accurate chiropractic

7/28/2019 Accurate Chiropractic

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Table of Contents

1.0 Executive Summary.............................................................................................................................11.1 Mission.......................................................................................... ..............................................11.2 Keys to Success ........................................................................................................................1

Chart: Highlights......................................................................................................................21.3 Objectives ...................................................................................................................................2

2.0 Company Summary.............................................................................................................................22.1 Start-up Summary......................................................................................................................2

Table: Start-up.........................................................................................................................3

Table: Start-up Funding..........................................................................................................4Chart: Start-up .........................................................................................................................5

2.2 Company Ownership.................................................................................................................53.0 Products and Services........................................................................................................................64.0 Market Analysis Summary..................................................................................................................6

4.1 Market Segmentation ................................................................................................................6Chart: Market Analysis (Pie)..................................................................................................8Table: Market Analysis ...........................................................................................................8

4.2 Service Business Analysis........................................................................................................84.2.1 Competition and Buying Patterns................................................................................9

4.3 Target Market Segment Strategy...........................................................................................105.0 Strategy and Implementation Summary..........................................................................................11

5.1 Competitive Edge....................................................................................................................115.2 Marketing Strategy ..................................................................................................................115.3 Sales Strategy..........................................................................................................................14

5.3.1 Sales Forecast............................................................................................................14

Table: Sales Forecast.................................................................................................15Chart: Sales Monthly ...................................................................................................15Chart: Sales by Year...................................................................................................16

5 4 Milestones 16


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Table of Contents8.4 Projected Cash Flow...............................................................................................................26

Chart: Cash ...........................................................................................................................27Table: Cash Flow..................................................................................................................28

8.5 Projected Balance Sheet........................................................................................................28Table: Balance Sheet...........................................................................................................29

8.6 Business Ratios.......................................................................................................................29Table: Ratios .........................................................................................................................30

Table: Sales Forecast ...............................................................................................................................1Table: Personnel ........................................................................................................................................2

Table: General Assumptions ....................................................................................................................3Table: Profit and Loss ...............................................................................................................................4Table: Cash Flow.......................................................................................................................................5Table: Balance Sheet ................................................................................................................................6


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Accurate Chiropractic

1.0 Executive Summary

Accurate Chiropractic, LLC is a clinic that specializes in providing natural healthcare to

members of the community who are injured as a result of motor vehicle and workrelated accidents, or suffer from chronic pain. Its owner is Dr. Angelo M. Rubano, Jr., D.C.

Dr. Rubano has a proven track record of success in his profession, having recently sold apractice in New Jersey for $124,000, which he purchased 3 years ago at a cost of $20,000. He

has been in private practice as a business owner since graduating from Life ChiropracticCollege 11 years ago. His leadership ability has proven effective in both the civic and

professional arenas, where he has served on various executive boards of successful andgrowing organizations. Through these organizations he has developed expertise in coordinatinglarge scale events and networking. In addition, he is an accomplished public speaker, an

attribute which has served him well as both an expert medical witness and lecturer on varioushealth related topics.

His guiding business philosophy is to be creative rather than competitive. Realizing that nearly

80% of the population has never used or thought about Chiropractic Care, he understandsthere are more than enough potential patients to go around. Ultimately his plan for growth will

incorporate other doctors in the area who can benefit from the corporate approach AccurateChiropractic has for providing health and safety consultation to the service and constructioncorporate market. With this in mind Dr. Rubano's approach is to see himself primarily as a

marketer of chiropractic services. Accurate Chiropract ic, LLC will reach the untapped marketof Chiropractic patients by connecting emotionally with our target market through a systematic

series of direct mail advertising. We will serve the injured directly, as well as indirect ly throughcorporate c lientele. We will be a contributor to the community through outreach events aimed

at childrens' and workers' safety.


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1.3 Objectives

Collections of $420,000 in the first year

Hold Gross Margin to minimum of 55% 300 total cases by the end of year 1 Case Average of $3,500 by end of year 2


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Accurate Chiropracticfurniture and computers, initial month's rent/security deposit, and initial advertising cost,

including production of printed reports.

Long-term assets include a key of diagnostic equipment (Surface EMG with dynamic range ofmotion valued at $8,000), X-ray equipment, and chiropractic tables.

Much of this will be financed by direct owner investment. The projected loan to aid in thepurchase of equipment and working capital is shown as a long term liability. The assumptions

are shown in the following table and chart.

Table: Start-up

Start-up

Requirements

Start-up Expenses

Legal $2,500

Stationery etc. $1,000

Brochures $200

Consultants $0

Insurance $1,000

Rent $5,675

Licensing $6,000

Research and Development $6,000

800 Line Set Up Fees $200

Computers and Software $8,000

Pri nt Adverti si ng and Report Producti on $1,000

Office Furniture $3,000Total Start-up Expenses $34,575

Start-up Assets

Cash Required $69,000


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Table: Start-up Funding

Start-up Funding

Start-up Expenses to Fund $34,575

Start-up Assets to Fund $173,000

Total Funding Required $207,575

Assets

Non-cash Assets from Start-up $104,000

Cash Requirements from Start-up $69,000

Addit ional Cash Raised $0

Cash Balance on Starting Date $69,000

Total Assets $173,000

Liabilities and Capital

Liabilities

Current Borrowing $0

Long-term Liabili ties $164,000

Accounts Payab le (Outstanding Bi ll s) $0

Other Current Liabili ties (interest-free) $0

Total Liabili ties $164,000

Capital

Planned Investment

Start Up Cost Funded by Owner $33,575

Addit ional Owner Cap itol Investment $10 ,000

Other $0

Addit ional Investment Requi rement $0

Total Planned Investment $43,575

Loss at Start-up (Start-up Expenses) ($34,575)


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2.2 Company Ownership

The company is set up as a Florida Limited Liability Corporation for the purpose of providing some

shielding of liability to its members without the intricacies of an S-Corporation. The principaland founding member is Angelo M. Rubano, Jr. D.C.

