Counseling Private Practice Business Plan Template
Written by Dave Lavinsky
Counseling Practice Business Plan
Over the past 20+ years, we have helped over 500 entrepreneurs and business owners create business plans to start and grow their counseling private practices. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through a counseling private practice business plan template step-by-step so you can create your plan today.
Download our Ultimate Business Plan Template here >
What Is a Business Plan?
A business plan provides a snapshot of your counseling private practice as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans.
Why You Need a Business Plan
If you’re looking to start a counseling private practice, or grow your existing counseling private practice, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your counseling private practice in order to improve your chances of success. Your business plan is a living document that should be updated annually as your company grows and changes.
Sources of Funding for Counseling Private Practices
With regards to funding, the main sources of funding for a counseling private practice are personal savings, credit cards, bank loans and angel investors. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business. Personal savings and bank loans are the most common funding paths for counseling private practices.
How To Write a Business Plan For a Counseling Private Practice
If you want to start a counseling private practice or expand your current one, you need a business plan. Below are links to each section of your counseling private practice business plan template:
Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.
The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of counseling private practice you are operating and the status. For example, are you a startup, do you have a counseling private practice that you would like to grow, or are you operating a chain of counseling private practices?
Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the counseling private practice industry. Discuss the type of counseling private practice you are operating. Detail your direct competitors. Give an overview of your target customers. Provide a snapshot of your marketing plan. Identify the key members of your team. And offer an overview of your financial plan.
In your company analysis, you will detail the type of counseling private practice you are operating.
For example, your counseling private practice might specialize in one of the following divisions:
- Clinical psychology : this type of counseling private practice assesses, diagnoses, treats, and prevents mental disorders. Specialization within clinical psychology may focus on areas such as neuropsychology, geropsychology, child psychology, etc.
- Industrial-organizational psychology: this type of counseling private practice specializes in applying the principles of psychology to the workplace, to assist with a range of HR issues such as employee retention or productivity.
- Marriage and family therapy: this type of counseling private practice is licensed to diagnose and treat mental and emotional disorders within the context of marriage, couples, and family systems.
- Social work: this type of counseling private practice includes services such as individual and group therapy, crisis intervention, and child and family counseling.
In addition to explaining the type of private practice you will operate, the Company Analysis section of your business plan needs to provide background on the business.
Include answers to question such as:
- When and why did you start the business?
- What milestones have you achieved to date? Milestones could include the number of patients served, number of cases with positive outcomes, reaching X number of clients served, etc.
- Your legal structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.
In your industry analysis, you need to provide an overview of the counseling private practice industry.
While this may seem unnecessary, it serves multiple purposes.
First, researching the counseling private practice industry educates you. It helps you understand the market in which you are operating.
Secondly, market research can improve your strategy, particularly if your research identifies market trends.
The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.
The following questions should be answered in the industry analysis section of your private practice business plan:
- How big is the counseling private practice industry (in dollars)?
- Is the market declining or increasing?
- Who are the key competitors in the market?
- Who are the key suppliers in the market?
- What trends are affecting the industry?
- What is the industry’s growth forecast over the next 5 – 10 years?
- What is the relevant market size? That is, how big is the potential market for your counseling private practice ? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.
The customer analysis section of your counseling practice business plan must detail the customers you serve and/or expect to serve.
The following are examples of customer segments: individuals, schools, families, and corporations.
As you can imagine, the customer segment(s) you choose will have a great impact on the type of private practice you operate. Clearly, individuals would respond to different marketing promotions than corporations, for example.
Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, include a discussion of the ages, genders, locations and income levels of the customers you seek to serve.
Psychographic profiles explain the wants and needs of your target customers. The more you can understand and define these needs, the better you will do in attracting and retaining your customers.
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Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.
Direct competitors are other counseling private practices.
Indirect competitors are other options that customers have to purchase from that aren’t direct competitors. This includes psychiatrists, other healthcare providers, or members of the clergy. You need to mention such competition as well.
With regards to direct competition, you want to describe the other counseling private practices with which you compete. Most likely, your direct competitors will be counseling private practices located very close to your location.
For each such competitor, provide an overview of their businesses and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:
- What types of customers do they serve?
- What type of counseling private practice are they?
- What is their pricing (premium, low, etc.)?
- What are they good at?
- What are their weaknesses?
With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.
The final part of your competitive analysis section is to document your areas of competitive advantage. For example:
- Will you provide options for the uninsured?
- Will you provide services that your competitors don’t offer?
- Will you provide better customer service?
- Will you offer better pricing?
Think about ways you will outperform your competition and document them in this section of your plan.
Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a private practice, your marketing plan should include the following:
Product : In the product section, you should reiterate the type of counseling private practice company that you documented in your Company Analysis. Then, detail the specific products you will be offering. For example, will you provide psychodynamic therapy, behavior therapy, cognitive therapy, or integrative therapy?
Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your marketing plan, you are presenting the services you offer and their prices.
Place : Place refers to the location of your counseling private practice company. Document your location and mention how the location will impact your success. For example, is your counseling private practice located in a busy retail district, a business district, a standalone office, etc. Discuss how your location might be the ideal location for your customers.
Promotions : The final part of your counseling private practice marketing plan is the promotions section. Here you will document how you will drive customers to your location(s). The following are some promotional methods you might consider:
- Advertising in local papers and magazines
- Reaching out to websites
- Social media marketing
- Local radio advertising
While the earlier sections of your therapy business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.
Everyday short-term processes include all of the tasks involved in running your counseling private practice, including answering calls, planning and providing therapy sessions, billing insurance and/or patients, etc.
Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to book your Xth session, or when you hope to reach $X in revenue. It could also be when you expect to expand your counseling private practice to a new city.
To demonstrate your private practice’s ability to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.
Ideally you and/or your team members have direct experience in managing counseling private practices. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.
If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act like mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in managing a counseling private practice or successfully running a small medical practice.
Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet and cash flow statements.
Income Statement : an income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.
In developing your income statement, you need to devise assumptions. For example, will you see 5 patients per day, and/or offer group therapy sessions? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.
Balance Sheets : Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $50,000 on building out your counseling private practice, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $50,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.
Cash Flow Statement : Your cash flow statement will help determine how much money you need to start or grow your business, and make sure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt.
In developing your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a private practice:
- Cost of computer software.
- Cost of furniture and supplies
- Payroll or salaries paid to staff
- Business insurance
- Taxes and permits
- Legal expenses
Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your office location lease or a list of insurance plans you accept.
Putting together a business plan for your therapy private practice is a worthwhile endeavor. If you follow the template above, by the time you are done, you will have an expert counseling private practice business plan; download it to PDF to show banks and investors. You will really understand the counseling private practice industry, your competition, and your customers. You will have developed a marketing plan and will really understand what it takes to launch and grow a successful private practice .
Counseling Private Practice Business Plan FAQs
What is the easiest way to complete my counseling private practice business plan.
Growthink's Ultimate Business Plan Template allows you to quickly and easily complete your business plan.
What is the Goal of a Business Plan's Executive Summary?
The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of private practice you are operating and the status; for example, are you a startup, do you have a private practice that you would like to grow, or are you operating a chain of private practices?
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Counseling Private Practice Business Plan
If you are a counselor and thinking about starting or expanding your counseling business, then a business plan is necessary.
A business plan helps you build a roadmap for your business and will help you persuade investors about why they should invest in your firm.
Need help writing a business plan for your counseling private practice business? You’re at the right place. Our counseling private practice business plan template will help you get started.
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- Fill in the blanks – Outline
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How to Write A Counseling Private Practice Business Plan?
Writing a counseling private practice business plan is a crucial step toward the success of your business. Here are the key steps to consider when writing a business plan:
1. Executive Summary
An executive summary is the first section planned to offer an overview of the entire business plan. However, it is written after the entire business plan is ready and summarizes each section of your plan.
Here are a few key components to include in your executive summary:
Introduce your Business:
Start your executive summary by briefly introducing your business to your readers.
Highlight the counseling practice services you offer your clients. The USPs and differentiators you offer are always a plus.
Marketing & Sales Strategies:
Financial highlights:, call to action:.
Ensure your executive summary is clear, concise, easy to understand, and jargon-free.
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2. Business Overview
The business overview section of your business plan offers detailed information about your company. The details you add will depend on how important they are to your business. Yet, business name, location, business history, and future goals are some of the foundational elements you must consider adding to this section:
Describe your business in this section by providing all the basic information:
Describe what kind of counseling practice you run and the name of it. You may specialize in one of the following counseling practice businesses:
- Individual counseling
- Couples counseling
- Family Counseling
- Group counseling
- Career counseling
- Mental health counseling
- Trauma counseling
- Describe the legal structure of your counseling practice business, whether it is a sole proprietorship, LLC, partnership, or others.
