Owasso Family Chiropractic

Dr. Coleton Oakes, a chiropractor at Owasso Family Chiropractic in Owasso, Oklahoma, recently began exploring the purchase of the practice where he had established his career. After learning that colleagues had successfully opened practices with assistance from the Oklahoma Small Business Development Center, Oakes contacted longtime Oklahoma SBDC Business Advisor Susan Urbach for guidance.

Purchasing an established practice offered Oakes several advantages over launching a new business. His experience within Owasso Family Chiropractic had already provided him with a thorough understanding of its operations, workplace culture and patient base. The practice’s experienced staff also offered continuity and stability as he prepared for the transition to ownership.

Oakes also benefited from the support of family members with experience managing medical practices. Their insight, combined with his familiarity with the business, provided a strong foundation as he evaluated the financial and operational considerations involved in the purchase.

Through the Oklahoma SBDC advising process, Oakes received an objective assessment of the opportunity from an advisor experienced in working with health care professionals and other business owners. The review provided greater clarity and helped confirm that purchasing the practice was both feasible and strategically sound.

As Oakes moves forward with the acquisition, he brings firsthand operational knowledge, an established patient community, an experienced team and a strong network of professional and personal support. His experience illustrates how objective guidance and careful preparation can help emerging professionals navigate significant business decisions and position themselves for long-term success.

“With the help of the Oklahoma SBDC and Susan, we were able to devise a game plan for securing assets to purchase the business,” says Dr. Oakes. “I would recommend them for all young, new business owners”