Q: I am ready to take the big plunge and open my own practice. I recently purchase your book on practices, but I didn't find quite what I needed. If you could help me it would be much appreciated. I figure my basic necessities are an x-ray machine and accessories, a drop table, and electrical stim. units as my major expenses. I need to determine how much money I need to borrow and a good business plan to take to the bank. Could you help me with the business plan because I don't even know where to start. Thanks A: Thanks for the e-mail and question. A business plan is also a strategic plan toward success. Besides how much it will cost to open .. it should outline how you¼ll create wealth as well. Therefore .. the plan should be easy to write but difficult to implement unless you have the knowledge to create a practice and sustain it. You have a great reference with the Smart Start Book .. so don¼t write it off too early .. it has been used by hundreds of DC¼s and continues to be opened for ideas when needed. As far as what you¼ll need to open and how much it will cost depends on how you will practice. If you will be taking something to the bank .. I would be too aggressive .. be conservative with a cushion for more. Within the plan have a solution for repayment .. a marketing plan .. this would be similar to a Prognosis section on a narrative .. the area the attorney looks to instead of reading the rest. Okay .. what will you need .. what you stated is the bare necessity. You¼ll need: By the way .. used equipment is very acceptable (Hessco .. 1-800-446-2307 .. has new and used equipment and can supply a new office from nuts to bolts and set you up for a lease program .. I never used them but they have an office near Life University and have helped a number of students in the past .. they seem to be honest and are located throughout the country) These are bare necessities and will be tailored to your specific needs: In the adjusting room (s): A primary table (purchase a quality table it will be with you for years) Secondary table if necessary (flat bench) Table/desk top to write and place supplies and papers Educational posters and charts View Box Seat for guest Reception/waiting area: $5 -8,000 .. new Seats for patients and guests Rack for magazines Center coffee table or like area for magazines etc. Posters Coat rack Music system Optional: TV/VCR combo (can be bought for $300 or less) for educational purposes Patient Educational videos Child area or box for toys (optional) CA area: $8-12,000 .. new Desk/table/work area Computer and office software 3 line Telephone Fax machine Copy machine Practice Management system (forms and follow through material) Bookkeeping System Billing/Insurance system Salary Examination Room: $20-25,000+ .. new X-ray unit Developing Unit X-ray view box Specific diagnostic equipment as needed for your protocol Table .. flat bench will do Gowns if necessary Charts and Posters Table to write on Forms Therapy Room: $3-5,000 .. new Spinalator type tables .. two inexpensive versions .. I used both and they ship If you use a table such as this be sure to get more than one and the same type and color Kyro flex - 1-817-336-1319 Haberer Tables - 770-445-5947 Muscle Stim (as you mentioned) Hydrocolator General: $2-4,000 Office Forms .. papers .. general items Consultation material Report of Findings material Marketing material If you haven¼t the funds or credit to borrow from a bank .. you may be able to lease these items. Check my webpage under weblinks for many of these companies .. they all have leasing agents. Be sure there is no Pre-payment penalties attached. If you lease .. spend little down but add to the marketing budget .. a great looking office with few patients is not the idea. Patients help you pay your loans and later will help you add to the beauty of the office. Use my Smart Start Book as soon as you get an address to plan your Marketing Farm and plant seeds .. be sure to read the second portion of all the chapters which has the PR programs. Get in touch with me then As far as a business plan .. Use the above as a reference .. add whatever applies to the area of the country you are in. If you want to write it up and send it to me .. we can look it over together. Be sure to place emphasis on Marketing and place a value of $ $5000 I hope this helps .. if I need to be more specific .. let me know Have a Great Day Dr. M