will this company eventually have?
• What will be its annual revenue in a year? Five years?
• What will be its market share in that time frame?
• Will it serve a niche market, or will it sell a broad spectrum of goods and services?
• What are my plans for geographic expansion? Local? National? Global?
• Am I going to be a hands-on manager, or will I delegate a large proportion of tasks to others?
• If I delegate, what sorts of tasks will I share? Sales? Technical? Others?
• Is it going to remain independent and privately owned, or will it eventually be acquired or go public?

After you’ve fully answered these questions, you’ll probably have a pretty good idea of the direction you wish to take your clinic. Now it’s time to figure out how you’re going to make your goals a reality. Drum roll, please: it’s time to determine your marketing plan. Whether you’re hoping to find new patients or hire all-star talent , how you present yourself and your practice to the local community—and the physical therapy community as a whole—is quite important. In fact, in Writing a Business Plan? Don't Forget About Marketing Chief Executive Officer of EMSI Public Relations Marsha Friedman strongly recommends that you include a marketing budget—taking into consideration both time and money—in your business plan from the get-go.

Now that you’ve got your plan for the plan complete—you’ve considered your staffing needs, nailed down your financing options, and identified your business goals as well as how you plan to reach them—it’s time to start writing. For more information on how to write a solid business plan, check out this blog post on Strategic Planning 101: The PT's Guide to Building a Better Business

Any more questions?

Almost done! But before you open your doors, there are a few final legal to-dos you need to take care of first:

• Meet with an attorney who is well-versed in private practice law. He or she will help you ensure you have all your legal ducks in a row. 
• Sole Proprietorships
• Partnerships
• Corporations
• Non-profits
• Claim a business name. (Check out this blog post on 16 Creative Physical Therapy Clinic Names for some inspiration.) Don’t forget to consider the online availability for your business’s name!
• Open a business bank account (and keep your books well organized). 
• Lease length,
• Prior building renovations,
• Building accessibility,
• Proximity to competitors, and
• Apply for an Employer Identification Number (EIN).
• Check your state’s website for any additional requirements for starting and operating a business.
• Calendar year: 12 consecutive months from January 1– December 31, or
• Fiscal year: 12 consecutive months ending on the last day of any month other than December.
• Verify employment eligibility.
• Report newly hired and rehired employees to the state.
• Get workers’ comp insurance.
• Display the required posters that explain employee rights and labor laws.
• File your taxes according to federal and local regulations.
• Stay informed and get organized.
• Have a multi-step interview process;
• Ask interviewees experiential questions;
• Hire candidates who share your goals and values; and
• Strive for cognitive diversity among your team.
• Create a marketing strategy to help bring patients into your new practice. 
• Find the right practice management software to help keep things running smoothly. 

Curious about how others got their start in private practice PT? Check out 7 Lessons Learned from Opening a PT Private Practice and How To Start a PT Practice While Keeping a Full-Time Job .

Ready to start a physical therapy clinic?

See how WebPT gets your practice firing on all cylinders, and put all your software and documentation worries in the rearview mirror.

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Disclaimer: Please note that this is general information only and we do not intend for you to use any of it as legal advice or guidance. Nor do we intend for you to use it in lieu of seeking appropriate legal counsel.

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Physical Therapy Clinic

Back to All Business Ideas

How to Start a Physical Therapy Clinic

Written by: Carolyn Young

Carolyn Young is a business writer who focuses on entrepreneurial concepts and the business formation. She has over 25 years of experience in business roles, and has authored several entrepreneurship textbooks.

Edited by: David Lepeska

David has been writing and learning about business, finance and globalization for a quarter-century, starting with a small New York consulting firm in the 1990s.

Published on May 4, 2022 Updated on May 21, 2024

Investment range

$11,950 - $29,800

Revenue potential

$130,000 - $416,000 p.a.

Time to build

3 – 6 months

Profit potential

$65,000 - $83,000 p.a.

Industry trend

As Baby Boomers move into their golden years, the need for physical therapy has spiked, which is why the market has expanded by a third in the last decade. If you’re a physical therapist, you could start your own clinic to boost patients’ quality of life, grab a share of a $40 billion market and make a great living, all while following your passion. 

But they don’t teach many business skills in physical therapy school, so you’ll need to learn how to cut through the red tape and become an entrepreneur. Luckily, this step-by-step guide contains all you need to know to launch and run a successful physical therapy clinic.

Step by Step Business prioritizes real-life experience. Our Entrepreneur Spotlight Series features interviews with business owners, offering direct insights to our readers.

If you’re embarking on starting a physical therapy business, this interview is a must-read for gaining invaluable insights and practical advice.

Looking to register your business? A limited liability company (LLC) is the best legal structure for new businesses because it is fast and simple.

Form your business immediately using ZenBusiness LLC formation service or hire one of the Best LLC Services .

Step 1: Decide if the Business Is Right for You

Pros and cons.

Starting a physical therapy business has pros and cons to consider before deciding if it’s right for you. 

• Improve Lives – Help people lead healthier, fuller lives
• Large Market – Ageing US population means greater demand
• Good Money – Make about $100 per session
• Insurance Hassles – Deal with billing and multiple insurance companies
• Stringent Regulations – Must have education and be licensed by the state

Physical therapy industry trends

Industry size and growth.

• Industry size and past growth – The US physical therapy industry is worth $40.1 billion in 2022 after expanding 33% in the last decade.(( https://www.ibisworld.com/industry-statistics/market-size/physical-therapists-united-states/ )) 
• Growth forecast – The US physical therapy industry is projected to grow 4.7% in 2022.(( https://www.ibisworld.com/industry-statistics/number-of-businesses/physical-therapists-united-states/ )) 
• Number of businesses –  In 2022, 122,254 physical therapy businesses are operating in the US. 
• Number of people employed – In 2022, the US physical therapy industry employs 503,918 people.(( https://www.ibisworld.com/industry-statistics/employment/physical-therapists-united-states/ ))

Trends and challenges

Trends in the physical therapy industry include:

• Telehealth options have made their way into the physical therapy business, with more and more patients seeking virtual physical therapy consultations.
• Alternative treatment options such as holistic physical therapy, which means treating the mind, body, and spirit, are seeing increased demand. This means integrating meditation and yoga into treatment plans, boosting revenue potential. 

Challenges in the physical therapy industry include:

• Advancements in physical therapy techniques and practices make continuing education necessary for physical therapists.
• Regulations in the physical therapy industry, particularly in terms of electronic medical records keeping, are constantly changing, creating the need for physical therapists to keep up in order to stay compliant. 

Demand hotspots

• Most popular states – The most popular states for physical therapists are Washington, Wyoming, and California.(( https://www.zippia.com/physical-therapist-jobs/best-states/ ))
• Least popular states – The least popular states for physical therapists are Florida, Arkansas, and Utah.

What kind of people work in physical therapy?

• Gender – 63.7% of physical therapists are female, while 36.3% are male.(( https://www.zippia.com/physical-therapist-jobs/demographics/ ))
• Average level of education – The average physical therapist has a bachelor’s degree.
• Average age – The average physical therapist in the US is 41.1 years old.

How much does it cost to start a physical therapy clinic?

Startup costs for a physical therapy clinic range from $12,000 to $30,000. The main cost is renting and outfitting the clinic space. If you have more limited financing, you could cut costs by starting out as a mobile and virtual physical therapist, going to your clients and providing therapy online to build a reputation. This would save you $5,000 to $10,000 in startup costs, but you would only be able to take a limited amount of equipment to your patients’ homes.

Either way, you’ll need to obtain malpractice insurance. If you’re not a physical therapist, you can find information on becoming one through the American Physical Therapy Association . 

To practice as a physical therapist in the US, you must earn a doctor of physical therapy degree from a Commission on Accreditation in Physical Therapy Education-accredited physical therapist education program and pass a state licensure exam. Programs typically take three years, and most require a bachelor’s degree. 

You’ll need a handful of items to successfully launch your physical therapy business, including: 

• Treatment tables – wooden plinths
• Treatment tables – adjustable
• Adjustable height exercise steps  
• Step stools
• Therapist stools on wheels 
• Variety of bolsters, wedges, supports
• Mobilization belts and devices
• Various assistive devices
• Taping supplies
• Splinting materials
• Goniometers
• Tape measures
• Grip dynamometer
• Manual muscle testing dynamometer
• Reflex hammer
• Neurological testing instruments
• Blood pressure cuff
• Stethoscope
• Thermometer 
• Video analysis hardware & software
• FCE testing equipment or system

How much can you earn from a physical therapy business?

The average cost of a one-hour physical therapy session is $100. If you start with a small clinic working alone, your profit margin after rent and overhead should be about 50%.

In your first year or two, you might have 25 sessions per week, bringing in $130,000 in annual revenue. This would mean $65,000 in profit, assuming that 50% margin. As your business gains traction, your clinic might provide 80 sessions per week. At this stage, you’d hire staff, including other physical therapists, reducing your profit margin to around 20%. With annual revenue of $416,000, you’d make a healthy profit of nearly $84,000.

What barriers to entry are there?

There are a few barriers to entry for a physical therapy clinic. Your biggest challenges will be:

• Education and licensing
• Standing out into a competitive industry
• Getting credentialed with insurance companies

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Step 2: hone your idea.

Now that you know what’s involved in starting a physical therapy clinic, it’s a good idea to hone your concept in preparation to enter a competitive market. 

Market research will give you the upper hand, even if you’re already positive that you have a perfect product or service. Conducting market research is important, because it can help you understand your customers better, who your competitors are, and your business landscape.

Why? Identify an opportunity

Research physical therapy clinics in your area to examine their services, price points, and customer reviews. You’re looking for a market gap to fill. For instance, maybe the local market is missing a sports medicine clinic, a clinic that also offers athletic training, or a clinic that provides electrical stimulation therapy. 

You might consider targeting a niche market by specializing in a certain aspect of your industry, such as treating shoulder pain or knee pain, or adding yoga and meditation therapy.

This could jumpstart your word-of-mouth marketing and attract clients right away. 

What? Determine your services

Your services will depend on what you decide to specialize in. They might include:

• Physical Therapy
• Manual Therapy and Modalities
• Pre and Post-operative Care
• Sports Rehabilitation
• Injury Screenings
• Dance Medicine Services
• Work Conditioning/Hardening
• Gait Analysis
• Balance Problem Treatments

How much should you charge for physical therapy services?

The average price of a one-hour physical therapy session is $100. After your costs of rent and overhead, you should aim for a profit margin of about 50% when you’re working by yourself. 

Once you know your costs, you can use this Step By Step profit margin calculator to determine your mark-up and final price points. Remember, the prices you use at launch should be subject to change if warranted by the market.

Who? Identify your target market

Your target market will be broad. You should spread out your marketing to include sites like TikTok, Instagram, and Facebook. You should also try to partner with private practice physicians to get referrals. You can connect with them on LinkedIn or find them on Google or Yelp and call them directly. 

Where? Choose your clinic location

Unless you start out working from home, you’ll need to rent out a space for your clinic. Look for a spot in a central and convenient area, such as a medical district or a busy commercial area.

Depending on the type of physical therapy clinic you plan to start, you may also want to consider the proximity to complementary businesses, such as chiropractors or orthopedic clinics.

By strategically choosing the right location, you can establish a profitable and successful physical therapy clinic that provides high-quality healthcare services to patients and stands out from competitors.

You can find commercial space to rent in your area on sites such as Craigslist , Crexi , and Instant Offices .

When choosing a commercial space, you may want to follow these rules of thumb:

• Central location accessible via public transport
• Ventilated and spacious, with good natural light
• Flexible lease that can be extended as your business grows
• Ready-to-use space with no major renovations or repairs needed

Step 3: Brainstorm a Physical Therapy Clinic Name

Here are some ideas for brainstorming your business name:

• Short, unique, and catchy names tend to stand out
• Names that are easy to say and spell tend to do better 
• Name should be relevant to your product or service offerings
• Ask around — family, friends, colleagues, social media — for suggestions
• Including keywords, such as “physical therapy”, boosts SEO
• Name should allow for expansion, for ex: “CoreFit Physical Therapy” over “Pediatric Physical Therapy Center”
• A location-based name can help establish a strong connection with your local community and help with the SEO but might hinder future expansion

Once you’ve got a list of potential names, visit the website of the US Patent and Trademark Office to make sure they are available for registration and check the availability of related domain names using our Domain Name Search tool. Using “.com” or “.org” sharply increases credibility, so it’s best to focus on these. 

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Finally, make your choice among the names that pass this screening and go ahead with domain registration and social media account creation. Your business name is one of the key differentiators that sets your business apart. Once you pick your company name, and start with the branding, it is hard to change the business name. Therefore, it’s important to carefully consider your choice before you start a business entity.

Step 4: Create a Physical Therapy Clinic Business Plan

Here are the key components of a business plan:

• Executive Summary: A brief overview highlighting the main points of the physical therapy clinic business plan, summarizing its key objectives and strategies.
• Business Overview: A concise description of the physical therapy clinic, outlining its mission, vision, and the problem it aims to address in the healthcare industry.
• Product and Services: Clear details about the specific physical therapy services offered, emphasizing the clinic’s unique selling points and any additional wellness services provided.
• Market Analysis: An examination of the target market, including demographics, trends, and potential demand for physical therapy services in the clinic’s geographic area.
• Competitive Analysis: A review of competitors in the local market, analyzing their strengths and weaknesses to position the physical therapy clinic effectively.
• Sales and Marketing: Strategies for attracting and retaining clients, encompassing promotional activities, advertising, and any partnerships to enhance the clinic’s visibility.
• Management Team: Profiles of key individuals leading the physical therapy clinic, emphasizing their qualifications and expertise in healthcare and business management.
• Operations Plan: Detailed information on day-to-day clinic operations, including staff roles, facility requirements, and technological tools employed to optimize efficiency.
• Financial Plan: A comprehensive overview of the clinic’s financial projections, including startup costs, revenue forecasts, and a break-even analysis, demonstrating the business’s financial viability.
• Appendix: Supplementary materials, such as resumes of key team members, additional financial data, and any supporting documents that provide further context for the business plan.

If you’ve never created a business plan, it can be an intimidating task. You might consider hiring a business plan specialist to create a top-notch business plan for you.

Step 5: Register Your Business

Registering your business is an absolutely crucial step — it’s the prerequisite to paying taxes, raising capital, opening a bank account, and other guideposts on the road to getting a business up and running.

Plus, registration is exciting because it makes the entire process official. Once it’s complete, you’ll have your own business! 

Choose where to register your company

Your business location is important because it can affect taxes, legal requirements, and revenue. Most people will register their business in the state where they live, but if you’re planning to expand, you might consider looking elsewhere, as some states could offer real advantages when it comes to physical therapy clinics. 

If you’re willing to move, you could really maximize your business! Keep in mind, it’s relatively easy to transfer your business to another state. 

Choose your business structure

Business entities come in several varieties, each with its pros and cons. The legal structure you choose for your physical therapy clinic will shape your taxes, personal liability, and business registration requirements, so choose wisely. 

Here are the main options:

• Sole Proprietorship – The most common structure for small businesses makes no legal distinction between company and owner. All income goes to the owner, who’s also liable for any debts, losses, or liabilities incurred by the business. The owner pays taxes on business income on his or her personal tax return.
• General Partnership – Similar to a sole proprietorship, but for two or more people. Again, owners keep the profits and are liable for losses. The partners pay taxes on their share of business income on their personal tax returns.
• Limited Liability Company (LLC) – Combines the characteristics of corporations with those of sole proprietorships or partnerships. Again, the owners are not personally liable for debts.
• C Corp – Under this structure, the business is a distinct legal entity and the owner or owners are not personally liable for its debts. Owners take profits through shareholder dividends, rather than directly. The corporation pays taxes, and owners pay taxes on their dividends, which is sometimes referred to as double taxation.
• S Corp – An S-Corporation refers to the tax classification of the business but is not a business entity. An S-Corp can be either a corporation or an LLC , which just need to elect to be an S-Corp for tax status. In an S-Corp, income is passed through directly to shareholders, who pay taxes on their share of business income on their personal tax returns.

We recommend that new business owners choose LLC as it offers liability protection and pass-through taxation while being simpler to form than a corporation. You can form an LLC in as little as five minutes using an online LLC formation service. They will check that your business name is available before filing, submit your articles of organization , and answer any questions you might have. 

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Step 6: Register for Taxes

The final step before you’re able to pay taxes is getting an Employer Identification Number , or EIN. You can file for your EIN online or by mail or fax: visit the IRS website to learn more. Keep in mind, if you’ve chosen to be a sole proprietorship you can simply use your social security number as your EIN. 

Once you have your EIN, you’ll need to choose your tax year. Financially speaking, your business will operate in a calendar year (January–December) or a fiscal year, a 12-month period that can start in any month. This will determine your tax cycle, while your business structure will determine which taxes you’ll pay.

The IRS website also offers a tax-payers checklist , and taxes can be filed online.

It is important to consult an accountant or other professional to help you with your taxes to ensure you’re completing them correctly.

Step 7: Fund your Business

Securing financing is your next step and there are plenty of ways to raise capital:

• Bank loans: This is the most common method but getting approved requires a rock-solid business plan and strong credit history.
• SBA-guaranteed loans: The Small Business Administration can act as guarantor, helping gain that elusive bank approval via an SBA-guaranteed loan .
• Government grants: A handful of financial assistance programs help fund entrepreneurs. Visit Grants.gov to learn which might work for you.
• Friends and Family: Reach out to friends and family to provide a business loan or investment in your concept. It’s a good idea to have legal advice when doing so because SEC regulations apply.
• Crowdfunding: Websites like Kickstarter and Indiegogo offer an increasingly popular low-risk option, in which donors fund your vision. Entrepreneurial crowdfunding sites like Fundable and WeFunder enable multiple investors to fund your business.
• Personal: Self-fund your business via your savings or the sale of property or other assets.

Bank and SBA loans are probably the best option, other than friends and family, for funding a physical therapy business. You might also try crowdfunding if you have an innovative concept. 

Step 8: Apply for Physical Therapy Clinic Business Licenses and Permits

Starting a physical therapy business requires obtaining a number of licenses and permits from local, state, and federal governments.

