How can I check a speech therapy clinic’s waitlist to see real demand?
Ask for the waitlist with sign-up dates, referral sources and outcomes, then see how many people on it become clients. A long list means demand only if the people on it are real, current and still waiting. Check the list is recent.
A waitlist can look impressive and tell you little. Ask for the full list with the date each person joined, how they were referred, what service they need and what happened to them. Count how many were offered an appointment, how many accepted and how many dropped off. Names that sit there for a long time without any contact may not be real demand.
Then ask why the list exists. Is it because the clinic lacks therapists, rooms or hours? If staff are the limit, the demand may depend on hiring, and you should check how hard that is. If rooms are the limit, read the lease to see whether the space can grow. If the clinic simply has more enquiries than it can serve, ask whether it has ever turned away work and whether referral partners noticed.
Look at the source of referrals, too. A few schools or doctors sending most families is a different kind of demand from many separate enquiries. Ask your accountant to compare the list with appointments and revenue, so what you read as demand also shows up as paid sessions. Finally, ask how families are treated while they wait. Does the clinic stay in touch, offer home exercises or refer elsewhere? A well-kept list shows organized management, and a neglected one suggests that some of the apparent demand has already gone elsewhere.
Key takeaways
- Ask for sign-up dates, referral sources and outcomes.
- Count how many on the list became clients.
- Find out whether staff, rooms or hours limit growth.
- Note which referral sources send the most families.
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Sources
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- 01Business Development Bank of CanadaGovernmentHow to conduct due diligence when buying a business
- 02Business Development Bank of CanadaGovernmentWhat are the steps to buying a business?
- 03Business Development Bank of CanadaGovernmentAfter buying a business, what is the next step?
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