Dr. Angelo M. Rubano, Jr. is a 1993 graduate of Life Chiropract ic College in Marietta, Ga. Afteri i hi li t ti hi ti di i f th St t f N J i M h f


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Accurate Chiropracticperformed health screenings of 75 members of the Fort Myers community.

___________________________________________________1 see Addendum, Credentials;2 see Addendum, Testimonials;3 Letip is an international organization that functions to help small businesses grow through the

exchange of business tips. The central offices are located in California, and there are localchapters throughout the country.

3.0 Products and Services

Accurate Chiropractic, LLC offers a high level professional service that helps take injured and ill

people of all ages from varying states of pain and inactivity to comfort and wholeness. Weprovide a drugless approach to healthcare by giving patients the tools they need, physically,

mentally, and emotionally, to return to an active and healthy lifestyle. To the corporate client,we provide analysis of factors that increase the risk of on-the-job injuries and the tools toreduce those risks. Considering that low back pain is responsible for half of workers'

compensation costs, and that past research has demonstrated time and again that

Chiropractic Care compared to other typical medical treatment is more successful and morecost effective for these conditions, it is obvious that this is a much needed service that will

create a high demand when approached the right way.1,2

We will also sell products that support our services, including home exercise devices, pillows,

TENS units, and weight loss programs. (A TENS -- transcutaneous electric nerve stimulation --unit is a small, battery-powered, portable muscle st imulation machine that can be used at

home to help control pain.)___________________________________________________1 Mootz, R.D., Franklin,G.M., Stoner,W.H. Strategies for preventing chronic disability in injured

workers. Topical Clinical Chiropractic, 1999; 6(2):13-252 Florida Department of Labor and Employment Security, Division of Workers' Compensation,Claims and Medical Billing Data 1994-1999


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Accurate Chiropracticindividuals injured within a 6 month time period of visiting our office. Insurance c laims are

easier to handle at this stage making for more lucrative reimbursement rates. Inaddition, early intervention aids more rapid recovery, which leads to greater word of

mouth referral.

Work Related Injury Victims: this is a yet untapped market in our field. Recentlegislation in the state of Florida (Effective October 1, 2003) makes it possible forChiropractors to not only treat injured workers but to also function as case managers. In

this capac ity we are able to direct the entire care of the injured worker. With caseaverages ranging from $6,323-$7,465 this is a very lucrative market. (Case averages

referenced from Florida division of Financial services website: www.fldfs.com/WCAPPS/Claims_Research/Stats_Results.aspyear 2001 statistics.)

Victims of Chronic Pain Resultant from Past Motor Vehicle Accident: the segmentof the population that has attempted other forms of treatment without the results they

were expecting. They are candidates for not only a natural approach to treatment butalso "back end" sales of therapeutic devices such as TENS units, heat and cold packs,

and home exercise devices.

Neck and Back Pain sufferers with onset unrelated to Motor Vehicle Accidents: Thisaccounts for a large percentage of the population, nearly 30% of our population

experiences one or the other (we have adjusted our numbers to account for the fact thata large portion of these will have experienced their problem as a result of a motorvehicle accident).

Other Pain Sufferers: refers to the segment of the market that experiences painsyndromes like Fibromyalgia, Chronic Fatigue Syndrome, Migraine and Tension Headaches,

Carpal Tunnel Syndrome, middle back pain, etc. This is a segment of the population wewill attract thanks in part to our affiliation with several managed care and major medical

programs. These are cases that most M.D.s are not equipped to properly service becausetheir training in musculoskeletal disorders is limited, and the prescription drug route hasyet to develop a legitimate answer for these problems.


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Table: Market Analysis

Market Analysis

Year 1 Year 2 Year 3 Year 4 Year 5

Potential Customers Growth CAGRWellness patients 6% 78,697 83,419 88,424 93,729 99,353 6.00%

Motor Vehicle Accident Victims 6% 3,553 3,766 3,992 4,232 4,486 6.00%

Work Related Injury Victims 1% 20,603 20,809 21,017 21,227 21,439 1.00%

Chronic Pain Sufferers Via 6% 13,141 13,929 14,765 15,651 16,590 6.00%


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Accurate Chiropracticparadigm, there is easy access to our services without need of referral or membership in a

managed care organization. Within the area of workers' compensat ion, although managed caredoes play a role to a certain extent, our plan to market to "self insured" companies (see

Marketing Plan) will give our clinic ample exposure and access to thousands of injured workerswithout the stipulations of managed care, nor their propensity to slash medical fees.

___________________________________________________

1

Yellow Book 2003-2004, Ft. Myers/Cape Coral Edition, Chiropractic Section, pages 182-185.

4.2.1 Competition and Buying Patterns

The key element in the purchase decisions in the healthcare of accident victims is the

patient's perceptions of the doctor's competence and empathy with his or her situation. Moreso than in illness care, there is a certain psychosocial component that goes along with being

injured in an accident and the potential of being unable to provide for yourself or for your family

for any length of time. The doctor who can demonstrate to the patient that he has a goodsense of what the patient is experiencing is more likely to connect with and gain the trust of

that patient. This relationship is fostered by establishing a game plan for that pat ient's care andconsistently following that game plan so that there are no sudden changes or surprises.

Auto accident patients frequently are referred by personal injury attorneys and medical

doctors; therefore, it is essential to build relationships with attorneys in the area that specializein personal injury litigation as well as medical physicians. Maintaining these relationshipsrequires prompt reporting, open lines of communication, and the utilization of a team of

specialists in other fields of diagnostic imaging and medicine.

Patients rarely compare providers. Typically if they are referred by an outside source such as anattorney, physician, or other patient they follow the word of mouth referral. It is rare for

t i h i f hi t t th t lth h ill " h " f


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4.3 Target Market Segment Strategy

We have chosen this target market because it represents a portion of the population whose

needs match our offerings. Although for years many have viewed Chiropractors as "bonedoctors," we are actually specialist in helping correct problems related to the muscles, tendons,ligaments, and nerves, who use bones as mechanical levers to assist the body's natural healing

properties. Most injuries due to vehicular and work related acc idents involve the soft tissuesof the body, namely the muscles, ligaments, and nerves. In addition to the fac ts mentioned

above, it makes complete economical sense to target this market, because it is still the mostfinancially rewarding, with case average amounts being 30-50% higher than cases covered by

traditional insurance plans. Perhaps most importantly, this area needs this type of service. Asof the 2000 Census this section of Lee County (a 7 mile ring around our projected officelocation), one of the fastest growing counties in the country, had over 75,000 people in the

15-54 years of age category, a segment of the population that is projected to grow 6% by theyear 2005. Accident rates for this segment of the population are close to 30% higher than the

general population.