You will need to be a licensed physical therapist in your state. Check with your state for requirements. To get credentialed by insurance companies you will need:

• Malpractice insurance
• A National Provider Identifier (NPI)

Federal regulations, licenses, and permits associated with starting your business include doing business as (DBA), health licenses and permits from the Occupational Safety and Health Administration ( OSHA ), trademarks, copyrights, patents, and other intellectual properties, as well as industry-specific licenses and permits. 

You may also need state-level and local county or city-based licenses and permits. The license requirements and how to obtain them vary, so check the websites of your state, city, and county governments or contact the appropriate person to learn more. 

You could also check this SBA guide for your state’s requirements, but we recommend using MyCorporation’s Business License Compliance Package . They will research the exact forms you need for your business and state and provide them to ensure you’re fully compliant.

This is not a step to be taken lightly, as failing to comply with legal requirements can result in hefty penalties.

If you feel overwhelmed by this step or don’t know how to begin, it might be a good idea to hire a professional to help you check all the legal boxes.

Step 9: Open a Business Bank Account

Before you start making money, you’ll need a place to keep it, and that requires opening a bank account .

Keeping your business finances separate from your personal account makes it easy to file taxes and track your company’s income, so it’s worth doing even if you’re running your physical therapy business as a sole proprietorship. Opening a business bank account is quite simple, and similar to opening a personal one. Most major banks offer accounts tailored for businesses — just inquire at your preferred bank to learn about their rates and features.

Banks vary in terms of offerings, so it’s a good idea to examine your options and select the best plan for you. Once you choose your bank, bring in your EIN (or Social Security Number if you decide on a sole proprietorship), articles of incorporation, and other legal documents and open your new account. 

Step 10: Get Business Insurance

Business insurance is an area that often gets overlooked yet it can be vital to your success as an entrepreneur. Insurance protects you from unexpected events that can have a devastating impact on your business.

Here are some types of insurance to consider:

• General liability: The most comprehensive type of insurance, acting as a catch-all for many business elements that require coverage. If you get just one kind of insurance, this is it. It even protects against bodily injury and property damage.
• Business Property: Provides coverage for your equipment and supplies.
• Equipment Breakdown Insurance: Covers the cost of replacing or repairing equipment that has broken due to mechanical issues.
• Worker’s compensation: Provides compensation to employees injured on the job.
• Property: Covers your physical space, whether it is a cart, storefront, or office.
• Commercial auto: Protection for your company-owned vehicle.
• Professional liability: Protects against claims from a client who says they suffered a loss due to an error or omission in your work.
• Business owner’s policy (BOP): This is an insurance plan that acts as an all-in-one insurance policy, a combination of the above insurance types.

For a physical therapy business, you’ll also need to obtain malpractice insurance. 

Step 11: Prepare to Launch

As opening day nears, prepare for launch by reviewing and improving some key elements of your business. 

Essential software and tools

Being an entrepreneur often means wearing many hats, from marketing to sales to accounting, which can be overwhelming. Fortunately, many websites and digital tools are available to help simplify many business tasks. 

You may want to use industry-specific software, such as Kareo , WebPT , or MWTherapy , to manage your scheduling, record keeping, billing, and payments. 

• Popular web-based accounting programs for smaller businesses include Quickbooks , Freshbooks , and Xero . 
• If you’re unfamiliar with basic accounting, you may want to hire a professional, especially as you begin. The consequences for filing incorrect tax documents can be harsh, so accuracy is crucial. 

Develop your website

Website development is crucial because your site is your online presence and needs to convince prospective clients of your expertise and professionalism.

You can create your own website using services like WordPress, Wix, or Squarespace . This route is very affordable, but figuring out how to build a website can be time-consuming. If you lack tech-savvy, you can hire a web designer or developer to create a custom website for your business.

They are unlikely to find your website, however, unless you follow Search Engine Optimization ( SEO ) practices. These are steps that help pages rank higher in the results of top search engines like Google. 

Here are some powerful marketing strategies for your future business:

• Community Partnerships: Forge partnerships with local gyms, sports clubs, and wellness centers to offer exclusive discounts or collaborative events, creating a win-win situation for both parties and expanding your reach.
• Educational Workshops: Host free workshops on common health issues, injury prevention, and rehabilitation techniques in collaboration with local community centers or businesses to position your clinic as an authoritative and trusted source.
• Referral Programs: Implement a referral program that rewards existing clients, physicians, and other healthcare professionals for referring new patients to your clinic, fostering a network of advocates for your services.
• Testimonials and Case Studies: Highlight success stories and positive outcomes through testimonials and case studies, showcasing real experiences to build credibility and instill confidence in potential clients.
• Social Media Engagement: Leverage social media platforms to share educational content, success stories, and behind-the-scenes glimpses, engaging with your audience and creating a personable online presence.
• Local Event Sponsorship: Sponsor local events, sports teams, or health-related gatherings to increase brand visibility, demonstrating your commitment to community well-being.
• Loyalty Programs: Implement loyalty programs that offer discounts or additional services for returning clients, encouraging repeat business and fostering long-term relationships.
• Online Reviews Management: Encourage satisfied clients to leave positive reviews on popular review sites, actively manage your online reputation, and respond promptly to both positive and negative feedback.
• Targeted Direct Mail Campaigns: Send targeted direct mail campaigns to local neighborhoods, emphasizing the benefits of physical therapy and offering exclusive promotions to drive new client acquisition.
• Corporate Wellness Programs: Reach out to local businesses to offer on-site wellness programs, including ergonomic assessments and injury prevention workshops, fostering employee well-being and generating business leads.

Focus on USPs

Unique selling propositions, or USPs, are the characteristics of a product or service that set it apart from the competition. Customers today are inundated with buying options, so you’ll have a real advantage if they are able to quickly grasp how your physical therapy clinic meets their needs or wishes. It’s wise to do all you can to ensure your USPs stand out on your website and in your marketing and promotional materials, stimulating buyer desire. 

Global pizza chain Domino’s is renowned for its USP: “Hot pizza in 30 minutes or less, guaranteed.” Signature USPs for your physical therapy business could be: 

• Smart sports therapy to get you back in the game
• Our holistic therapy heals mind, body, and soul 
• Soothe your pain with advanced physical therapy techniques

You may not like to network or use personal connections for business gain. But your personal and professional networks likely offer considerable untapped business potential. Maybe that Facebook friend you met in college is now running a physical therapy business, or a LinkedIn contact of yours is connected to dozens of potential clients. Maybe your cousin or neighbor has been working in physical therapy for years and can offer invaluable insight and industry connections. 

The possibilities are endless, so it’s a good idea to review your personal and professional networks and reach out to those with possible links to or interest in physical therapy. You’ll probably generate new customers or find companies with which you could establish a partnership. 

Step 12: Build Your Team

If you’re starting out small from a home office, you may not need any employees. But as your business grows, you will likely need workers to fill various roles. Potential positions for a physical therapy business include:

• Receptionist – patient check-ins, book appointments, customer service
• Physical Therapists – provide physical therapy services
• General Manager – staff management, accounting
• Marketing Lead – SEO strategies, social media

At some point, you may need to hire all of these positions or simply a few, depending on the size and needs of your business. You might also hire multiple workers for a single role or a single worker for multiple roles, again depending on need. 

Free-of-charge methods to recruit employees include posting ads on popular platforms such as LinkedIn, Facebook, or Jobs.com. You might also consider a premium recruitment option, such as advertising on Indeed , Glassdoor , or ZipRecruiter . Further, if you have the resources, you could consider hiring a recruitment agency to help you find talent. 

Step 13: Run a Physical Therapy Clinic – Start Making Money!

Physical therapy is experiencing strong growth as the population ages, which means this is a great opportunity to help people every day and make a good living at the same time. If you have yet to complete your physical therapy education, doing so will be well worth your time and money, as it will enable you to follow your passion and provide an invaluable service. 

You’ve gained the required business knowledge, now it’s time to get your successful physical therapy clinic up and running!

• Physical Therapy Business FAQs

Yes, a physical therapy business can be profitable, but more importantly, it can be very rewarding. You’ll be helping people live better lives with less pain. But it’s crucial to provide quality service and treatment.

You can find information on becoming one through the American Physical Therapy Association . To practice as a physical therapist in the U.S., you must earn a doctor of physical therapy degree from an accredited program and pass a licensing exam. Programs typically take three years, and most require a bachelor’s degree.

Collaborate with local healthcare professionals and community organizations to build referrals. Offer educational content and resources on your website to establish credibility and attract patients seeking information.

Physical therapists tend to earn higher salaries in settings such as outpatient clinics, hospitals, and skilled nursing facilities. Geographic location can also influence earning potential, with areas that have a higher cost of living often offering higher salaries. 

To differentiate your physical therapy clinic from competitors, emphasize unique aspects such as specialized treatment techniques, cutting-edge technology, or niche services. Focus on exceptional patient care, personalized treatment plans, and a warm and welcoming clinic environment.

Common types of physical therapy treatments include manual therapy, therapeutic exercises, balance and gait training, electrical stimulation, ultrasound, heat and cold therapy, and patient education on injury prevention and self-care techniques. 

nice explaination very helpfull for me thankuuu

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• Decide if the Business Is Right for You
• Hone Your Idea
• Brainstorm a Physical Therapy Clinic Name
• Create a Physical Therapy Clinic Business Plan
• Register Your Business
• Register for Taxes
• Fund your Business
• Apply for Physical Therapy Clinic Business Licenses and Permits
• Open a Business Bank Account
• Get Business Insurance
• Prepare to Launch
• Build Your Team
• Run a Physical Therapy Clinic - Start Making Money!

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• Sample Business Plans
• Medical & Health Care

Physical Therapy Business Plan

Starting a physical therapy clinic is one of the most rewarding and profitable business ventures for any professional physiotherapist.

However, being an excellent physiotherapist isn’t enough to start a physical therapy clinic. You need to understand business dynamics, hone your business skills, and create a business plan.

A business plan is not just about raising funding; it also provides a framework for your daily operations and keeps you on the right track.

Need help writing a business plan for your physical therapy business? You’re at the right place. Our physical therapy business plan template will help you get started.

Free Business Plan Template

Download our free business plan template now and pave the way to success. Let’s turn your vision into an actionable strategy!

• Fill in the blanks – Outline
• Financial Tables

How to Write a Physical Therapy Business Plan?

Writing a physical therapy business plan is a crucial step toward the success of your business. Here are the key steps to consider when writing a business plan:

1. Executive Summary

An executive summary is the first section planned to offer an overview of the entire business plan. However, it is written after the entire business plan is ready and summarizes each section of your plan.

Here are a few key components to include in your executive summary:

Introduce your business:

• This section may include the name of your physical therapy business, its location, when it was founded, the type of physical therapy business (E.g., outpatient rehabilitation center, pediatric physical therapy, geriatric physical therapy.), etc.

Market opportunity:

Product & services:.

• For example, a geriatric physical therapist treats elderly patients to help them improve mobility and prevent falls.

Marketing & sales strategies:

Financial highlights:, call to action:.

Ensure your executive summary is clear, concise, easy to understand, and jargon-free.

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2. Business Overview

The business overview section of your business plan offers detailed information about your company. The details you add will depend on how important they are to your business. Yet, business name, location, business history, and future goals are some of the foundational elements you must consider adding to this section:

Business description:

• Industrial physical therapy
• Integrative physical therapy
• Geriatric physical therapy
• Pediatric physical therapy
• Sports physical therapy
• Describe the legal structure of your physical therapy clinic, whether it is a sole proprietorship, LLC, partnership, or others.
• Explain where your business is located and why you selected the place.

Mission statement:

Business history:.

• Additionally, If you have received any awards or recognition for excellent work, describe them.

Future goal:

This section should provide a thorough understanding of your business, its history, and its future plans. Keep this section engaging, precise, and to the point.

3. Market Analysis

The market analysis section of your business plan should offer a thorough understanding of the industry with the target market, competitors, and growth opportunities. You should include the following components in this section.

Target market:

• For instance, a geriatric physical therapy clinic may target elderly patients 65 years and above suffering from mobility and joint pain.

Market size and growth potential:

Competitive analysis:, market trends:.

• For instance, remote monitoring systems are in trend nowadays.

Regulatory environment:

Here are a few tips for writing the market analysis section of your physical therapy clinic business plan:

• Conduct market research, industry reports, and surveys to gather data.
• Provide specific and detailed information whenever possible.
• Illustrate your points with charts and graphs.
• Write your business plan keeping your target audience in mind.

4. Products And Services

The product and services section should describe the specific services and products offered to patients. To write this section should include the following:

Mention your services:

Mention the physical therapy services your business will offer. This list may include services like,

• Exercise therapy
• Sports injury management
• Rehabilitation and recovery services
• Education and counseling
• Providing assistive devices (E.g., crutches, wheelchairs, etc.)

Describe each service:

• For example, if you’re describing the process of sports injury management, it may include injury assessment, diagnosis, treatment, rehabilitation, and returning to the sport.

Service packages:

Insurance & payment options:.

• In addition to these payment options, describe if your clinic offers any regular patient discounts or membership plans.

Additional services:

In short, this section of your physical therapy plan must be informative, precise, and client-focused. By providing a clear and compelling description of your offerings, you can help potential investors and readers understand the value of your business.

5. Sales And Marketing Strategies

Writing the sales and marketing strategies section means a list of strategies you will use to attract and retain your clients. Here are some key elements to include in your sales & marketing plan:

Unique selling proposition (USP):

• For example, state-of-art equipment, specialized services, and convenient clinic location could be some of the great USPs for a physical therapy clinic.

Pricing strategy:

Marketing strategies:, sales strategies:, patient retention:.

Overall, this section of your physiotherapist clinic business plan should focus on patient acquisition and retention.

Have a specific, realistic, and data-driven approach while planning sales and marketing strategies for your physical therapy business, and be prepared to adapt or make strategic changes in your strategies based on feedback and results.

6. Operations Plan

The operations plan section of your business plan should outline the processes and procedures involved in your business operations, such as staffing requirements and operational processes. Here are a few components to add to your operations plan:

Staffing & training:

Operational process:, equipment & machinery:.

• In addition, provide details on the sourcing and maintenance of these instruments and equipment. Explain how these technologies benefit your patients and help you stand out as a physical therapy service provider.

Adding these components to your operations plan will help you lay out your business operations, which will eventually help you manage your business effectively.

7. Management Team

The management team section provides an overview of your physical therapy business’s management team. This section should provide a detailed description of each manager’s experience and qualifications, as well as their responsibilities and roles.

Founder/CEO:

Key managers:.

• It should include key executives, physical therapists, and other department managers (e.g., office managers) involved in the business operations, including their education, professional background, and any relevant experience in the industry.

Organizational structure:

Compensation plan:, advisors/consultants:.

• So, if you have any advisors or consultants, include them with their names and brief information consisting of roles and years of experience.

This section should describe the key personnel for your physical therapy services, highlighting how you have the perfect team to succeed.

8. Financial Plan

Your financial plan section should provide a summary of your business’s financial projections for the first few years. Here are some key elements to include in your financial plan:

Profit & loss statement:

Cash flow statement:, balance sheet:, break-even point:.

• This exercise will help you understand how much revenue you need to generate to sustain or be profitable.

Financing needs:

Be realistic with your financial projections, and make sure you offer relevant information and evidence to support your estimates.

9. Appendix

The appendix section of your plan should include any additional information supporting your business plan’s main content, such as market research, legal documentation, financial statements, and other relevant information.

• Add a table of contents for the appendix section to help readers easily find specific information or sections.
• In addition to your financial statements, provide additional financial documents like tax returns, a list of assets within the business, credit history, and more. These statements must be the latest and offer financial projections for at least the first three or five years of business operations.\
• Provide data derived from market research, including stats about the physical therapy industry, user demographics, and industry trends.
• Include any legal documents such as permits, licenses, and contracts.
• Include any additional documentation related to your business plan, such as product brochures, marketing materials, operational procedures, etc.

Use clear headings and labels for each section of the appendix so that readers can easily find the necessary information.

Remember, the appendix section of your physical or sports therapy business plan should only include relevant and important information supporting your plan’s main content.

The Quickest Way to turn a Business Idea into a Business Plan

Fill-in-the-blanks and automatic financials make it easy.

This sample physical therapy business plan will provide an idea for writing a successful physical therapy plan, including all the essential components of your business.

After this, if you still need clarification about writing an investment-ready business plan to impress your audience, download our physical therapy business plan pdf .

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Frequently asked questions, why do you need a physical therapy business plan.

A business plan is an essential tool for anyone looking to start or run a successful physical therapy business. It helps to get clarity in your business, secures funding, and identifies potential challenges while starting and growing your business.

Overall, a well-written plan can help you make informed decisions, which can contribute to the long-term success of your physical therapy clinic.

How to get funding for your physical therapy business?

There are several ways to get funding for your physical therapy business, but self-funding is one of the most efficient and speedy funding options. Other options for funding are:

Small Business Administration (SBA) loan

Crowdfunding, angel investors.

Apart from all these options, there are small business grants available, check for the same in your location and you can apply for it.

Where to find business plan writers for your physical therapy business?

There are many business plan writers available, but no one knows your business and ideas better than you, so we recommend you write your physical therapy business plan and outline your vision as you have in your mind.

What is the easiest way to write your physical therapy business plan?

A lot of research is necessary for writing a business plan, but you can write your plan most efficiently with the help of any physical therapy business plan example and edit it as per your need. You can also quickly finish your plan in just a few hours or less with the help of our business plan software.

About the Author

Upmetrics Team

Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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The 9 Essentials For A Cash-Based Physical Therapy Business Plan

As a lot of cash-based physical therapists go through the Mentorship Program … they see their clinics grow… And so, something I always get asked is…

‘How do I create the perfect business plan?’

In this article, I’ll lay out the advice I give them…

Keep reading to find out just how simple it can be to create the perfect business plan.

What Is A Physical Therapy Business Plan?

Running your own physical therapy private practice isn’t easy… But your business plan should make it a lot easier.

Your business plan is your map to success…. It is an executive summary of what you’re going to do and how you’re going to do it.

If you’re in cash-based physical therapy and don’t have the luxury of insurance contracts to fall back on it’s going to be the key to growing your clinic and attracting patients.

Why Do I Need A Business Plan For A Cash-Based Physical Therapy Clinic?