- Explain where your business is located and why you selected the place.
If you’re an established counseling practice service provider, briefly describe your business history, like—when it was founded, how it evolved over time, etc.
This section should provide a thorough understanding of your business, its history, and its future plans. Keep this section engaging, precise, and to the point.
3. Market Analysis
The market analysis section of your business plan should offer a thorough understanding of the industry with the target market, competitors, and growth opportunities. You should include the following components in this section.
Start this section by describing your target market. Define your ideal customer and explain what types of services they prefer. Creating a buyer persona will help you easily define your target market to your readers.
For instance, adults seeking therapy or families & parenting would be an ideal target audience for a private practice business.
Market size and growth potential
Competitive analysis:, market trends:.
- For instance, the integration of technology or digital tools has a booming market; explain how you plan on dealing with this potential growth opportunity.
Here are a few tips for writing the market analysis section of your counseling practice business plan:
- Conduct market research, industry reports, and surveys to gather data.
- Provide specific and detailed information whenever possible.
- Illustrate your points with charts and graphs.
- Write your business plan keeping your target audience in mind.
4. Products And Services
The product and services section should describe the specific services and products that will be offered to customers. To write this section should include the following:
Describe your cuisines:
Mention the counseling private practice services your business will offer. This list may include services like,
- Assessment and evaluation
- Individual therapy
- Couples therapy
- Family therapy
- Group therapy
- Crisis intervention
- Consultation and workshops
Customized approach, expertise or specialization:.
In short, this section of your counseling practice plan must be informative, precise, and client-focused. By providing a clear and compelling description of your offerings, you can help potential investors and readers understand the value of your business.
5. Sales And Marketing Strategies
Writing the sales and marketing strategies section means a list of strategies you will use to attract and retain your clients. Here are some key elements to include in your sales & marketing plan:
Unique Selling Proposition (USP):
Define your business’s USPs depending on the market you serve, the equipment you use, and the unique services you provide. Identifying USPs will help you plan your marketing strategies.
For example, a client-centered approach, holistic approach, or personalized treatment plans, could be some of the great USPs for a counseling private practice business.
Marketing strategies:, sales strategies:, customer retention:.
Overall, this section of your counseling private practice business plan should focus on customer acquisition and retention.
Have a specific, realistic, and data-driven approach while planning sales and marketing strategies for your counseling practice business, and be prepared to adapt or make strategic changes in your strategies based on feedback and results.
6. Operations Plan
The operations plan section of your business plan should outline the processes and procedures involved in your business operations, such as staffing requirements and operational processes. Here are a few components to add to your operations plan:
Staffing & Training:
Operational process:, equipment & software:.
Include the list of equipment and software required for counseling private practice, such as furniture, therapeutic tools, teletherapy tools, etc.
Adding these components to your operations plan will help you lay out your business operations, which will eventually help you manage your business effectively.
7. Management Team
The management team section provides an overview of your counseling private practice business’s management team. This section should provide a detailed description of each manager’s experience and qualifications, as well as their responsibilities and roles.
Introduce your management and key members of your team, and explain their roles and responsibilities.
Compensation plan:, advisors/consultants:.
Mentioning advisors or consultants in your business plans adds credibility to your business idea.
This section should describe the key personnel for your counseling private practice services, highlighting how you have the perfect team to succeed.
8. Financial Plan
Your financial plan section should provide a summary of your business’s financial projections for the first few years. Here are some key elements to include in your financial plan:
Profit & loss statement:
Cash flow statement:, balance sheet:, break-even point:.
Determine and mention your business’s break-even point—the point at which your business costs and revenue will be equal.
Be realistic with your financial projections, and make sure you offer relevant information and evidence to support your estimates.
The appendix section of your plan should include any additional information supporting your business plan’s main content, such as market research, legal documentation, financial statements, and other relevant information.
- Add a table of contents for the appendix section to help readers easily find specific information or sections.
- In addition to your financial statements, provide additional financial documents like tax returns, a list of assets within the business, credit history, and more. These statements must be the latest and offer financial projections for at least the first three or five years of business operations.
- Provide data derived from market research, including stats about the industry, user demographics, and industry trends.
- Include any legal documents such as permits, licenses, and contracts.
- Include any additional documentation related to your business plan, such as product brochures, marketing materials, operational procedures, etc.
Use clear headings and labels for each section of the appendix so that readers can easily find the necessary information.
Remember, the appendix section of your counseling private practice business plan should only include relevant and important information supporting your plan’s main content.
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This sample counseling private practice business plan will provide an idea for writing a successful counseling private practice plan, including all the essential components of your business.
After this, if you still need clarification about writing an investment-ready business plan to impress your audience, download our counseling private practice business plan pdf .
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Frequently asked questions, why do you need a counseling private practice business plan.
A business plan is an essential tool for anyone looking to start or run a successful counseling private practice business. It helps to get clarity in your business, secures funding, and identifies potential challenges while starting and growing your business.
Overall, a well-written plan can help you make informed decisions, which can contribute to the long-term success of your counseling private practice business.
How to get funding for your counseling private practice business?
There are several ways to get funding for your counseling private practice business, but self-funding is one of the most efficient and speedy funding options. Other options for funding are
Small Business Administration (SBA) loan
Crowdfunding, angel investors.
Apart from all these options, there are small business grants available, check for the same in your location and you can apply for it.
Where to find business plan writers for your counseling private practice business?
There are many business plan writers available, but no one knows your business and ideas better than you, so we recommend you write your counseling private practice business plan and outline your vision as you have in your mind.
What is the easiest way to write your counseling private practice business plan?
A lot of research is necessary for writing a business plan, but you can write your plan most efficiently with the help of any counseling private practice business plan example and edit it as per your need. You can also quickly finish your plan in just a few hours or less with the help of our business plan software .
About the Author
Vinay Kevadiya is the founder and CEO of Upmetrics, the #1 business planning software. His ultimate goal with Upmetrics is to revolutionize how entrepreneurs create, manage, and execute their business plans. He enjoys sharing his insights on business planning and other relevant topics through his articles and blog posts. Read more
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Private Counseling Practice Business Plan
Private Counseling Practice business plan for starting your own social service agency
Are you a psychologist, social worker, or marriage counselor? Did you know that you can make money from a prosperous business by going into private practice like any of the trainers mentioned above? Yes, the profession of counseling, social workers, and marriage counselors are one of the largest and most lucrative professions in the United States, open to interested entrepreneurs who are qualified and able to come in as a private trainee and earn a great income. This counseling private practice business plan has the insights.
USA Private Counselors LLP is a professional and licensed consulting (private practice) organization that specializes in helping its clients cope with their challenges, achieve their personal goals, and improve their skills, competence and productivity.
The scope of our private counseling practice business offerings covers areas such as clinical psychology, industry-organizational psychology, all other psychology, psychosocial work, marriage, and family therapy, child, family and school social workers, online counseling services and retail sale of self-help books. And materials and others.
Our business is located between a well-populated residential estate and a business district in Pennsylvania – Smethport, Pennsylvania, USA.
USA Private Counselors LLP, is a customer-centric and consequently operated private consulting firm that offers a wide range of consulting, learning approaches and experience at an affordable fee that is in any way to put a hole in our clients’ pockets. We make sure to work hard to meet and exceed the expectations of our customers because whenever they hire our services, it is related to their professional and personal goals.
USA Private Counselors LLP is the overall best interest of our clients comes first, and everything we do is entirely guided by our values and professional ethics. We make sure to hire professional and certified psychologists, social workers and counselors of various skills who are well experienced and enthusiastic.
Management of Social Service Agency
In the private counseling practice business plan , we ensure that we are responsible for the highest standards by accurately and fully meeting the needs of our customers. We will cultivate a work ambience that gives a humane, sustainable approach to practicing, earning and living in our world for our associates, employees and our clients.
Customers of Social Service Agency
While starting a social service agency it may seem like a dream too high, but we are sure it will attract more customers like celebrities, public figures, and Private Job based customers. As we have done lots of research and feasibility, studies and we are excited and confident that Smethport is the right place to start our private consulting business.
Our primary goal is to satisfy our customers and establish our business location. So people can learn about us and our dress code. Our business plan Private counseling practice is to gain as many customers as possible and expand our Social service agency line to many countries. Profit is a secondary thing, but the primary concern is to satisfy our customers and their queries.
1. How to start a business?
Well, this is the most challenging part because the person starting the business never knows about the future. Whether the business will work or not; it will always be an opportunity, and because of this, many are sacred. Most people ask how to start a business? Therefore, the answer here is, you need to identify the needs of the people. You need to check the latest market trends and what people want to do.
