3 BIG Ways To Save Money When Starting A Private Practice For Therapy

Posted on: 16 April 2019

You've made it to a point in your career where you feel confident about starting a therapy private practice. This is a wonderful occasion! You now get to branch out on your own and create a practice that operates in the ways that you prefer instead of having to abide by the rules of someone else. As exciting as it may be to start your very own private practice, this is not a business endeavor that will happen without a fairly large investment on your part. From investing in office furniture to paying fees to establish your own business, you can be left forking over a pretty substantial investment. Here are a few logical ways to help you lessen your expenses. 

Consider operating a practice out of a home office. 

It is understandable to want to keep work and home life separate, so a lot of therapists looking to branch out on their own will go out and rent an office space right off the bat. However, this is not always a necessity. If you have an office in your home that has its own private entrance, it can be good to start here first, at least until you get over the initial bump of making so many investments in everything else. Just utilizing a home office for as little as six months could save you a hefty sum of cash that could be designated to other things. 

Buy used office furniture to outfit the new space. 

There's no reason to go out and spend a boatload of cash on brand-new furniture; the people who come in to see you won't know the difference. It is much more financially logical to buy used furnishings when you are first starting out. You can pick up things like a used desk, chairs for your clients, and even office decor for a lot less than what you can buy things new. 

Start out on a part-time basis instead of full-time. 

The longer you are spending in your new office, the more expenses you will rack up, and the less time you will have to dedicate to other things to supplement your new business, which may be necessary until you build up a healthy stream of regular clients. It is not a bad idea to start out with part-time work and gradually work up to a more full-time business with standard hours of operation.