You wouldn’t have a patient sign up for ten sessions without giving them a treatment plan ? So why would you run your physical therapy clinic without a business plan?

Just like your treatment plan is a roadmap to a pain-free life… your business plan is a roadmap to a successful clinic…

It will outline the steps you need to take to get where you want to be…

But you shouldn’t be fooled into thinking a business plan is just for start ups…

No matter where you are in your career… whether you’re already running a physical therapy practice or you’re just beginning, the perfect business plan will help take your private practice to the top.

The Critical Components To Include In Your Physical Therapy Business Plan

1) do your research….

Before you sit down to write your business plan… Do your research.

It is important to know your target market, clients, and competition inside out…

What is the state of the market? How do you fit in?

Speak to friends, patients, people in the community , and other practices.

Taking these steps will make sure you have the information you need to start writing.

2) Mission Statement

Your mission statement is a picture of your end goal… but you should also make this act as an executive summary.

Yes… set out your goals… but try to spell out exactly how you’re going to achieve those goals…

How will you get your practice to the top? This should be an overview but also is an opportunity to go into the finer details.

For example…

What is the vision? Describe your goals. What are you offering? Use this section to lay out how you fit into the wider market.

If you’re looking for funding or to bring investors on board, this information should be your elevator pitch….

If you can show them in detail just how great your physical therapy business will be then it will set you apart from others.

Tip – If you’re finding this hard look at some case studies. Case studies of your competitors or physical therapists you admire will help you visualise the future.

3) Practice Description

This section is the ideal place to get you and your story across. Even if you aren’t presenting this to people it can cement your vision in your mind…

What do you need? Well, start with…

Your business name. How does your practice look now and how will it look? What are you providing and how is it different from other practices? What problems do you solve for potential patients?

4) Marketing Strategy

A marketing strategy or marketing plan is essential…

If you’re like me, you didn’t spend years at university studying for a marketing degree…

But this shouldn’t be hard… you’re selling your business to new clients.

Here are a few basic questions to ask yourself… They will help you discover how you can market your business…

Why you? Why not your competition? Do you have a niche? What is your unique selling point? Know your referral sources.

Tip – If you’re struggling with this… make a detailed list of why you and your therapy practice are the best choice for a potential patient. How can you help them in a way that no one else can?

5) Finances

This should be an executive summary of all financial parts of your business…

It goes without saying that this area of your business plan is incredibly important…

It will give you clarity on your financing… but also allows you to share that information with others…

Baby boomers will remember how easy it used to be to get investors on board… Not anymore… You need a watertight financial section to secure funding…

For a small business approaching lenders, this section could make or break their decision on whether they take the steps to help your clinic grow.

Here’s what you’ll need to cover…

Expenses – Everything from purchasing equipment to wages and site rental should be covered here. Forecast – This will be an estimate of your future financial outcomes monthly and annually. Include pricing information. Cash Flow – Explain how much money is coming in and out of your clinic. Funding – How are you financing the project? Are there investors? If you’re approaching lenders then you need to have a strong business and financial plan. Projection – Gather all of the information above and project your profits and losses. Factor in investor reimbursement rate.

Tip – Statistics are your friend here. Take the current numbers from your practice and use statistics to make effective estimations.

6) Management And Operations

You have to decide how your physical therapy practice will run.

Remember you’re in the rehabilitation market, most practice owners forget that. You offer rehab solutions to get people fit and healthy… How will this work on a day-to-day basis?

Systems you will put in place to make everything happen. Who is doing what in your clinic? Will you hire a physical therapist, massage therapists, or a PT to help? If you are, what credentialing process will you use to hire?

Go into real detail here… Even to the point of, will you have your own custom email address?

The more you plan the fewer surprises there will be.

This section can get overwhelming… But don’t panic… There is help out there…

7) Use Small Business Administration Help

There are plenty of obstacles when running your own physical therapy practice…

One big hurdle I see people fall at is administration.

Your business grows and your clinic is busy… But not everyone has the luxury of an office manager…

Whether it’s answering an email or getting patients in the diary, there are plenty of systems for any start up or small business to use…

For example, Asana can help you with productivity and team management.

Don’t be afraid to use the technology available.

8) Use Your Plan

It may sound stupid… and I’m going to state the obvious but… use your business plan .

There is no use spending time writing an excellent business plan for it to sit in a draw and collect dust.

It will be a positive addition to the way your therapy clinic works.

The information in the plan will be your map to success, so use it…

Memorise it… Base your daily routine around it… And consult it to make sure you’re hitting targets…

It can become an issue in physical therapy practices when someone doesn’t understand their role… Make sure your employees and partners know your business plan…

If they know their goals and roles then you can create an effective working environment and a real community.

9) Update Your Plan

Running a business is fluid but your objectives should be concrete…

Stick to your objectives but as your practice grows, update your plan to fit…

Things will come up… so tweaking your plan along the way is worth your time and effort.

Final Thoughts

Whether you’re a start up or one of the bigger physical therapy practices, writing your business plan can get overwhelming…

Spending hours at the computer away from your clinic and your patients will get old… You’re in the rehab market, right? You should be treating patients? Well just remember…

Your business plan is a tool to get you where you want to be…

Once you have mastered your business plan, you can go on to master your private practice…

Here Is My Own Physical therapy Business Plan Strategy…

If you’re looking for help on creating your own physical therapy practice business plan…

Download mine below and start writing.

If you want more help turning your practice into the Go-To clinic , click the button below, and we will give you the exact plan we use to build a profitable and sustainable clinic.

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Download a Free ‘ebook’ copy of the 8-Step ‘World Cup’ Treatment Plan that helped my private patients achieve full recovery and made me a ‘go-to’ physio for complex cases…

About The Author

Dave o'sullivan.

Dave O’Sullivan, Chartered Physiotherapist with a master’s in Strength and Conditioning, worked as a sports physio for the Wallabies Rugby Union team (2023 World Cup), England Rugby Union (2019 World Cup) and England Rugby League (2017 World Cup). He built a leading clinic in Huddersfield, UK, and developed a unique step-by-step approach with his own sporting and non sporting patients.

Dave now teaches his methods globally and has helped over 1,000 physiotherapists and other health professionals, giving them confidence and clarity to help patients who have failed traditional approaches.

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How to Create a Business Plan For Your Physical Therapy Private Practice

Whether you're starting up a brand new practice or are an established practice looking to plan for the future, a business plan is key.

You Can't Get Where You're Going Without a Plan

A business plan is an essential formal document and should outline every aspect of an existing or new physical therapy private practice. And while it contains vital information about your finances, management, market, and funding requests—it doesn’t have to be complicated. Excellent business plans provide structure for an organization for the first five years of operation. They’re also a fantastic device for goal-setting in all major areas, including sales, expenses, hiring, and financing.So what’s included in a business plan? And how can you write one for your physical therapy private practice? In this article, we’ll break down each section of the business plan and give you the tools you’ll need to write your very own.

Business Plans Are Not Just for Start-Ups

While business plans are most associated with new practices looking to get open, the reality is that having a business plan can serve all practices. Start-ups absolutely need a business plan to guide and aid them in getting loans or additional funding. Even if you're not planning to seek external funding, having a business plan is crucial to success; the plan will act as a roadmap and as a roadmap. For established practices, the exercise of writing a business plan or updating an existing plan can help provide an opportunity to think about what's working and what's not and to then plot a way forward. This could include new markets, new referral sources, new markets or just fine-tuning existing strategies.

Executive Summary

Writing the executive summary is perhaps the most integral part of creating a business plan for your private physical therapy practice. Not only does it provide a clear and concise overview for readers, but it promotes other benefits such as attracting potential investors and determining if your practice will be profitable in the long-run. Writing the executive summary for private practices requires market research. You should begin with the essentials:

• Description of your practice
• Services your PTs will provide
• Mission statement and overlying purpose for creating the clinic
• Opportunity statement to investors or lenders explaining the marketplace for physical therapy and how your clinic will contribute
• Detailed analysis of the rehabilitation marketplace pinpointing your clientele, marketplace growth, and competitor data.

Furthermore, you’ll write a summary of your management expertise and projected financials to hook your audience.

Practice Description

A practice description should tell the reader everything they need to know about who you are, where you’re at, and what you do. People want to get a good sense of who they’re conducting business with. Great practice descriptions include information about why you’re getting into business, what therapy your practice excels at providing, and why your clinic is equipped to provide those services. People want solutions—what shortcomings is the business solving right out of the gate in your respective market? How is your business leveraging the chosen location to secure clientele? Answer these questions, and do the research required to build your business plan on a solid foundation.

Market Analysis

After showcasing your expertise, providing solutions to problems, and building a buzz around the qualified individuals who are running the practice—what does the market look like?Market analysis needs to dive deep and provide answers for any form of skepticism. Every private practice has a different clientele, competition, and operational challenges to combat, but there are some universal questions business owners should ask themselves while writing a market analysis:

• Who are our successful competitors?
• What are they doing correctly to make them successful?
• How can our private practice do it better?
• What would I want as a patient receiving therapy at our clinic?
• What does the past, present, and future look like in our target market?

There are thousands of questions you can ask yourself, but getting a good grip on the competition, landscape, and projected need for the physical therapy you provide is essential.

Organization and Management

Simply put, this is the hierarchy of your practice and will explain how tasks are completed. Each position is plotted on an organizational chart detailing who’s responsible for what. This section of a business plan provides an excellent opportunity to highlight exceptional skills, talents, and achievements. It can also be used to show how you can delegate tasks and reduce costs by implementing physical therapy software . The organization and management section is also used to discuss the legal structure of your practice. While most private practices are sole proprietorships, it’s important to disclose any legal agreements.

Marketing Strategy

Now the fun part, selling your business to the public and other clinics. Building a powerful marketing strategy instills brand confidence , which generates more patients. You should explore how to write a compelling ad for your physical therapy practice and cater advertisements to selected marketing platforms. Use the market analysis and competitor research you’ve compiled to make strategic decisions. Remember, there’s no one way to approach a marketing campaign. The best policy is to do your research, take a shot, analyze the campaign data, and adjust future campaigns for enhanced results.

Funding Request

Not all business plans will require a funding request, but for those that do, you’ll want to outline the request in detail. Funding requests should begin with a summary of how much funding you’ll need for the first five years of operation. It will be a step-by-step analysis covering any required start-up and future expenses including everything from rent to individual PT salaries . Business owners want to specify whether you want debt or equity, terms and conditions, and the time the funding request will cover. Finally, there needs to be an element of future-sight included in the request. You’ll need to let investors know plans of paying off debts , selling the business, or opening up multiple clinics in the long-term.

Financial Projections

Selling the unknown takes a lot of charisma and data. This stage of your business plan will encompass your entire financial projections for the first five years of business. The financials should include, but are not limited to: ‍ Sales forecast – By using the market and competitor data, you’ll want to project the monthly sales data for your practice. The forecast should include a pricing structure for each treatment rendered and how many patients you expect to see per month. You should be meticulous by doing a month-by-month analysis within the first two years of business. Afterward, you can defer to quarterly sales projections. ‍ Expenses budget – In detail, explain the overhead and varied costs in any given month. Investors will want to see a profit yield on physical therapy provided to clients. ‍ Cash Flow Statement –The cash flow statement will depict how much money is coming into your practice versus how much is going out. Unfortunately, starting a private practice from scratch offers little perspective on the real cash flow analysis. However, you can use sales forecasting, industry knowledge, and the expense budget to hit projections accurately. Revenue will often lag in cases where patients pay off their physical therapy debts on payment plans. Be mindful of carried balances when pinpointing the cash flow so your business can project accurate revenue on hand. ‍ Profit and Loss Statement – A culmination of your sales projections, expense budget, and cash flow analysis used to provide insight on what the clinic will—or won't take home in the next five years. Most new businesses will add a break-even projection goal to educate on when the clinic will start turning a profit. ‍ Balance Sheet – A detailed list of all assets and liabilities, providing you with a bottom-line value of the clinic.

Supporting Documents Required

Finally, you’ll want to provide some supporting documents relevant to your situation. These could include but are not limited to blueprints of the clinic, marketing mock-ups, quotes and estimates from contractors, legal documents about your physical therapy practice, and accolades such as industry awards or customer letters.

Be Flexible and Keep Your Plan Updated

Once you get your plan completed and begin implementing it, keep it handy for reference and update it often as you learn what's working and what isn't. The plan should be a guide giving you a path to success with the understanding that market realities may cause you to need to tweak or change your path - in some cases considerably. It's OK to grow and change, that should be part of the plan too but with a plan in hand you'll be able to be very clear on what you're changing and why. It will also help you give clarity to your team and potential investors or bank, as needed.

The Bottom Line

Sit back with an umbrella and a bendy straw and enjoy your new business plan. Creating an outline is the first big step towards owning a private practice. And while starting is difficult, hopefully, each section of the business plan equips practice owners with a strategy. If you’re looking to simplify your scheduling, EMR, billing, organization, and other aspects of your new physical therapy practice experience our free live demo that’s guaranteed to streamline opening a clinic.

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Here's how you start a profitable physical therapy practice.

Embarking on a journey to open a physical therapy clinic can be an incredibly rewarding venture for those with a passion for helping others improve their physical health and well-being.

Whether you're a seasoned physical therapist aiming to establish your own practice or a recent graduate ready to make a positive impact in the healthcare industry, launching a clinic requires meticulous planning and commitment.

In this blog post, we'll navigate you through the crucial steps of opening a physical therapy clinic, from the initial planning stages to the celebratory ribbon-cutting ceremony.

How you should prepare to start a physical therapy practice

Market research and concept, choose a concept.

Choosing a concept is one of the first steps in opening a physical therapy practice because it defines the scope of your services, the design of your clinic, and the target demographic you will serve.

This decision will influence your clinic's location, interior setup, treatment offerings, pricing, and marketing approach. A well-defined concept can help your practice stand out and attract patients who are looking for the specific services you offer.

In essence, selecting the right concept is like deciding on the theme of your practice before you start creating the space and developing your treatment plans.

To assist you in making an informed choice, we have summarized the most popular concepts for a physical therapy practice in the table below.

Pick an audience

When establishing a physical therapy practice, it's crucial to tailor your services and clinic environment to the specific needs and preferences of your target patient demographic.

For instance, if you aim to serve athletes, you might focus on sports rehabilitation and performance enhancement services. Your clinic could be equipped with state-of-the-art exercise equipment and located near gyms or sports centers.

Conversely, if your goal is to cater to an elderly population, you might emphasize treatments for arthritis, balance issues, and post-surgical recovery. The clinic should be easily accessible, with a warm and inviting atmosphere that makes patients feel comfortable and safe.

Understanding your target audience is essential because it shapes every aspect of your physical therapy practice, from the types of therapy services you offer to the design of your clinic and its location. It's akin to customizing a treatment plan; you consider the patient's specific condition and goals before determining the best course of action. This ensures that the services provided are both relevant and appealing to them.

Moreover, knowing your audience enables you to communicate with them more effectively. If you're aware of who you're trying to reach, you can devise the most appropriate marketing strategies to engage them. For example, if you're targeting seniors, you might advertise in community centers or local newspapers that are read by the older demographic.

In our business plan for a physical therapy clinic , we have outlined different patient segments that could be relevant for your practice.

To help you visualize potential patient demographics for your physical therapy clinic, we've compiled a few typical examples below.

Get familiar with the industry trends

As a physical therapist, staying informed about the emerging trends in the industry is crucial for the success of your practice.

These trends indicate the evolving needs and preferences of patients. By aligning your services with these trends, you can attract a broader clientele who are seeking the latest and most effective treatments. Additionally, differentiating your practice through specialized services can set you apart from competitors who may offer more generic care.

For instance, we regularly update our business plan for physical therapy practices to include new and emerging trends. We believe this is essential for developing a thriving and forward-thinking practice.

One significant trend is the growing emphasis on holistic and preventative care, where patients are looking for treatments that address the whole body rather than just specific symptoms.

Another trend is the integration of technology in physical therapy, such as virtual reality for rehabilitation exercises or wearable devices to monitor progress.

Patients are also increasingly interested in personalized care plans that are tailored to their unique needs and lifestyles, moving away from one-size-fits-all approaches.

Moreover, there's a rising demand for at-home therapy options, fueled by the convenience and comfort it offers, especially after the increased need for remote services during the pandemic.

We have compiled a list of more trends in the table below.

However, there are also some declining trends.

For example, as patients become more informed, there's a decline in the acceptance of passive treatments that don't involve patient participation or education.

Also, with a shift towards evidence-based practice, therapies that lack scientific backing are becoming less popular among both patients and practitioners.

Finally, with the increasing importance of environmental sustainability, the use of single-use items and non-eco-friendly clinic practices is being scrutinized and reduced.

Choosing the right location

Selecting the right location for your physical therapy clinic is a critical decision that can significantly impact its success. It requires careful consideration of several factors to ensure that you are well-positioned to attract and retain clients.

Understanding the local demographics is the first step. A physical therapy clinic should be located in an area with a population that may require your services. For instance, if you specialize in sports injuries, being near athletic facilities or communities with a high concentration of active individuals can be beneficial. If your focus is on geriatric physical therapy, a location near retirement communities or areas with an older demographic would be ideal.

Visibility and accessibility are also crucial. Your clinic should be easy to find and reach, whether by car, public transport, or on foot. Locations near main roads, with good signage, ample parking, and ground-floor access are preferable to ensure that clients, including those with mobility issues, can access your services with ease.

Competition should be assessed carefully. While it's not advisable to be too close to another physical therapy clinic, a certain level of competition indicates a demand for these services. Additionally, being part of a medical complex or near hospitals and doctors' offices can be advantageous, as it may lead to referrals and a steady stream of clients.

Rent costs are a significant factor. Prime locations with high visibility often come with higher rents, so you should ensure that the cost is sustainable based on your projected client base and revenue. Sometimes, a less central location with lower rent can be more profitable if you have a strong marketing strategy and referral network.

Negotiating favorable lease terms can make a big difference in your clinic's financial health. This might include securing a lease with renewal options, negotiating a cap on rent increases, or obtaining a period of reduced rent at the beginning to offset initial setup costs.

Consider the growth potential of the area. Is the neighborhood developing in a way that could bring more clients to your clinic? The possibility of expanding your clinic within the same location in the future can be a significant advantage as your business grows.

