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Detoxification Demystified and the Crucifers that Help
"Let food be your medicine and medicine be your food," is a quote often attributed to Hippocrates, a philosopher of the 5th century BC.
Targeting the Bad Apples in the Bunch
While everyone was focused on the conversion to ICD-10, the Office of Inspector General for Health and Human Services released a new report on chiropractic titled "CMS Should Use Targeted Tactics to Curb Questionable and Inappropriate Payments for Chiropractic Services."
Diagnose Sprain Injuries in MVA Cases With Dynamic X-Rays (Pt. 1)
Am I the only person to notice hospitals are doing a seemingly insufficient job lately in their initial radiological workup of motor vehicle accident (MVA) victims?
Breech Baby: A Scientific Approach
You learned a classic cookbook style treatment strategy in college for treating breech baby presentation. I'm sure you've used it. The main ingredient: moxa at Urinary Bladder 67.
Pro-Con: Swaddling for Newborns
The practice of swaddling has been used for thousands of years and was popular until the 1700s, when it was slowly abandoned by many cultures that considered it old-fashioned or barbaric.
The 2015 Nobel Prize Shines a Spotlight on TCM Research
Traditional Chinese Medicine continues to make it's presence felt on the world stage as the 2015 Nobel Prize in Physiology or Medicine was jointly awarded to William C. Campbell and Satoshi Omura for their work on combating parasites and YouYou Tu for her discoveries in combating Malaria.
The Concussion-Subluxation Complex
In the Aug. 1, 2014 issue of Dynamic Chiropractic, I reviewed some of the literature demonstrating the role of the chiropractic adjustment in post-concussive care.
F4CP Making a High-Impact Impression
The Foundation for Chiropractic Progress has released details of its 2016 strategy, certain elements of which are already in play. The strategy includes ads, posters and other resources available to all F4CP members.
Tailor-Made Knee Pain: The Sartorius Muscle
A patient was referred to my office after receiving treatment from various providers with no results. The patient was training for the Olympics as a marathon runner and was unable to run or walk without severe medial knee pain.
Create Community and Grow Your Practice
Many healthcare providers are fortunate to enjoy the freedom and independence of owning their own businesses. However, the constant demands can lead to a lonely and isolating experience unless you make an effort to get out of your office.
Cold and Flu Season: Expanding the Repertoire
As we move into the winter months, it is important for clinicians to have a solid working knowledge of effective herbal protocols for treating and managing clinical cold and flu presentations.
Building Community: A New Way to Socialize Your Practice
Social Media can seem like a slippery slope when, in fact, it is fairly easy to understand. With social media platforms, you can connect with current and potential new clients, build strong customer loyalty and increase brand awareness.
Are You a Stakeholder?
In today's world many new things are occurring, especially in the world of information technology. With these changes, comes an entire new set of vocabulary words and definitions.
Suffering Makes Us Human
It is possible that suffering, instead of being something negative, can be one of the greatest gifts to bring out one's humanity — if we allow it to be.
Making Sense of an Increasingly Obvious Conclusion
Where's U.S. health care heading? Like it or not, the list of telltale signs is growing to a point that stands out to even the most myopic observer. Consider this list of facts as you look into the future of health care in the United States:
Too Many to Remember: Tips to Revive Your Ortho / Neuro Test Skills
When I was at Palmer in the mid-1980s, we were given a set of notes in one of our diagnostic courses. The notes covered approximately 70 orthopedic and neurological tests for various regions of the body.
When I started to think about what I wanted to do, I toured different schools to choose where to pursue my original chiropractic education.
Born to Energize the Human Spirit: Recollections of Sig Miller
Sig Miller, longtime executive director of the Association of New Jersey Chiropractors (ANJC), passed away on Sept. 17 after a long battle with cancer.
Yo San University Receives $1 Million Gift
Long-time Yo San University supporter Thomas S. Blount recently gave a $1 million dollar gift to the University, it's largest charitable gift to date. Mr. Blount was a retired naval officer, aerospace consultant and philanthropist.
Designing a Fitness Plan (Part 1)
It doesn't matter if you come to my practice for pain relief, weight loss, healthy aging or something else. The formula I talk about for each patient's fitness strategy is pretty much the same.
April, 2002, Vol. 02, Issue 04
Building a Successful Spa: Step Four -- Budget/Financing
By John Fanuzzi
In the past three issues, I've covered some of the creative aspects of opening a successful day spa. If at this point you know your theme, location, and have a feel for the size of the spa you have envisioned, it's time to get down to some of the more concrete business stuff - such as an evaluation of site demographics; startup cash requirements; cash flows and projections both for startup and for operations; and sales goals with break-even points for each profit center within the business.
Before you go to the bank or to money partners, a business plan should be prepared.You have to sell your idea. The more homework you do, the better chances of success. The banker surely will want to know:
Even if you don't need financing, it is still good to go through the planning process, just as if you were going for a loan.
To determine the size of the project and the money required, I recommend building an interactive spreadsheet, one in which you create input boxes that will generate formulas of cash flows for each profit center. The summary of cash flows for each profit center will then flow into a master summary sheet. This gives you a tool for dialing in all of your scenarios and break-even points, and determining the size of the project. It will also become your daily performance sheet after you open your spa; by monitoring the actual numbers, you can see where your strong and weak points are and readjust your cash needs accordingly. This way, you can make adjustments before it's too late.
Here is an example of a startup sheet:
In this scenario, the startup treatments are only five per day, even though there are four rooms with a potential of 32 treatments per day, at the normal eight hours worked per day with one-hour sessions. All of the numbers in the boxes are changeable. All of the other numbers are the result of a formula affected by the numbers in the boxes.
One important thing to know is the break-even number of treatments per day and month. The key numbers will feed into the cash flow sheet, which gives you your cash requirements. Create an entry sheet and a cash flow sheet for each profit center. Some of the profit centers might include front desk and retail, facial room, wet room, fitness, nails, and guest rooms.
The final page (see below) is a summary sheet, into which all the totals from the individual cash flow charts flow into a master cash chart with required startup amounts. Many businesses do not even break even for the first 1 1/2 to 2 years, so that must be figured in when you do your startup numbers.
It is always good to set goals and post and chart your daily numbers, so your entire team can work together toward a goal. The daily keeping of performance will help you make the proper adjustments to stay on target.
If you've done a good job on your creative planning, this financial planning will bring your ideas down to earth. After you know your cash needs, and after you have a commitment from your banker or investor, you will be ready for some serious design work, which will interface with the budget you have just created.
That brings us to next month's topic - design. In the meantime, have fun!
Click here for previous articles by John Fanuzzi.
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