Michael Milnes – Starting a Physical Therapy Practice – The Business Behind the Business

When Michael Milnes started his own physical therapy practice in 1997, he had some idea of how he wanted to structure his business and his plans to grow. But he soon learned that it takes a lot of business savvy to run a practice. After getting some advice from a college friend who studied business, Michael Milnes knew he needed to develop a solid business plan if he was going to be successful. He started by answering some questions.

Michael Milnes

  1. How will the business be successful?
  2. What will make the business unique and stand out from the competition?
  3. Where will the money for the business come from? Investors or out of pocket savings?
  4. How much money is needed for startup costs? How much is needed for the first 6 months? How much for the first year?
  5. What is the target revenue so the business will be profitable? What are the financial goals for the first year and the first 5 years?
  6. If there are partners in the business, how will they play a role? How will important decisions be made? How will new partners be added? How will partners be removed?
  7. Will there need to be employees? If so, how many? What will the hiring and training processes be like?

Michael Milnes considered questions like these before opening his practice almost two decades ago and continues to revise his answers to fit the needs of his growing business. He is proud to have won the ‘Best in Rochester’ award from physical therapy in 2008 and 2013.

Advertisements

About Michael Milnes Rochester MN

Michael Milnes of Rochester, MN, is a physical therapist based in Rochester, Minnesota. Michael Milnes has received his undergraduate degree in Biology, which gives him a great foundational knowledge of the human body. Following his undergrad, Michael Mines Rochester MN went on to receive his Doctorate in Physical Therapy. Michael Milnes has used his doctorate to achieve great success as a physical therapist. Michael Mines Rochester MN currently uses his doctorate in Physical Therapy as a self-employed physical therapist that is beloved by his clients.
This entry was posted in Physical Therapist and tagged , , , , , . Bookmark the permalink.