Entrepreneurship is a fairly common goal of many people, and the dream of starting one’s own business has a largely unmatched appeal. For those who have an interest in the industry, physical therapy clinics are a growing and prospering market, with greater and greater demand each year. Furthermore, physical therapy clinics can help people recover from some of the worst moments of their lives, from workplace injuries to chronic pain. 

Not only can starting a physical therapy clinic be a very profitable venture, but physical therapy clinics can also allow you to do good for people in need of treatment. If you’re a physical therapist practitioner with a passion for helping others without the corporate nature of other larger physical therapy clinics — or you’re simply someone looking to make a new investment — starting your own physical therapy clinic can be an incredibly fulfilling career move. However, before you begin, there are a few key things you do need to keep in mind.

Do Your Market Research

As with starting any new business endeavor, it’s vitally important to conduct enough market research before starting your physical therapy clinic in order to understand the clientele, accepted business practices, and what you need to differentiate yourself. It can be helpful to research what other physical therapy clinics in similar communities are doing, such as physical therapy Grand Rapids, and other major metropolitan areas. 

It’s also incredibly important to understand the demands and expectations of physical therapy clientele before you enter the market. Rather than waste your money on add-ons that no one wants, you can focus on improving the things that people look for in a good physical therapy clinic. 

Choose Your Physical Therapy Niche

While physical therapy might sound like a pretty general service, there are actually a variety of niches within the umbrella of physical therapy that you can choose to specialize in. The American Physical Therapy Associate recognizes a variety of niches that clinics can specialize in, including:

• Geriatrics
• Cardiovascular and pulmonary therapy
• Neurology
• Clinical electrophysiology
• Pediatrics
• Orthopedics
• Pediatrics
• Women’s health
• Sports

While these eight are the only ones the American Board of Physical Therapists offers certifications in, the APTA also recognizes performing arts, obesity management, health clubs, emergency care, and animal therapy as legitimate physical therapy specializations. By choosing an appropriate niche to explore your own interests and serve the local community, you can gain a better reputation and a more loyal clientele. It also allows you to focus your efforts on improving your treatment for something more specific, rather than attempting to be a jack of all trades.

Secure Appropriate Financing 

As an experienced business person will tell you, the most important part of starting a new business is to make sure you can actually start it. Most business ventures require significant up-front costs to overcome barriers to entry, and this money will most likely have to come in the form of a loan or co-payment with a partner unless you already have significant assets saved up. 

Failing at acquiring sufficient financing is one of the prime reasons why new businesses do not succeed, leaving you without a practice to show for your efforts. It’s also important to manage your finances and ensure a safe overhead so that you can absorb unexpected losses, which will almost undoubtedly appear down the line. By doing so, you can help mitigate the very real risk of failure.

Set Up Your Marketing Campaign

Marketing is another vital step to getting your new physical therapy clinic off the ground successfully. When marketing your new physical therapy clinic, the question you should always ask yourself is, “Why should customers in this area come to my clinic, instead of someone else’s?” Odds are there are already a variety of physical therapy clinics in the area, so your goal should be to differentiate your own practice. 

You can do this by specializing in a specific niche, as mentioned above, or advertise specific advantages for your practice over someone else’s. You should also consider the medium through which you advertise. Many companies are finding more success advertising over social media through ads or websites, rather than more traditional television ads or pamphlet advertisements. 

However, traditional advertisements like sending pamphlets to families in the area can also be an efficient marketing strategy. Do some research on your specific community and their habits and choose a marketing strategy that’s right for you. In turn, you can start to see your efforts pay off in the form of a reliable client and patient base.

Hire Good Staff

Finally, one of the most important parts of opening a successful physical therapy clinic is hiring good staff. Depending on the size of your clinic this can range from a team of therapists and administration staff to a single secretary, but your staff will form the experience your customers have at your clinic. Put effort into hiring the best people you can, not just in terms of qualifications but relevant people skills, as well. Having friendly, approachable staff is one of the best ways to make customers prefer your clinic over others.

With enough dedication, passion, and hard work, your physical therapy clinic will be up and running in no time. Be sure to remember that at the end of the day, your physical therapy clinic is there to provide quality service to your customers, first and foremost. By focusing on your objectives, and following these five guidelines, you can help ensure you and your physical therapy clinic are a resounding success.