According to a compilation of data obtained from NHTSA (The National Highway Traffic SafetyAuthority), The Crashworthiness Data System, The Fatal Accident Sampling System, as well as

the General Estimates System, the national average with regard to incidence (that is the numberof a given event occuring within a population in a given time period) is 770 out of100,000. That is, 770 out of every 100,000 people will be involved in an accident each year.

In a growing area with as many young drivers as in Fort Myers, Fl., that number is much higher.In fact, according to data for the year 2001 obtained from the Florida Department of Highway

Safety and Motor Vehicles, the incidence for motor vehicle crashes across all age groups (age

15-85+) in the state of Florida is closer to 2,270 out of 100,000.1 This is nearly 3 times the

national average. Based on information provided by Scan/US Inc. That translates into over 3,500motor vehicle accidents for the residents living within a 7 mile ring around our office locat ion.2

Another key factor in analyzing our market is calculating injury prevalence. Prevalence is the


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Accurate Chiropractic(3rd Edition). Baltimore, Lippincott Williams Wilkins Co., 2001

4 U.S. Census Bureau Statistics for 2000 Census with Population Reported by Age and Sex.5 U.S. Department of Labor, Bureau of Labor Statistics Injuries, Illnesses, and Fatalities www.

bls.gov/iif/home.htm6 Florida Division of Financial Services workers' compensation Claims Statistical Query (made10/1/2003) www.fldfs.com/WCAPPS/Claims_Research/Stats_Results.asp7 2003 Florida workers' compensation Reform

5.0 Strategy and Implementation Summary

Accurate Chiropractic, LLC will focus, geographically on the southwestern Lee County region of

Florida, particularly in the town of Fort Myers.

The target customers are those members of our community who have been injured in motorvehicle and work related acc idents either recently or in the past. We will reach these peopledirectly through emotional based direct response marketing and indirectly through our

contacts with local personal injury attorneys, medical physicians, and corporate clients.

5.1 Competitive Edge

We start with a competitive edge in that our location is ideal.Within a 7 mile ring around our

officethere are projected to be 165,958 people by the year 2005 (156,517 as of the 2000

census).1 There is no other competitor in this areathat we know of that can make the sameclaimand shares our vision for care of the injured. Our positioning in this area is hard to match;

the combination of land development and road improvement in the area make for hazardousdriving conditions andgreater potential for injured workers.We must be aware that wewill only

produce results if we maintain our mainstrategic focus and direct our marketing, businessdevelopment, and fulfillment in the area of injury and chronic pain care.


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Accurate Chiropracticservices by stating we are the best, wecare, we have a friendly staff, etc .- everyone else is

doing just that.1Rather, we will sell a concept that strikes an emotional cord with the injured andcauses them to call a toll freevoice recorded message (people are more likely to call knowing

they will not be pressured by a live person)for a free report on various topics.2 Each topic, beit auto accident, back pain, orneck painwill have its own (800) number to allow us to track the

effectiveness of our advertising (wehave already purchased this tool from a companythatprovides the service and transcription of information calledPATlive).We will simply ask the

prospective patient to leave their name andaddress only (the software automatically recordstheir phone number) and give them the option of being directly connected to a caring

professional.3 The database will be managed by our clerical staff, who will enter data received

by fax from PATlive's transcription service directly into ourcontact management software andfollow-up with our system of mailing reports and newsletters.

The purpose of the free reports will be to show our prospects that we "really do" understand notonly their condition, but their situation as well (i.e. its affect on their work, family life, etc.), and

will lead them to the next level of a free "condition specific" evaluation. All free offers will have aone month expiration date with follow up reports and progressively enticing offersbeing sentthe 2nd and 3rd weeks. Any prospect that does not schedule within the first month will

automatically begin receiving our newsletter the next month.

Internal marketing is just as important to the well being of a chiropractic practice.Each patientwill receive a monthly newsletter and be"rewarded" for providing referrals of family and friends.

Rewards will be items such as free movie tickets and gift certificates to local restaurants.Biweekly half hour health seminars held in the office will be used to educate our patients onsubjects that are essential to maintaining their improved state of health.These two means of

communication with our existing client base will also provide a means of "back end" sales withdirect response advertisements for exercise, nutritional, and therapeutic devices.Asa means of

offsetting the cost of producing and mailing the newsletters, we will seek out corporate

partnerships from our suppliers. In this relationship we will include an advertisement of theirspecific product(s) in our newsletter in exchange for their financial backing.As our mailing listgrows, we will have more bargaining power with these corporate entities.(Although privacylaws prevent us from sharing our patients' personal information with these companies, it does not


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Accurate Chiropracticfire safety, while we will check every child that participates for the presence of spinal

misalignments and educate their parents on child safety measures for automobile travel.We havealready secured the licensing as the official event coordinator for the Fort Myers area event to

be held in May 2004. Since this event began 10 years ago,practitioners in the state of Floridahave held some of the most successful events, with anywhere between 500 to4,000 children

being screened by theChiropractor.

It is important that we position ourselves as the most efficient and cooperative chiropractic

office in town by not only speaking about service, but demonstrating it. We will do this bybeing open on "off hours" and "off days." Historically chiropractic offices have been closed on

Tuesdays, Thursdays, and Saturdays, as well as early mornings andlunch hours. We willmake it apoint to provideopportunities for patients to be seen during these days and times. Patient

phone calls will be returned within 2 hours and a 24-hour emergency line will be provided for allpatients.Understanding that communication is essent ial to how physicians and attorneys handletheir clients, we will see to it that everyphysician and attorneywho refers a patient will get a

phone call from the doctorwithin 1 hour and a report within 48 hours, with regular statusreports to follow on a weekly basis. This high level of communication for patients and

professionalswill be accomplished during "off" hours by using a locator service which willautomatically send a message to the doctor's beeper or cell phone that a message has been

recorded.