2. What are the costs involved in opening a business?
The start-up cost of the counseling business can be low or high depending on your goals, vision and aspirations for your business. The start-up capital for a home-based private consulting business without any overhead can be as low as $250,000 to $350,000, while a medium and large scale value is definitely higher.
3. How to implement business management?
Our management staff and this is based on the performance of the company for a period of three years or more. We know that if it is put in place, we will be able to successfully hire and retain the best staff for management, which we can get in the industry. They will be more dedicated to helping us build the business of our dreams.
4. What target of this business?
We have a private counseling practice business plan, our target areas are local people, celebrities, and social media influencers, and they can advertise our agency differently.
plan your business.
USA Private Consultants LLP will ensure that the right foundation, structures, and processes are in place to ensure that the interests of our customers employees are well taken care of. Our company’s corporate culture is designed to move our business to greater heights, and the training and retraining of our employees will burn at the top of our business strategy.
Define your brand
The new business will have to face the initial problems in establishing a brand name in the head of the customer. We treat our customers well and take care of their needs and recommendations. We also did tailor-made projects for clients. We discuss with our team what the customer needs and how to apply it.
How to promote & market a business
The truth is, if your customers have experienced a big difference in their lives as a result of hiring your company’s services, they will be compelled to help improve your company.
Establish a web presence
Another notable trend in this field is the influence of technology; the advent of technology has led to an increase in the income of private consultants around the world. With technology, it is not easy for private consultants to provide advice to their client’s thousands of kilometers away from them.
USA Private Consultants LLP- may be a new private consulting agency in Pennsylvania, but the board of directors and business owner are considered gurus in the industry. The woman is a leading professional, licensed and highly qualified psychologist and marriage counselor. She can help her clients cope with their challenges and successfully achieve their personal goal in the short term. These are the areas where we consider a competitive advantage.
Why the social service agency is being started
Our owner loves to start new social services agency, but they feel like they can share their social ideas with others. They are learning about social causes and are now going to propose a big agency or business project so that people can also benefit from their practicing department.
How the social service agency will be started
Being talented is one thing, knowing how to make people successful is another; That’s why you need to constantly get feedback to measure the progress and performance of your agency. Keeping all these things mind and with the help of private practice counseling business plan template, the business will be started.
Our mission to start our private practice counselling business is to help our clients and staff to meet their challenges, achieve their personal goals, improve their skills, competence and productivity, and of course, make a profit from the field of counseling. In addition, you can work on starting your own counselling practice agency as well.
Our service offerings are listed below;
- Clinical Psychology
- Industrial-organizational psychology
- All other psychology
- Social work on mental health
- Marriage and family therapy
- Child, family and school social workers
- Online consulting services
Marketing Analysis of Counseling Services
The trend in the field of Counseling Services, social workers and other counsellors over the past half-decade shows that the industry continues to grow. Private consulting services are required regardless of economic conditions, which protect the industry from economic fluctuations.
USA Private Consultants LLP will generate revenue by providing the following private consulting services;
- All other counselling
- Retail sale of self-help books and supplies
After opening a private practice business , our business target cuts across different classes of people and people from all walks of life. We come with a business concept and company profile in the field of psychologists, social workers and marriage counselors, which will help you, work with clients from different backgrounds and different positions.
Generally, starting your own counselling practice services are charged flat rates on an hourly billing rate and a weekly or monthly basis. As a result, USA Private Consultants LLP will charge flat fees to our clients, except for a few cases where special clients will have to pay on an hourly basis.
We note that there is fierce competition among private consulting firms in the United States; So we were able to hire some of the best marketing staff to handle our entire sales and marketing.
Also, our sales and marketing staff will be recruited based on their vast experience in the industry, and the goals of USA Private Consultants LLP.
Being more competitive in the field of counselling, the staff, counsellor and practitioners will provide consistent quality service, and our clients can experience significant difference and improvement, and meet the expectations of your clients at all times you can meet.
USA Private Consultants LLP is all set to use the following sales strategies to attract customers. The sample proposal for counseling services will include the followings-
- Introduce our private consulting firm by sending introductory letters with our brochure to key stakeholders in Corporate, Religious Institutions, Families, and Smethport – Pennsylvania.
- Print flyers and business cards and drop them strategically in offices, libraries, public facilities and train stations and more.
- Use close friends and family to spread the word about our private consulting firm.
- Put information about our private consulting agency on bulletin boards in places like schools, libraries and local coffee shops.
- Placing a small or classified ad in the newspaper or a local publication about our private consulting firm
- Advertise our private consulting firm in relevant educational magazines, newspapers, television stations and radio stations.
Well, here is a chart below where you can find monthly sales.
We are also exploring the market and its sales in the marketing plan for counseling center . Well, the counsellng is doing well, as you can see in the chart below.
excellent work, competent advice. Alex is very friendly, great communication. 100% I recommend CGS capital. Thank you so much for your hard work!
We were able to critically explore the private consulting market, explore our opportunities in the industry, and we were confident and able to come up with the following sales forecast. Sales forecasts are based on data collected in the field and some strange assumptions for similar startups in Smethport – Pennsylvania.
Below are the sales forecasts for USA Private Consultants LLP, which are based on the location of our personal training and training company, and of course the wide range of training we offer-
- First financial year : $150,000 to $400,000
- Second financial Year : $350,000 to $500,000
- Third financial year : $500,000 to $550,000
Considering the above counseling services, we have decided to appoint qualified and competent hands to hold the following posts;
- Chief Partner / CEO
- Psychologists, social workers and marriage counselors
- Office Administrator
- Marketing executives
- Customer Service Administrator
Average Salary of Employees
Well, this is the most important process for counseling private practice business plan . However, in the table below we have mentioned all the details about the salary.
In setting up a private counselling practice business plan, size, or cost depends on the approach and size you want to undertake. If you rent a space and want to go big, you will need a large amount of capital as you need to make sure your employees take good care of you.
According to our assumptions, we will follow this plan to increase our business naturally. If there are any natural disasters, we control the things of our human condition. You can see the map.
The Break-Even Analysis is based on our private counseling practice business plan to reach the level in only one year.
Projected Profit and Loss
Our private counselling practice business works well, but we don’t cover the monthly budget, so we try to cover it for the next four months.
The monthly profit chart will be as below-
The yearly profit chart will be as below-
Gross Margin Monthly
The below gross margin lines are showing the future figures, and we hope they will get thicker by the time.
Gross Margin Yearly
Slow, dense lines, as we can see. This year we will cover.
Projected Cash Flow
The psychotherapy finances or cash flow can be seen below where we can not only get out of debt, but also find profits.
Projected Balance Sheet
Download Private Counseling Practice Business Plan Sample in pdf
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A One Page Business Plan for Your Therapy Practice
THIS POST INCLUDES:
1. Keep Your Business Plan Simple 2. Parts of a Business Plan 3. How to Complete a Business Plan 4. Sample Business Plan: Art Therapy Practice 5. Additional Business Planning Information 6. Free Download Business Plan Checklist
KEEP YOUR BUSINESS PLAN SIMPLE
Many people have a perception of what a business plan entails. They may think business plans are only useful for large companies or businesses you want to get a loan from a bank and need to explain their financial position.
A business plan involves much more than looking at the financial aspects of your business. It involves defining your clients, assessing your strengths and weaknesses in your business, and identifying the resources you need to execute your goals for your business.
Your business plan should be written using simple language. A business plan should be written so that it encourages you to take action on developing parts of your business that need your attention such as resourcing, marketing , and financial planning.
Many business plans are written for the benefit of a board of directors, however, if you are a private practice therapist, your board of directors is you. Therefore it is important to write your business plan using language that will motivate you and help you solve problems that may exist in your private practice.
If you are running a private practice and you are the sole employee, it is easy enough to create a business plan using a one-page process. While it is important to undertake these important administrative and planning aspects of your business, it’s also important that you keep momentum on running your business so that you don’t get too distracted by onerous administrative tasks.
It’s also important to remember that a business plan is often a changing process. As your private practice develops, you may want to change parts of your business that suit your goals at that time.
It’s a good idea to review your business plan at least once a year so that you can make any amendments and future goals for the year ahead. In the first year of your business, you will want to pay close attention to your business plan and possibly review it every month, however, once your practice is established you can undertake a review process less frequently.
A business plan is simply about being prepared.
PARTS OF A BUSINESS PLAN
The content of your business plan should always be based on providing information that helps you progress in your private practice. It is good to include information that is simple, concise and provides actionable steps.
