I was asked the other day if family practices work out. Sometimes a family practice can be a wonderful thing. Working along with your spouse can be great. Having your kids in practice with you can be fun and bring you all together. Or not.
Horror stories abound:
The sister-in-law who embezzled over $10,000 from the practice then walked away because the owner was not willing to prosecute.
The father who treated his doctor son like slave labor, paying him less than minimum wage.
The kids who left the practice taking everything that wasn't nailed down, and some things that were (!)
Read my story in Chiropractic Economics and think carefully before you ask your brother-in-law to do your taxes for you. http://www.chiroeco.com/article/2006/Issue11/PM3.php
Read Planning for Practice Success for practical information on starting and operating a practice.
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