Convenience factors such as parking and public transportation should not be underestimated. A clinic that's easy for clients to travel to is more likely to maintain a loyal client base.

Market research and demographic analysis tools can offer valuable insights into the best locations for your physical therapy clinic. These tools can help pinpoint neighborhoods with the right client base for your services.

The choice between a city center and a suburban area depends on your target market and business model. City centers may provide a larger potential client base but often come with higher rents and more competition. Suburban areas might offer a more dedicated client base with potentially lower rent but may require more marketing efforts to establish your presence.

Being near community centers, gyms, or office complexes can provide a consistent flow of potential clients, especially if your clinic offers specialized services that cater to the needs of these groups.

Understanding local zoning laws, health regulations, and other legal requirements is essential to ensure that your chosen location is suitable for a physical therapy clinic. Compliance with these regulations from the outset can prevent costly changes and delays.

Finally, evaluating the long-term potential of a location is key. Consider future developments in the area that could impact your business, either positively by increasing your client base or negatively by introducing more competition or raising rent.

Startup budget and expenses

Calculate how much you need to start.

On average, the initial capital needed to open a physical therapy practice can vary significantly, ranging from approximately $20,000 to $100,000 for a modest clinic to $120,000 to over $250,000 for a more comprehensive facility in a prime location with state-of-the-art equipment.

If you want to know the exact budget you will need for your own physical therapy clinic and also get a full detailed list of expenses, you can use the financial plan we have created, tailored to physical therapy practices . This excel file is designed to be user-friendly and will provide you with an instant and detailed analysis of your future project.

The budget can vary the most due to the location of the clinic. Prime locations in high-traffic areas tend to have higher rental costs, which can significantly increase startup expenses.

The size of the clinic also plays a crucial role in determining the initial investment. A larger space not only increases rent but also requires more equipment, staff, and materials, leading to higher operational costs.

The quality of equipment is another significant factor. High-quality, durable equipment is expensive but can save money in the long run through efficiency and longevity. Conversely, starting with used or lower-quality equipment can reduce initial costs but may lead to higher maintenance or replacement costs over time.

If the available capital is limited, it's still possible to open a physical therapy clinic, but careful planning and prioritization are crucial. The very minimum budget could be around $20,000 to $40,000 if you choose a low-cost location, minimize the size of your operation, buy used equipment, and manage much of the work yourself. This approach requires a hands-on strategy, focusing on a niche service offering to reduce complexity and costs.

To make the most of a limited budget, consider the following tips.

Identify all your expenses

The expenses when starting a physical therapy practice include equipment purchases, licensing and permits, insurance, marketing and advertising, technology and software, staff training, office space and utilities, and a reserve for unexpected expenses.

Essential equipment for a physical therapy practice includes treatment tables, exercise equipment, modalities like ultrasound and electrical stimulation machines, and office furniture. Costs can vary widely based on whether you buy new or used equipment. On average, you might spend between $5,000 to $50,000. High-end or new equipment will be at the upper end of this range, while you can save by purchasing used equipment. Treatment tables and exercise equipment are among the most important, as they directly impact your ability to provide services to your patients.

Licenses and permits are critical for legal operation. Costs vary by location but typically range from a few hundred to a few thousand dollars. This includes professional licenses, health department permits, and possibly a business operation license.

Insurance is, obviously, non-negotiable to protect your business against liability, property damage, and other potential risks. Essential policies include professional liability, property insurance, and workers' compensation if you have employees. Annual premiums can range from $3,000 to $12,000 or more, depending on your coverage levels and practice size.

Also, allocating funds for marketing and advertising is crucial for attracting patients. Initially, you might spend between $500 to $3,000 on marketing efforts, including social media advertising, traditional advertising, and creating a website. The amount can vary based on your strategy and the competitiveness of your market.

Investing in technology and software for patient records management, appointment scheduling, and billing is important. Costs can range from $500 to $5,000, depending on the sophistication of the systems you choose. Subscription-based services may have ongoing monthly fees.

There are also training costs for staff and professional development. Setting aside $1,000 to $4,000 for initial training and ongoing professional development can help ensure high-quality care and service. This also includes any costs for obtaining or maintaining professional licenses.

Office space and utilities are a significant monthly expense that can vary greatly depending on location and size. Initial setup for a modest space can cost between $2,000 to $10,000, with ongoing monthly expenses for rent, utilities, and maintenance.

Finally, setting aside a reserve for unexpected expenses or emergencies is crucial. A good rule of thumb is to have at least three to six months' worth of operating expenses saved. This can cover unforeseen repairs, equipment failures, or shortfalls in cash flow.

Here is a summary table to make it easier to digest. For a full breakdown of expenses, please check our financial plan for physical therapy practices .

Business plan and financing

Make a solid business plan.

You may have heard it time and again, but it bears repeating: crafting a business plan when starting a physical therapy practice is indispensable.

Why is this the case? A business plan acts as a strategic guide for your venture, detailing your objectives, the methods you'll employ to achieve them, and the potential obstacles you may encounter along the way. A meticulously prepared business plan is not just a tool for maintaining organization and focus; it's also critical if you're looking to attract funding from investors or financial institutions, as it showcases the feasibility and prospective profitability of your practice.

The essential elements of a physical therapy business plan encompass market research, financial projections, and operational strategies, among other components. Market research is vital to comprehend your target demographic, their needs, and the competitive environment. This involves examining trends in the physical therapy sector, pinpointing your primary competitors, and determining a niche or unique value proposition that distinguishes your services.

Financial planning is another crucial facet. This segment details your anticipated income, costs of services (including equipment and supplies), labor expenses, and other operational costs. It should also feature forecasts for profit and loss, cash flow, and a break-even analysis. Financial planning offers a transparent view of your practice's fiscal status and growth prospects to both you and potential backers. You will find all this information in our financial plan for a physical therapy practice .

While the structure of a physical therapy business plan shares commonalities with other business plans, the focus on certain areas may vary.

For instance, a physical therapy practice will emphasize service development (offering a range of therapeutic services), equipment procurement (securing reliable and effective rehabilitation tools), and location analysis (accessibility and convenience for patients). Additionally, it's crucial to demonstrate adherence to healthcare regulations and standards.

To thrive and create a persuasive business plan for your physical therapy practice, you should conduct in-depth research and maintain realistic expectations regarding your financial estimates and capabilities. Engage with potential clients to grasp their requirements, preferences, and readiness to pay for your services. Also, contemplate the scalability of your business model and how you might broaden or modify your service offerings in the future.

In the context of physical therapy, special attention should be given to establishing a strong brand identity and marketing approach that connects with your intended audience. Emphasizing the expertise of your staff, the effectiveness of your treatments, or the personalized care you provide can set your practice apart in a competitive field.

Success depends not only on the excellence of your therapeutic services but also on meticulous planning, understanding your clientele, managing finances prudently, and implementing your operational strategy with precision.

Keep in mind, a business plan is not a static document but a dynamic one that should be revisited and refined as your physical therapy practice expands and adapts.

Get financed

Don't have the capital to start your own physical therapy practice? No problem, there are numerous financing options available to you.

Financing for a physical therapy practice can come from various sources: equity investments from partners or angel investors, loans from banks or credit unions, and potentially grants or subsidies from healthcare initiatives or professional associations.

Each financing method has its own set of benefits and things to consider.

Equity investments involve acquiring funds from partners or investors who will own a share of your practice. This is beneficial because it doesn't require immediate repayment like a loan does.

However, it does mean relinquishing some level of ownership and possibly some decision-making power in your practice.

For a physical therapy practice, this might be a good option if you're looking to scale quickly or need substantial initial capital for specialized rehabilitation equipment or a desirable location. To attract investors, you'll need a robust business plan that shows growth potential, profitability, and a deep understanding of the physical therapy market.

Securing a loan is another common financing route.

With a loan, you'll have to pay back the borrowed amount plus interest, but you get to maintain complete ownership of your practice. Loans can be used for a variety of purposes, including buying equipment, covering startup costs, or financing property improvements.

Banks and credit unions will typically ask for a down payment or collateral; the required amount can vary but often falls between 15% to 25% of the loan's value. It's crucial to consider how much of your budget will come from loans to avoid overwhelming your new practice with debt. Ideally, your physical therapy practice's projected income should easily cover your loan payments while still allowing for operational costs and growth.

Grants and subsidies are less common but can be a valuable resource.

These funds are often provided by government health programs, professional associations, or non-profit organizations to support healthcare services, particularly in areas with high demand or low access. Grants and subsidies don't need to be repaid, but they are competitive and usually come with specific requirements.

For a physical therapy practice, grants and subsidies might not be the main source of funding but could support other financing methods for particular projects or needs.

To effectively secure financing from lenders or investors, it's essential to prove the viability and profitability of your practice.

This means creating a comprehensive business plan that includes market analysis, a clear definition of your target demographic, detailed financial projections, and a strong marketing approach. Your business plan should emphasize what makes your physical therapy practice stand out, such as specialized services, a strong professional network, or a strategic location.

Lenders and investors will judge your practice based on several factors, including your creditworthiness, industry experience, available collateral, and the strength of your business plan.

They'll examine the financial projections of your practice to determine if you can generate sufficient revenue to cover operating costs, repay debts, and still profit. Showing a thorough understanding of the physical therapy industry, including trends, patient needs, and competitive analysis, will also strengthen your case.

Here's a summary table of the various financing options mentioned for starting a physical therapy practice, along with their advantages, considerations, and potential uses:

Legal and administrative setup

Permits and licenses.

Opening and operating a physical therapy practice involves meticulous planning and compliance with various regulations and requirements to ensure the safety, health, and satisfaction of your patients, as well as to safeguard your business.

The specific permits, licenses, health department regulations, inspection schedules, consequences of non-compliance, and insurance policies you'll need will vary by location, but there are general guidelines that apply in many places.

First, you'll need to obtain the necessary business permits and licenses.

This typically includes a professional license for physical therapy from your state's health or medical board, a business license from your city or county, and possibly a National Provider Identifier (NPI) if you plan to bill health insurance companies. Depending on the services you offer, you may also need additional certifications or licenses, such as for specialized therapy techniques or the use of certain equipment.

It's crucial to check with your state's physical therapy board and local government to understand the specific requirements for your area.

Regarding health department regulations, physical therapy practices must comply with standards that ensure the cleanliness of the facility, proper sterilization of equipment, and safe practice environments to prevent the spread of infections.

This includes maintaining a clean and sanitary workspace, adhering to proper hand hygiene, and following guidelines for the use and cleaning of therapy equipment. Health department inspections may be conducted to ensure compliance with these regulations. The frequency of inspections can vary, but typically, they occur at least once every two years or more often if there are complaints or previous issues. Some jurisdictions may also require a pre-operational inspection before the practice can open.

Non-compliance with health department regulations can result in consequences ranging from fines to temporary suspension of your license or closure of the business until violations are corrected.

In severe cases, non-compliance can lead to permanent revocation of your license or legal action. It's essential to take these regulations seriously and ensure your practice complies with all health and safety standards.

Insurance is another critical aspect of protecting your physical therapy business. At a minimum, you'll need professional liability insurance, also known as malpractice insurance, to cover claims of negligence or harm resulting from your professional services.

General liability insurance is also important to cover accidents or injuries that occur on your premises. Property insurance can protect your practice's physical assets from damage or theft. If you have employees, workers' compensation insurance will likely be required by law to cover injuries or illnesses that occur as a result of their work.

Additionally, considering business interruption insurance might be wise, as it can help cover lost income if your practice must close temporarily due to a covered event.

Business Structure

The three common structures for opening a physical therapy practice are LLC (Limited Liability Company), partnership, and sole proprietorship. Each has their unique features and implications for your business.

Please note that we are not legal experts (we specialize in healthcare business and financial planning) and that your choice should be based on how much risk you're willing to accept, how you prefer to handle taxes, and your plans for growing and possibly selling your physical therapy practice.

In simple terms, a sole proprietorship is simple and straightforward but carries personal liability. A partnership allows for shared responsibility but requires clear agreements to manage risks. An LLC offers a balance of protection and flexibility, making it a strong option for many healthcare professionals looking to scale their practice.

Consider your long-term goals, and consult with a financial advisor or attorney to make the best choice for your physical therapy practice.

We’ll make it easier for you, here is a summary table.

Getting started to start a physical therapy practice

Offer development, design and lay out.

Designing and laying out your physical therapy clinic for operational efficiency and an enhanced patient experience requires careful consideration and strategic planning.

Let's explore how you can achieve this, focusing on patient flow, balancing equipment needs with budget, and ensuring health and safety.

Firstly, envisioning patient flow is crucial.

Your clinic's design should guide patients seamlessly from the entrance to the reception area, through to the waiting room, and finally into the appropriate treatment rooms. This flow should be intuitive, minimizing congestion and ensuring a smooth transition from one area to the next. Place educational materials and engaging content in the waiting area to inform patients about various treatments and promote wellness.

This setup not only educates your patients but also helps them feel more at ease as they wait for their appointment.

Regarding the design to facilitate this flow, consider the layout's openness and accessibility.

Wide corridors, clear signage, and a logical arrangement of the space promote easy movement and comfort. The reception area should be clearly marked and separate from the treatment areas to avoid confusion and maintain privacy. If your clinic offers a gym or rehabilitation space, ensure it's comfortably distanced from the treatment rooms to prevent noise interference and maintain a calm atmosphere for those in therapy.

Balancing the need for high-quality equipment with budget constraints is a challenge many face.

Start by prioritizing essential equipment that directly impacts the quality of your patient care, such as treatment tables and exercise machines. These are worth investing in because they are the cornerstone of your clinic's services. For other items, consider buying gently used or refurbished equipment from reputable suppliers to save money without significantly compromising quality.

Additionally, plan for equipment that offers versatility and efficiency, like adjustable treatment tables or multi-purpose exercise machines, to get the most value for your investment.

Health and safety in the clinic layout are non-negotiable. Your design must incorporate zones designated for different treatments to prevent any risk of injury or infection. For example, separate areas for manual therapy, exercise therapy, and modalities ensure that each aspect of patient care is contained and controlled. Install handwashing stations at key points, especially near the treatment areas, to encourage regular hand hygiene among staff and patients.

Specific protocols for patient handling, equipment sterilization, and treatment procedures are crucial for safety and compliance. Implement a system that ensures all equipment is cleaned and sanitized after each use, with proper storage for clean and used items.

Train your staff thoroughly in health and safety practices, emphasizing the importance of handwashing, wearing gloves when appropriate, and maintaining a clean and organized environment.

Regularly review and update these protocols to comply with local health regulations and best practices.

Craft your offer

Your treatment offerings and your approach to patient care will be the reason why your physical therapy practice is successful (or why it is struggling).

To start, identify the preferences and needs of your target market through direct engagement, such as patient interviews and feedback forms, and indirect research, like analyzing health trends in your area and reviewing what successful competitors are offering.

Once you have a clear picture of your target market's needs, you can begin to craft a service menu that not only meets their health requirements but also distinguishes your practice from others.

Incorporating specialized and evidence-based treatments into your physical therapy services is a fantastic way to enhance appeal and effectiveness.

This approach not only ensures that you are providing the most current and effective treatments but also helps in addressing specific health conditions more effectively. Make connections with medical professionals and institutions to understand what treatments are most sought after and effective. This knowledge allows you to plan your services to include cutting-edge therapies, offering special programs that can attract patients looking for the latest and most effective treatment options. Offering specialized programs also creates anticipation among your patients, as they look forward to the potential for improved health outcomes.

To ensure your physical therapy services stand out in a competitive market, focus on specialization and patient experience.

This can be achieved by offering niche services that are hard to find elsewhere, such as therapy for rare conditions or advanced sports rehabilitation techniques. Sharing success stories and patient testimonials can also add a unique appeal and build trust with potential clients.

Ensuring consistency and quality in your treatments involves establishing rigorous standards and protocols.

This can include detailed treatment plans with specific goals and milestones, thorough training for your therapy staff, and regular outcome assessments. Consistency is key to building trust with your patients, as they will know exactly what to expect each time they visit your practice. Invest in high-quality equipment and continuous education, and don’t shy away from adopting new techniques and therapies that have proven to be effective.

Also, utilizing patient feedback is essential for continuous improvement and refinement of your physical therapy services. Create channels for feedback, such as follow-up calls, online surveys, and social media engagement, to understand what your patients appreciate and where there might be room for improvement.

Be open to constructive criticism and willing to make changes based on patient input. This not only helps in refining your services but also shows your patients that you value their health and satisfaction, fostering loyalty and encouraging referrals.

Determinate the right pricing

As a physical therapist, setting the right prices for your services is crucial to ensure a sustainable business while keeping your clients satisfied. Here's a strategy to balance profitability with customer satisfaction.

Firstly, you must understand your costs thoroughly. This includes rent for your practice space, equipment, utilities, staff salaries, insurance, and any other operational expenses. Knowing these costs is vital to ensure your pricing covers them and allows for a healthy profit margin.

Next, research the market to understand the going rates for physical therapy services. Look at what competitors charge for similar services and take note of any value-added offerings they provide. This will help you set a competitive baseline without necessarily matching the lowest prices.

Understanding your clients' price sensitivity and preferences is also key. Gather feedback through patient surveys, focus groups, or by monitoring how changes in your pricing affect demand. This will help you find the sweet spot where clients feel they are getting value without being overcharged.

Psychological pricing strategies can be applied in a physical therapy context as well.

For example, setting a session price at $99 instead of $100 can make a psychological difference to a client, even though the actual savings are minimal. However, you should use this strategy carefully to maintain the perceived value of your professional services.

The perceived value of your physical therapy services is influenced by the quality of care, the results you deliver, and the overall patient experience. Investing in advanced therapy techniques, maintaining a clean and welcoming practice environment, and providing exceptional patient care can justify higher prices because clients perceive greater value in their treatment.

Consider implementing off-peak pricing to encourage appointments during typically slower hours or days. For instance, offering a slight discount for mid-week morning sessions can help fill your schedule more evenly throughout the week.

When introducing new services or treatment packages, consider using introductory pricing to entice clients to try them. After the initial period, you can adjust prices based on the response and cost-effectiveness of the new offerings.