GENERAL BUSINESS PLAN
Essentially, the most important parts of your business plan will include:
- Why do you want to start a private practice
- What are the mechanics of your private practice – income, expenses, staff, administration etc
- What are your strengths, weaknesses, opportunities, and threats (SWOT analysis)
- What is your marketing plan
These 4 areas are fundamental parts of your business plan. Your business plan should be specific to your private practice, however, we’ve created a sample outline below of the most important details that you should consider based on the above 4 fundamental parts.
DETAILED BUSINESS PLAN
- Private practice name:
- Date of this plan:
- My mission for my private practice:
- My business goals (should be specific and measurable):
- Income avenues:
- Initial cost set up:
- My strengths:
- My weakness (and how to manage them):
- Opportunities for my private practice:
- Threats to my private practice succeeding:
- Marketing Plans:
HOW TO COMPLETE A BUSINESS PLAN
Completing a business plan takes some time and effort. Essentially you are working on a document that is based on goals, expectations, and unknowns. It can feel difficult to determine exact details to include in your business plan when there are so many unknown variables.
From this perspective, your business plan is simply a guideline to get you started. It should always be viewed as a process that requires adaptability and flexibility as you become more experienced in running your private practice.
The business planning process can be overwhelming especially if you are more interested in client work instead of administrative work. In many ways creating your business plan is an introduction to running your private practice.
At times when running your private practice, you will be required to do administrative work that feels more tedious compared to the client work that you want to do. It is good to note any resistance you feel when creating your business plan as it may be a good way to assess your desire to run your private practice with many of the non-client work tasks that you will be required to undertake.
Set a time limit on creating your business plan. We’ve introduced 13 sections above in the detailed business plan. You could dedicate an individual time slot for each detailed item so that you don’t get too overwhelmed with researching a lot of information at once.
The first 3 items are simple information recording items and should only take you seconds to record. If you haven’t already named your business or subsequent website name, then you may want to spend some time on working out what your private practice should be called.
Whenever you name anything whether it be your private practice, services types, products, or workshops, you should always name items from your client’s point of view. Any names should be easy to spell, pronounce, remember, and understand in terms of purpose. Consider the demographics of your ideal clients and be guided by what language and words might mean to them. For example, if you want to appeal to elderly clients, you may not want to name your business: Artz4U
As you work through each item on your detailed business plan, remember to record all information in one central area. A lot of software integrates, so you should be able to combine both word processing documents and spreadsheet documents in one primary document. A program such as Evernote is a good tool to use for creating your business plan because you can access it at any time across multiple devices. Evernote is fairly robust in creating written text, tables, checklists, audio, and more.
Evernote is a useful program to record all of your business information in as a central database. This means you can access information about your private practice at any time. Evernote is also a great way to store and record information from external sources (eg. Internet) that you can use to help develop your business.
You may want to read our previous post about using Evernote for blogging to see how you can also use Evernote for your business planning process. 10 Useful Tips to Use Evernote for Blogging
Evernote is free for a basic account, however, you can purchase a premium subscription for additional features. You will easily be able to use a free Evernote account to create your business plan.
SAMPLE BUSINESS PLAN: ART THERAPY PRACTICE
Included in this section is a sample of how to create your business plan using the parts of a business plan listed above. This sample is simplified to give you an idea of how each section should be used.
It’s important to note that your financial information such as income, expenses, and initial set up are usually specific to your first year. Each additional year after will be different as you may not have the same ongoing costs as you did in your first year. You will also most likely have your lowest income year in your first year until your practice becomes more established.
It is is a good idea to extrapolate your financial calculations out for at least the first 5 years so you can get some perspective over the short and long term success of your private practice. This will also help you plan for any initial savings that you need to inject into your business in the first year. Being financially prepared will help reduce the stress that you feel around meeting income goals.
The more elaborate your business goals are, the bigger your business plan will be. This business plan is a simplified version to get you moving and taking action on establishing your private practice.
All names, websites, and financial information is fictional for illustration.
PRIVATE PRACTICE NAME ABC Art Therapy
DATE OF THIS PLAN January 2019
MY PRIVATE PRACTICE MISSION To help clients experiencing anxiety and depression. A focus on adolescents and building self-esteem.
MY BUSINESS GOALS
- Become an expert in art therapy and anxiety/depression in my area.
- Create workshops for adolescents and building self-esteem
- Develop a workbook for adolescents that can be purchased online and at workshops
INCOME GOALS (per year)
- General client sessions – 4 clients per day x 4 days x 50 weeks x $80 per session = $64,000
- Workshops – 4 per year x 10 clients each x $80 = $3200
- Workbook – $20 x 200 sales per year = $4000
TOTAL INCOME YEAR 1: $71,200
NOTE: Your income will most likely be more varied as you may choose to take on reduced fee clients or charge more for additional services such as report writing etc. You may also set initial client session goals for the first year and increase them each year after.
EXPENSES (ongoing per year)
- Bank Fees $100
- Accounting/Legal $200
- Education/Courses $300
- Telephone/Internet $500
- Insurance $320
- Office Supplies $800
- Art supplies $2500
- Professional fees $150
- Repairs and maintenance $150
- Subscriptions $150
- Advertising $1500
- Wages (inc. Tax, superannuation/401k, retirement) TBA
TOTAL EXPENSES: $14,470
NET PROFIT: $71,200 – $14,470 = $56,730 (allocated to wages, taxes, retirement planning etc)
NOTE: In the expenses section, we’ve written TBA under Wages etc. You may want to calculate the wages you pay yourself as a set amount at the start and then your income and expenses will need to allow for that level of wages to be paid. Alternatively, you may want to calculate your income and expenses initially, and then allocate the remaining profit to pay your wages.
INITIAL COST SET UP
- Plastic desks x 5 $100
- Plastic folding chairs x 10 $100
- Lounge chairs x 3 $500
- Art room decor $200
- Desktop computer $1200
- Printer/scanner $300
- Art room supplies $1000
- Website and general admin $500
TOTAL SET UP COST: $5,100
- Writing content – good for creating workshops and workbooks
- Public speaking – good for public marketing and networking
- Specialty in working with adolescents (note various training obtained)
- Setting procedures
- Financial acumen – need to hire a bookkeeper/accountant. Set a schedule for reviewing data
- Marketing – undertake a free online course to determine the best methods of marketing online and offline
- Easily distracted – can become distracted by pursuing multiple goals. Set a plan and meet with an accountability partner to stay on track
- I am a sole practitioner – investigate income insurance
OPPORTUNITIES FOR MY PRIVATE PRACTICE
- There are 3 high schools in my immediate area where I could offer my workshops or work with the school counselor on developing programs.
- There are only 2 other therapists who deal specifically with adolescents in my area – neither of them provides art therapy services.
THREATS TO MY PRIVATE PRACTICE SUCCEEDING
- There are 8 other therapists who focus on anxiety/depression treatments. Approach each of them to network for referrals.
- Illness and professional burnout – implement regular self-care and supervision
- Cash flow problems – develop a nest egg to pay bills
- Networking with other therapists in my area
- Contact GP’s and other allied health professionals
- Network with high school counsellors for workshops
- Facebook advertising
- Art therapy association directory
- Counselors association directory
- Build website content and create email list with newsletter
- Social media posting – establish social media plan
ADDITIONAL BUSINESS PLANNING INFORMATION
Below is a list of previous blog posts that will supplement the information about business planning in this blog post. Read these blog posts to dig deeper into each aspect of running your art therapy practice.
- How to Backup Your Important Business Files
- Practice Management Software to Use as an Art Therapist
- 10 Steps to Set Up Your Art Therapy Practice
ART THERAPY HELP
- How to Set Up Your Art Therapy Room
- Link List: Useful Therapy Resource Websites for Forms, Templates and Tools
- Excel (spreadsheets) vs Accounting Software To Record Financial Information
- How to Record Income and Expenses for your Art Therapy Practice
- Strategies to Increase Profit For Your Therapy Practice
- 10 Ways to Increase Your Therapist Income
- How Do I Create an Ecourse for my Therapy Practice
- How To Organise an Art Therapy Group
- What to do when you have no clients booked
- Where to find Clients for your Art Therapy Practice
- 5 Essential Marketing Templates for your Therapy Practice
- Create A Sales Funnel for an Art Therapist
- Design a Simple Layout for Your Art Therapy Website Design
- How to Build an Email List for your Therapy Practice
- How to Create a Free Offer to Build Your Email List
- How to Create an Annual Social Media Plan in 60 mins
- How to Get Started With Google Analytics in 5 Easy Steps
- How to Plan Your Marketing Strategies
- Link List: Online Marketing Courses to Improve Your Marketing Skills
- Review of Free Social Media Schedulers
- The Best Marketing Methods for Art Therapists
- Tools for Organizing Your Social Media Content
- Understand the Marketing Cycle of Your Art Therapy Practice
- How to Establish Your Business Network
- Professional Networking for An Art Therapist
- 10 Useful Planning Tools for Your Business
- 10 Useful Tips to Use Evernote for Blogging
- How to Plan A Productive Year as a Therapist
- Planning Template for Your Art Therapy Practice
- Task Management Software For Art Therapy Planning
- Self-care for the Art Therapist
- Using Art Therapy For Your Own Self-Care
———————— Need help with setting up your Therapy Practice admin policies and procedures? If you need help to set up your Therapy Practice business, we have an Admin Package in the store which contains a collection of essential business documents.
