Physical Therapy Business Plan Template [Updated 2024]

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V. Competitive Analysis

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Direct & Indirect Competitors

The following businesses are located within a 10-mile radius of [Company Name], thus providing either direct or indirect competition for customers:

Let’s Get Physical

Let’s Get Physical provides physical therapy utilizing a highly-skilled team of physical therapists that are 100% focused on helping the patient achieve optimal health and wellness. Considered a leader in the health and wellness space, the business provides private practices with business systems, operational support, clinical education, and their proprietary technology and protocols. Let’s Get Physical provides their patients with wellness programs and clinical care in: Fall Prevention, Orthopedic, and Vestibular Rehabilitation.

In addition, Let’s Get Physical provides orthopedic rehabilitation, balance therapy, fitness and wellness, occupational therapy, pelvic therapy, neurological rehabilitation, audiology, and other specialty services such as foot, laser, massage, myofascial, and aquatic therapy. The clinic prefers to utilize a holistic, whole-body approach to connect the patient’s diagnosis with a customized plan of care.

In order to be seen at Let’s Get Physical, a patient must have a referral from a doctor.

Complete Physical Wellness and Rehab

Complete Physical Wellness and Rehab is an outpatient physical therapy clinic that serves pediatric and geriatric patients in the area. They focus on the pain in order to regain optimum function of the affected areas in order to improve the quality of life for the individual.

As an independent clinic that was opened by a team of prior physical therapists, the clinic provides the following services:

  • Lymphedema Treatment
  • Dry needling
  • Pain management
  • Pediatric physical therapy
  • Geriatric physical therapy
  • Orthopedic conditions
  • Neurologic conditions
  • Musculoskeletal conditions
  • Reconditioning
  • Wellness program

Spine & Rehab

Spine & Rehab is the oldest of the local physical therapy clinics in [location]. Established in 1997, the company has been treating patients in the community for over 20 years. Owned by a husband-and-wife team of physical therapists, the company offers the following services:

  • Orthopedic rehabilitation
  • Sports medicine
  • Functional dry needling
  • Vestibular rehab
  • Concussion management
  • Aquatic therapy
  • Workers’ compensation
  • Musculoskeletal ultrasound imaging

In addition to the above services, Spine & Rehab of [location] carries the following specialized equipment – Alter G, Biodex, Repex, HydroWorx 500, and a multi cervical unit.

While the business does accept most insurances, they are well known to be booked for months in advance. If they are a patient that is not regularly seen by them, they will not be able to be seen by a therapist for months.

Competitive Advantage

[Company Name] enjoys several advantages over its competitors. Those advantages include:

  • Location: [Company Name]’s location is near the center of a highly populated and newly established neighborhood. There are multiple doctors offices and a hospital within a 5-mile radius. We also offer adequate parking that makes it easy for patients to visit us. They will not have to go through a parking garage or park blocks away that will make it inconvenient for them.
  • Superior therapy with no long waiting times: [Company Name] will prioritize the patient’s time spent and realize that it is valuable. All patients will have no waiting time and will receive an appointment within 2 – 3 days of calling to schedule an appointment. We realize the patient is in extreme pain and the sooner they receive therapy services, the better.
  • Management: The owner has years of physical therapy experience that will allow him to serve patients in a much more sophisticated and professional manner than the competition. Each patient will receive at least a consult by the owner and he will be heavily involved in each patient once they are assigned to a qualified therapist on his team.
  • Equipment: [Company Name] will invest heavily on the latest advancements in the physical therapy industry and will provide the latest technology to each patient that may benefit from it.
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