For services that may be booked online, ensure that your pricing strategy accounts for any additional administrative or technology costs. You might offer online booking discounts or package deals exclusive to your website to promote this convenient booking option.

Finally, be cautious with discounting services. While occasional promotions can attract new clients or reward loyal ones, frequent discounts can undermine the perceived value of your expertise. Use discounts strategically, perhaps in conjunction with a referral program or as a one-time offer for a client's first visit, without setting a precedent for ongoing reduced rates.

By carefully considering these factors, you can set a pricing strategy that supports your physical therapy practice's financial goals while keeping your services accessible and appealing to your clients.

Manage relationships with your suppliers

Poor relationships with suppliers could significantly hinder the success of your physical therapy practice.

On the contrary, establishing strong partnerships with equipment suppliers and service providers ensures the consistent availability of high-quality therapy tools and materials.

Maintaining open lines of communication, making timely payments, and showing appreciation for their products and services can build loyalty and dependability. Be clear about your professional standards and patient needs, and if possible, visit their facilities. This will give you a better understanding of their production quality and any potential challenges, which can lead to more effective collaboration.

Consider long-term contracts for essential equipment and supplies to secure better pricing and ensure availability. However, it's also wise to have a network of alternative suppliers to reduce the risk of being unable to provide necessary treatments due to equipment shortages.

For managing inventory, such as exercise aids, braces, and clinical supplies, inventory management techniques are crucial. Regularly review inventory levels to adjust orders based on patient demand, avoiding excess stock and minimizing the risk of having outdated or expired products. A just-in-time (JIT) inventory system can be beneficial, where supplies are ordered and received as needed, though this requires accurate forecasting of patient needs.

Technology can significantly enhance inventory management and reduce unnecessary expenses in a physical therapy practice.

Implementing an inventory management system that integrates with your practice management software allows for real-time tracking of equipment and supply levels. This technology can help predict patient needs more accurately, streamline ordering processes, and identify trends that can inform service offerings and marketing strategies.

Additionally, digital tools can improve communication with suppliers, enabling more efficient order adjustments and collaboration.

Scaling your physical therapy practice presents challenges such as maintaining treatment quality, managing increased operational costs, and ensuring patient satisfaction. Address these challenges by standardizing treatment protocols, training staff thoroughly, and investing in equipment that can increase treatment efficacy without compromising patient care.

Scaling up also means more supplies, so negotiate pricing with suppliers for bulk purchases without sacrificing the quality of materials. Quality control becomes even more critical as your practice grows, requiring strict adherence to therapeutic standards and more frequent equipment checks.

Implementing effective cost control measures involves scrutinizing every aspect of sourcing and using therapy equipment and supplies. Regularly review and negotiate with suppliers to ensure you're getting the best value without compromising on the quality that your patients expect.

Also, consider alternative products that may offer cost savings or have special pricing due to bulk purchasing. Utilize technology to track and analyze costs, waste, and inventory levels to identify areas for improvement. Reducing waste not only cuts costs but also aligns with sustainable practices, which can enhance the reputation of your practice among environmentally conscious patients.

Hire the right people

When starting your own physical therapy clinic, you should consider the essential roles that will need to be filled to ensure a high standard of care and efficient operations.

At the core, your clinic will require a team that includes licensed physical therapists, physical therapist assistants, and administrative staff.

For patient care, you'll need licensed physical therapists who are skilled in assessing, diagnosing, and treating a variety of conditions. A lead physical therapist with extensive experience and specialized training can help set the standard for care and mentor other staff members.

Physical therapist assistants (PTAs) are also crucial, working under the direction of physical therapists to provide part of the patient's treatment and help with exercises and modalities.

On the administrative side, receptionists or front desk staff are essential for managing appointments, patient records, and providing excellent customer service. A clinic manager or owner-operator who can handle the business aspects, such as staff management, billing, and compliance with healthcare regulations, is also vital.

Specialized roles, such as sports rehabilitation therapists or occupational therapists, may not be necessary from the start but can be added as your clinic expands and the demand for specific services grows. Outsourcing tasks like accounting, marketing, and IT support can be a strategic way to focus on patient care while utilizing external expertise.

When hiring, prioritize candidates with the necessary certifications, experience, and a passion for helping others. For physical therapists, look for a degree in physical therapy and a valid state license. PTAs should have completed an accredited PTA program and obtained licensure. Administrative staff should have experience in healthcare settings and strong organizational skills.

To ensure a good fit with your clinic's culture and patient care philosophy, consider practical assessments during the hiring process, such as role-playing patient scenarios or reviewing case studies.

Seek candidates who are compassionate, dedicated to patient recovery, and adaptable to the dynamic nature of healthcare.

Finding the right candidates can be challenging. Utilize professional networks, healthcare job boards, and social media platforms to reach potential hires. Networking within healthcare communities and attending job fairs can also be effective. Offering internships or partnerships with local physical therapy programs can help attract new graduates.

Here is a summary table of the different job positions for your physical therapy clinic, and the average gross salary in USD.

Running the operations of your physical therapy practice

Daily operations.

Running a physical therapy clinic smoothly requires organization, efficiency, and a patient-centered approach. By implementing the right systems and fostering a positive environment, you can ensure your clinic operates at its best.

Firstly, adopting a clinic management software tailored for physical therapy practices can greatly enhance your daily operations.

Choose a system that integrates appointment scheduling, patient records, and billing. This integration allows you to manage appointments effectively, maintain accurate and secure patient records, and streamline the billing process.

Many advanced clinic management systems also include telehealth capabilities, which can broaden your service offerings and provide convenience for patients who are unable to visit the clinic in person.

For patient record management, you want software that allows you to document treatments, progress notes, and patient outcomes efficiently.

The best systems enable you to customize templates for different treatment protocols, set reminders for follow-up appointments, and generate reports to track patient progress. This helps in providing personalized care and adjusting treatment plans as needed.

Effective communication with other healthcare providers is also essential for a physical therapist's success.

Establish secure channels for sharing patient information and collaborate closely with referring physicians and specialists. This ensures continuity of care and can lead to better patient outcomes. It's also important to stay informed about the latest research and treatment techniques in your field.

Keeping your team engaged and motivated is about creating a supportive work environment and promoting professional development.

Regular in-service training, clear communication of clinic goals and policies, and constructive feedback are key. Acknowledging and rewarding dedication and achievements can also help maintain a positive team spirit. Ensure that work schedules are fair and allow for a healthy work-life balance.

Ensuring that every patient has a positive experience starts with the atmosphere of your clinic, the effectiveness of your treatments, and the service provided by your team.

Train your staff to be empathetic, knowledgeable, and efficient. Encourage them to build rapport with patients, contributing to a more comfortable and trusting therapeutic environment.

Maintaining a clean, accessible, and well-equipped clinic, with clear signage and a layout that accommodates patients with different needs, also enhances the patient experience.

Effective patient service policies for a physical therapy clinic might include a commitment to timely and effective treatments, clear communication about treatment plans and expectations, and a system for gathering and acting on patient feedback.

Make it easy for patients to provide feedback, whether in the clinic, through your website, or via email. Respond to feedback promptly and constructively, showing that you value their input and are dedicated to improving their care.

Handling patient feedback and concerns with professionalism is crucial. Always listen to the patient's issues fully before responding. Apologize where necessary and offer a solution or adjustment to the treatment plan, if appropriate.

Use feedback as an opportunity to refine your clinic's operations, treatments, or customer service. Turning a less-than-ideal situation into a positive one can often result in a more satisfied and loyal patient.

Revenues and Margins

Know how much you can make.

Understanding the financial dynamics of a physical therapy practice is crucial for its success.

We have an in-depth article on the financial aspects of running a physical therapy clinic that you might find useful. Here, we'll provide a brief overview.

One key metric for a physical therapy clinic is the average revenue per patient visit.

The average revenue per patient visit is the average amount a patient pays for a session of physical therapy.

This metric can vary widely depending on the services provided, the clinic's location, and the patient's insurance coverage. For a standard outpatient clinic, the average revenue per visit might range from $75 to $150 .

Specialized clinics, such as those focusing on sports medicine or pediatric therapy, may command higher fees due to their targeted expertise and services, with average revenues per visit potentially between $100 and $200 .

Home health physical therapy services, which involve therapists visiting patients at home, might see different revenue ranges due to the added convenience and personalized care, possibly between $100 and $250 per visit.

When it comes to overall revenue, it also varies. You can estimate your clinic's revenue accurately with our tailored financial plan for physical therapy practices .

Urban clinics might see monthly revenues ranging from $10,000 to $50,000 , translating to annual revenues from around $120,000 to $600,000 .

Rural clinics, facing a smaller potential patient base, might expect annual revenues on the lower end of that spectrum ( annual revenue between $80,000 and $400,000 ).

New clinics in the startup phase often experience lower revenues as they work to establish a patient base and reputation. Initial monthly revenues might not exceed $8,000 .

Conversely, established clinics with a solid patient base and referrals can enjoy higher and more stable revenues.

Specialized clinics, while potentially charging higher rates, may have a smaller patient base due to the niche nature of their services. Their annual revenues can vary greatly.

Physical therapy clinics don't just earn money from patient visits. They can diversify their income with additional services and offerings.

If you're looking for inspiration, here's a table that outlines various potential revenue streams for a physical therapy clinic.

Understand your margins

As a physical therapist, understanding the financial health of your practice is as crucial as providing excellent patient care. While revenue is important, it's the profit margins that truly determine the sustainability of your practice.

Let's delve into the key profitability metrics: gross and net margins, which are vital for assessing the financial performance of a physical therapy practice.

To calculate your own margins and gain insight into your potential profit, you can adjust the assumptions in our financial model designed for physical therapists .

Gross margins for physical therapy services typically range from 30% to 50%. Gross margin is the difference between the revenue earned from patient services and the direct costs associated with providing those services (such as salaries for physical therapists and aides, and costs of supplies and equipment), divided by the revenue, and then multiplied by 100 to get a percentage.

Net margins consider not only the direct costs but also all other operating expenses, including rent for the practice space, utilities, administrative expenses, marketing, insurance, and taxes. Net margins provide a more complete picture of a physical therapy practice's profitability and are generally lower than gross margins, with industry averages often between 10% to 20%.

Different types of physical therapy practices—solo, group, and specialized—may experience varying profit margins due to differences in their operational structures and client bases. Here is a table to illustrate these differences.

The margins of a physical therapy practice can be influenced by several factors, including the mix of services offered, pricing strategy, and the volume of clients.

A diverse range of services can attract a wider clientele but may also increase operational complexity and costs. Pricing strategy is critical; fees must be competitive yet sufficient to cover costs and yield a profit. Client volume impacts revenue and the ability to spread fixed costs over a larger number of sessions.

Ongoing expenses that affect margins include salaries for staff, rent for the practice space, utilities, and the cost of supplies and equipment. Salaries are a major expense, particularly as the practice grows and additional therapists are hired. Rent can vary significantly based on location, and utilities and equipment costs must be managed efficiently.

Practices that specialize in areas such as sports rehabilitation or pediatric therapy may have different margin profiles compared to general practices. While specialized practices can command higher fees, they also face higher costs for specialized equipment and potentially limited client bases.

External factors such as healthcare regulations, insurance reimbursement rates, and patient demographics also influence the margins of a physical therapy practice. Adapting to changes in these areas is essential for maintaining profitability.

Managing margins in the face of rising operational costs is a challenge. Physical therapy practices can address this by optimizing cost management, implementing strategic pricing, and investing in technology to improve patient outcomes and operational efficiency.

Regular monitoring and analysis of financial performance, including gross and net margins, is crucial for the long-term success of a physical therapy practice. Fortunately, you can track all these metrics using our financial model specifically created for physical therapists .

Implement a strong marketing strategy

Marketing for a physical therapy clinic doesn't have to be an overwhelming task. We understand that as a physical therapist, your primary focus is on providing excellent patient care, and you may not have extensive time to dedicate to marketing. That's why we've crafted a straightforward and practical marketing strategy, which you can find detailed in our business plan for a physical therapy clinic .

Building a strong brand for your physical therapy clinic is essential.

Your brand represents how patients perceive and remember your services. It encompasses more than just your clinic's name or logo; it's about the patient experience, the healing environment you create, and the core values you uphold, such as holistic health or innovative treatment methods. A distinctive brand will differentiate your clinic in a competitive healthcare market and help cultivate a dedicated patient base.

Begin your marketing plan by identifying your target demographic. Who are the patients you aim to serve? What are their primary health concerns? Do they value personalized care, cutting-edge treatments, or perhaps a family-friendly environment? Knowing your audience will shape your branding and promotional efforts.

When it comes to promotion, social media and online marketing are invaluable for physical therapists. Platforms like LinkedIn, Facebook, and even Instagram can be excellent for demonstrating your expertise and connecting with potential patients.

Share educational content that informs your audience about common physical ailments and the treatments you offer. This not only adds a personal touch but also showcases your knowledge and dedication to patient health.

Patient testimonials and success stories can foster trust and motivate others to seek your services. Educational videos or health tips can engage your audience, provide them with valuable information, and position your clinic as a leader in the field.

Content strategies that work well for physical therapy clinics include highlighting patient recovery journeys, explaining treatment modalities, and promoting wellness and preventive care. Collaborating with local healthcare providers or fitness influencers can also increase your visibility.

However, not all marketing techniques will be suitable for your clinic. For instance, if your target patients are in your local area, investing in broad, national advertising may not be cost-effective. Similarly, if your clinic specializes in sports rehabilitation, focusing on content related to geriatric care might not resonate with your brand.

Even with a modest budget, there are several strategies you can employ to attract new patients.

First, consider participating in community health fairs or local events where you can offer free consultations or workshops. This not only introduces your services to potential patients but also builds community presence.

You can also provide educational seminars or classes in your clinic or at local community centers to engage with the public.

Forming partnerships with local gyms, sports clubs, or other healthcare providers can extend your reach and create referral networks.

Implementing a referral program can encourage your current patients to recommend your clinic to others. Simple incentives or discounts on future services can be quite compelling.

Lastly, never underestimate the power of word-of-mouth marketing. Encourage your satisfied patients to share their positive experiences by offering them rewards for bringing in new patients.

Grow and expand

We want you to thrive in your physical therapy practice. The insights provided here are intended to help you reach that goal.

Imagine you're already running a successful physical therapy clinic with solid profit margins and a steady influx of clients. Now is the time to contemplate how to scale and expand your services.

There's always potential for greater achievement, and we're here to show you the path to further success.

Also, please note that we have a 3-year development plan specifically designed for physical therapy practices in our business plan template .

Successful physical therapists often possess qualities such as empathy, excellent communication skills, a strong knowledge base in their field, and the ability to build trust with their patients. These traits are essential as they explore ways to grow their practice.

Before adding new services or specialties, consider the current market demand, how these services complement your existing offerings, and the impact on your clinic's operations.

Market research is critical in this phase. By understanding patient needs, emerging health trends, and the success of similar services in the market, you can make informed decisions that are in line with your clinic's capabilities and patient expectations.

To evaluate the success of your current operations, look at patient retention rates, client testimonials, and operational efficiency. If your clinic consistently meets or exceeds patient satisfaction goals, receives positive feedback, and operates smoothly, it might be time to consider expansion.

Opening additional clinic locations should be based on clear evidence of demand, a deep understanding of the target demographics, and the financial stability of your existing operation.

Franchising can be a way to expand with less capital risk, tapping into the entrepreneurial drive of franchisees.

However, it requires a reputable brand, proven treatment protocols, and the ability to support franchisees. Opening owned branches gives more control over patient care and clinic culture but demands more capital and hands-on management. Each approach has its pros and cons, and the decision should align with your business objectives, resources, and growth preferences.

Digital channels, including telehealth services and online appointment booking, can significantly extend a clinic's reach and patient base. An online presence allows you to serve patients beyond your immediate area, meeting the growing need for accessibility and convenience.

This strategy demands an understanding of digital health regulations, logistics for remote patient engagement, and maintaining high standards of care.

Branding is vital as it sets your clinic apart in a competitive market. A strong, consistent brand identity across all locations and platforms can foster patient loyalty and attract new clients. Enhance your brand by ensuring every patient interaction reflects your clinic's values, professionalism, and care quality.

Ensuring consistency across multiple locations is a challenge but is critical for success. This can be managed through comprehensive operational guidelines, staff training programs, and quality control measures.

Regular visits and audits, coupled with nurturing a cohesive, shared culture, help guarantee that each location maintains the standards that made your original clinic successful.

Financial indicators and business benchmarks that signal readiness for expansion include consistent profitability, robust cash flow, and achieving or surpassing patient volume projections over a considerable time.

Having a scalable business model and the operational capacity to support growth are also essential factors.

Partnerships with healthcare providers and participation in community health events can introduce your clinic to new patients and markets. These opportunities allow for networking, community involvement, and increased visibility, contributing to your practice's growth.

Scaling your services to meet higher demand involves logistical considerations such as investing in new equipment, optimizing patient scheduling, and potentially expanding your clinic space. It's crucial that your supply chain and staffing levels can handle the increased patient load without compromising care quality.

Finally, it's vital that your expansion efforts remain aligned with your clinic's core values and long-term objectives. Growth should not detract from the principles that made your practice successful.

Regularly revisiting your business plan and values can help ensure that your expansion strategies stay true to your vision and mission, preserving the essence of your physical therapy practice as it evolves.

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8 Crucial Content Areas for Your Physical Therapy Business Plan

If you feel ready to start your own PT clinic, you likely have worked as a therapist for several years (as an employee), and surely understand how a clinic works. You may even feel confident that you know what steps to take to make your business profitable. So why should you take the time to compose a business plan? In this article, we explain why you should seriously consider composing a physical therapy business plan. Then, we will provide guidelines for physical therapy private practice business plan content.

First Clarify Your Purpose

You may be a great therapist, but that doesn’t necessarily translate to your being a successful business person. A good business plan acts as a dynamic blueprint for running and expanding your business. The primary purpose of a physical therapy business plan is to define what your business is, or what you intend it to be over time. Clarifying the purpose and direction of your business allows you to understand what needs to be done for forward movement. Consider personal as well as financial goals. Through the process of composing your business plan, you will likely address many items that will drive or otherwise affect your business, including:

• resources needed to lease space
• lease equipment
• where to hire staff
• how to acquire referring sources to point patients to your new business

Attract Financing

  The Small Business Administration states,

“The development of a comprehensive business plan shows whether a business has the potential to make a profit.”

