Q: What about securing start-up capital?
No doubt, the process is more difficult than it was a few years ago. However, it IS possible more often than you may think … especially when you understand what is needed and how “the game” is played. You may find it interesting to know that we have helped recent grads secure lending over 40 times since October 2008 … the time when the market was falling apart and lending game changed forever! So, it CAN be done!
The first thing we do is walk you through discuss the reality of securing lending in today’s economy, and help you determine if it is even a possibility. We’ll share a “Banker Checklist” so you are aware of all you will need. Then, we will coach you through the step-by-step process we have developed to best help qualified doctors secure lending. It’s called the METHOD TO THE MONEY, and includes a HealthSource start-up business plan that has proven successful dozens of times.
In addition, part of that business plan is a set of projections with legitimate numbers … not numbers pulled out of thin air! In addition, bear in mind that HealthSource has received the Small Business Administration’s Franchise Registry. It’s the first in Chiropractic and, in laymen terms, means the SBA has done its due diligence on our franchise and given its stamp of approval. The bottom line is that lenders like this! They often feel more secure with this fact … and, therefore, may be more willing to lend to you.
Q: Can I really get financing that soon after I graduate?
A: Obviously, many factors play a part in that possibility. Of course, recent struggles in the U.S. economy have raised new challenges. Yet, even in the midst of all of this, we have had dozens of new DC’s acquire start-up capital. Most have used our “Method to the Money (“M2M) Program. This is a simple step-by-step plan we have created to walk D.C.’s (who are serious about HealthSource Launch U) through the lending acquisition process. Besides showing up as a well versed doctor who presents with an impressive business plan, the doctor must have strong credit. In addition, in this day and age, it is always helpful to have a cosigner in your back pocket as you approach lenders for a clinic start-up! Fact is: Many new doctors ARE still getting start-up money. It’s just a bit more difficult these days, so consider partnering with a group like HealthSource Launch U who takes on this challenge every day!
Q: What advantage does HealthSource add to the financing challenge?
A: It’s no secret, lenders traditionally lend more readily to someone wanting to start a franchise than as a sole owner attempting to create something new from scratch. Again, the reason is simple: franchises are proven, they are monitored by the federal government and they must provide full disclosure. When a lender sees that there are well over 300 clinics in a franchise and there is a specialized program for start-up, they like those odds! In addition, HealthSource has been granted the U.S. Small Business Administration’s “Franchise Registry”. Basically, what this means is that the SBA has done its due diligence on our company and given its stamp of approval. When lenders see this, you can understand that it helps your chances of getting start-up capital.
Q: Does HealthSource Launch U provide any assistance in the process of securing financing?
A: Yes! We have an efficient system called “Method to the Money” (M2M). This is a simple, step by step process laid out to help you succeed in achieving financing to LAUNCH your practice. It includes a business plan template, REAL projections based on practices who have started with us (which lenders like over random numbers you pick from thin air), check-lists to work through demographics, all the requires SBA forms, etc. In addition, we have a thorough working knowledge of lenders and will share lists and resources. Understand, this process is only utilized with qualified candidates with the intent to join the HealthSource movement!