Q:

HI Doc,
It's been a while since I have spoken to you and I have another quick 
question for you.  I am thankful for your advice and timely answers.
I have my own practice of about 6 months now and am seeing around 
30 Patients per week.  I have been asked to be a partner in the 
biggest chiropractic office in the area and I'm pretty confused as to 
what to do.  Another new DC has just moved into the town where I 
was the only DC and I am really looking for some answers.  What 
type of questions would you ask this other DC who wants me to be a 
partner with him?  I really appreciate you help!

A:

Thanks for the e-mail. Seems the question is do you want to be your 
own boss or work for someone. I wouldn't be concerned about the 
new DC moving in .. unless they have more energy or are more 
creative .. where will they be getting new patients .. in fact .. ask 
yourself this .. if you can for see their potential patient source .. you 
can have a jump on it now.

As far as being a partner .. rather than an associate or IC .. there are 
many legal issues involved. Partners own shares of the business and 
therefore as a new partner comes into the business they pay for 
their share or have a legal understanding concerning who owns what 
and what would happen if the company dissolves .. the liability of 
law suits etc. How much will he pay you and is there built in 
incentives for financial growth .. as a partner is there a clear split 
of profit and who determines what the profits are and who is 
accountable to who .. I would have an attorney check things out if 
you plan to be a "partner."

So .. my answer is .. do you want to go it alone or have the safety of 
working as a group .. both have advantages and disadvantages 
depending on your personality.

Have a Great Day

Dr. M