ownyourownpractice.com
Practice Apprenticeship
Noel Lloyd, DC
www.soundchiropractic.com
ownyourownpractice.com
Practice Apprenticeship
• Your future is your greatest asset
• You can have the practice of your dreams, but most don’t
• You can cut risk, time, stress by 70% while getting a million dollar education
• However, there are many pitfalls and dangers to avoid
ownyourownpractice.com
Dead End Associateship #1
• Falling for big, dynamic practice, high %
• End up an exam dog adjusting overflow
• Big promises, but no track record
• Owner/director can’t or won’t teach
• No real training to build your practice
• Dead-end (1, 2, 3+ years wasted)
• Loans due and stuck at 50/wk
ownyourownpractice.com
Dead End Associate #1
500
400
300
200
100
Year One Year Two Year Three Year Four
?
50 visit week a week, exam dog, doing overflow at 2 years
?
Big moveNo skillsLoans dueNo income
ownyourownpractice.com
Dead End Associateship #2
• Falling for big practice, big base
• End up an exam and adjusting 500/wk
• Big promises, no track record
• Owner/director can’t or won’t teach
• No real training to build your practice
• Dead-end (1, 2, 3+ years wasted)
• Loans due and you’re stuck at 500/wk
ownyourownpractice.com
Dead End Associate #2
500
400
300
200
100
Year One Year Two Year Three Year Four
?
500 visit week a week, exam and adjusting dog at 2 years
Big moveNo skillsLoans dueNo income
Can’t leave, never an owner, stuck
ownyourownpractice.com
OYOP Apprenticeship
• Focused on your practice from the very start• Good to great money with a $1M dividend• Kept promises, 100% successful track record• Owner/director who has, can, will, does teach• Real training to sustain your practice• “Live-beginning” (1, 2, 3+ years invested)• Loans due, but you’re making $20K/mo
ownyourownpractice.com
OYOP Apprenticeship
500
400
300
200
100
Year One Year Two Year Three Year Four
!
160 to 200 visits a week, knows how sustain and grow bigger
No moveGreat skillsLoans paid easily$200K +
Don’t want to leave, now the owner
$42K+ $65K+ $250K+
ownyourownpractice.com
OYOP
• 200 X $40 = $8.0K X 4.3 = $34,400
• 180 X $40 = $7.2K X 4.3 = $30,960
• 160 X $40 = $6.4K X 4.3 = $27520
• 140 X $40 = $5.6K X 4.3 = $24,080
ownyourownpractice.com
OYOP
• 200 X $60 = $12.0K X 4.3 = $51,600
• 180 X $60 = $10.8K X 4.3 = $46,440
• 160 X $60 = $9.60K X 4.3 = $41,280
• 140 X $60 = $8.40K X 4.3 = $36,120
ownyourownpractice.com
OYOP
• 200 X $50 = $10K X 4.3 = $43,000
• 180 X $50 = $9K X 4.3 = $38,700
• 160 X $50 = $8K X 4.3 = $34,400
• 140 X $50 = $7K X 4.3 = $31,100
ownyourownpractice.com
OYOP
160 X $50 X $8K X 4.3 = $34,400
ownyourownpractice.com
OYOP
160 X $50 X $8K X 4.3 = $34,400
Minus Associate 25% = $8,600 Associate (X12?)
ownyourownpractice.com
OYOP
160 X $50 X $8K X 4.3 = $34,400
$25,800
Minus Associate 25% = $8,600 Associate (X12?)
ownyourownpractice.com
OYOP
160 X $50 X $8K X 4.3 = $34,400
$25,800
Minus Associate 25% = $8,600 Associate (X12?)
Minus overhead = $10,000
ownyourownpractice.com
OYOP
160 X $50 X $8K X 4.3 = $34,400
$25,800
Minus Associate 25% = $8,600 Associate (X12?)
Minus overhead = $10,000
$15,800 Owner
ownyourownpractice.com
OYOP
160 X $50 X $8K X 4.3 = $34,400
$25,800
Minus Associate 25% = $8,600 Associate (X12?)
Minus overhead = $10,000
$0
$20,000 Associate
$4,400 Bank
Owner
ownyourownpractice.com
Ordinary Practice Sales
• 1 years gross collections with no AR
• Have to borrow operating expenses
• 1 in 7 patients quit immediately
• 4 of 5 patients quit in 24 months
• Staff defection just as bad
• Multiple nightmare stories
ownyourownpractice.com
What You Buy With OYOP
• Practice equipment, AR ($60K to $80K)
• No wasted 3+ years
• No move, no loss of patients
• No “valley of the shadow of death”
• Fully trained, support and affiliation
• Marketing, systems, staff in place
• 40% savings
ownyourownpractice.com
Do You Qualify?
• Application and interviews
• Shared vision, goals and values
• Paid to train: Apprenticeship
• Making your benchmarks
• Getting your clinic location and growing
• OYOP
Top Related