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Practice Apprenticeship

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

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  1. Practice Apprenticeship Noel Lloyd, DC www.soundchiropractic.com

  2. 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

  3. 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

  4. ? 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

  5. 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

  6. ? 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

  7. 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

  8. 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+

  9. 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

  10. 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

  11. 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

  12. OYOP 160 X $50 X $8K X 4.3 = $34,400

  13. OYOP 160 X $50 X $8K X 4.3 = $34,400 Minus Associate 25% = $8,600 Associate (X12?)

  14. OYOP 160 X $50 X $8K X 4.3 = $34,400 Minus Associate 25% = $8,600 Associate (X12?) $25,800

  15. OYOP 160 X $50 X $8K X 4.3 = $34,400 Minus Associate 25% = $8,600 Associate (X12?) $25,800 Minus overhead = $10,000

  16. 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

  17. 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

  18. 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

  19. 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

  20. 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

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