Q:

Dr. Joel,

Continued thanks for your wonderful information.  I have one 
question regarding market analysis prior to opening up a clinic.  I 
have the opportunity to receive financially relative demographic 
information on the area I am interested in from a friend.  My 
question is:  Are there any specific financial indicators to look at 
that relate closely (historically) to people that use chiropractic 
services?  In other words, what type of information should I look for 
when researching an area?  For example, I can get information on 
things such as disposable income per area to how much people spend 
on dog food, etc.  Any input would be greatly appreciated.   Thank you 
very much.


A:

In one breath using scientific mathematical calculations will 
provide you with some raw data but the best indicator is gut feeling. 
As you know .. wealthy folks are not our best customers and is the 
very poor.  Regular folks are the best patients. Rather than looking 
for the highest income area see if the community has a sustained 
existence. Is there stability .. is insurance a viable possibility .. are 
there insurance restrictions placed on chiropractors either in visit 
numbers or maximum fees. Is marketing possible and how is the 
competition .. is there a DC on every corner.

Are the four components of demographics there: retail .. residential .. 
labor .. clerical all areas you can market to. Is the price for an office 
.. either rent or own prohibitive and are they located in easily 
accessible areas.

How are the existing DC's doing? Are they doing well or floundering?

As far as reading raw data .. that is not my expertise. Realize that 
various ethnic and economic levels appreciate chiropractic more or 
less. Some favor PI care when in an accident while others are 
educated enough that discussing wellness concepts and longer term 
care is possible. 

This is the best answer I can give. 

Have a Great Day

Dr. M