ASSIGNMENT 1: OVERVIEW OF INDUSTRY

The objective of this Assignment is to understand the scope and direction of the industry your
business will operate in and research any regulations licenses/permits required for proper
operations.
Based on resources introduced during Market Research, identify your industry NAICS Code and
describe main characteristics of your industry. This worksheet will help you collect information
needed for:
VALIDATION PROCESS COMPETITOR ANALYSIS (to be completed in Assignment 2)
BUSINESS PLAN BUSINESS DESCRIPTION & CUSTOMER SEGMENTS section
1. Identify the NAICS Code of your Industry ( North American Industry Classification
System used to classify business establishments and give lead you to data and statistics
and information relevant on your industry in economic terms)
The code from NAICS is 62130. The code describes the chiropractic industry as
comprising establishments primarily engaged in the private or group practice of
chiropractic medicine.
Chiropractors provide diagnostic and therapeutic treatment of neuro-musculoskeletal and
related disorders through the manipulation and adjustment of the spinal column and
extremities.

2. What industry are you in? What are the trade association (s) for your industry? Do they
have a website? Identify at least one periodical or magazine specific to your industry? What
trade shows are there in your industry?
The industry that I am involved in is chiropractic medicine. Our trade association is the
Canadian Chiropractic Association (CCA). Attached is a direct link that can be used to
reach their website (https://www.chiropractic.ca/). Canadian Chiropractor is a magazine
available to all chiropractors, which encompasses information about research, legalities,
and different seminars around Canada. In regards to trade shows available, there is the
CCA National Convention and Tradeshow, which is scheduled for April 27-29 in Calgary.

3. What is the size of your industry (in $, number of companies, workforce, etc.) and
geographic scope (i.e. Toronto, GTA, Ontario, etc.). What are the industrys growth
pattern? Depending where you set up your business you will want to first look at the
industry in the country you will operate and then the local area with respect to statistics
and data you can find that support your business operation. Be specific about the
geographic area being researched and reported on for this entire question.
As of right now, there are 1042 chiropractors in Alberta. In regards to utilization, there is a
24% utilization rate per year, being one of the highest in most parts of the world. There is
an expected increase in both chiropractors and its usage within the next 10 years. This is
great news as a future graduate planning on practicing back in Calgary. Chiropractors in
Alberta can except to be making $40,966-126.987 when they enter the work force
depending on their connections within the city. Some sources state that there are
approximately 100 clinics in Calgary.

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 4. What are the current trends (both societal and market) in your industry? (3 main qualitative
and/or quantitative trends). Are there any niche markets etc?
NOTE: If you need to use industry sources, e.g. industry publications, newsletters, or
other to determine the trends, please reference the sources as well.

Qualitative trends in the chiropractic industry include but are not limited to:
- Higher focus on individualized patient treatment plan
- Improved interprofessional relationships
- Incorporation of NetCare to facilitate ease in accessing patient data bases

Quantitative trends in the chiropractic industry include but are not limited to:
- An expected further increase in utilization of chiropractors
- An increase in the number of practicing chiropractors in Alberta
- An increase in the number of multidisciplinary clinics in Alberta

5. Is your industry in growth or decline? Please elaborate.

As of right now, the chiropractic industry is in a state of growth. This is greatly in part due
to the health care coverage that Albertan citizens have at their disposal for such care.
Additionally, people are beginning to focus more on their health and choosing alternative
treatment options instead of taking medication. With a provincial health reform coming up
in the next few years, there is an expected increase in the funding that will go towards
chiropractic treatment, which will ideally increase the utilization rate.

6. How has the industry developed? Do small or large clinics dominate the industry? How
well do small business prosper in the industry? How does your business fit into the
industry? (you may have a niche or an offering different from your competition)
In the earlier years, the industry was mostly populated with small clinics. As the years
have gone by and there has been an increased emphasis for interprofessional care, there
has been a shift to larger clinics. These clinics usually include chiropractic, physiotherapy,
massage therapy, kinesiologist, and acupuncturists, to name a few. The business that I am
wanting to get involved with is a multidisciplinary one, similar to what was stated above.
With joining a busy clinic and having multiple connections through friends and family, I
will hopefully be able to make a good start up wage for myself

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 7. What are the regulations in your industry? Do you require any special licenses or permits?
Specify if required (indicate if you have it; if not, detail cost and timelines) How do
government regulations, current political, social economic, environmental and
technological tends affect your business?

Regulations within the chiropractic profession in Alberta doesnt really differ from that of
other provinces. Certain regulations include being registered at an appropriate provincial
college (Alberta College and Association of Chiropractors or ACAC), having successful
completion of national board exams, carry a Doctor of Chiropractic degree, have
appropriate liability insurance, etc. Registration with the college should be done as soon as
possible after graduation as it may take some time to process the paperwork before you
begin practicing. The state of chiropractic from a social standpoint is usually divided. It is
common to have a good base of patients who live strongly by chiropractic and those that
oppose it. For the most part, there is a general positive upswing. As stated above, based on
the amount of coverage that patients receive, there is not much of a concern seen here.
Technology has played an important role in regards to improving chiropractic care through
the advent of different techniques as well as computer software to organize patient
information.