How to start a Physiotherapy and Rehab start up business?


Do you want to start your own business and physio rehab center?

Do you hate your job  as a physiotherapist?

Have you planned for your future as a physiotherapist?

Every physiotherapist has Dream to start their own physio clinic or rehab center. This dream starts shaping from the under graduation. But with time we all know the realities of the world and the problems others are facing in starting the clinic. Slowly this dream start fading away. The Dream never comes true. We prepare our-self for the so called dream job.  This dream gets lost in the day today activities of the job.

I also had the similar dream  to start my own physiotherapy and rehabilitation center.

I had got wonderful job in academics as Associate professor in physiotherapy college with good payment an benefits. I was doing great as academician. Everything was going great  but this dream never let me sleep peacefully. Somehow i realized that continuing at job was not what i wanted in my life. How will i get paid after my retirement, when my age is 60 +.

Will i start my private business at that moment?

Will i be able to do home visit based physiotherapy?

Will i have that much energy and resources to start over again ?

All this questions were disturbing me lot. So i realised that it better to start your own private set up to support after your retirement.  Build a system of business which will run on its own with less of my involvement and work

Fortunately i studied a book by Robert Kiyosaki “Rich dad poor Dad”. This book was referred to me by my senior Dr. Deeraj Kaveri (PT)  in 2005. This book has changed my life. Based on this book and other book by Robert Kiyosaki, i started building my own business start up in 2017. In June 2017, i have registered my business as pvt ltd company. within next 6 -8 months we have started 5 centers in Maharashtra and one center in Indore Madhya Pradesh. Around 25-30 therapist are working in our team and  treated around 100 patients of spinal cord injury and stroke.

cropped-cropped-img_0327.jpg

I frequently get calls or mail asking

How did you  started your own rehab center?

What to do to get started?

How to manage finances?

How to get employees in your team? how to pay them ?

How much space / area and infrastructure is required?

What all equipment’s is required for physiotherapy?

How to do you plan the billing for the patients ?

So many question are coming in the minds of young budding clinical therapist and budding physio. So i decided to write a blog.I am not writing this blog and sharing the information because i achieved my peak of success, but i am going through the process of building one of the rehabilitation center in neuro rehab. This is the right time to share with you all. i will remember all the problems and hurdles i faced during the process and how did i overcome these.

Presently i am sharing my all information with my team in weekly Wednesday meeting. I share how i started with the clinic? why and how i registered my clinic as pvt limited company? How i managed my financial difficulties for starting the company? What is my mission and vision for the company? What are my future plans of development and strategies of implementation of goals and objectives ?

I not only share with them but sometime few of them accompany with me during the business deals. The best way is to learn business development is through the process. My team member comes with me when i go to discuss about new projects and new business deals. They observe and learn how to communicate and close the deal.

So I am sharing the details with you all as well.

Challenges excites me.

I was working as an associate professor in Sancheti College of physiotherapy Pune, India. I was very happy employee doing great job at my position. I was very successful as teacher/lecturer in the physiotherapy college. I love and enjoy teaching. Everything was going great but something was missing. I was not very happy. I was not enjoying what I was doing. Then I realised that that life is monotonous, it wasn’t exciting journey. There were no challenges in present life. I got my answer, I need something new and more challenging “ Challenges excites me”.

During this period my wife told me to watch Ted talk videos. fortunately I found the video of Simen Sinek

“Start with why”: How great leaders inspire action

This video changed my outlook towards the life completely.  Start with why the best concept i learned at best time of my life. I was head of dept  at physiotherapy dept in Sancheti hospital. This videos helped to plan my strategies of  planning an development  of department.

 

This article is a very long so i will be writing in this multiple chapters.

CHAPTER 1. INVESTMENT IN EDUCATION

“Money doesn’t make you rich or poor, education does! ” Robert Kiyosaki

To start your own start up or physio clinic or rehab centers you should educate how to start the business.

Most us believe that one we compete our graduation or post graduation is done our education is over. That is completely not true. We have knowledge and information about the subject but we still lack application of this knowledge in clinical application. Sometime the college education may be sufficient enough to do job in a institute but it definitely not sufficient in private practice and starting your own start up.  We need to develop extra skills other than clinical skills. You should have good financial education and learn  how to communicate, how to sell? how to manage your time and money? How to do billing and get paid well? All this you can’t learn in your college.  This we only learn through process of doing in the real world. This is where we understand that we still need to learn a lot.

  1. Professional education
  2. How to become a great leader? Simen Sinek
  3. Education of Financial intelligence. Robert Kiyosaki
  4. Education for “how to become entrepreneur “. Patrik Bet David
  5. Education for sells training. Grand Cardone

  1. Professional education:

    Our education doesn’t end after graduation and post-graduation. We need keep learning different clinical skills. So you  need keep learning different workshops which improves your desired skills. I keep attending different workshop in neuro rehab which helps me understand neuro rehab more efficiently.

