Are you considering starting up your own practice? If so, you may have these questions:
- What is the process of starting up a practice?
- How much will I need to borrow from the banks?
- How long before I can become profitable?
- How do I best obtain financing?
- How do I create a workable business plan?
- How should I hire and what rates should I pay my staff?
- Should I be set up as a sole proprietor, LLC, corporation, or partnership?
- How do I properly negotiate with a landlord?
- How do I account for my expenditures?
PracticeCFO has a specific road map for helping doctors start up a practice. We help you develop a business plan, forecast cash flows, establish compensation structures, obtain financing, and form your legal entity. Additionally, we do so at a very low cost point to help you get started.
The benefits to you include:
- Feel confident having a financial partner with you from the beginning.
- Avoid costly mistakes.
- Understand your finances and what expenditures are appropriate and what expenditures are not.
- Determine what is an appropriate personal living budget during the start up period.
- Know you formed the appropriate legal entity for your practice