The Admin Package is available in 3 formats, including:
- Microsoft Word
You can read more about the packages in our store HERE .
- Business Details
- Fee Schedule
- Cancellation Policy
- Refund Policy
- Business Trackers
- Social Media Tips
- Business Admin Maintenance
- Business Goals
- Project Template
- Client Intake Checklist
- Client Call Log
- Consent for Services
- Authorisation to release information
- Social Media Policy
EMAIL & LETTER TEMPLATES
- Inquiry Reply
- Referral Request
- Reminder Late Payment
- Response for psychological report
- Response to subpoena
FREE DOWNLOAD: Free Download Sample Business Plan
SIGN UP below to download the FREE Sample Business Plan to help you create your own business plan for your art therapy practice.
BUILD YOUR ART THERAPY REFERENCE MATERIALS: Pin this image to your Pinterest board.
SHARE KNOWLEDGE & PASS IT ON: If you’ve enjoyed this post, please share it on Facebook, Twitter, Pinterest. Thank you!
Sample Counseling Private Practice Business Plan Template
Private counseling practice business plan sample.
Counselling practice is a business which belongs to the psychologists, social workers, and marriage counsellor’s industry. The business basically consists of mental health practitioners who particularly focus in diagnosing and treating emotional and behavioural disorders, mental disorders, etc.
If you are very interested in starting up a counselling practice business, and are at the point of writing a business plan for your business, then you must keep reading this article.
In this article, you will find a counselling business plan sample which you would find beneficial towards helping you write a simple business plan for your counselling business.
Here is a sample business plan for starting a mental health business.
BUSINESS NAME: The Real Deal Private Counsellors, LLP
- Executive Summary
- Our Products and Services
- Vision Statement
- Mission Statement
- Business Structure
- Market Analysis
- Sales and Marketing Strategy
- Financial Plan
- Sales Forecast
The Real Deal Private Counsellors, LLP is a duly registered and licensed counselling practice business which will do everything under the laws of the United States to operate in Las Vegas, United States. We will be very interested in providing our customers with a number of our amazing products and services which will include clinical psychology, marriage and family therapy, mental health social work, online counselling services, etc.
The Real Deal Private Counsellors, LLP will be owned and managed by Peter Baker, who will also be the CEO of the business. So far, Peter Bakers has been able to raise half of the startup budget which amounts to $100,000. The other half will be obtained as soft loan from the owner’s bank to complete a total of $200,000.
OUR PRODUCTS AND SERVICES
The Real Deal Private Counsellors, LLP will be offering psychology and counselling services within the scope of the industry to clients in the United States. The following are our product and service offerings which we will be providing our clients:
- Clinical psychology
- Every other psychology
- Marriage and family therapy
- Mental health social work
- Online counselling services
- Child, family and school social workers
- Sales of self-help materials such as books, CDs, etc
Our vision is to establish a private counselling practice business which will become very competitive in the industry, and be renowned as the leader in the industry not just in Las Vegas, but in all of the United States.
Our mission is to be a private counselling practice business which will particularly provide professional, quality, and affordable services to clients from all walks of life. We are very concerned with building a counselling business which will become the number one choice for clients in all of the United States before our 10th year anniversary.
Our plan for The Real Deal Private Counsellors, LLP is to start it small and grow it big into the counselling practice business that we envisage, before we hit our 10th year anniversary. We well know how important building a strong business structure is to every business. This is why we will take out time to select only employees that meet our standard selection criteria of experience, commitment, hard work, honesty, amongst other things. The following are the positions we will employee qualified candidates to fill in our business structure.
- Chief Executive Officer / Principal Partner
- Office Administrator
- Psychologists, Social Workers and Marriage Counsellors
- Accountant / Cashier
- Client Service Executive
- Sales and Marketing Executive
One of the trends in the industry is that the industry has seen a steady growth in the last five years in the United States. Regardless of the economic status of the United States, the industry is one whose services are always needed at all times.
The following groups are what we have considered to make up our target market in the industry:
- Couples about to wed
- Married couples
- Corporate Executives
- Religious Organizations
- Business People
- Government Officials
- Public figures
- College students
- Sports People
- All people of all sorts, including those undergoing mental challenges and depression
SALES AND MARKETING STRATEGY
We know for a fact that there is stiff competition in the industry in the United States; hence, we will leave no stone unturned in our quest to promoting our business and setting it in its rightful position in the industry. We have been able to consult experts and we have come up with several sales and marketing strategies which we will do well to implement:
- We will introduce our counselling practice business to various groups which make up our target market by sending them our introductory letters, and our business brochure.
- We will make sure to drop our business fliers and handbills and give out at strategic locations all around the United States.
- We will make sure to place adverts on newspapers, magazines, radio stations, as well as on TV stations so as to promote our business.
- We will not forget to create an online presence for our business to be able to reach a larger audience.
FINANCIAL PLAN Source of Startup Budget
Starting up our counselling practice business in Las Vegas would require a total of $200,000. This startup budget would be sourced from the owner, and from his bank. The owner, Peter Baker has been able to raise $100,000 while the other $100,000 will be sourced as soft loan from the owner’s bank.
First Fiscal Year $200,000 Second Fiscal Year $400,000 Third Fiscal Year $800,000
Above is a sales projection for our counselling practice business which will be located in Las Vegas, United States.
This sales projection is only a calculated reflection of what we aim to achieve in our first three years of doing business after startup. This projection has not taken into consideration any negative future impact in the industry.
CONCLUSION This article contains a counselling practice business plan sample which bears the name, ‘The Real Deal Private Counsellors, LLP’. This business will be located in Las Vegas, United States, and it will be focused on offering a number of counselling services to its customers all over the United States. The business will be owned by Peter Baker, who will also be the Chairman Executive Officer of the business.
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Psychotherapy Private Practice Business Plan [Sample Template]
By: Author Tony Martins Ajaero
Home » Business Plans » Medical and Healthcare
Do you want to start a psychotherapy practice? If YES, here is a sample psychotherapy private practice business plan template & FREE feasibility report.
People are always looking for non-conventional ways to cure whatever illness they are suffering from which is why people that are involved in psychotherapy practice are in high demand. Psychotherapists may be mental health professionals such as psychiatrists, psychologists, mental health nurses, clinical social workers, marriage and family therapists, or professional counselors.
Psychotherapists may also come from a variety of other backgrounds, and depending on the jurisdiction may be legally regulated, voluntarily regulated or unregulated (and the term itself may be protected or not).
Please note that to start and run a successful psychotherapy private practice, you will first have to obtain your college degree in behavioral science (e.g., psychiatry, psychology, counselling, social work, sociology) with workshops, certificate classes and symposia that fill voids in your area of expertise.
Below is a sample psychotherapy private practice business plan template that will help you write yours without much stress.
A Sample Psychotherapy Private Practice Business Plan Template
1. industry overview.
Psychotherapy (psychological therapy or talking therapy) is the use of psychological methods, particularly when based on regular personal interaction with adults, to help a person change behavior and overcome problems in desired ways.
Psychotherapy aims to improve an individual’s well-being and mental health, to resolve or mitigate troublesome behaviors, beliefs, compulsions, thoughts, or emotions, and to improve relationships and social skills. Please note that certain psychotherapies are considered evidence-based for treating some diagnosed mental disorders.
Professionals who are into psychotherapy private practice business are grouped under the Behavioral Therapists industry and this industry includes behavioral therapists / practitioners that primarily engaged in the independent practice of psychotherapy designed to eliminate undesired behaviors or mental challenges.
A close study of the industry shows that the industry has experienced steady conditions and stable growth over the last five years.
Rising student enrollment rates have stimulated demand for the industry’s services. Most importantly, increased access to health insurance has better enabled individuals to afford industry services, as many psychotherapy private practice services are covered by health insurance.