  2. Leadership :

    How to become a great leader? Get educated for how to be a leader.

    To start your own start up for your physio opd/clinic or rehab center , You should develop good leadership skills and higher purpose of life.

    As a leader you should know
    1. Good communication skills
    2. Great oration skills
    3. Motivational speaker
    4. Ability to transform people’s life

    If people believes in your leadership skills and your purpose of life they will join you on their own. Soon your mission will become their mission.

    Simen Sinek has given excellent talk on leadership. please click here to know more about leadership

“You need to be great leader to become successful business man”

Simen Sinek taught me that you need to learn how to be a great leader before running a department/ rehab centre/ business. Please click her to find my blog on videos of Simen Sinek

I have shared all the details about my experiences of my  transition from manager to a leader in my blog “Being HOD of Physiotherapy and rehab Dept”

3. Financial Education :

You need to invest in financial education. Robert Kiyosaki has written lots of books on financial education and literacy. For more details about Robert Kiyosaki please refere my blog on Robert Kiyosaki

 

I got to know about Rich Dad poor dad from my friend Deeraj Kaveri. He advised me to read this book. This is the best selling book for 8 years in wall street. It gave very good insight  how we all taught differently about money and financial education.  I liked the book so much that i bought most the book released.

 

 

https://www.youtube.com/watch?v=Dm6nBUq5ri4

To start your own start up or physio clinic or rehab centres you should educate how to start the business. Business triangle:

Business triangle:IMG_3967

 

 

4. Entrepreneurship: How to become Entrepreneur?

List of entrepreneurs and their  videos i studied and advised you to study before to start up.

  1. Patric Bet David
  2. Grand Cardon
  3. Naveen Jain
  4. Elon Musk
  5. Steve Job

 Petric Bet -David (click here for more details) 

5. Sales Training: Grand Cordon is the world’s best sales training expert.

Grand Cardone’s Video’s (click here for more details)

 

Chapter 2: how to build the business?

Why do people do business?

  • Money
  • Growth
  • Hate job
  • Want more free time
  • other

If you you build the business only for above reasons it will grow but not it will be not the world class business solving bigger problem.

Best way to do business is to solve a problem. If you give solution to a bigger problem you have built the bigger business. Naveen Jain

What is business?

Business is defined differently by different experts. I liked the definiation of business by one Indian- American entrepreneur   Naveen Jain. For more details please refer to blog on Naveen Jain

“If you find and/or  give a solution to the problem that is business. If you want to build a 1 billion dolor business solve a ten billion dolor problem”. Naveen Jain.

Robert Kiyosaki has very well explained the different cash flow quadrant.

 

rich-dad-poor-dad-cashdflow

 

Business School

 

 

 

IMG_3967

BI triangle : By Rich Dad Poor Dad. Robert Kiyosaki.

Robert Kiyosaki says to build a good and sustainable business everyone need to understand be good at all the different domains of this triangle. Most of the physiotherapist the focus on the product or service. They only improve their therapeutic skill. Try to become more expert in the services quality only. By doing this you are actually preparing yourself for self employment quadrant more than Business quadrant.

For more details please refer to blog on Financial education by Robert Kiyosaki

I studied the triangle and understood importance of each component. I also invested a lot improving my services as neuro therapist by learning different neuro rehab concepts through workshop and certification. But soon realized that is only a small portion of the triangle.  Then i looked at the outer borders of the triangle.

Leadership, Team and Misssion.

Leadership

First i focused a lot on leadership domain of the triangle. Any business to be successful you should have great leader who will build a team and guide they to the mission and goal of the business. His job is to keep every member of team to be motivated and focused on the purpose of the business. For leadership training i worked on theory and practical part of it. Theory i learned from Simen Sinek videos and books ( Starst with why and Leaders eat last). for more details please refer to blog Leadership: Simen Sinek

 

Practical: For practical purpose you can join or select one of the managerial post in your dept. In 2014, i had applied for the post of HOD of physiotherapy and rehabilitation dept in Sancheti Hospital with 27 staffs in dept. Being HOD of dept for 3 years helped me to learn how to solve the problems of the team ? How to deal with management? How to lead the team and keep them motivated always. This helped to grow as leader. for more details please refer to my blog Being HOD of  physiotherapy dept.

Team

My all the success credit goes to my team. Fortunately i could build a great team. Please refer to my blog how to build the dream team.

 

As a leader you need to invest a lot in your team member. We have weekly two lectures for the staff training and development. Every Tuesday we have Business management lectures and Thursday we have lecture or case studies on neuro rehabilitation. So invest lots of time in their personal financial and professional growth.

richard 1

I say…

If the team members grow then the department /company grows. But if  department grows doesn’t mean that memebrs/employees grow. Gajanan Bhalerao

 

Mission

You should have a mission, a cause which driven by masses or society driven. Mission to solve problems of multiple people. If you cause and purpose genuine and touches the masses people will join with you for the cause. People like my purpose and mission so they help me a lot in building this business. Some of them provided me place for minimal amount. I never have shortage of staff or employees because new budding physio keeps joining me to learn and help me achieve my goal and mission.

