How To Start A Successful Private Practice Without Breaking The Bank

Today we are going to show you the tools on how to save as much as possible while starting a successful private practice.

Don’t let this be you when starting your own private practice. We are going to present you with a couple of money-saving ideas for when you’re opening your new private practice.

burning money

The cost of starting a private practice tends to be where a lot of people get hung up. It can be extremely intimidating and has a way of keeping healers locked into practices they aren’t happy with.

That is why we are going to give you some tips on how to save as much as you can when starting your own succesful private practice.

The first tip we have is for someone who isn’t licensed yet. 

Take an internship. 

Most states will allow you to practice as an intern with only liability insurance. Every state is different, so make sure you check all of your laws to confirm that you will be following the rules.

Practicing as an intern could help you start to build some clientele as well as start working while you are waiting on everything to come through.

Because this is an internship, you’ll want to keep in mind that most students who take internships aren’t paid. If you are paid, consider yourself lucky, even if it doesn’t pay as much as you hope to someday make.

Most supervisors will take a big cut of your hourly rate, but most states have laws in place that won’t allow them to charge you for anything else. So if your supervisor does take a cut, that and the cost of your internship should be the only costs during this time.

Successful Private Practice

Get your successful private practice going from home

Offer all your services via teletherapy. You will have to have a quiet safe space to practice from in your home.

We have that blog linked right here.

If you don’t have an area in your home, you can always rent a very small space that is just big enough for a desk and has fast internet access. The money you save on all the overhead costs of having an office can be a huge help when you are trying to build your private practice.

There are some costs of doing teletherapy, but they’re exceptionally low, especially compared to the cost of an office to see clients in-person.

Remember, you will need to follow HIPAA guidelines for the platforms you use.

We do recommend you have a great website set up that utilizes SEO

or search engine optimization.

Remember, you can always click here to have us create you that perfect custom website. Using SEO best practices on your website will give you free marketing for your business.

SEO only works if you are adding content to your website consistently. The best part of SEO is that it’s free.

It may take some of your time to create the content, but it’s not costing you any money. 

Free marketing

Marketing should be your new best friend if you are starting a business.

Prospective clients lack the ability to discover your practice if you aren’t actively marketing.

The best tips we can give you here are, build a website utilizing SEO, then constantly be creating content, by posting blogs using keywords to ensure you stay at the top of Google. Additionally, you can run some ads as well to bring in new clients.

Here is a link to our blog on SEO keywords if you need that broken down better for you!

This next tip is going to sound a bit crazy, so follow me down the rabbit hole here.

Rabbit hole

Start a waitlist months before you open your successful private practice.

See, I told you it was going to sound a bit crazy. Let’s break this down some.

SEO though it’s free… IT’S SLOW. It takes about 3-6 months to update in Google.

Basically this means you can have your website perfectly formatted with keywords related to you everywhere, constantly creating new content, but for some odd reason you aren’t showing up on the search page.

You have to be tolerant of Google. They run on a slower process.

Start advertising your practice MONTHS in advance. That way as you are using your keywords and creating content you are getting the ball rolling for ending up on the first page.

Have a clear area where you would like prospective clients to be able to contact you and give them a ballpark of when you plan to open your doors to start seeing them, creating your waitlist.

This way when your doors are open you have a list of clients ready to fill up your practice and make it successful from day one.

You can sublet a therapist’s office by the hour

if you feel the need to start seeing clients immediately and hate the idea of a waitlist. This is a really cost-efficient way to start seeing clients face to face.

The best way to go about finding an office that you may be able to sublet is reaching out to your network. Some of your friends may know someone who may be open to the idea.

If you aren’t having any luck with this route you can research local therapists in your area and pitch the idea of renting their space out. Remember you never know until you ask.

Keep a thick skin with this process and don’t be upset by rejection.

These are some of our best ideas to help save money while starting up your private practice.

Leave us comments on other ways you have found that helped you save a couple of dollars.

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