By putting statistics, facts, figures and detailed plans in writing, a new business has a better chance of attracting investors (e.g., family, friends, and possibly an SBA Loan) to provide the capital needed for getting started.

As you start your practice, and even as your business matures and grows, you will need to concern yourself with your business’ capital needs. Financing concerns begin with the start-up costs and continue with ongoing operations. When you look for outside financing, one of the first things an investor or bank will request is your business plan. Private investors, the SBA, or any lending institution will want to see how you plan on running your practice, what your expense and revenue projections are, and whether your plans are attainable with the business you have created. All of this can be answered by a well-written and thorough business plan.

The Eight Must-Haves for a Physical Therapy Business Plan

1) company description.

Explain the Form of Business you selected (e.g. LLC), choose a Company name and compose a Company Objective/Statement of Mission. In this section, you will also provide your bio and that of any key staff.  Finally, you will need to describe what milestones you may have already achieved to this point.  (E.g. secured a lease for space, scheduled a build-out, selected and leased your PT equipment, etc.)

2) Industry Analysis and Trends

This subject area is more crucial to start-ups seeking a large capital infusion. But it nevertheless has some subject matter that you should consider addressing.  You will want to describe the PT industry (i.e. is it expanding or shrinking?) and its seasonal factors.  Explain what technology you will be deploying (e.g. laptops, EMR software, 3 rd party billing & collection firm) and discuss whether your PT business is sensitive to economic cycles (e.g. how would your clinic be impacted by a recession?)

3) Market Positioning & Pricing

Describe your local demographics. Is the town in which your clinic is located mostly higher income, middle income or lower income?  Is the community or suburb mostly residential or is there significant industry in the area?  These factors will impact the provider mix of reimbursements, which will, in turn, impact your clinic’s profitability.  A Physical Therapy clinic has four unique aspects:

• Business/Administration
• Marketing/Advertising

Explain how you plan to address items b. and c., as most clinicians are not well-schooled in those aspects of ownership.  As your clinic grows, you may find that your time is split between the         burdens of running your business and the need to generate revenue as a clinician. When you reach this “tipping point”, will you seek outside help or just work longer hours?

4) The Competition

Describe your catchment area. How many (if any) other PT clinics are within a 2 ½ mile radius of your location?  Are they clinics owned by a large regional PT provider?  Or are they physician-owned or standalone clinics?  Hospital owned?  Patients do not typically want to drive more than 20-30 minutes to receive physical therapy so keep that in mind when locating your clinic.

5) Strategic Position & Risk Assessment

The content for this section typically is a discussion of your:

• Company’s strengths (you and your staff’s skills, experience, and specialty areas)
• Market/Industry Opportunities (e.g., as baby boomers enter retirement age and stay active later in their lives, demand from this demographic increases)
• Any risks that may impair your ability to grow a profitable business (e.g., capitalization limits, quality of clinical staffing)
• Strategic Position, i.e., how you’ll distinguish your clinic’s offerings from other PT clinics near/in your catchment area

6) Physical Therapy Marketing Plan / Sales Strategy

What is your Company’s “Message” to the local market? What is your brand promise and strategy to connect with your target audience? What Marketing vehicles do you plan to deploy? (E.g. website, social media profiles, brochures, physician “lunch and learns”, physician shadowing.) Finally, can you form strategic partnerships with local businesses, schools, and athletic teams to create more interest in your clinic’s services?

7) Operations

Here you will discuss your insurance verification, new patient documentation, patient scheduling, and compliance. Who will do your payroll?  You should decide whether you want to have in-house staff doing your billing and collection, or whether you will contract an outside firm for this work. You should also explain how you will staff your clinic at different patient visit levels. Be sure to address your I.T. configuration (e.g. computers, fax and copiers, etc.) and discuss contingency planning in the event of a business interruption.

8) Financial Data & Projections

Unless you are familiar with accounting and forecasting, you may wish to get help from a consultant or accountant to put your forecast together. A critical support piece is the opening section discussing your Financial Assumptions and Revenue Forecast. You will then need to put together an Income Statement, Sources and Uses Statement, and Balance Sheet that covers the first few years. Lending institutions or private investors will want to see at least a 3-year forecast, but most will ask for a 5-year forecast.

A well thought out and carefully written physical therapy private practice business plan can serve to clarify your thinking before launching your new clinic. This exercise forces you to think about many of the details surrounding your business start-up. A business plan may very well be necessary should you need to go to capital sources beyond your family and close friends. Composing a physical therapy business plan is not an easy task, but it can provide you with the comfort of knowing you have a thorough understanding of the business risks and opportunities for your new adventure. See our next article to understand what your first section, the Executive Summary , should include.

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Start Your Physical Therapy Clinic Using MEG’s Strategic Business Plan Method

• MEG Business
• September 6, 2023

You started your own physical therapy clinic to regain your time and your freedom. However, many new clinic owners experience burnout and exhaustion instead.

Why is this phenomenon so common? 

Because most clinic owners don’t start with a strategic business plan. Like any business, success relies heavily on a business plan with actionable goals. With our 25+ years of experience working in the private practice industry, we’ll guide you step-by-step on how to develop a strategic business plan tailored to new PT clinic owners.

The Importance of a Strategic Business Plan

The healthcare sector, especially private practices, thrives on predictability and stability. Without a structured business plan, PT clinics can easily get off course, chasing after every new idea or trend without a clear direction. This often results in wasted resources and exhausted owners.

As the owner of your PT practice, you should be focused on patient care experience and the clinic culture. In the beginning, many clinic owners make the mistake of managing the administrative side of their clinic themselves even though medical billing , credentialing and front desk management are often extremely time consuming to learn and execute correctly. That’s why the progressive PT clinic model outsources the day-to-day tasks whenever possible.

8 Steps to Build a Strategic Business Plan for Your Physical Therapy Clinic

1. defining your vision and mission statement.

When establishing your clinic, it’s essential to begin with a clear vision and mission statement that defines its core identity. Your vision should encapsulate where you see your clinic in the next 5, 10 or even 15 years, whether that’s in terms of its growth, the range of services offered, or its standing in the community. 

Concurrently, your mission statement provides a grounding foundation, detailing the reasons you embarked on this journey of starting a clinic (i.e. your “why”) and emphasizing the fundamental principles that will navigate its daily operations and culture. Together, these elements convey what you want your clinic to represent both now and in the future.

2. Conduct Local Research and Competitor Analysis

A comprehensive market analysis is crucial for the success of your clinic. To effectively cater to your patients, it’s important to identify your primary audience, taking into account local demographics. For example, if your clinic is located next to a college campus, you may want to focus marketing towards 18-25 year old students.

You will also need to analyze the competitive landscape. By examining other PT clinics in the area, you can gauge their strengths and weaknesses, allowing you to understand the landscape of services offered and the prevailing price points. This combined insight ensures that your clinic is not only patient-centric but also competitively positioned within the market.

3. Determine Services and Pricing

Informed by a comprehensive market analysis, it’s pivotal to identify the suite of services your clinic will offer. Clearly define the specific therapies and treatments you’ll specialize in, ensuring they align with the needs and preferences of your target audience.

As you craft your pricing strategy, consider MEG’s recommendation of ensuring that at least 20% of your services are cash-based . This progressive PT model is not just an innovative approach but a proactive step towards combating the decreased reimbursements that the industry is grappling with. 

The overarching goal of your pricing strategy should be to achieve a balance: it needs to be competitive within the marketplace while also guaranteeing profitability. Set prices that sufficiently cover your operational expenses and resonate with the prevailing market rates, allowing your clinic to maintain both its accessibility and fiscal health.

4. Build Your Operational Blueprint

In crafting the operational blueprint for your PT clinic, consider the logistics that form its backbone. In your blueprint, you’ll need to detail the necessary equipment and technological tools, from therapy equipment to software solutions for appointment scheduling and record-keeping. This is vital to ensuring smooth day-to-day operations. 

When considering your blueprint, it’s also essential to define the number of staff and clinician roles. How many therapists will you need? What will their responsibilities and expectations be? Will you have PT assistants or front desk staff?

In the progressive PT model, there’s a growing emphasis on streamlining operations and staffing. One way to achieve this is by outsourcing administrative tasks, such as using a virtual front desk or offloading billing responsibilities to a third party . This approach ensures that your clinic remains compliant with industry regulations and allows you to operate with peace of mind. 

5. Create a Marketing and Outreach Plan

Understanding your audience is the cornerstone of any successful marketing strategy. After pinpointing your target demographic, it’s vital to delve deeper and craft an ideal client persona. This persona should encompass not just their challenges or ailments but also their lifestyle. Do they play a sport or are they more sedentary? What kind of injuries do they experience? Which social media channels do they use most frequently? The more specific you are with your ideal client persona, the better your marketing strategy.  

But identifying your audience is just one facet; generating awareness is equally critical. Start by building a strong brand identity—this includes choosing a resonant clinic name, designing a clear website and adopting a consistent theme that aligns with your clinic’s mission and vision. 

From there, diversify your promotional strategies. Whether it’s through digital marketing campaigns or in-person outreach, create a plan that will resonate with your audience and forge a relationship with them. One of the best ways to open this channel of communication with your clients is by creating a 1-3 minute introductory video about your clinic which can be used on your homepage or in email communication. You can also partner with local doctors and host educational events so that your clinic gains recognition within your community.

6. Budget with a Strategic Financial Plan

Navigating the financial aspects of your clinic requires a different mindset than managing personal finances. It’s essential to desensitize yourself to the money, viewing it objectively to ensure the fiscal health and sustainability of your clinic. As you lay out the financial blueprint, begin by itemizing startup costs. This encompasses everything from initial licensing fees to equipment purchases and securing the perfect location. 

When you first start your clinic, you should forecast your revenue projections in three week increments and always factor in the potential seasonal variations that could affect patient turnout. Additionally, a critical milestone in any business venture is the break-even point. Dedicate time to calculate when you anticipate your clinic to shift from operating at a loss to generating a profit. This provides not just a financial but also a motivational benchmark, marking the transition from startup challenges to sustainable success.

7. Consider Potential Challenges and Solutions

Foreseeing potential challenges is an integral part of strategic planning for your clinic. Effective risk management entails identifying probable setbacks that your business might encounter. 

For instance, a new legislative change may introduce stricter licensing requirements for PT clinics or an increase in insurance paperwork. Alternatively, the sudden emergence of several new clinics in your vicinity can lead to heightened local competition, potentially diluting your patient base. 

For each potential hurdle, it’s imperative to have contingency plans in place. In the face of stricter licensing, for example, ensure you have resources dedicated to staying updated with changing regulations and that you allocate time and budget for potential additional training or certifications. If local competition spikes, a contingency plan could involve ramping up marketing efforts or introducing a differentiating technology like HRV or the NEUBIE . By proactively preparing for such scenarios, clinic owners can navigate these obstacles more effectively.

8. Develop Strategic Goals and Key Performance Indicators

Success in your PT clinic is tethered to a clear set of goals and the ability to track progress toward achieving them. An essential aspect of this is understanding the timeframe in which you’re setting these objectives: monthly targets, quarterly objectives and yearly goals.

Start with the end in mind. If you envision your clinic handling “15 evaluations per week” by the end of the year, work backwards from that vision. This might mean setting an initial goal of “5 evaluations per week” in the first few months and then ramping up to “10 evaluations per week” by mid-year. Each of these milestones becomes a clear, quantifiable target, giving your clinic a roadmap for growth. 

Every action, decision and strategy in your business plan should inherently drive towards achieving these targets. It’s essential that your staff doesn’t just know about these goals, but truly understands them. They need to see the bigger picture of where the clinic is headed, how their role fits into this vision, and the concrete steps needed to get there.

And this brings us to KPIs, or Key Performance Indicators. These are the measurable values that demonstrate how effectively your clinic is achieving key business objectives. By setting a working timeline of KPIs – from patient acquisition rates to retention percentages, or even customer satisfaction scores – you gain real-time insight into your clinic’s operations. This data-driven approach helps fine-tune strategies, identify potential pitfalls, and positions your clinic for the highest viability.

Remember, it’s not just about reaching your end goal; it’s about ensuring each step taken is intentional, measurable and in line with your overarching vision.

Set Your Clinic Up For Success with MEG Business

Starting your PT clinic with a well-structured business plan isn’t just a formula for financial success; it’s a blueprint for long-term satisfaction and reduced burnout. It gives direction, fosters growth and ensures that your passion for physical therapy translates into a thriving, resilient practice. Remember, as the adage goes: “Fail to plan, and you plan to fail.”

Need help setting up your strategic business plan? MEG Business has worked with hundreds of clinic owners to develop proven, successful strategies. Contact us today to get a free consultation .

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The Financial Success Guide for Physical Therapists

Introduction.

As a physical therapist in private practice for yourself, you’ve worked hard to build a solid reputation, a solid clientele and a solid practice. As you know, there are only so many hours each day. So how can you build and manage a practice and work hard to build a solid financial future as well? How do you make sure your physical therapy clinic business plan can work?

Unfortunately, if you’re not careful, all your hard work can still result in more loss than profit, more financial drain than gain; that’s why we’ve put together this article. This article is an overview of the basic tools and procedures that a private practice professional would use to maximize his or her economic well-being and quality of life.

This summary is distilled from decades of research and experience in the area of personal economics and finance and gives the reader a direct solution for handling any area of financial duress or improving one’s general financial condition.

You work hard to build a practice you can be proud of; however, taking care of your personal finances as well can become a full-time job! It doesn’t have to be-this guide can help!

In Part 1 , we discuss what we call the “barriers to prosperity.” In order to get an understanding of how to achieve financial prosperity, success, and abundance as a private practice owner, we first must understand and delineate exactly what we’re up against in our modern economy.

Part 2 focuses on the engine to your wealth: your clinic. Since it is (or should be) the largest and riskiest asset you own, it is imperative that you not only maximize the gross income of your physical therapy practice but also the gross profit. There are 8 major areas that determine the gross income and profit in a physical therapy clinic and we’ll cover those in detail.

Part 3 is called “Your Household is a Business” for one very good reason: it is! In much the same way you learn to gain greater control over your practice finances in chapter 2, you will learn to do the same for your household financial situation in this chapter.

Part 1 – The Barriers to Prosperity

The Barriers to Prosperity

Before starting any journey, it’s important to make sure the route you’re ready to travel is free of obstacles, debris, potholes, roadblocks and other assorted barriers to your progress.

Likewise, before we undertake this journey to create a more financially responsible, ultimately more successful you, it is important to identify the barriers to prosperity that, like potholes, promise to give you a bumpy ride if you don’t; a) spot them early on, and b) take great pains to avoid them as they approach.

To say that we are working harder and making less these days is, perhaps, the understatement of the year. Often we tend to blame this on some blanket excuse like “the economy,” but it is more than just one central barrier impeding our success. In fact, there are several factors that are working against us every day, whether we’re actually aware of them or not.

 So while the economy may be a prohibiting factor, so are other “barriers to your prosperity” like bad advice, taxes and even lack of education to name a few. Over the years we have identified, analyzed and catalogued nine common barriers, each of which we cover comprehensively in this chapter.

Much as potholes on a road trip mess with our shocks or detours send us off track, the nine barriers actively prevent us from achieving the success and abundance we seek for taking the risks associated with being private practice owners.

There is a continual flow of economic factors that will carry one downstream and over the waterfall unless one swims against the current. If you want to get upstream, then you are going to have to know something about the river and you’re going to have to know how to swim.

Let’s clarify exactly what’s briskly taking us downstream:

The 1st Barrier to Prosperity:

Lack of Education

It might sound like an insult, at first, to suggest that “lack of education” is a potential problem for you. After all, as a physical therapist you have been very well educated in your field of study and the different aspects of patient treatment. You are able to provide quality services as a result of the high level of technical training you’ve received during your career. You rightfully expect to be able to have a successful physical therapy clinic based on the quality of the work that you do. But, as you’ve no doubt experienced, delivering quality patient treatment is only part of the equation.

If you’re going into private practice there is another function that you have to know in addition to your field of expertise – how to run a small business. The problem is most of us were never taught how to run a business- not in our clinical studies, certainly not in our medical studies and, oftentimes, not even in our business studies (if we’ve even followed that course track). In fact, even if we have minored-or majored-in business we’re often unprepared come graduation day.

What about your education in personal finance over the years? Did you learn about money management in elementary or middle school? High school? College or grad school? No? The subject of personal economics is not taught in any educational curriculum unless you are training to be a financial planner. This is a glaring omission in your understanding of the subject and this translates into the financial condition of your household, whether acceptable or not.

The good news is it’s never too late to learn! Fortunately, education is readily available on how to function and operate as a successful practice owner. Books, courses, seminars, even software is available to help you run your business smoothly. Just as important, however, there is education that exists on the correct tools and techniques to actually build wealth safely.

The 2nd Barrier to Prosperity:

False Information

We all want to make the right choices when it comes to the financial decisions that affect our practices, our lives and particularly our bank accounts. In order to do that, we have to rely on certain information and what we believe to be factual in order to make correct decisions. But, who has the correct information? Bloomberg Television? Money Magazine? USA Today?

Or how about a financial advisor, accountant, next door neighbor, or brother-in-law? Unfortunately, there is WAY MORE incorrect information out there about your finances than there is correct information. The problem is that we often cannot distinguish between what is true and what is not.

How can you tell? Here’s the one “true” answer: the results !

What financial condition are you in right now? If you are having good results, then you are likely using correct information. If your results are less than optimum, then the information is incorrect. Believe it or not, that is the simplicity of the matter.

Part 2 – Prosperity in Your Practice

Prosperity in Your Practice- 2 Fundamental Metrics to Measure the Productivity and Profitability of Your Clinic

Is your practice prosperous? It’s a question we should be asking more often. The question is not: is your practice surviving? It’s not a matter of your practice breaking even. If you are only surviving and/or breaking even, you can be doing better. And if you are doing well, you can always do better.

Prosperity is a goal for all, but for many of us it may feel like an unreachable goal. This chapter addresses six simple things you can start measuring to ensure that your practice isn’t just surviving, but prospering.

