Accurate Chiropractic, LLC is a new company that provides patient-centered care, rehabilitation, and education to the following markets:
- Residents of our community injured in motor vehicle crashes and their families
- Chronic and acute back and neck pain sufferers and their families
- Members of the area’s work force that are injured on the job
As the business grows, we will bring on more providers to more readily facilitate our patients’ steps to wellness and fitness, and we will sell nutritional goods. Aside from treating injured workers, our goal will be to expand into the work related injury market and develop alliances with self insured companies on a consultant basis.
2.1 Start-up Summary
Our start-up costs are $207,575, which includes of concept research and development, business and marketing software, educational brochures, stationary, legal and accounting cost, office furniture 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 of motion 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 the purchase of equipment and working capital is shown as a long term liability. The assumptions are shown in the following table and chart.
|Research and Development||$6,000|
|800 Line Set Up Fees||$200|
|Computers and Software||$8,000|
|Print Advertising and Report Production||$1,000|
|Total Start-up Expenses||$34,575|
|Other Current Assets||$0|
|Start-up Expenses to Fund||$34,575|
|Start-up Assets to Fund||$173,000|
|Total Funding Required||$207,575|
|Non-cash Assets from Start-up||$104,000|
|Cash Requirements from Start-up||$69,000|
|Additional Cash Raised||$0|
|Cash Balance on Starting Date||$69,000|
|Liabilities and Capital|
|Accounts Payable (Outstanding Bills)||$0|
|Other Current Liabilities (interest-free)||$0|
|Start Up Cost Funded by Owner||$33,575|
|Additional Owner Capitol Investment||$10,000|
|Additional Investment Requirement||$0|
|Total Planned Investment||$43,575|
|Loss at Start-up (Start-up Expenses)||($34,575)|
|Total Capital and Liabilities||$173,000|
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 principal and founding member is Angelo M. Rubano, Jr. D.C.
Dr. Angelo M. Rubano, Jr. is a 1993 graduate of Life Chiropractic College in Marietta, Ga. After receiving his license to practice chiropractic medicine from the State of New Jersey in March of 19941 he immediately went into private practice as a junior partner of Adams Chiropractic Center in Wall, N.J. where he continued until 1999. During that time, he also was co-owner of The Pain Relief Center in Edison, N.J. In May of 2000 Dr. Rubano gave up his partnership with Adams Chiropractic and purchased The Pain Relief Center for $20,000, renaming the clinic Accurate Health and Wellness LLC. After producing increased revenues over the past three years, Dr. Rubano sold this practice for $124,000. Dr. Rubano received his license to practice chiropractic medicine in the State of Florida in May of 2003 and became certified by the state as a workers’ compensation provider in September of 2003.1
In addition to providing care to those injured in work and motor vehicle related accidents Dr. Rubano has also been called upon to function as the physician for college and professional sports teams, Fortune 500 companies, and the president and founder of one of the largest ministries in the Northeast United States.2 He has been utilized as a consultant and as a witness in personal injury cases because of his expertise in the area of Low Speed Rear Impact Collisions. Dr. Rubano served as president of Letip of Middlesex County3 for 2 years (maximum allowable term) and on the board of directors of the organization for 5 years. He was named an Elder of Faith Fellowship Ministries World Outreach Center, a 12,000 member church in Sayerville, New Jersey in 1998. He will continue in this role at the church’s Faith International Training School and Faith Fellowship World Outreach Ministries Church in Fort Myers, Florida. In this capacity he has helped the church organize its outreach ministry through home bible studies, and large gatherings such as the Great Big Event, in which he personally performed 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 local chapters throughout the country.