Renewed Balance Health and Wellness Center Business Profile

Starting your first small business is exciting, but also very challenging.  John Schori will certainly attest to that.  John was just completing his chiropractic schooling in December 2011, and he was determined to open his own practice as soon as possible.  He came to ECC’s Illinois Small Business Development Center with business plan in hand.

Over the next few months, John visited the ISBDC to review his business plan revisions.  He revised, and revised, and revised that plan, looking for the best way to start his new enterprise professionally, yet economically.  He knew he needed some funding assistance, but finding a bank that would be receptive to a start-up chiropractic business was the challenge.  Still fresh from college, he understood, first of all, that writing an A plus business plan would be essential.  Second, he wanted to keep the start-up and recurring costs down.  And third, he did not want to inflate his revenue projections (a trap all start-ups fall into initially).

Once John had achieved the most realistic projections, he started visiting banks in the area.  By this time, he cognized that a small loan would not likely be in the cards, so instead he searched for a bank willing to offer him a business credit card that had a reasonable credit limit.  After shopping around, he found a lending institution he felt he could work with.  Having a strong relationship with a business banker should not be underestimated.  You are likely to use their other business banking services over time, so a strong working relationship is critical.

We can finally report that John opened his practice in May 2012.  It’s called Renewed Balance Health and Wellness Center, at 2175 Point Blvd, #170, in Elgin, near the intersection of Route 90 and Randall Road.  He will be hosting a grand opening celebration, open to the general public, on Saturday, July 21, 2012, 11am – 2pm.  Call 847-396-6584 for more information.

“Working with the SBDC has been a great experience! Their friendly staff, helpful resources, and knowledgeable guidance have been a vital part in starting my new business.”  - Dr. John Schori