More individuals have obtained private health insurance coverage, better enabling them to access industry services. The PPACA has increased the number of individuals with government health insurance by expanding access to Medicaid. These trends are expected to continue over the next five years to 2022.
According to research from the Centers for Disease Control and Prevention, an estimated 50.0% of all Americans will develop some sort of mental illness in their lifetime that requires behavioral therapy. Furthermore, many individuals with behavioral health ailments have coexisting physical health conditions.
This factor strains the US healthcare system, as behavioral issues can complicate patients’ treatment for other medical conditions or amplify current medical issues.
For instance, depressed patients are typically three times more likely to be noncompliant with their treatment recommendations, which can add significantly to healthcare costs. In response, behavioral therapists provide services through numerous channels.
The Behavioral Therapists industry is a thriving sector of the economy of the united states of America and they generate over billion annually from more than 76,481 registered and licensed Behavioral Therapists and psychotherapy private practitioners.
The industry is responsible for the employment of over 125,543 people. Experts project the industry to grow at a 4.5 percent annual rate within 2014 and 2019. It is important to state that there is no single organization that has a lion share of the market in this industry.
Please note that it is absolutely compulsory for any investor who is looking towards starting any health related business in the United States of America to meet extensive federal, state and local laws and regulations. These regulations relate to the adequacy of medical care, equipment, personnel, operating policies and procedures.
Regulations also involve maintaining adequate records, preventing fires, setting rates and complying with building codes and environmental protection laws. These regulations make it difficult and costly for aspiring entrepreneurs to enter the industry.
Some of the factors that encourage entrepreneurs to start their own psychotherapy private practice business could be that the business requires low level manpower, the business can easily get support from the government at all levels and it is indeed profitable despite the legislature governing the industry.
Interestingly, psychotherapy may be delivered in person (one on one, or with couples, or in groups), over the phone, via telephone counseling, or via the internet.
As a psychotherapy pathology private practitioner, aside from your professional qualifications, the key attributes needed to be able to make good success from the trade is patience, enthusiasm, passion about the specific area to be handled, and constant positivity. You are also expected to be highly proactive.
2. Executive Summary
Jonny Belfast® Psychotherapy Practitioners, LLP is a licensed Psychotherapy firm that is specialized in helping her clients change their behavior and overcome mental health related problems in desired ways.
The scope of our business offerings covers areas such as improving an individual’s well-being and mental health, to resolve or mitigate troublesome behaviors, beliefs, compulsions, thoughts, or emotions, and to improve relationships and social skills et al.
Our business will be located in a well – populated residential estate in New Orleans – Louisiana, United States of America.
Jonny Belfast® Psychotherapy Practitioners, LLP is a client-focused and result driven psychotherapy organization that provides broad – based approaches and experience at an affordable fee that won’t in any way put a hole in the pocket of our clients.
We will ensure that we work hard to meet and surpass all our clients’ expectations as it relates to their mental health and behavioral goals.
At Jonny Belfast® Psychotherapy Practitioners, LLP, our clients’ overall best interest would always come first, and everything we do is guided by our values and professional ethics. We will ensure that we hire certified psychotherapists and related health workers with various skills set who are passionate in helping our clients overcome their behavioral challenges in record time.
Jonny Belfast® Psychotherapy Practitioners, LLP will at all times demonstrate her commitment to sustainability, both individually and as a psychotherapy private practice organization by actively participating in our communities and integrating sustainable business practices wherever possible.
We will ensure that we hold ourselves accountable to the highest standards by meeting our clients’ needs precisely and completely.
Our overall business goal is to position our private psychotherapy practice to become the leading brand in the Behavioral Therapists industry in the whole of New Orleans – Louisiana, United States of America, and also to be amongst the top 10 psychotherapy private practice businesses in the United States of America within the first 5 years of operation.
This might look too tall a dream but we are optimistic that this will surely come to pass because we have done our research and feasibility studies and we are confident that New Orleans is the right place to launch our business.
Jonny Belfast® Psychotherapy Practitioners, LLP is founded by Dr. Jonny Belfast and he will run the business with his partner Dr. Biden San Jose. Dr. Belfast is a certified and renowned Psychotherapist. He has over 20 years’ experience working with a wide range of people both in the United States of America and Canada.
3. Our Products and Services
Jonny Belfast® Psychotherapy Practitioners, LLP is going to offer psychotherapy and related services within the scope of the Behavioral Therapists industry in the United States of America.
Our intention of starting our business is to help our clients overcome their behavioral challenges and improve their interpersonal skills, competence, capacity and productivity and of course to also make profits from the Behavioral Therapists industry.
We will do all that is permitted by the law in the US to achieve our aim and business goal. Our service offerings are listed below;
- Monitor patients’ progress and adjust treatments
- Develop treatment plans
- Evaluate behavioral patterns and mental health test results
- Develop individual or group programs in schools to deal with abnormal behavioral patterns and mental health problems
4. Our Mission and Vision Statement
- Our vision is to build a highly competitive and effective psychotherapy private practice business that will become the number one choice for both individuals and corporate organizations in New Orleans – Louisiana and the whole of the United States of America.
- Our mission is to provide affordable, professional and highly effective psychotherapy private practice services to a wide range of clients.
- We want to position Jonny Belfast® Psychotherapy Practitioners, LLP to become one of the leading brands in the industry in the whole of New Orleans – Louisiana, and also to be amongst the top 10 psychotherapy firms in the United States of America within the first 5 years of operation.
Our Business Structure
Jonny Belfast® Psychotherapy Practitioners, LLP, is a psychotherapy firm that intends starting small in New Orleans – Louisiana, but hopes to grow big in order to compete favorably with leading firms in the industry in the United States.
We are aware of the importance of building a solid business structure that can support the the kind of world class business we want to own. This is why we are committed to only hire the best hands within our area of operation.
At Jonny Belfast® Psychotherapy Practitioners, LLP, we will ensure that we hire people that are qualified, hardworking, creative, passionate, result driven, customer centric and are ready to work to help us build a prosperous business that will benefit all our stakeholders.
As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff/partners and it will be based on their performance for a period of five years or more as agreed by the board of trustees of the company.
In view of the above, we have decided to hire qualified and competent hands to occupy the following positions;
- Principal Partner/Chief Executive Officer
- Marketing Executives
Client Service Executive
5. Job Roles and Responsibilities
Principal Partner/Chief Executive Officer:
- Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results
- Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
- Responsible for fixing prices and signing business deals
- Responsible for providing direction for the business
- Responsible for signing checks and documents on behalf of the company
- Evaluates the success of the organization
- Develop treatment plans for problems such as behavioral challenges and mental disorder
- Instruct clients in techniques for more effective communication
- Handles any other duty as assigned by the Principal Partner / CEO.
- Responsible for overseeing the smooth running of HR and administrative tasks for Jonny Belfast® Psychotherapy Practitioners, LLP
- Regularly holds meetings with key stakeholders to review the effectiveness of the organizations’ Policies, Procedures and Processes
- Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
- Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
- Defines job positions for recruitment and managing interviewing process
- Carries out induction for new team members
- Responsible for training, evaluation and assessment of employees
- Responsible for arranging travel, meetings and appointments
- Oversees the smooth running of the daily activities of Jonny Belfast® Psychotherapy Practitioners, LLP.
- Identifies, prioritizes, and reaches out to new students, and business opportunities et al
- Identifies development opportunities; follows up on development leads and contacts
- Writes winning proposal documents, negotiate fees and rates in line with organizations’ policy
- Responsible for handling business research, market surveys and feasibility studies for clients
- Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
- Documents all customer contact and information
- Represents Jonny Belfast® Psychotherapy Practitioners, LLP in strategic meetings
- Helps to increase sales and growth for Jonny Belfast® Psychotherapy Practitioners, LLP
- Responsible for preparing financial reports, budgets, and financial statements for the organization
- Provides managements with financial analyses, development budgets, and accounting reports
- Responsible for financial forecasting and risks analysis.
- Performs cash management, general ledger accounting, and financial reporting for one or more properties.
- Responsible for developing and managing financial systems and policies
- Responsible for administering payrolls
- Ensures compliance with taxation legislation
- Handles all financial transactions for Jonny Belfast® Psychotherapy Practitioners, LLP
- Serves as internal auditor for Jonny Belfast® Psychotherapy Practitioners, LLP.
- Welcomes clients and visitors by greeting them in person or on the telephone; answering or directing inquiries.
- Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
- Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
- Manages administrative duties assigned by the principal partners
- Consistently stays abreast of any new information on the organizations’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients when they make enquiries
- Receives parcels/documents for Jonny Belfast® Psychotherapy Practitioners, LLP
6. SWOT Analysis
Jonny Belfast® Psychotherapy Practitioners, LLP engaged the services of a core professional in the area of business consulting and structuring to assist our organization in building a well – structured psychotherapy private practice business that can favorably compete in the highly competitive industry in the United States.
