If you are looking to start a mental health care business all you need is a room where you can hold your therapy sessions but rents for good places cost money. Then why break your head about the finance options to set up your therapy practice? No matter what your exposure to the business sector is, you would probably understand that having the right source of funds like binary option robot for instance is one of the most important requisites.
Here are some reasons you need the right source of funds for your therapy clinic business:
This would include setting up your therapy room on the whole. Take into consideration your office, required equipment like PC, comfortable furniture for you and your patients, and lots more.
Current costs and expansion costs:
For daily sessions, your day to day expenditure would also have to be included. Also if you are looking to appoint an assistant, payroll costs should be included.Next, comes the time you wish to expand your office, like say, adding a waiting lounge, a larger therapy clinic, and inquiry desk!
Documents and processing:
Even before you begin your actual practice, you would require separate funds for your licensing procedure to set up the actual clinic and establish your therapy practice.
Before you approach a lender:
Here are some ways to prepare yourself before you actually apply for a loan. This would help your loan application process proceed smoother and quicker.
Have a well-defined business plan. Any investor or lender would like to know about what he is lending the money for. Having a clear business plan would help your lender understand how clear you are with your goal and thus would ensure him that he would be able to get back his money in time.
Keep records of your previous tax returns and financial records for the previous few years. This would also help your lender understand your finance management skills.
Sources of funds:
Once you are ready with all the requisites, here are some ways to finance your mental health clinic business:
Take out money from your savings. This would reduce the loan amount you require. But you would lose your safe reserve. So if you have an action plan to tackle your finances accordingly, this is one good option.
Home equity loans:
If you own a home, obtaining a home equity loan would be easier. Any lender would be ready to loan against collateral. The interest rate would also be pretty less in this case. But remember that if you are unable to pay back your loan you would lose your home.
In the initial days of establishing your practicing, one other wise way is to set up a shared clinic with another therapist. This way you would be able to share the expenses and then once you have established your practice, you can later proceed for a private clinic.
Crowd funding is where random people are willing to invest in business either to get returns or in the form of charity. There are websites where you could apply for crowdfunds with a clear business plan. Prospective investors would get in touch with you then.
There are other options like opening a line of credit and small business loan lending agencies. All these come with their own risks and payment terms. Weigh your options to pick the best one.
Overview Preliminary Programme
We prepared the preliminary programme for the IFPE.
Wednesday, June 5th
Thursday, June 6th
Friday, June 7th
Saturday, June 8th
You can download an programme overview here or you can download the detailed final programme here.