As we expand further into the corporate market, we will seek to function as consultants tomidsize companies (50 or more employees).Our strategy will be basically the same, with just aslight variation.Direct response advertisements will be aimed at CFOs and safety managers

instead of accident victims.Free reports will be geared to peaking the corporate clients' interestin us as the expert at reducing insurance cost, improving employer-employee relationships, and

creating a safer work environment to help them keep more dollars in their pockets.Communicationin this area is paramount.We will send daily Fax summariesin a clear, concise

format to the companies' safety managers, detailinginjury and return to work status of theiremployees. Pat ients will be seen the same day as the injury,with an immediatestatus report tofollow within 1 hour of his/her visit. Newsletters specifically geared to the corporate client's

interestwill be sent monthly with legislative updates and tips for safety and injury prevention.Our


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5.3 Sales Strategy

Sales in our business are part service and part education. We must service the patient by

listening intently and identifying their chief area(s) of concern, and then provide visible evidence,when it exists, to show them what the cause of their problem is and the benefits of correctingthat problem. We will never sell a patient on a visit by visit basis, but rather on a per case

basis demonstrating the value of following a proven program that works for their complaint.

We must never be afraid to tell the patient everything they need, but also keep in mind peopledo not always buy what they need but what they emotionally desire. We must cause them to

emotionally desire better health. When a patient balks at our care plan we must refocus them onthe benefits of the end result and in the end be willing to walk away from someone who is notwilling to invest in their own health. Our fees are non-negotiable.

The same holds true when working at the corporate level. When selling a company on our

ability to service their workforce, we must make it clear that cheap care is not the same ascost-effective care. It is important to demonstrate how providing the right type of care for each

situation while costing them money in the short term will actually save them money byreducing lost work time, the cost of t raining new or replacement employees, and insurance

costs.

5.3.1 Sales Forecast

The following table and chart give a run down of forecasted sales. We expect sales to increase

steadily as our marketing program and contact management system (see Marketing StrategySummary, section 5.3) are put into place. The cost of Chiropractic Service is representative ofwhat we believe to be a reasonable assumption of how much we need to spend in advertising,

both internal and external, to obtain new patients. The unit cost of one new patient is


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Accurate ChiropracticJanuary 2004 start date. We are, however, prepared to begin immediately providing adequate

funding is secured.

Table: Sales Forecast

Sales Forecast

Year 1 Year 2 Year 3

Sales

Chiropractic Cases $412,475 $990,000 $1,188,000

Corporate Clients $18,000 $21,600 $25,920

Home Exercise Devices $5,700 $8,640 $10,800

Weight Loss System $3,760 $5,760 $6,912

Pillows $3,480 $5,616 $6,739

TENS Units $5,640 $8,640 $10,368

Total Sales $449,055 $1,040,256 $1,248,739

Direct Cost of Sales Year 1 Year 2 Year 3

Chiropractic Cases $4,125 $9,900 $11,880

Corporate Clients $3,600 $4,320 $5,184

Home Exercise Devices $2,622 $3,974 $4,968

Weight Loss System $1,269 $1,944 $2,333

Pillows $1,624 $2,617 $3,140

TENS Units $1,363 $2,091 $2,509

Subtotal Direct Cost of Sales $14,603 $24,846 $30,014


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5.4 Milestones

The accompanying table lists important program milestones, with dates and managers in

charge, and budgets for each. The milestone schedule indicates our emphasis on planning forimplementation.

What the table doesn't show is the commitment behind it. Our business plan includes completei i f l t l l i d ill h ld thl f ll t i t di


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Table: Milestones

Milestones

Milestone Start Date End Date Budget Manager Department

"Whiplash: the Epidem ic"

Presentations to Attorneys

12/20/2003 1/20/2003 $50 Dr. Rubano Marketing

Compl ete Busi ness Pl an 10/10/2003 11/11/2003 $350 Dr. Rubano Admi ni strative

Establ ish Bank Account For

Business

11/1/2003 11/11/2003 $0 Dr. Rubano Administrative

Purchase Business Card sandLetterhead/Envelopes

11/3/2003 11/17/2003 $450 Sonia Rubano Marketing

Print 500 copies of MVA Free

Report


Compose Sales Letters For

MVA victims, Low Back Pain,

Neck Pain


Print Copy of Office Policy and

Procedural Ma nual

11/20/2003 11/23/2003 $20 S oni a Rubano Admi ni strati ve

Mail Intoductory Letter to 25

Area PI A ttorneys


Mail Introductory Letter to 25

Area Physicians


Letters to 4 Area High School

Vice Principals Re Driver safety


Follow-up Phone Calls to Area

Atto rneys


Followup Phone Call s to Area

Physicians


Secure Start Up Funding 10/31/2003 11/30/2003 $0 Dr. Rubano Administrative

Followup Calls To Vice

Principals


T ype and Print Sales Letters 9/20/2003 12/2/2003 $150 Soni a Rubano Marketi ng

Team Meeting 12/1/2003 12/5/2003 $0 Dr. Rubano Administrative


C C t Cli t S l 11/30/2003 12/20/2003 $0 D R b M k ti


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Accurate ChiropracticTeam Meeting 1/23/2004 1/26/2004 $0 Dr. Rubano Administrative

Followup Phone Call s withAddit ional Atto rneys and

Physicians


Inaugaral Letip Meeting 1/15/2004 1/29/2004 $0 Dr. Rubano Marketing

Mul ti pl e Di rect Response Ads 1/6/2004 1/31/2004 $320 Soni a Rubano Marketi ng

