Front Matter

Chapter 23 The Business of Canine Rehabilitation 567

Business description/products/services

This section describes what products/services
the business offers. Rather than specifically dis-
cussing costs, this section should describe how
the product/service meets the needs of custom-
ers or fills a gap that exists in the market.

Market analysis summary

This section reveals the market needs, trends,
and growths that should make this business
marketable. Key customers, future markets,
and any existing competition are described
here. Advantages of the proposed business and
what makes it different from competitors are
spelled out.

Strategy and implementation summary

Sales, marketing plans, and how customers are
to be drawn to the business location are
explained here. Location, equipment, technol-
ogy, and key metrics that will be tracked to
ensure the business is headed in the right direc-
tion are listed.

Company and management summary

The management team and the organization of
the business are described here. This should
include the company owners/officers/directors
along with a summary of the value they bring to
the organization and the role(s) each will play. It
should also include the date of incorporation.

Financial plan

The financial plan details projected profits and
loss as well as a sales forecast. This will give a
potential lender/shareholder an idea of antici-
pated revenue.

Business funding

Knowing how much funding the business will
require to get started is key. Finding ways to
attain funding is another issue. There are

several ways to secure funding for a sports

medicine/rehabilitation business.

Traditional bank loans

These can be challenging in certain financial

times. However, a cogent business plan that

shows substantial financial projections is helpful.

Having good credit history is also important.

Investment partners

It is possible to find an investor to provide start‐

up funds. Investors are especially helpful if

they have invested in similar small businesses

before, as their insight and experiences can be

invaluable.

Shareholders

If the business is set up as a corporation, shares

of the company can be sold. Shareholders will

then own a portion of the business and will have

a proportionate say in overall business opera-

tions such as equipment purchases and corpo-

rate structure. Having shareholders requires

establishing the value of a business that may not

even be running yet, which can be difficult.

Small business administration

Often the federal government’s Small Business

Administration (US SBA) will offer financial

assistance and loan options to small busi-

nesses especially if they are women‐ or

minority‐owned.

Naming/branding the practice

Special consideration should be given to the

name of the practice because it can help brand

the business for its lifetime. It is never easy to

change a business name, so taking time to assure

an excellent name at the start will be key in mar-

keting success. The practice will also need a

logo, and some owners elect to add a tagline.

Resources that can help with business branding