GB school of rehab Mission is

“…….Making neuro rehab simple”.

“Changing the methods learning  and practice neuro rehabilitation to make motor learning and motor control simple.”

“Providing intensive training and ample of practice to subjects wiht neurological dysfunction.”

“Teaching physiotherapist, how to start and run their start up business”

Inner Triangle 

The base of the triangle is cash flow. This is the most import component. Most of the business fails because of poor cash flow. It doesn’t mean the capital investment.

you may get capital investment from different investors, but your business should have its own regular cash flow.

We will take example from our physiotherapy field. If you start a orthopedic rehab based physiotherapy, your most common patient are back pain, neck pain.   Which can be managed in few weeks to a month with pain modulation and rehabilitation. That means you will have to search new patient every month.  If you dont get new cases regularly it will stop your continuous cash flow. Solution for these is you will have get as many new patients possible. (average 3-5 new patient /week)

Whereas  in neuro rehab, every  patient requires rehabilitation from few months to years. So the patients stays will you for longer period and you will have continuous cash flow.  Even if you add one new patient / month, by the end of the year you will have many    patients (12 patients) . That is why i have selected neuro rehab field.

Communication:

You should have great communication skills. This helps to build huge contacts and long lasting relationship. If you build good contact and relationship you dont have spend lots of funding on advertising and marketing.

System :

This is the key element for smooth running of the business even in absence of business owner. If you create the great system, it will run on its own and your day today involvement will be less in daily operations. So you can focus on your business growth and planning.  To build good system you need to study your services, team, build stander operating procedures and protocols.

Legal:

You need to protect your assets and intellectual properties by copy righting it, or othere legal means. Select appropriate type of company for registration. (refer to chapter 4 for company registration details. )

Product / services:

Although it has small space in BI triangle doesn’t mean it has less value in business. You should focus building and providing quality services in physiotherapy and rehabilitation. Invest in skill training for quality of services in physiotherapy an rehabilitation.

Chapter 3:  Motivation : Keep yourself Motivated

If you are starting new set up, you need to keep yourself motivated always. Road to starting a business is very rough and difficult. You will have minimum 2-3 start up failure before you learn the rules and process of doing this better. many times you feel like why did I started this. Doing a job was better than this. You feel like giving up many times.

I watch daily some motivational videos. My favourite motivational speakers are

  1. Eric Thomos
  2. Less brown

Eric Thomos click here for more details

“I Don’t sleep when I’m Tired, I Sleep When I’m Done” Eric Thomos

NEVER GIVE UP..KEEP PUSHING . Eric Thomos

 

 

 

Les brown click here for more details

 

Chapter 4: How to  Start your Company: How to register your company?

You should know what type of company do you want to register and form?

If you are alone so  can you just go ahead with proprietorship ? or there is need to go for partnership?

If you don’t have initial funding for starting a business then should you raise money by partnership or limited liability LLP or Pvt ltd company? Each has its advantages and disadvantages. You will have to study all types and based on your need select the best suitable company for you.

I wanted to start a bigger company with higher growth around Pune and Maharashtra, so i registered my company as pvt ltd. In this you can raise money by selling the shares of the company.

You have studied all this videos before you do the registration of your company ?

Difference between Proprietorship vs Partnership vs LLP vs Pvt Ltd Company

 

How to start a Partnership in India?

 

Why an LLP is better than a Partnership?

 Difference between LLP and Pvt Ltd company in India

 

Understanding LLP – Limited liability partnership for India

How to form a private limited company in India?

 

Thanks for taking your time and going through the whole article. I will be adding more details about my initial business planning and implementation of strategy.

Please give comments on this blog if you liked it.

Please feel free to ask question  if you need any help from me.

 

One response to “How to start a Physiotherapy and Rehab start up business?

  1. As we all decide to own a business,
    Somewhere somepoint in our lives,
    We should know where to start.

    And this is what we have done and followed, through our journey starting from 20th December 2016 till now.

    As Ratan Tata and Grant Cordone always say, learn business from a person who runs a business than learning it from an advisor who does a job, we are glad to be a part of evolving buiseness in Physiotherapy.

    I always wanted to be an Entrepreneur and i got the perfect opportunity to work with you sir!

    As you handed over Kondhwa centre branch to me, all of the above stuff was needed to be studied deeply and thoroughly.

    I’m very happy to be a part of this venture.
    To be an entrepreneur was my dream and to increase the buiseness was your dream.
    With the help of principles of Team, Leadership and Mission (outer triangle) we are focusing on the growth of all.

    We surely don’t just create employees but Entrepreneurs.

    Like

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