Contact MADD Organization

for Help with T een Driver

Safety Awareness



Half Hour to Health Seminar 2/3/2004 2/3/2004 $50 Dr. Rubano Marketing


Role Out Corporate Program

with Direct Response Post Cards

to CFO's





Prepare and Mail Monthly

Newsletter


Letip Meeting 2/5/2004 2/26/2004 $30 Dr. Rubano Marketing

Presentati on to Corporate Cli ent 2/5/2004 2/26/2004 $100 Dr. Rubano Marketi ng

Whiplash The EpidemicPresentation to Attorney


Mul ti pl e Di rect Response Ads 2/1/2004 2/28/2004 $320 Soni a Rubano Marketi ng


Half Hour To Health Seminar 3/2/2004 3/2/2004 $50 Dr. Rubano Marketing


Presentations to Area High

Schools


Followup with Any Upcoming

Speaking Engage ments


Direct Response Post Card toCorporate Cli ents




Followup Phone call and 3/17/2004 3/20/2004 $0 Dr Rubano Marketing


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6.0 Web Plan Summary

Although we do not anticipate the website being a big player in our marketing and sales game

plan initially, we do understand the importance a web presence has in portraying a certain imageto the public. The Accurate Chiropractic, LLC website will offer basic information on thebenefits of chiropractic c are for various injuries and conditions, as well as listing our address,

contact information, and hours. We will list a series of FAQs (Frequently Asked Questions),and include a link to a mapping site with online directions to the office.

In the future, we may consider adding an interactive format that allows patients to check their

account balance and activity, pay bills, and schedule appointments online. It is our goal tokeep up with changes in technology so long as they are cost effective; therefore, we will reviewour web plan quarterly and make changes in accordance with our growth and cash flow analysis.

To further show off its expertise, the Accurate Chiropractic, LLC website should create a

resources area, offering articles, research and copies of our monthly newsletters to interestedparties. A calendar of upcoming seminars and Dr. Rubano's schedule of continuing education

will also be an excellent way of showing our commitment to keeping up with the latest innatural healthcare advances.

The key to the website strategy will be combining a very well designed front end, with a backend capable of recording leads. The web address, which is already under construction, is www.

accuratechiro.com.

6.1 Website Marketing Strategy

Initially, our website will not play a large part in our overall marketing strategy. As previously

stated, the Accurate Chiropractic, LLC site will be provided as a convenience for our active


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Accurate Chiropractictechnical resource to build the trackable download and the newsletter capabilities.

7.0 Management Summary

The initial management depends on the founder himself. In addition to Dr. Rubano, we have backup consulting services provided by Sam Fisher, our CPA and Mary Snell, our corporate

attorney. We also have a consulting agreement with Altadonna Communications, who providessupport with regard to our marketing program.

7.1 Personnel Plan

The following table summarizes our personnel expenditures for the first three years, withcompensation increasing from less than $110K the first year to about $755K in the third. We

believe this plan is a compromise between fairness and expedience, and reflects our mindsettoward expansion to service a growing market. Year 1 salaries reflect 2 months for the front

desk position; initially this role will be included in the insurance staff position. The ChiropracticAssistant position will be added at the start of the fourth quarter to aid in the increased

patient flow.

Year 2 salaries reflect a full year for Associate Doctor #1 and a 1/2 year for Associate Doctor

#2. Performance bonuses will be calculated at the end of each year based on net profits.Employee benefits such as health insurance are addressed in the Profit and Loss Table (section

8.3). The detailed monthly personnel plan for the first year is included in the appendices.

Table: Personnel

Personnel Plan


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Accurate Chiropracticexponential growth. While the goal of our external sales and marketing plan is to bring

new patients to the practice, the focus of our internal program will be to increase thevalue of the service provided.

3. We are also assuming start-up capital of $43,575 (provided by the owner), and an

initial long-term loan from a reputable funding source of another $164,000.

8.1 Important Assumptions

The financial plan depends on important assumptions, most of which are shown in the following

table as annual assumptions. The monthly assumptions are included in the appendices. From thebeginning, we recognize that collection days are critical. Interest rates, tax rates, and personnelburden are based on worst case scenario assumptions.

Three of the more important underlying assumptions are:

1. We assume that there are no unforeseen changes in automobile insurance provisions

regarding personal injury protection coverage.2. We assume that motor vehicle accidents and injuries will continue at a ratecommensurate with that of the last 10-year period.

3. We assume that work place injuries continue at a rate commensurate with that of thelast 10 years as well.

Table: General Assumptions

General AssumptionsYear 1 Year 2 Year 3

Plan Month 1 2 3

Current Interest Rate 10.00% 10.00% 10.00%

Long term Interest Rate 10 00% 10 00% 10 00%


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Table: Break-even Analysis

Break-even Analysis

Monthly Revenue Break-even $14,694

Assumpti ons:

Average Percent Variabl e Cost 3%

Estimated Monthly Fixed Cost $14,216


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Accurate ChiropracticDepreciation of long-term assets is as follows: X-ray equipment over a thirty year period,

chiropractic tables over a twenty year period, and computerized diagnostic equipment overa seven year period.

As with the break-even, we are projecting very conservatively regarding fixed cost, cost of

sales, and gross margin. Our fixed cost and cost of sales should be slightly lower in reality, andgross margin higher, than in this projection. In determining insurance, printing, and advertisingexpenses, we purposely projected higher than average costs. We prefer to project

conservatively so that we ensure adequate cash flow.

The detailed monthly projections are included in the appendices.


