How to Start a Physical Therapy Clinic: Choosing Advisors

First off, this is a series based on our guide HOW TO START A PHYSICAL THERAPY CLINIC SIDE HUSTLE - THE ULTIMATE GUIDE. You can check it out to learn about all of the aspects of starting a physical therapy clinic side hustle!

Starting a physical therapy clinic is an exciting and challenging journey. It requires not only your clinical expertise but also a solid foundation in business management and decision-making.

Many new clinic owners seek advice from professionals like accountants or financial advisors, but it’s crucial to be selective about where you get your guidance. Here’s a guide to help you successfully start your physical therapy clinic with strategic decisions from the outset.

1. Choose Advisors Who Have the Right Experience

As you embark on starting your clinic, you’ll encounter advice from various professionals, but not all of it will be relevant to your specific needs. One common mistake is taking business advice from someone who hasn’t actually operated a physical therapy clinic.

While an accountant or financial advisor might be helpful in managing your finances, they may not fully understand the nuances of growing a physical therapy practice.

When seeking advice, prioritize working with people who have successfully built or scaled a physical therapy business. Surrounding yourself with the right mentors and advisors can provide invaluable insights that help you make informed decisions.

2. Outsource Key Tasks Early

Running a clinic involves many tasks, and it’s essential to know when and what to outsource. Bookkeeping is one of the first things you should delegate.

Hiring a professional to manage your day-to-day finances can save you time and help ensure your financials are well-organized. This allows you to focus on growing your clinic rather than being bogged down by administrative tasks.

However, keep in mind that while bookkeepers and accountants are critical to your clinic's financial health, their expertise is in managing finances—not in business strategy. Understanding the distinct roles of these professionals is key to effectively leveraging their services.

3. Understand Growth Cycles in Business

As you expand your physical therapy clinic, it’s common to experience temporary dips in profitability, especially as you take on additional overhead costs like hiring new staff or investing in equipment. These fluctuations are a natural part of the growth process.

Be prepared for these phases and recognize that they are often necessary steps toward scaling your business. As your revenue increases over time, your initial investments will start to pay off.

Knowing this ahead of time can help you make better decisions about when and how to expand your practice.

4. Keep Your Vision in Focus

When starting a physical therapy clinic, it's easy to get caught up in the day-to-day challenges. However, maintaining a clear vision of what you want to achieve is essential for long-term success.

Whether your goal is financial independence, creating a clinic culture that sets you apart, or expanding to multiple locations, every decision should align with that vision.

Stay committed to your goals and be intentional with the choices you make. This focus will help you navigate challenges, seize opportunities, and ultimately build a successful practice.

Conclusion

Starting a physical therapy clinic requires a combination of clinical expertise, business acumen, and strategic planning. By choosing the right advisors, outsourcing key tasks, understanding growth cycles, and staying focused on your vision, you can set yourself up for success.

With the right foundation in place, you’ll be well on your way to building a thriving practice that serves your patients and supports your professional goals.

Check out this podcast for more on this!

Ready to elevate your practice? Book a call at the link below with one of our expert consultants today and start your journey to delivering unparalleled physical therapy.