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Practice Apprenticeship. Noel Lloyd, DC www.soundchiropractic.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
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Practice Apprenticeship Noel Lloyd, DC www.soundchiropractic.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
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
? Dead End Associate #1 500 400 300 200 100 50 visit week a week, exam dog, doing overflow at 2 years ? Year Two Year Three Year Four Year One Big move No skills Loans due No income
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
? Dead End Associate #2 500 visit week a week, exam and adjusting dog at 2 years 500 400 300 200 100 Can’t leave, never an owner, stuck Year Two Year Three Year Four Year One Big move No skills Loans due No income
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
OYOP Apprenticeship 160 to 200 visits a week, knows how sustain and grow bigger 500 400 300 200 100 Don’t want to leave, now the owner ! Year Two Year Three Year Four Year One No move Great skills Loans paid easily $200K + $42K+ $65K+ $250K+
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
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
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
OYOP 160 X $50 X $8K X 4.3 = $34,400
OYOP 160 X $50 X $8K X 4.3 = $34,400 Minus Associate 25% = $8,600 Associate (X12?)
OYOP 160 X $50 X $8K X 4.3 = $34,400 Minus Associate 25% = $8,600 Associate (X12?) $25,800
OYOP 160 X $50 X $8K X 4.3 = $34,400 Minus Associate 25% = $8,600 Associate (X12?) $25,800 Minus overhead = $10,000
OYOP 160 X $50 X $8K X 4.3 = $34,400 Minus Associate 25% = $8,600 Associate (X12?) $25,800 Minus overhead = $10,000 $15,800 Owner
OYOP 160 X $50 X $8K X 4.3 = $34,400 Minus Associate 25% = $8,600 Associate (X12?) $25,800 Minus overhead = $10,000 $0 $20,000 Associate Owner $4,400 Bank
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
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
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