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Table: Profit and Loss

Pro Forma Profit and Loss


Sales $449,055 $1,040,256 $1,248,739

Direct Cost of Sales $14,603 $24,846 $30,014

Other Costs of Sales $0 $0 $0

Total Cost of Sales $14,603 $24,846 $30,014

Gross Margin $434,452 $1,015,410 $1,218,725

Gross Margin % 96.75% 97.61% 97.60%

Expenses

Payroll $109,166 $448,544 $753,692

Marketing/Promotion $20,000 $20,000 $20,000

Depreciation $4,248 $4,634 $4,634

Rent $15,100 $22,335 $25,455

Util ities $5,500 $9,000 $11,500

Insurance $925 $2,965 $3,575

Payroll Taxes $0 $0 $0

Office Supplies $4,763 $11,353 $14,205

Legal Fees $0 $2,500 $2,500

Accounti ng Fees $1,100 $2,500 $2,500

Computer Technical Support $660 $792 $872

XRay Film and Processor Maintenance $1,925 $3,890 $5,980

Professional Organization Membership $770 $966 $1,110

Employee Benefits Package $6,435 $21,060 $42,120

Total Operating Expenses $170,592 $550,539 $888,143

Profit Before Interest and Taxes $263,860 $464,871 $330,582

EBITDA $268,108 $469,505 $335,216

Interest Expense $14,910 $12,275 $9,525


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Table: Cash Flow

Pro Forma Cash Flow


Cash Received

Cash from Operations

Cash Sales $112,264 $260,064 $312,185

Cash from Receivables $234,790 $645,903 $889,198

Subtotal Cash from Operations $347,054 $905,967 $1,201,383

Addit ional Cash Received

Sales Tax, VAT, HST/GST Received $0 $0 $0

New Current Borrowing $0 $0 $0

New Other Liabil ities (interest-free) $0 $0 $0

New Long-term Liabil ities $0 $0 $0

Sales of Other Current Assets $0 $0 $0

Sales of Long-term Assets $0 $0 $0

New Investment Received $0 $0 $0

Subtotal Cash Received $347,054 $905,967 $1,201,383

Expenditures Year 1 Year 2 Year 3

Expenditures from Operations

Cash Spending $109,166 $448,544 $753,692

Bill Payments $139,334 $270,089 $266,050

Subtotal Spent on Operations $248,500 $718,633 $1,019,742

Addit ional Cash Spen t

Sales Tax, VAT, HST/GST Paid Out $0 $0 $0

Principal Repayment of Current Borrowing $0 $0 $0Other Liabil ities Principal Repayment $0 $0 $0

Long-term Li abi li ties Pri ncipal Repayment $27,504 $27,500 $27,500

Purchase Other Current Assets $0 $0 $0


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Table: Balance SheetPro Forma Bal ance Sheet


Assets

Current Assets

Cash $140,050 $299,884 $454,024

Accounts Receivabl e $102,00 1 $236,290 $283,646

Other Current Assets $0 $0 $0

Total Current Assets $242,051 $536,173 $737,670

Long-term Assets

Long-term Assets $104,000 $104,000 $104,000

Accumulated Deprecia tion $4,248 $8,882 $13,516

Total Long-term Assets $99,752 $95,118 $90,484

Total Assets $341,803 $631,292 $828,155

Liabil ities and Capital Year 1 Year 2 Year 3

Current LiabilitiesAccounts Payab le $22 ,042 $22 ,213 $21,836

Current Borrowing $0 $0 $0

Other Current Liabili ties $0 $0 $0

Subtotal Current Liabil ities $22,042 $22,213 $21,836

Long-term Liabili ties $136,496 $108,996 $81,496

Total Liabili ties $158,538 $131,209 $103,332

Paid-in Capital $43,575 $43,575 $43,575

Retained Earnings ($34,575) $139,690 $456,507Earnings $174,265 $316,817 $224,740

Total Capital $183,265 $500,082 $724,823

Total Liabili ties and Capital $341,803 $631,292 $828,155


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Table: RatiosRatio Anal ysis

Year 1 Year 2 Year 3 Industry Profile

Sales Growth n.a. 131.65% 20.04% 5.93%

Percent of Total Assets

Accounts Receivabl e 29.84% 37.43% 34.2 5% 21.14%

Other Current Assets 0.00% 0.00% 0.00% 45.36%

Total Current Assets 70.82% 84.93% 89.07% 71.11%

Long-term Assets 29.18% 15.07% 10.93% 28.89%Total Assets 100.00% 100.00% 100.00% 100.00%

Current Liabil i ties 6.45% 3.52% 2.64% 29.10%

Long-term Liabili ties 39.93% 17.27% 9.84% 19.50%

Total Liabili ties 46.38% 20.78% 12.48% 48.60%

Net Worth 53.62% 79.22% 87.52% 51.40%

Percent of Sal es

Sales 100.00% 100.00% 100.00% 100.00%

Gross Margin 96.75% 97.61% 97.60% 100.00%Selling, General & Administrative Expenses 58.41% 58.00% 52.82% 75.10%

Advertising Expenses 0.00% 0.00% 0.00% 0.61%

Profit Before Interest and Taxes 58.76% 44.69% 26.47% 3.98%

Main Ratios

Current 10.98 24.14 33.78 1.86

Quick 10.98 24.14 33.78 1.38

Total Debt to Total Assets 46.38% 20.78% 12.48% 10.80%

Pre-tax Return on Net Worth 135.84% 90.50% 44.29% 60.83%

Pre-tax Return on Assets 72.83% 71.69% 38.77% 27.59%

Addit ional Ratios Year 1 Year 2 Year 3

Net Profit Margin 38.81% 30.46% 18.00% n.a


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Appendix

Page 1

Table: Sales Forecast

Sales Forecast

Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12

Sales

Chiropractic Cases 0% $0 $6,250 $12,500 $18,725 $25,000 $31,250 $37,500 $43,750 $50,000 $56,250 $62,500 $68,750

Corporate Clients 0% $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500

Home Exercise Devices 0% $300 $350 $400 $400 $450 $500 $500 $500 $550 $550 $600 $600

Weight Loss System 0% $240 $240 $240 $240 $320 $320 $320 $320 $320 $400 $400 $400

Pillows 0% $180 $210 $240 $240 $270 $270 $300 $330 $330 $360 $360 $390

TENS Units 0% $360 $360 $360 $360 $360 $480 $480 $480 $600 $600 $600 $600

Total Sales $2,580 $8,910 $15,240 $21,465 $27,900 $34,320 $40,600 $46,880 $53,300 $59,660 $65,960 $72,240

Direct Cost of Sales Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12

Chiropractic Cases $0 $63 $125 $187 $250 $313 $375 $438 $500 $563 $625 $688

Corporate Clients $300 $300 $300 $300 $300 $300 $300 $300 $300 $300 $300 $300

Home Exercise Devices $138 $161 $184 $184 $207 $230 $230 $230 $253 $253 $276 $276