Part of what the business consultant did was to work with the management of our organization in conducting a SWOT analysis for Jonny Belfast® Psychotherapy Practitioners, LLP. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Jonny Belfast® Psychotherapy Practitioners, LLP;
Our core strength lies in the power of our team; our workforce. We have a team that are considered experts in the industry, a team with excellent qualifications and experience in psychotherapy practice.
Aside from the synergy that exists in our carefully selected team members and our strong online presence, Jonny Belfast® Psychotherapy Practitioners, LLP is well positioned in a community with the right demography and we know we will attract loads of clients from the first day we open our doors for business.
As a new psychotherapy private practice organization in New Orleans – Louisiana, it might take some time for our organization to break into the market and gain acceptance especially from top profile clients in the already saturated Behavioral Therapists industry; that is perhaps our major weakness.
Opportunities are abound in this line of business. As a matter of fact, subsidized state and federal healthcare exchanges have expanded private health insurance.
Healthcare reform has also increased the number of Americans who rely on government insurance and also the demand from educational services will increase alongside school enrollment. As a standard psychotherapy private practice organization, we are ready to take advantage of any opportunity that comes our way.
Every business faces a threat or challenge at any part of the life cycle of the business. These threats can be external or internal. This shows the importance of a business plan, because most threats or challenges are to be anticipated and plans put in place to cushion what effect they might bring to the business.
Some of the threats that we are likely going to face as a psychotherapy private practice organization operating in the United States of America are unfavorable government policies that might affect businesses such as ours, the arrival of a competitor within our location of operation and global economic downturn which usually affects spending/purchasing power.
There is hardly anything we can do as regards these threats other than to be optimistic that things will continue to work for our good.
7. MARKET ANALYSIS
- Market Trends
The trend in the Behavioral Therapists industry shows that in the last half decade, the industry has grown consistently. Psychotherapy services are needed regardless of economic conditions, which insulate the industry from economic fluctuations.
Going forward, as people continue to be employed and regain a steady income, private health insurance will become more affordable, prompting consumers to seek psychotherapy services when needed. Rising student enrollment rates will boost demand for industry services.
One trend in the industry is such that if you want to be ahead of your competitors, you should be able to acquire as much certifications as possible and you should be able to have loads of testimonies from your clients. The truth is that if your clients experience huge difference in their life as a result of hiring your services, then they will be compelled to help promote your organization.
Another notable trend in this industry is the influence of technology; the advent of technology is responsible for the increase in income generated by industry.
With technology, it is now easier for psychotherapists to work with their clients that are thousands of kilometers away from them. Tools like video calling/Skype, YouTube, live chat and Webcast et al are being used by psychotherapists to work with clients in different parts of the world.
8. Our Target Market
The target market for psychotherapy private practice firms is all encompassing. As a standard psychotherapy private practice organization, Jonny Belfast® Psychotherapy Practitioners, LLP offers a wide range of services hence we are well trained and equipped to service a wide range of clients.
Our target market as a psychotherapy private practice firm cuts across people of different class and people from all walks of life.
We are coming into the Behavioral Therapists industry with a business concept that will enable us work with the clients from different background and different status. Below is a list of the clients that we have specifically designed our services for;
- People with mental health and behavioral challenges
- People suffering from one form of addictions or the order
- Hospitals and other medical clinics
Our Competitive Advantage
The Behavioral Therapists industry is indeed a very prolific and highly competitive industry. Clients will only hire your services if they know that you can help them overcome their behavioral challenges. It is the practice for psychotherapists to acquire as much certifications as it relates to their area of specialization; it is part of what will make them stay competitive in the industry.
We are quite aware that to be highly competitive in the Behavioral Therapists industry means that you should be able to deliver consistent quality service, your clients should be able to experience remarkable difference and improvement and you should be able to meet the expectations of your clients at all times.
Jonny Belfast® Psychotherapy Practitioners, LLP might be a new psychotherapy firm in New Orleans – Louisiana, but our management team are considered gurus in the industry. They are highly qualified psychotherapists that can successfully help her clients overcome their challenges within a short period of time. These are part of what will count as a competitive advantage for us.
Aside from our robust experience and expertise of our psychotherapists, we have a very strong online presence that will enable us work with clients in different parts of the world.
Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category in the industry. It will enable them to be more than willing to build the business with us and help deliver our set goals and objectives.
9. SALES AND MARKETING STRATEGY
We are mindful of the fact that there are stiff competitions amongst psychotherapy firms in the United States of America; hence we have been able to hire some of the best marketing experts to handle our sales and marketing.
Our sales and marketing team will be recruited based on their vast experience in the industry and they will be trained on a regular basis so as to be well equipped to meet their targets. We will also ensure that our clients overcome their challenges in record time.
Our goal is to grow Jonny Belfast® Psychotherapy Practitioners, LLP to become one of the top 10 psychotherapy private practice in the United States of America which is why we have mapped out strategies that will help us take advantage of the available market and grow to become a major force to reckon with not only in New Orleans – Louisiana but also in other cities in the United States of America.
Jonny Belfast® Psychotherapy Practitioners, LLP is set to make use of the following marketing and sales strategies to attract clients;
- Introduce our psychotherapy private practice firm by sending introductory letters alongside our brochure to corporate organizations, schools, hospitals, households and key stake holders in New Orleans – Louisiana.
- Print out fliers and business cards and strategically drop them in offices, libraries, public facilities and train stations et al.
- Use friends and family to spread word about our firm
- Post information about our firm on bulletin boards in places like schools, libraries, and local coffee shops.
- Place a small or classified advertisement in the newspaper, or local publication about our psychotherapy private practice firm
- Advertise our psychotherapy firm in relevant educational magazines, newspapers, TV and radio stations
- Attend relevant educational expos, seminars, and business fairs et al
- Engage direct marketing approach
- Encourage word of mouth marketing from loyal and satisfied clients.
Sources of Income
Jonny Belfast® Psychotherapy Practitioners, LLP is established with the aim of maximizing profits in the Behavioral Therapists industry and we are going to ensure that we do all it takes to attract clients on a regular basis. Jonny Belfast® Psychotherapy Practitioners, LLP will generate income by offering the following psychotherapy private practice services;
- Develop treatment plans for problems and disorders
- Develop individual or group programs in schools to deal with abnormal behavioral patterns
10. Sales Forecast
One thing is certain, there would always be people who would need our services in other for them to overcome their behavioral and mental health related problems. This is the major reason why the services of psychotherapy private practice firms will always be needed.
We are well positioned to take on the available market in New Orleans – Louisiana and we are quite optimistic that we will meet our set target of generating enough income/profits from the first six months of operation and grow our psychotherapy private practice business and our clientele base.
We have been able to examine the psychotherapy private practice market, we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. Below are the sales projections for Jonny Belfast® Psychotherapy Practitioners, LLP, it is based on the location of our firm and of course the wide range of related services that we will be offering;
- First Fiscal Year (FY1): $150,000
- Second Fiscal Year (FY2): $350,000
- Third Fiscal Year (FY3): $750,000
N.B: This projection was done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor offering same services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.
11. Publicity and Advertising Strategy
We have been able to work with our brand and publicity consultants to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market. We are set to become the number one choice for both corporate and private clients in the whole of New Orleans – Louisiana which is why we have made provisions for effective publicity and advertisement of our business.
Below are the platforms we intend to leverage on to promote and advertise Jonny Belfast® Psychotherapy Practitioners, LLP;
- Place adverts on both print (community based newspapers and magazines) and electronic media platforms
- Sponsor relevant community based events / programs
- Leverage on the internet and social media platforms like; Instagram, Facebook, Twitter, YouTube, Google + et al to promote our brand
- Install our Bill Boards on strategic locations all around New Orleans – Louisiana.
- Distribute our fliers and handbills in target areas
- Contact corporate organizations by calling them up and informing them of Jonny Belfast® Psychotherapy Practitioners, LLP and the services we offer
- List our psychotherapy private practice firm in local directories / yellow pages
- Advertise our life psychotherapy private practice firm in our official website and employ strategies that will help us pull traffic to the site.
- Ensure that all our staff members wear our branded shirts and all our vehicles are well branded with our logo et al.
12. Our Pricing Strategy
Psychotherapy services are billed on per hour basis and flat fees. As a result of this, Jonny Belfast® Psychotherapy Practitioners, LLP will charge our clients flat fees except for few occasions where there will be need for us to charge special clients on hourly basis.