You can’t manage what you don’t measure. When running a physical therapy office there are certain rules of-thumb, or metrics, one should be using to determine how well the practice is performing.

But before we dig into specific metrics regarding practice performance, we must look at how a practice should be operating if it was affluent and expanding and at the top of its class-the elite practice.

While we can certainly write a whole book answering that one question about practice prosperity, for the sake of simplicity we will look at the major areas that will make you or break you as far as gross income and profit is concerned.

This is commonly a weak area for most practitioners. Most practice owners only get involved with any marketing efforts when the patient visits plummet.

The elite practice:

• Would be visible to its public.
• Would have the staff PTs knowing exactly what to do to increase the patient visits when they are down.
• Enjoys abundant and increasing doctor referrals from a multitude of sources and the practice would not be dependent on any one referral source.
• Has a full-time marketing person implementing proven and workable marketing programs for new patients.
• Has a representative from the clinic visiting no less than three doctors a week.
• Maintains a database of both doctors and patients and regular mailings would be sent to the entire database.
• Would have an increasing internet presence through the use of interactive websites, email marketing programs, social media and patient reviews.

Patient Treatment

When marketing does work and new patients come in the door, it is not uncommon for current patients to be seen less often and many discharge themselves before the treatment program is complete. Anything that can be done to improve patient compliance will increase income.

• Would have superlative patient care.
• Has very low cancellations and almost all patients would see their treatment plan through to completion, happily paying deductibles and co-pays.
• Has staff PTs using time to improve their technical skills or promoting the practice when cancellations do occur.
• Is objectively measuring each clinician’s technical performance, holding it to very high standards.
• Has staff PTs billing the appropriate number of units per visit.
• Would not suffer in the quality of treatment if the clinic owner was absent since the workload would be competently handled by all staff PTs as a group. ü Experiences excellent and consistent patient results.

The Top Two Fundamental Metrics

You were never trained in PT school how to run a company or understand the concept of Return on Investment (ROI); these six fundamentals will bridge that gap to make you successful and prosperous.

Now let’s take a look at some of the metrics that will measure our ascent to the elite status of private practices:

Fundamental Number 1:

You Should be Taking Home at Least 30% of Your Gross Income.

The main financial purpose of private practice is to make a profit without the “glass ceiling” of a corporate overseer giving you pre-set limits. You are, in fact, an entrepreneur and should be thinking like one.

Embrace that entrepreneurial spirit!

To gauge your level of prosperity, a well-run PT office should permit the owners to take home about one-third of the gross income on an annual basis. That means if you are generating $600,000 in gross income, then you should ultimately bring home more than $200,000 in salary and profits.

This may seem high. But it’s actually not. Still, the average household is taking home much less than that. Why? The average private practice is not utilizing a proven business management system as well as having a business plan. In the typical scenario, we build and grow our practices and everything seems fine until we suddenly notice a drop-off or leveling in profits. Our expansion hits a wall and rather than doing the standard actions with personnel, marketing, financial management, etc., we look for “tips and tricks” from our peers to help instead of a coordinated system. These “emergency” measures are implemented to make more money until the next “emergency” appears-and on it goes for a lackluster career in private practice.

This haphazard approach ends up costing much more in lost profits than it ever would to pay the consultant fees. If the consultant was a good one, the return on investment would be much more than the cost anyway- and this would be most noticeable in your bottom line.

For example, let’s say you paid a consultant $30,000 for consulting you on proven practice management techniques. Over one year, you experienced an additional $60,000 in gross income. That is a 100% profit in one year to your practice and will repeat itself year after year from now on. There is no other investment that gets those kinds of results. This is the number one reason why practice owners do not reach their potential.

Fundamental Number 2:

You Should Target a 5% Cancellation Rate or Better-This is the Easiest Way to Recover Lost Income.

The greatest area of loss for a PT practice is at the front desk. If you only get paid when the patient keeps the appointment, then tracking and improving the number of kept appointments each week would obviously be the area you’ll want to address first.

Take a look at the amount of patients who cancel. How many are you averaging per week? Take the number of kept appointments and divide it by the number of scheduled appointments and subtract that answer from 1.00-this gives you the weekly cancellation percentage; something you desperately need to monitor if you’re “bleeding money” at the front desk. If this number is high, then you will have trouble being profitable, let alone prosperous.

For example, let’s say that you book 200 patient visits a week and you have a cancellation rate of 15%. That’s 30 visits a week that consumed time (i.e. you couldn’t put any paying patients in those time slots because they were already filled), but did not produce income!

If your reimbursement rate averages $85 a visit, that’s $2,550 per week-or $132,600 per year-in lost revenue! If you could recapture HALF of that loss, then you would generate an extra $66,300 per year into the practice.

The fix? Simple. Start with a program to consistently remind patients of their future appointments. Then hire someone with the know-how who can help you implement a standard program at the front desk to resolve the problem once and for all.

Part 3 – Your Household is a Business

Your Household is a Business

Businesses exist for one primary purpose: to provide a product or service to someone else in exchange for the money it needs to survive. No matter the business, the industry or the niche market you serve, a business is a business is a business. From Microsoft to the Red Cross, from Pier 1 Imports to the Catholic Church, ALL businesses exist to provide a product or service to someone else in exchange for the money it needs to survive .

Just look at your physical therapy business. You provide treatment to patients in your practice in exchange for money and goodwill and you have a whole system set up to efficiently deliver those services in a way that ensures nothing interferes with the money flow. The practice must be profitable to continue to exist and provide service.

Too Few Practitioners Treat Their Home Like a Business

Your household is really no different from your clinic. Think about it: your household has income, expenses, assets and liabilities-just like any other business. It has a tax ID number, otherwise known as your social security number. It has a “staff” (anyone who lives there) that provides products or services (your jobs).

While they may reside in the corner bedroom instead of the corner office, the household “executives”-you, or you and your spouse-ultimately own all of the assets and debts of the household including all or part of the professional practice, the real estate, retirement accounts, bank accounts and everything else.

All of the profits and losses flow up from all of these assets into the household, and every year it provides an accounting of all of its economic activity in the form of an income tax return. The government views your household as a business; you should, too. In fact, the sooner you treat your home like a business, one with the intention to make a profit, the more quickly you will see better results from your financial planning activities.

CFO: Your Name Goes Here

Every business needs a Chief Financial Officer, the CFO. This is the person who is ultimately responsible for the financial condition of the business, whether good, bad or ugly. This must be done by one person, never by committee, because compromised agreement will always be financially disastrous for a company. There’s a reason it’s called “death by committee” (has a committee ever decided anything?).

Instead, every household must have only one person who is ultimately responsible for the economic condition of the family unit. He or she will have the final decision on how the family’s money will be managed and spent, even if most decisions are made jointly. And that person must have an understanding of how finance and economics works, or the group will destroy itself under debt and waste.

Many CFOs have no problem working double-time to understand the finances that surround their business model, and yet act irrationally-even irresponsibly- concerning their household finances. If you are finding yourself lacking in your household CFO duties, bone up; get informed, get educated, read books, take online classes or join local seminars until you are confident you can meet the job requirements!

The Profitable Household is a Happy Household

Now, it’s one thing to run your household like a business but the real question becomes: Are you running your household business profitably ? What is the profit margin of the household? In other words, what is the percentage of the income that is not spent on expenses? How much is saved in accounts that can be accessed at a future point in time? 10%? 20%? 30%?

If your practice is operating at a 20% profit margin (let’s say $500,000 gross income with $100,000 net income), then your household should have a profit margin as well (for example, $20,000 saved from $100,000 take home income) at the very least. Ideally, it actually should be much, much higher than that, but we’ll start here.

If it’s not there yet, take steps to get it there. For instance, if you’re only saving $5,000 per year but still making 100 grand, on what are you spending the rest?

Where are you “leaking money,” as they say?

One of the best ways to be a more effective CFO is not only making more money but also finding ways to get more value out of the money you spend.

The House Where Profit Lives

Before determining how wealthy you are, you have to define what “profit” means to you. Yes, we all want to spend less than we make, but while your household has many similarities to your business, there are critical differences.

Take a look at your household finances right now. How would you describe your current financial situation?:

• Are you affluent?
• Middle class?
• Barely breaking even?
• Drowning in debt?

A good perspective is to ask yourself, “Would I run my household the way I currently do if the intent was to make a profit?” And what is the profit? Remember, when it comes to your household, profit isn’t always listed in dollars and cents.

Educated children, a nice home, time to pursue your dreams, comfortable lifestyle, plenty of money set aside as a cushion for life’s uncertainties… these are all profitable returns on your investment.

Parting Words about Your Household; The Parent Company

Our clients are often perplexed when we ask them to treat their home like a business, and their reaction is certainly understandable. For years we have been taught to keep “business” and “personal” separate.

But as our work- and home-lives continue to blend and merge, with more hours spent on the job than at home and, increasingly, many business owners treating the den or spare bedroom as a “home office,” it only makes sense to begin treating the home like a business.

When it comes to your household finances, in particular, of course you’ll agree that treating your home like a business only makes sense; it is the parent company into which all profits from your investments flow. As humans we like to keep things separate; work and play, church and state, household expenses and business expenses. But now more than ever it is vital that you begin to address your household income with the same veracity, rationale and professionalism as you do your business income.

The surest way to offset business gain is by losses at home. The goal is to strive for “balance” in all things, and your household and business finances are no different. Only when your business and home financial spreadsheets “balance” will both be able to flourish.

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Sports Therapy Business Plan

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Cyclist Repair Center

Executive summary executive summary is a brief introduction to your business plan. it describes your business, the problem that it solves, your target market, and financial highlights.">.

Cyclist Repair Center (CRC) is a cycling specific sports clinic serving the Boulder, Colorado community. Cyclist Repair Center has been founded by Arthur Mendosa-Cadiz. Arthur created the center as a Colorado registered corporation in January 2004. Cyclist Repair Center is expected to quickly gain market penetration through a focused strategy, doing what they do best, serving cyclists.

The Market Cyclist Repair Center has identified two distinct customer segments which they will target. The first segment is the competitive cyclist. Within this segment there are two subgroups, those that are professionals and those that are experts. There are a total of 4,500 potential competitive cyclists with an annual growth rate of 4%. This group is seeking therapeutic repair/recovery services or training services to make them more competitive in their races.

The second group is composed of recreational cyclists. This group has 32,090 potential customers and a 5% growth rate. These cyclists may race occassionally, but generally they are just people with a passion/enjoyment for cycling. The demographics for the recreational cyclist indicate a more affluent group relative to the competitive cyclist since cycling is not one of the more economically rewarding professions.

Cyclist Repair Center has chosen to locate their center in Boulder, CO. Boulder is renowned as a high mountain sports town and cycling is one of its favorite sports. Boulder offers hundreds of miles of road cycling directly out of town. As for mountain biking, there are too many trails to count, all within a few minutes drive or ride from town. Recognizing the importance of Boulder relative to cycling, the United States Cycling Federation has located their olympic training center here.

Services Cyclist Repair Center offers a wide range of cycling specific sports medicine and training services that range from the proactive to the reactive. Offered services include:

• Sports massage- for greater comfort as well faster recovery.
• Personal training- for weight loss, increased speed, or increased endurance.
• Bike fit- for increased comfort, power, or speed.
• Fitness assessment- includes such tests as: VO2 max, lactate threshold, aerobic threshold, anaerobic threshold.
• Cycling related injuries- diagnosis and treatment by physicians and physical therapists.

Cyclist Repair Center will have on staff a USCF Category I or II racer turned personal coach/trainer, a sports medicine physician, massage therapists, physical therapists, as well as a wide range of cycling specific equipment to assist these service providers.

Management Cyclist Repair Center has been founded and will be led by Arthur Mendosa-Cadiz. Arthur has been immersed in cycling for years. Starting after undergraduate schooling, Arthur was a competitive cyclist for several years while working in the bicycle industry. These years racing provided him with tremendous insight regarding cycling and its effects on the cyclist’s body. Arthur then earned a Master’s in Sports Physical Therapy and practiced physical therapy for several years. Arthur will be able to leverage his passion and experience for bicycles, as well as his empirical experience as a physical therapist to offer Boulder a wonderful cycling service.

By locating in Boulder, a cycling town, and offering focused services targeting different types of cyclist, Cyclist Repair Center will quickly generate customers and revenue. Revenue for years two and three is $369,000 and $443,000 respectively.

1.1 Objectives

• To reach profitability by the end of year two.
• Generate revenue exceeding $400,000 by year three.
• Achieve a net profit of at least 10% by year three.

1.2 Mission

The Cyclist Repair Center’s mission is to provide clients with individualized, cycling specific assessment, diagnosis, treatment, and training programs. Clients will receive national class service with an emphasis on education, empowering each athlete.

1.3 Keys to Success

• Maintain our focus on cycling specific injuries and training.
• Offer a wide range of services meeting all of the cyclist’s needs.
• Design and employ strict financial controls, a requisite for an efficiently run organization.

Company Summary company overview ) is an overview of the most important points about your company—your history, management team, location, mission statement and legal structure.">

Cyclist Repair Center has been formed as a Colorado corporation. The company was formed in January 2004 by Arthur Mendosa-Cadiz.

2.1 Company Ownership

Cyclist Repair Center is a privately held corporation. The majority shareholder is Arthur Mendosa-Cadiz. Equity in the corporation has been issued to two investors.

2.2 Start-up Summary

Cyclist Repair Center will require the following equipment and services at start up:

• Professional service provider fees including legal fees and accounting fees (to set up QuickBooks Pro).
• Four computer terminals each with Microsoft Office and one computer with QuickBooks Pro. A central file server. The office will be networked and have a broadband Internet connection.
• Four examination beds.
• Exercise bicycle.
• Three CompuTrainers with two computers.
• Portable ultrasound unit.
• Various massage equipment.
• Various medical examining tools.
• Telephone system.

Cyclist Repair Center offers a wide range of cycling specific proactive and reactive solutions for both the competitive and recreation athlete. Specific services include:

• Sports massage- the massages can be either full body or cycling specific. Massages are valuable for recovery, greater flexibility, and increased comfort.
• Personal training – this service will fully customize a training program for a cyclist. The trainers are very good at addressing the needs of the cyclist whether it is for weight loss, increase in cardiovascular efficiency, increase in muscle strength, increase in comfort, or race specific training.
• Bike fit/ergonomic services – Cyclists will bring in their bicycles and shoes for this assessment. Posture/positioning on the bicycle, bicycle sizing, pedal spin cycle analysis, strength and flexibility will be evaluated.
• Fitness evaluation – the following tests are offered:
• Lactate threshold
• Aerobic threshold
• Anaerobic threshold
• Wattage output
• Cycling related injuries – this includes assessment, diagnosis, treatment, rehabilitation. A physician and physical therapists are available for these services.

Cyclist Repair Center accepts most major insurance plans for therapy and reactive services. Other more proactive services like training and massage are often not accepted for insurance, but this is a function of the insurance plan, not the unwillingness of Cyclist Repair Center to accept insurance.

Market Analysis Summary how to do a market analysis for your business plan.">

Cyclist Repair Center has identified two distinct market segments which they will target: competitive and recreational cyclists. The two different segments will be attending Cyclist Repair Center for distinct reasons and therefore will be targeted specifically. The sports clinic industry typically is not sports specific, a facility generally does not focus on a single sport.

4.1 Market Segmentation

Cyclist Repair Center has chosen to target two distinct customer segments; competitive cyclists and recreational cyclists.

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• Some demographics of Boulder based professional cyclists :
• ages 23-33.
• educational level- 67% have an undergraduate degree, 8% have a graduate degree.
• individual income range is $24,000- $50,000. This range does not include other sources of income such as product sponsorship/endorsement.
• the average number of bicycles owned by the professional is six.
• the average length of a professional career is six years.
• 17% of the professionals have trained with the olympic national team.
• 77% of the cyclists are road cyclists, 12% are track cyclists, the remaining percentage are both.
• Demographic information for expert level competitive cyclists :
• ages 26-54.
• educational level- 75% have an undergraduate degree, 26% have a graduate degree.
• individual median income is $55,000.
• the average number of bicycles owned is 3.5.

Recreational Cyclists – these cyclists enjoy cycling, ride a lot, but are seeking services to make them faster in general or more comfortable when they ride, not to be more competitive. They may also be seeking clinic services to address a cycling specific problem that they have.

• Demographic data :
• ages- 29-62.
• educational level- 79% have an undergraduate degree, 28% have a graduate degree.
• individual median income is $62,000.
• the average number of bicycles is 4.

4.2 Target Market Segment Strategy

Cyclist Repair Center has identified and targeted these two segments because they are the most likely cyclists who would be in need of a wide range of cycling specific therapeutic and training services. The competitive cyclists are in need of these services to remain competitive. Cycling over the last decade or so has become increasingly more competitive. A larger degree of this increased competition is the development of junior programs which seek to introduce cycling to younger children. As cycling completions have beguin to introduce drug controls and testing over the last few years, cyclists have begun to compete on a more level playing field.

At the recreational level there has been a surge in participation over the last decade as well. This surge is due in part to American’s recent focus on health and fitness, to a large degree a reaction to the obesity epidemic. Another driver of increased participation is the low impact nature of cycling. Many athletes have moved from other sports such as running, tennis, etc. to cycling as a form of excellent cardiovascular and aerobic fitness that has a low impact on the body.

The two different segments, competitive cyclists and recreational cyclists participate for different reasons, additionally their level of participation is different. This makes the decision to target each one separately intuitive.

4.3 Service Business Analysis

Cyclist Repair Center participates within the sports medicine/therapy industry. The industry participants are characterized by clinics that specialize in sports related injuries. It is very rare for a clinic to specialize on one specific sport. Sports clinics are a huge industry, especially in a sports town such as Boulder where a large percentage of the population lives in Boulder because of its incredible access to various individual sports.

On a national level the sports medicine/therapy generates over $576 million in revenue. Approximately 17% of this revenue is from professional team (primarily) sports with the remaining percentage coming from individual athletes. Revenue from the nonprofessional side comes primarily from reactive treatments, meaning the assessment, diagnosis, and treatment of known problems. A smaller percentage of revenue comes from proactive activities like increasing strength, speed, and cardiovascular efficiency.

On a national level, it is not uncommon for sports medicine clinics to also offer the following services:

• Chiropractic work.
• Podiatry services.
• Orthopedic surgical repair.