Weight Loss System $81 $81 $81 $81 $108 $108 $108 $108 $108 $135 $135 $135

Pillows $84 $98 $112 $112 $126 $126 $140 $154 $154 $168 $168 $182

TENS Units $87 $87 $87 $87 $87 $116 $116 $116 $145 $145 $145 $145

Subtotal Direct Cost of Sales $690 $790 $889 $951 $1,078 $1,193 $1,269 $1,346 $1,460 $1,564 $1,649 $1,726


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Appendix

Page 2

Table: Personnel

Personnel Plan

Mon th 1 Mo nth 2 Mo nth 3 Month 4 Month 5 Mon th 6 Mon th 7 Mon th 8 Mon th 9 Month 10 Month 11 Month 12

Angelo M. Ruban o, Jr. D.C. 0% $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $5,000 $6,000 $6,000 $7,500 $7,500 $7,500

Associate Dr. #1 0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Associate Dr. #2 0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Insurance Staff 0% $2,150 $2,150 $2,150 $2,150 $2,150 $2,150 $2,236 $2,236 $2,236 $2,236 $2,236 $2,236

Insurance Staff #2 0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Front Desk Staff 0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $2,150 $2,150 $2,150

Front Desk Staff #2 0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Chiropractic Assistant #1 0% $0 $0 $0 $0 $0 $0 $0 $2,580 $2,580 $2,580 $2,580 $2,580

Chiropractic Assistant #2 0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Chiropractic Assistant #3 0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Total People 2 2 2 2 2 2 2 3 3 4 4 4

Total Payroll $6,150 $6,150 $6,150 $6,150 $6,150 $6,150 $7,236 $10,816 $10,816 $14,466 $14,466 $14,466


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Appendix

Page 3

Table: General Assumptions

General Assumptions


Plan Month 1 2 3 4 5 6 7 8 9 10 11 12

Current Interest Rate 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%

Long-term Interest Rate 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%

Tax Rate 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00%

Other 0 0 0 0 0 0 0 0 0 0 0 0


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Appendix

Page 4

Table: Profit and Loss

Pro Forma Profit and Loss


Sales $2,580 $8,910 $15,240 $21,465 $27,900 $34,320 $40,600 $46,880 $53,300 $59,660 $65,960 $72,240

Direct Cost of Sales $690 $790 $889 $951 $1,078 $1,193 $1,269 $1,346 $1,460 $1,564 $1,649 $1,726

Other Costs of Sales $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Total Cost of Sales $690 $790 $889 $951 $1,078 $1,193 $1,269 $1,346 $1,460 $1,564 $1,649 $1,726

Gross Margin $1,890 $8,121 $14,351 $20,514 $26,822 $33,128 $39,331 $45,535 $51,840 $58,097 $64,311 $70,515

Gross Margin % 73.26% 91.14% 94.17% 95.57% 96.14% 96.53% 96.87% 97.13% 97.26% 97.38% 97.50% 97.61%

Expenses

Payroll $6,150 $6,150 $6,150 $6,150 $6,150 $6,150 $7,236 $10,816 $10,816 $14,466 $14,466 $14,466

Marketing/Promotion $1,667 $1,667 $1,667 $1,667 $1,667 $1,667 $1,667 $1,667 $1,667 $1,667 $1,667 $1,667

Depreciation $0 $386 $386 $386 $386 $386 $386 $386 $386 $386 $386 $386

Rent $0 $1,373 $1,373 $1,373 $1,373 $1,373 $1,373 $1,373 $1,373 $1,373 $1,373 $1,373

Utilities $0 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500

Insurance $0 $0 $0 $0 $0 $0 $154 $154 $154 $154 $154 $154

Payroll Taxes 15% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Office Supplies $0 $433 $433 $433 $433 $433 $433 $433 $433 $433 $433 $433

Legal Fees $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Accounting Fees $0 $100 $100 $100 $100 $100 $100 $100 $100 $100 $100 $100

Computer Technical Support $0 $60 $60 $60 $60 $60 $60 $60 $60 $60 $60 $60

XRay Film and Processor

Maintenance

$0 $175 $175 $175 $175 $175 $175 $175 $175 $175 $175 $175

Professional Organization

Membership

15% $0 $70 $70 $70 $70 $70 $70 $70 $70 $70 $70 $70

Employee Benefits Package $0 $585 $585 $585 $585 $585 $585 $585 $585 $585 $585 $585

Total Operating Expenses $7,817 $11,499 $11,499 $11,499 $11,499 $11,499 $12,739 $16,319 $16,319 $19,969 $19,969 $19,969

Profit Before Interest and Taxes ($5,927) ($3,378) $2,852 $9,015 $15,323 $21,629 $26,592 $29,216 $35,521 $38,128 $44,342 $50,546

EBITDA ($5,927) ($2,992) $3,239 $9,401 $15,710 $22,015 $26,978 $29,602 $35,907 $38,514 $44,728 $50,932

Interest Expense $1,348 $1,328 $1,309 $1,290 $1,271 $1,252 $1,233 $1,214 $1,195 $1,176 $1,157 $1,137

Taxes Incurred ($2,182) ($1,412) $463 $2,317 $4,216 $6,113 $7,608 $8,401 $10,298 $11,086 $12,956 $14,822

Net Profit ($5,092) ($3,295) $1,080 $5,407 $9,837 $14,264 $17,752 $19,601 $24,029 $25,866 $30,230 $34,586

Net Profit/Sales -197.36% -36.98% 7.09% 25.19% 35.26% 41.56% 43.72% 41.81% 45.08% 43.36% 45.83% 47.88%


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Appendix

Page 5

Table: Cash Flow

Pro Forma Cash Flow


Cash Received

Cash from Operations

Cash Sales $645 $2,228 $3,810 $5,366 $6,975 $8,580 $10,150 $11,720 $13,325 $14,915 $16,490 $18,060

Cash from Receivables $0 $65 $2,093 $6,841 $11,586 $16,260 $21,086 $25,897 $30,607 $35,321 $40,134 $44,903

Subtotal Cash from Operations $645 $2,292 $5,903 $12,207 $18,561 $24,840 $31,236 $37,617 $43,932 $50,236 $56,624 $62,963

