Thinking about opening a trauma surgery practice? We tell you what you need to know to get started.
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Creating a Business Plan for a Trauma Surgery Practice
A common mistake for an entrepreneur is to launch your company without having written a business plan.
The key benefit of writing a business plan is that it establishes both a framework and a roadmap for your business. If you don't have a business plan, your leadership will be handicapped, limiting your trauma surgery practice's ability to succeed long-term.
Start by defining your business mission. The process of writing a mission statement doesn't have to be complicated. From there, the other piece of the business plan puzzle will begin to fall in place.
Long before you open a trauma surgery practice within your community, it's worthwhile to see how you will fit in the competitive landscape. Use the link below to find competitors near you. Complete the form by entering your city, state and zip code to get a list of trauma surgery practices that are close by.
How tough is the competition in the market you are considering? If the competition is too tough, you may need to think about starting the business in a different area or even start a completely different business instead.
Studying the Market
After you've evaluated your local competitors, it's essential that you talk to somebody who is already in the business. It's very unlikely that the local competition will talk to you. It'd be crazy for them to teach you the business.
However, an entrepreneur who owns a trauma surgery practice outside of your community may be willing to share their entrepreneurial wisdom with you, given that you don't compete with them in their area. In that case, the business owner may be more than happy to discuss the industry with you. Our estimate is that you may have to contact many business owners to find one who is willing to share his wisdom with you.
Where does one find a trauma surgery practice entrepreneur who is willing to talk to you but doesn't live nearby?
We can help. Follow the link below, try a few city/state combos or zipcodes, and then start calling!
Advantages of a Trauma Surgery Practice Purchase
On a percentage basis, more entrepreneurs intend to enter trauma surgery practice ownership through a startup than through a business purchase. Yet trauma surgery practice startups aren't easy - many fail within the first year.
There are a lot of factors that need to be considered in buying vs. starting a business. By buying a profitable trauma surgery practice, you'll shorten the amount of time it takes to achieve a return on your investment because you'll have the advantage of a proven operation and an existing customer base.
Franchising May Be a Better Way to Go
If you are launching your first business venture, you should evaluate purchasing a franchise.
If you planning on starting a trauma surgery practice, you would be wise to determine whether franchising might alleviate your startup process.
The link below gives you access to our franchise directory so you can see if there's a franchise opportunity for you. You might even find something that points you in a completely different direction.
These additional resources regarding starting a business may be of interest to you.
If you already are in business and came here to learn about growing an existing trauma surgery practice, these resources will come in handy:
If you sell to trauma surgery practices, you're in the wrong place. Try these resources instead:
If you are interested in starting a different kind of business, please browse our directory of guides below.