4.3.1 Competition and Buying Patterns

Cyclist Repair Center faces competition from several different sources:

• University of Colorado (Boulder) Sports Medicine Center – This is a large clinic that is based on campus but is available to all athletes. Because of its connection with the University, this is an educational research/training center which means many of the service providers are shadowed by students, or have students assisting clients.
• USA Cycling Olympic Training Center- This facility is only available to invited cyclists who are participating on the team or in Olympic trials.
• Boulder Sports Center – this is a large sports clinic that specializes in orthopedic procedures.
• Colorado Mountain Sports Facility – This facility has a wide range of available services with a concentration on high altitude training, offering several large training rooms with oxygen concentrations set up to simulate 12,000 feet. In addition to the training rooms, there are several “high altitude” sleeping rooms for athletes. The concentration on high altitude training is based on the theory that there is value in having the athlete train and even sleep in environments of decreased oxygen, forcing the body to become more efficient with the available oxygen concentration.

Strategy and Implementation Summary

Cyclist Repair Center intends to leverage their competitive edge of cycling specific services. This should be effective because of its location in Boulder, a true cycling town. Cyclist Repair Center’s marketing strategy will seek to develop an awareness of the cycling specific services offered to both competitive and recreational cyclists. The sales strategy has been designed to convert clients of one service into recipients of multiple services provided by Cyclist Repair Center.

5.1 Milestones

Cyclist Repair Center has established several milestones for the organization as a whole as well as for departments within the organization. The milestones have been chosen as identifiable and achievable objectives. The following table provides the time frames needed to complete each milestone.

5.2 Competitive Edge

Cyclist Repair Center’s competitive edge is their specialization on one sport, cycling. No other facility in Boulder serves only cyclists, all are general sports clinics. This is of significant value to Cyclist Repair Center’s clients. All of Cyclist Repair Center’s staff are cycling enthusiasts. This is quite important because it provides each service provider with a unique and instrumental cycling perspective. This is valuable to the clients because it provides insight to the providers of the problems the clients may be facing. Additionally, as cycling enthusiasts, the staff’s excitement regarding cycling is contagious and apparent.

5.3 Marketing Strategy

Cyclist Repair Center’s marketing strategy has been designed to increase the awareness of Cyclist Repair Center’s cycling specific services amongst the Boulder community. Several different efforts will be undertaken to generate brand awareness.

• Sponsorship – This effort takes several forms.
• The first form of sponsorship is for local tours and races. This will be quite helpful in developing visibility for the organization to a very specific and targeted crowd.
• Sponsorship will also take the form of specific athletes. Chosen athletes will receive free services from Cyclist Repair Center. In return for the sponsorship, Cyclist Repair Center gets visibility on the athlete’s uniform and the athlete is asked to talk up the positive benefits that he/she has received.
• Advertisements – The advertisements will also take several forms.
• The most broad is an advertisement in the Yellow Pages. The Yellow Pages are an indispensible resource for individuals who are looking for service providers.
• Advertisements will also be placed in several cycling specific and local Boulder journals. These advertisements will again be targeted toward the cycling community.

5.4 Sales Strategy

The sales strategy will be piggybacked on the marketing strategy. The marketing strategy will be used to generate visibility for the organization while the sales strategy will be used to generate increased sales. The most significant way (relative to increased revenue) is to convert current clients who are using only one service from Cyclist Repair Center to using multiple services. This may take the form of a client who came in for sports massage services who then becomes a user of the training services. This will be done through “upselling” by the various service providers as well as written information dissemination. Economic incentives in the form of discounts will be used to convert current single service clients into multi service users.

5.4.1 Sales Forecast

Cyclist Repair Center has developed a conservative sales forecast as a means of increasing the likelihood of achieving the sales goals. This also will assist Cyclist Repair Center in its relationship with investors who will want the sales goals to be met. If the sales forecast was too aggressive then the investors are likely to be disappointed. Sales will grow incrementally. As a start-up organization, it is anticipated that the first year will be relatively slow as the organization develops awareness and brand equity. Year one to two sales are expected to have the largest increase with the growth rate decreasing a bit from year two to year three.

Web Plan Summary

A website will be developed for Cyclist Repair Center as an efficient source of information dissemination. The site provide Internet surfers with a wealth of information regarding the various services that Cyclist Repair Center offers. Also detailed on the site are bios of the different staff members, displaying the years of cycling specific experience. For questions that are not answered on the site, viewers will be encouraged to call the center and inquire. The goal of the website is to impress upon the reader that Cyclist Repair Center is the premier cycling specific sports clinic addressing any need a competitive or recreational cyclist may have.

6.1 Website Marketing Strategy

Cyclist Repair Center will employ two types of marketing for the website. The first is submission to various search engines. This will be quite important as there are many people that use search engines to locate information. If someone is unfamiliar with Cyclist Repair Center and their services, all they need to do is is type in a few key words into a search engine and they are brought to Cyclist Repair Center’s site.

Another source of marketing will be inclusion of Cyclist Repair Center’s URL on all printed material. This will direct current or prospective customers to check out the site for additional information.

6.2 Development Requirements

A computer science student has been informally contacted and has agreed to be responsible for the design and development of the site. The time frame for development is six to eight weeks.

Management Summary management summary will include information about who's on your team and why they're the right people for the job, as well as your future hiring plans.">

Arthur Mendosa-Cadiz comes from a cycling background with an educational emphasis in sports physical therapy. Arthur received his undergraduate degree in philosophy from Colorado College. After graduation he moved to Boulder and worked in a bicycle shop to support his cycling habit. This habit took the form of both road and mountain bike racing. On the road Arthur was a Category II racer, competing every other week. When he was not competing on the road Arthur raced mountain bikes in the pro/expert class. Arthur spent four years racing. This provided Arthur with incredible insight to cycling and the needs of a cyclist.

Recognizing that he could not sustain his racing throughout his life, at least not at this intensity, Arthur decided to go back to school to provide himself with skills for another profession. Wanting to remain within the sport industry, Arthur entered the University of Colorado’s Master of Sport Physical Therapy. This program was for two years and Arthur would be able to practice sports physical therapy when he was done.

This is exactly what he did, he practiced physical therapy for six years at a large clinic. While Arthur found this rewarding, the constant interaction with clients and assisting them with their sport, something was lacking. At this point Arthur began to contemplate a business venture that would leverage his existing skills of physical therapy, allowing him to focus on cycling, his passion. Arthur spent a total of a year in contemplation and writing a business plan. When Arthur began to show the plan around looking for investors, he found them reasonably quick. He was told that they were interested because they thought Boulder had a wonderful market and that Arthur was the right person to execute on the plan, he had the passion and skills to make it work.

7.1 Personnel Plan

The following personnel will be required:

• Arthur- business development, physical therapy, cycling trainer, marketing, sales, some accounting and finance.
• Physician- part time physician that comes in as needed for diagnosis and treatment.
• Massage therapists (2)
• Physical therapists (2)
• Coach/trainer
• Receptionist
• Accounting clerk/receptionist

Financial Plan investor-ready personnel plan .">

The following sections outline important financial information.

8.1 Important Assumptions

The following table details important financial assumptions.

8.2 Break-even Analysis

The Break-even Analysis is shown below.

8.3 Projected Profit and Loss

The following table and charts illustrate the projected profit and loss.

8.4 Projected Cash Flow

The following chart and table show the projected cash flow.

8.5 Projected Balance Sheet

The following table presents the projected balance sheet.

8.6 Business Ratios

The following table offers many business ratios specific to this business. The U.S. Standard Industrial Classifications (SIC) currently classifies sports therapy and training clinics as: Offices of health practitioners, nec. – 8049.9900. The industry profile ratios are shown for comparison.

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Savvino-storozhevsky monastery and museum.

Zvenigorod's most famous sight is the Savvino-Storozhevsky Monastery, which was founded in 1398 by the monk Savva from the Troitse-Sergieva Lavra, at the invitation and with the support of Prince Yury Dmitrievich of Zvenigorod. Savva was later canonised as St Sabbas (Savva) of Storozhev. The monastery late flourished under the reign of Tsar Alexis, who chose the monastery as his family church and often went on pilgrimage there and made lots of donations to it. Most of the monastery’s buildings date from this time. The monastery is heavily fortified with thick walls and six towers, the most impressive of which is the Krasny Tower which also serves as the eastern entrance. The monastery was closed in 1918 and only reopened in 1995. In 1998 Patriarch Alexius II took part in a service to return the relics of St Sabbas to the monastery. Today the monastery has the status of a stauropegic monastery, which is second in status to a lavra. In addition to being a working monastery, it also holds the Zvenigorod Historical, Architectural and Art Museum.

Belfry and Neighbouring Churches

Located near the main entrance is the monastery's belfry which is perhaps the calling card of the monastery due to its uniqueness. It was built in the 1650s and the St Sergius of Radonezh’s Church was opened on the middle tier in the mid-17th century, although it was originally dedicated to the Trinity. The belfry's 35-tonne Great Bladgovestny Bell fell in 1941 and was only restored and returned in 2003. Attached to the belfry is a large refectory and the Transfiguration Church, both of which were built on the orders of Tsar Alexis in the 1650s.  

To the left of the belfry is another, smaller, refectory which is attached to the Trinity Gate-Church, which was also constructed in the 1650s on the orders of Tsar Alexis who made it his own family church. The church is elaborately decorated with colourful trims and underneath the archway is a beautiful 19th century fresco.

Nativity of Virgin Mary Cathedral

The Nativity of Virgin Mary Cathedral is the oldest building in the monastery and among the oldest buildings in the Moscow Region. It was built between 1404 and 1405 during the lifetime of St Sabbas and using the funds of Prince Yury of Zvenigorod. The white-stone cathedral is a standard four-pillar design with a single golden dome. After the death of St Sabbas he was interred in the cathedral and a new altar dedicated to him was added.

Under the reign of Tsar Alexis the cathedral was decorated with frescoes by Stepan Ryazanets, some of which remain today. Tsar Alexis also presented the cathedral with a five-tier iconostasis, the top row of icons have been preserved.

Tsaritsa's Chambers

The Nativity of Virgin Mary Cathedral is located between the Tsaritsa's Chambers of the left and the Palace of Tsar Alexis on the right. The Tsaritsa's Chambers were built in the mid-17th century for the wife of Tsar Alexey - Tsaritsa Maria Ilinichna Miloskavskaya. The design of the building is influenced by the ancient Russian architectural style. Is prettier than the Tsar's chambers opposite, being red in colour with elaborately decorated window frames and entrance.

At present the Tsaritsa's Chambers houses the Zvenigorod Historical, Architectural and Art Museum. Among its displays is an accurate recreation of the interior of a noble lady's chambers including furniture, decorations and a decorated tiled oven, and an exhibition on the history of Zvenigorod and the monastery.

Palace of Tsar Alexis

The Palace of Tsar Alexis was built in the 1650s and is now one of the best surviving examples of non-religious architecture of that era. It was built especially for Tsar Alexis who often visited the monastery on religious pilgrimages. Its most striking feature is its pretty row of nine chimney spouts which resemble towers.

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A prescription cannabidiol (CBD) oil is considered an effective anti-seizure medication. However, further research is needed to determine CBD 's other benefits and safety.

CBD is a chemical found in marijuana. CBD doesn't contain tetrahydrocannabinol (THC), the psychoactive ingredient found in marijuana that produces a high. The usual CBD formulation is oil, but CBD is also sold as an extract, a vaporized liquid and an oil-based capsule. Food, drinks and beauty products are among the many CBD -infused products available online.

Currently, the only CBD product approved by the Food and Drug Administration is a prescription oil called Epidiolex. It's approved to treat two types of epilepsy. Aside from Epidiolex, state laws on the use of CBD vary. While CBD is being studied as a treatment for a wide range of conditions, including Parkinson's disease, schizophrenia, diabetes, multiple sclerosis and anxiety, research supporting the drug's benefits is still limited.

CBD use also carries some risks. Though it's often well-tolerated, CBD can cause side effects, such as dry mouth, diarrhea, reduced appetite, drowsiness and fatigue. CBD can also interact with other medications you're taking, such as blood thinners.

Another cause for concern is the unreliability of the purity and dosage of CBD in products. A recent study of 84 CBD products bought online showed that more than a quarter of the products contained less CBD than labeled. In addition, THC was found in 18 products.

If you plan to use products containing CBD , talk to your doctor.

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• Miller B. Labeling accuracy of cannabidiol extracts sold online. JAMA. 2017;318:1708.
• FDA approves first drug compromised of an active ingredient derived from marijuana to treat rare, severe forms of epilepsy. U.S. Food and Drug Administration. https://www.fda.gov/newsevents/newsroom/pressannouncements/ucm611046.htm. Accessed Nov. 20, 2018.
• State medical marijuana laws. National Conference of State Legislatures. http://www.ncsl.org/research/health/state-medical-marijuana-laws.aspx#2. Accessed Nov. 27, 2018.
• Devinsky O, et al. Effect of cannabidiol on drop seizures in the Lennox-Gastaut Syndrome. The New England Journal of Medicine. 2018;378:1888.
• Cannabidiol. Natural Medicines. https://naturalmedicines.therapeuticresearch.com. Accessed Nov. 5, 2018.
• Cannabidiol. Facts & Comparisons eAnswers. http://www.wolterskluwercdi.com/facts-comparisons-online/. Accessed Nov. 5, 2018.
• Portenoy RK, et al. Cancer pain management: Adjuvant analgesics (coanalgesics). https://www.uptodate.com/contents/search. Accessed Nov. 14, 2018.

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Gagarin Cup Preview: Atlant vs. Salavat Yulaev

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Gagarin cup (khl) finals:  atlant moscow oblast vs. salavat yulaev ufa.

Much like the Elitserien Finals, we have a bit of an offense vs. defense match-up in this league Final.  While Ufa let their star top line of Alexander Radulov, Patrick Thoresen and Igor Grigorenko loose on the KHL's Western Conference, Mytischi played a more conservative style, relying on veterans such as former NHLers Jan Bulis, Oleg Petrov, and Jaroslav Obsut.  Just reaching the Finals is a testament to Atlant's disciplined style of play, as they had to knock off much more high profile teams from Yaroslavl and St. Petersburg to do so.  But while they did finish 8th in the league in points, they haven't seen the likes of Ufa, who finished 2nd. 

This series will be a challenge for the underdog, because unlike some of the other KHL teams, Ufa's top players are generally younger and in their prime.  Only Proshkin amongst regular blueliners is over 30, with the work being shared by Kirill Koltsov (28), Andrei Kuteikin (26), Miroslav Blatak (28), Maxim Kondratiev (28) and Dmitri Kalinin (30).  Oleg Tverdovsky hasn't played a lot in the playoffs to date.  Up front, while led by a fairly young top line (24-27), Ufa does have a lot of veterans in support roles:  Vyacheslav Kozlov , Viktor Kozlov , Vladimir Antipov, Sergei Zinovyev and Petr Schastlivy are all over 30.  In fact, the names of all their forwards are familiar to international and NHL fans:  Robert Nilsson , Alexander Svitov, Oleg Saprykin and Jakub Klepis round out the group, all former NHL players.

For Atlant, their veteran roster, with only one of their top six D under the age of 30 (and no top forwards under 30, either), this might be their one shot at a championship.  The team has never won either a Russian Superleague title or the Gagarin Cup, and for players like former NHLer Oleg Petrov, this is probably the last shot at the KHL's top prize.  The team got three extra days rest by winning their Conference Final in six games, and they probably needed to use it.  Atlant does have younger regulars on their roster, but they generally only play a few shifts per game, if that. 

The low event style of game for Atlant probably suits them well, but I don't know how they can manage to keep up against Ufa's speed, skill, and depth.  There is no advantage to be seen in goal, with Erik Ersberg and Konstantin Barulin posting almost identical numbers, and even in terms of recent playoff experience Ufa has them beat.  Luckily for Atlant, Ufa isn't that far away from the Moscow region, so travel shouldn't play a major role. 

I'm predicting that Ufa, winners of the last Superleague title back in 2008, will become the second team to win the Gagarin Cup, and will prevail in five games.  They have a seriously well built team that would honestly compete in the NHL.  They represent the potential of the league, while Atlant represents closer to the reality, as a team full of players who played themselves out of the NHL. 

• Atlant @ Ufa, Friday Apr 8 (3:00 PM CET/10:00 PM EST)
• Atlant @ Ufa, Sunday Apr 10 (1:00 PM CET/8:00 AM EST)
• Ufa @ Atlant, Tuesday Apr 12 (5:30 PM CET/12:30 PM EST)
• Ufa @ Atlant, Thursday Apr 14 (5:30 PM CET/12:30 PM EST)

Games 5-7 are as yet unscheduled, but every second day is the KHL standard, so expect Game 5 to be on Saturday, like an early start. 

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635th Anti-Aircraft Missile Regiment

635-й зенитно-ракетный полк

Military Unit: 86646

Activated 1953 in Stepanshchino, Moscow Oblast - initially as the 1945th Anti-Aircraft Artillery Regiment for Special Use and from 1955 as the 635th Anti-Aircraft Missile Regiment for Special Use.

1953 to 1984 equipped with 60 S-25 (SA-1) launchers:

• Launch area: 55 15 43N, 38 32 13E (US designation: Moscow SAM site E14-1)
• Support area: 55 16 50N, 38 32 28E
• Guidance area: 55 16 31N, 38 30 38E

1984 converted to the S-300PT (SA-10) with three independent battalions:

• 1st independent Anti-Aircraft Missile Battalion (Bessonovo, Moscow Oblast) - 55 09 34N, 38 22 26E
• 2nd independent Anti-Aircraft Missile Battalion and HQ (Stepanshchino, Moscow Oblast) - 55 15 31N, 38 32 23E
• 3rd independent Anti-Aircraft Missile Battalion (Shcherbovo, Moscow Oblast) - 55 22 32N, 38 43 33E

Disbanded 1.5.98.

Subordination:

• 1st Special Air Defence Corps , 1953 - 1.6.88
• 86th Air Defence Division , 1.6.88 - 1.10.94
• 86th Air Defence Brigade , 1.10.94 - 1.10.95
• 86th Air Defence Division , 1.10.95 - 1.5.98