Additional Cash Received

Sales Tax , VAT, HST/GST Received 0.00% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

New Current Borrowing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

New Other Liabilities (interest-free) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

New Long-term Liabilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Sales of Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Sales of Long-term Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

New Investment Received $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Subtotal Cash Received $645 $2,292 $5,903 $12,207 $18,561 $24,840 $31,236 $37,617 $43,932 $50,236 $56,624 $62,963

Expenditures Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12

Expenditures from Operations

Cash Spending $6,150 $6,150 $6,150 $6,150 $6,150 $6,150 $7,236 $10,816 $10,816 $14,466 $14,466 $14,466

Bill Payments $51 $1,660 $5,734 $7,687 $9,588 $11,594 $13,577 $15,255 $16,143 $18,098 $19,006 $20,942

Subtotal Spent on Operations $6,201 $7,810 $11,884 $13,837 $15,738 $17,744 $20,813 $26,071 $26,959 $32,564 $33,472 $35,408

Additional Cash Spent

Sales Tax , VAT, HST/GST Paid Out $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Principal Repayment of Current Borrowing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Other Liabilities Principal Repayment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Long-term Liabilities Principal Repayment $2,292 $2,292 $2,292 $2,292 $2,292 $2,292 $2,292 $2,292 $2,292 $2,292 $2,292 $2,292

Purchase Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Purchase Long-term Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Dividends $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Subtotal Cash Spent $8,493 $10,102 $14,176 $16,129 $18,030 $20,036 $23,105 $28,363 $29,251 $34,856 $35,764 $37,700

Net Cash Flow ($7,848) ($7,810) ($8,272) ($3,922) $530 $4,804 $8,131 $9,254 $14,681 $15,379 $20,860 $25,263

Cash Balance $61,152 $53,342 $45,070 $41,148 $41,678 $46,482 $54,613 $63,867 $78,548 $93,927 $114,787 $140,050


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Appendix

Page 6

Table: Balance Sheet

Pro Forma Balance Sheet

Mon th 1 Mo nth 2 Mo nth 3 Month 4 Month 5 Mon th 6 Mon th 7 Mon th 8 Mon th 9 Month 10 Month 11 Month 12

Assets Starting Balances

Curren t Assets

Cash $69,000 $61,152 $53,342 $45,070 $41,148 $41,678 $46,482 $54,613 $63,867 $78,548 $93,927 $114,787 $140,050

Accounts Receivable $0 $1,935 $8,553 $17,890 $27,14 8 $36,48 7 $45,968 $55,332 $64,595 $73,963 $83,388 $92,724 $102 ,001

Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Total Current Assets $69,000 $63,087 $61,895 $62,960 $68,296 $78,165 $92,450 $109,945 $128,462 $152,511 $177,315 $207,511 $242,051

Long -term Assets

Long-term Assets $104,000 $104,000 $104,000 $104,000 $104,000 $104,000 $104,000 $104,000 $104,000 $104,000 $104,000 $104,000 $104,000

Accumulated Depr eciation $0 $0 $386 $772 $1,158 $1,545 $1,931 $2,317 $2,703 $3,089 $3,475 $3,862 $4,248

Total Lo ng-term Assets $ 104 ,0 00 $10 4,000 $1 03,61 4 $1 03,22 8 $1 02 ,84 2 $1 02,45 5 $ 102 ,0 69 $ 101 ,6 83 $10 1,297 $10 0,911 $10 0,5 25 $ 10 0,1 38 $9 9,7 52

Total Assets $173,000 $167,087 $165,509 $166,187 $171,137 $180,621 $194,519 $211,628 $229,759 $253,422 $277,839 $307,649 $341,803

Liabilities and Capital Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12

Current Liabilities

Accounts Payable $0 $1,471 $5,479 $7,370 $9,204 $11,14 3 $13,069 $14,719 $15,541 $17,467 $18,310 $20,182 $22,042

Current Borrowing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Other Current Liabilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Subtotal Current Liabilities $0 $1,471 $5,479 $7,370 $9,204 $11,143 $13,069 $14,719 $15,541 $17,467 $18,310 $20,182 $22,042

L ong -term L ia bilitie s $ 164 ,0 00 $16 1,708 $1 59,41 6 $1 57,12 4 $1 54 ,83 2 $1 52,54 0 $ 150 ,2 48 $ 147 ,9 56 $14 5,664 $14 3,372 $14 1,0 80 $ 13 8,7 88 $ 13 6,4 96

Total Liabilities $164,000 $163,179 $164,895 $164,494 $164,036 $163,683 $163,317 $162,675 $161,205 $160,839 $159,390 $158,970 $158,538

Paid-in Capital $43,575 $43,575 $43,575 $43,575 $43,575 $43,575 $43,575 $43,575 $43,575 $43,575 $43,575 $43,575 $43,575

Retain ed Earnin gs ($3 4,575 ) ($ 34,575 ) ($ 34,57 5) ($ 34,57 5) ($34 ,5 75) ($34 ,5 75) ($3 4,575 ) ($3 4,5 75) ($3 4,575 ) ($3 4,575 ) ($3 4,575 ) ($3 4,575 ) ($3 4,575 )

Earnings $0 ($5,092) ($8,387) ($7,306) ($1,899) $7,938 $22,201 $39,953 $59,554 $83,583 $109,449 $139,679 $174,265

Total Capital $9,000 $3,908 $613 $1,694 $7,101 $16,938 $31,201 $48,953 $68,554 $92,583 $118,449 $148,679 $183,265

Total Lia bil itie s a nd Ca pital $ 173 ,0 00 $16 7,087 $1 65,50 9 $1 66,18 7 $1 71 ,13 7 $1 80,62 1 $ 194 ,5 19 $ 211 ,6 28 $22 9,759 $25 3,422 $27 7,8 39 $ 30 7,6 49 $ 34 1,8 03

Net Worth $9,000 $3,908 $613 $1,694 $7,101 $16,938 $31,201 $48,953 $68,554 $92,583 $118,449 $148,679 $183,265

accurate chiropractic

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