With many years of experience in chiropractic medicine, Dr. Noah Banks wanted to explore the possibility of starting a private practice. He first learned about the services offered by the Small Business Development Center through a chiropractor friend and colleague of his in another state. He found the Arkansas Small Business and Technology Development Center at the University of California and asked for help.
ASBTDC Director and Business Consultant Mary Beth Brooks began advising Banks on location selection. Utilizing market research, industry-specific reports provided rankings of her two locations in different demographic categories. Data on population, median household income, and chiropractic services helped Banks determine the best location for the clinic in Bentonville.
Once a location was identified, discussions focused on financial projections, financing options, and strategy. “The ASBTDC team has been a great resource for me, serving as a sounding board for my planning for overhead, applying for loans, and developing a business plan,” said Banks. “We were excited to have Mary Beth’s experience at our disposal throughout this process.”
Financing for the clinic was completed through a combination of loans, lines of credit, and personal savings. “Mary Beth has so much experience in the banking industry that she was a huge help to me,” Banks said. “She has been involved in millions of loan transactions, so she knew what my business plan needed and didn’t need.”
Although the clinic opened as a private practice, Brooks looked to the future and provided the bank with the ASBTDC portfolio of HR shortcuts for interviews, employees and contractors, job descriptions, new hire checklists, and onboarding.
Dr. Noah Banks Chiropractic and Wellness will open in May 2024, offering personalized, results-oriented chiropractic care for pain treatment and health restoration. With a focus on first-class service and efficiency, the clinic accepts health insurance and serves those without insurance. Using gentle, specific, state-of-the-art chiropractic techniques, we are able to treat patients across the lifespan, from newborns to the elderly with osteoporosis.
