Finding the balance | A conversation with Kimberly Farr, owner of Farr Horizons Health Center in Falmouth
Photo/Michelle Hammarstrom
Kimberly Farr, owner of Farr Horizons Health Center in Falmouth
Founded: August 2008
Employees: Two office staff members and two massage therapists (both independent contractors)
Startup costs: $35,000
Projected revenue, year one: $190,000
Projected revenue, year two: $235,000
Contact: 781-4640
17 Foreside Road, Falmouth Foreside
What do you do at Farr Horizons Health Center?
We wanted to offer a personalized wellness approach — very comprehensive, drug-free and in a calming atmosphere. We offer chiropractic care, massage therapy, Reiki, myofascial release techniques, nutritional counseling and orthotics.
I’ve been in practice since 1992, originally in Yarmouth for 11 years. In 2003, I took two years off after the birth of my second child and then went to a multi-doctor practice in 2005 for another two-and-half years, when I decided to branch off on my own so I’d have more flexibility.
How do you market Farr Horizons?
All referral. We’ve done some occasional print advertising in the Forecaster [weekly newspaper] and in [The] Notes [weekly magazine] but it’s almost all referral sources. We also offer an internship/residency program for Maine Medical and [University of New England] students to observe integrated health practices, so it helps to show some medically oriented people another approach. And many of them are incredibly interested in this arena in their own medical practices.
How did you finance the start of this business?
Through Bank of America, with a small business loan.
Is this your first time starting a business?
No, my first practice I purchased right out of chiropractic school in 1992 and that was in Yarmouth on Main Street. We offered chiropractic, acupuncture and I had massage therapy there as well.
What did you learn running that business that you’ve carried over?
A lot. I purchased it from another doctor and I paid way too much money and I learned that I should’ve started a lot smaller and built up over time. The startup [cost] was way too high, I think, and that’s why the second time it wasn’t anywhere close to that.
What are the most important steps you need to take to have a successful health care business?
First you need to be passionate about what you do, knowledge is definitely key, and [so is] compassion for the patient. It’s result-oriented as well, when a patient gets good results they refer quickly and they’re very loyal. They find someone they like and they stick with you. I’ve had some of the same patients for 16 years. Trust your gut instinct and learn as you go, learn from your mistakes, definitely seek professional help in areas such as accounting and advertising, and be open and willing to branch out into new areas within your field.
What’s been the greatest challenge running Farr Horizons?
One of the toughest challenges I think is starting up again: the flow of organization, coordinating the phone system, making sure computers are networked. There were a lot of glitches — growing pains, so to speak. This time it was much more streamlined though, compared to the first time. My toughest challenge was finding the right location. It took me three or four months of really looking to find exactly the right spot and the day I found this spot I took it and signed the lease within two days.
What are your goals for the future of your business?
I’m expanding a nutritional line of Isotonix [food supplements], we’re probably going to expand into some high-quality skincare as well. I also want to offer some energy work for stress relief. Within two years I can expand within this building if I want and I could offer exercise, other types of therapists, maybe a psychologist or an aesthetician. I don’t think you need more employees to be better. I don’t want to get too big for my britches. I only work about 27 hours a week and I don’t want to get burned out — balance is key.
In two years, I’d hire one more full-time office person and add at least one more part-time massage therapist. I probably have about 2,000 patients now that I’m continuing to build up from the 4,000 I had previously. I got to the place in my previous practice where I closed it to new patients because it got to be too much. You have to find the right balance.
Interview by Mercedes Grandin
New Ventures profiles young businesses, 6-18 months old. Send your suggestions and contact information to editorial@mainebiz.biz.
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