With years of experience in chiropractic healthcare, Dr. Noah Banks wanted to explore the possibility of opening and running a solo practice. He first learned about the services Small Business Development Centers offer through a friend and fellow chiropractor in another state. Discovering the Arkansas Small Business and Technology Development Center At the U of A, he asked for help.
Mary Beth Brooks, ASBTDC director and business consultant, began advising Banks on choosing her location. Using market research, the industry-specific report provided a ranking of two locations in different demographic categories. Data on population, median household income and chiropractic services helped Banks decide the best location for a clinic in Bentonville.
Once the location was identified, the discussion focused on financial projections, financing options and strategy. “The ASBTDC team was an incredible resource for me because they acted as my sounding board for my plans regarding overhead, applying for a loan, and developing a business plan,” Banks said. “I was thrilled to have Mary Beth’s expertise at my disposal throughout this entire process.”
Financing for the clinic was completed with a combination of a loan, a line of credit and personal savings. “Mary Beth was a huge help to me because she has a lot of experience in the banking industry,” Banks said. “She had been involved in the loan process a million times, so she knew what I needed and didn’t need in my business plan.”
While the clinic opened as a solo practice, Brooks looked to the future and provided Banks with an ASBTDC portfolio of human resources shortcuts for interviews, employees vs. contractors, job descriptions, checklists for new hires and onboarding.
Dr. Noah Banks Chiropractic and Wellness Opened in May 2024, it offers individualized, results-based chiropractic care as a remedy for pain and restoration of health. With a focus on efficiency and first-class service, the clinic accepts health insurance and works with the uninsured. The use of cutting-edge, gentle and targeted chiropractic techniques allows for the treatment of patients throughout the lifespan, from newborn babies to osteoporotic geriatric patients.