We will keep our fees below the average market rate for all of our clients by keeping our overhead low and by collecting payment in advance. In addition, we will also offer special discounted rates to all our clients at regular intervals. We are aware that there are some clients that would need special assistance, we will offer flat rate for such services.
- Payment Options
The payment policy adopted by Jonny Belfast® Psychotherapy Practitioners, LLP is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulations of the United States of America.
Here are the payment options that Jonny Belfast® Psychotherapy Practitioners, LLP will make available to her clients;
- Payment via bank transfer
- Payment with cash
- Payment via online bank transfer
- Payment via mobile money
- Payment via Point of Sales Machines (POS Machines)
- Payment via check
In view of the above, we have chosen banking platforms that will enable our clients make payment without any stress on their part.
13. Startup Expenditure (Budget)
This is what it would cost us to start our own standard psychotherapy private practice in the United States of America;
- Business incorporating fees in the United States of America will cost – $750.
- The budget for liability insurance, permits and license will cost – $3,500
- Acquiring an office space that will accommodate our employees (Re – Construction of the facility inclusive) will cost – $35,000.
- Equipping the office (computers, printers, projectors, markers, pens and pencils, furniture, telephones, filing cabinets, and electronics) will cost – $10,000
- The cost for accounting software, CRM software and Payroll Software – $3,000
- Other start-up expenses including stationery – $1000
- Phone and Utilities (gas, sewer, water and electric) deposits – ($3,500).
- Launching an official website will cost – $500
- Amount need to pay bills and staff members for at least 2 to 3 months – $70,000
- Additional Expenditure such as Business cards, Signage, Adverts and Promotions will cost – $5,000
- Miscellaneous – $5,000
Going by the report from the market research and feasibility studies conducted, we will need about one hundred and seventy – five thousand (175,000) U.S. dollars to successfully setup a medium scale but standard psychotherapy private practice firm in the United States of America.
Generating Funds/Startup Capital for Jonny Belfast® Psychotherapy Practitioners, LLP
Jonny Belfast® Psychotherapy Practitioners, LLP is a partnership business that will be owned by Dr. Jonny Belfast and he will run the business with his business partner Dr. Biden San Jose. They decided to restrict the sourcing of the startup capital for the business to just three major sources.
- Generate part of the startup capital from personal savings and sale of his stocks
- Generate part of the startup capital from friends and other extended family members
- Generate a larger chunk of the startup capital from the bank (loan facility).
N.B: We have been able to generate about $75,000 (Personal savings $50,000 and soft loan from family members $25,000) and we are at the final stages of obtaining a loan facility of $100,000 from our bank. All the papers and documents have been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.
14. Sustainability and Expansion Strategy
The future of a business lies in the number of loyal customers that they have, the capacity and competence of their employees, their investment strategy and the business structure. If all of these factors are missing from a company, then it won’t be too long before the business closes shop.
One of our major goals of starting Jonny Belfast® Psychotherapy Practitioners, LLP is to build a business that will survive off its own cash flow without injecting finance from external sources once the business is officially running. We know that one of the ways of gaining approval and winning customers over is to offer our services a little bit cheaper than what is obtainable in the market and we are prepared to survive on lower profit margin for a while.
Jonny Belfast® Psychotherapy Practitioners, LLP will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and retraining of our workforce is at the top burner of our business strategy.
As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more as determined by the board of the organization. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.
- Business Name Availability Check : Completed
- Business Incorporation: Completed
- Opening of Corporate Bank Accounts: Completed
- Opening Online Payment Platforms: Completed
- Application and Obtaining Tax Payer’s ID: In Progress
- Application for business license and permit: Completed
- Purchase of Insurance for the Business: Completed
- Leasing a standard office facility in a good location plus reconstruction: In progress
- Conducting Feasibility Studies: Completed
- Generating part of the startup capital from the founders: Completed
- Writing of Business Plan: Completed
- Drafting of Employee’s Handbook: Completed
- Drafting of Contract Documents: In Progress
- Design of Logo for the school: Completed
- Printing of Promotional Materials: Completed
- Recruitment of employees: In Progress
- Purchase of the needed furniture, office equipment, electronic appliances and facility facelift: In progress
- Creating Official Website for the business: In Progress
- Creating awareness for the business in New Orleans – Louisiana: In Progress
- Health and Safety and Fire Safety Arrangement: In Progress
- Establishing business relationship with vendors and key players in various industries: In Progress
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Counseling Private Practice Business Plan
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As Mental Health Professionals, you pursue your passion – Helping People. However, your practice is also your business! If your business is not successful, you won’t be able to pursue your dream of helping people for long.
If you’re wondering how to start a private practice, the first step in the process is to create a Counseling Private Practice Business Plan.
Why a business plan? Have you ever gone on a road trip for vacation? What did you do to make your vacation as fun and exciting as it could be? You planned! Is my car ready for the trip? Do I know where I am going? Do I need hotel reservations? What is the best route to take me there? Do I have the tools to make my trip successful: map, GPS, a good functioning car?
A Business Plan is just that – planning out all the details of where you want your practice to go and what you need to make that trip a success. Whether you are a sole practitioner, a group practice or part of a major company, you need a plan
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Thank you, kind people
Thank you for your interest. We hope we can continue to be a resource for you and your counseling private practice.
I LOVE it. I know biz plans are so important. So I really look forward to the step-by-step help. Thanks!
Thank you! We are glad to help. We look forward to continuing to help each step of the way. Check back periodically for more post and information to help your office or online counsling practice grow.
This is a very kind gesture. I think it is wonderful that you are lending your expertise to the counseling community. ? Bravo
Thank you! We are excited to help the industry. We are listening to our providers and finding ways to help them and the industry grow.
I have a LMSW and I am also an ordained minister , so is there a possibility of someone like me obtaining a private practice ?
Thank you for your question! I forwarded your contact info to one of our specialists to help you.
This is going to be a good experience and a great learning opportunity
We sure hope so! We are listening to our providers and others in the counseling community. We want to help you and the office and online counseling industry continue to grow.
Where can I find additional updates? I’ve already completed the checklist and information on who to serve. What’s next?
We’re working on the next part, which is a SWOT analysis (Strengths Weaknesses Opportunities and Threats).
Robyn, this site will give you some ideas too https://www.dramberlyda.com
Please tell me what kind of certifications are needed to do private practice in USA? I have a PhD in developmental psychology from India.
Thank you Priya for your inquiry. Certifications will vary state-to-state in USA. You will have to determine which state or states you want to get certified in order to narrow down patient base.
For example, here are some links for North Carolina: 1. Mental health license requirements https://www.google.com/search?q=north+carolina+mental+health+license+requirements&oq=north+carolina+mental+health+lic&aqs=chrome.3.0j69i57j0l4.8303j0j7&sourceid=chrome&ie=UTF-8
2. LPC (Licensed Professional Counselor) license: https://www.humanservicesedu.org/north-carolina-lpc.html
3. Licensure Information: https://ncpsychology.org/pdfs/Handout_Licensure_Information_North_Carolina.pdf
Hope these help!
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Counseling Private Practice Business Plan Template [Updated 2023]
Counseling Private Practice Business Plan Template
If you want to start a counseling private practice or expand your current counseling practice, you need a business plan.
The following Counseling Private Practice business plan template gives you the key elements to include in a winning business plan. It can be used for a mental health practice, therapy practice, marriage counseling or family therapy.
You can download our Business Plan Template (including a full, customizable financial model) to your computer here.
Sample Business Plan for a Counseling Private Practice
Below are links to each of the key sections of a successful private practice business plan. Once you create your plan, download it to PDF to show banks and investors.
I. Executive Summary II. Company Overview III. Industry Analysis IV. Customer Analysis V. Competitive Analysis VI. Marketing Plan VII. Operations Plan VIII. Management Team IX. Financial Plan
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Counseling Private Practice Business Plan Home I. Executive Summary II. Company Overview III. Industry Analysis IV. Customer Analysis V. Competitive Analysis VI. Marketing Plan VII. Operations Plan VIII. Management Team IX. Financial Plan
Counseling Private Practice Business Plan Template
Counseling private practice business plan.
You’ve come to the right place to create your Counseling Private Practice business plan.
We have helped over 1,000 entrepreneurs and business owners create business plans and many have used them to start or grow their Counseling Private Practices.
Below is a template to help you create each section of your Counseling Private Practice business plan.
Peaceful Minds is a private counseling clinic that provides family and marriage counseling to residents living in or near Tigard, Oregon. The clinic primarily services couples and families with a variety of concerns, such as communication problems, mental illness, major life transitions, and affairs. The clinic employs highly-experienced counselors to assist clients with their mental health, help them navigate life challenges, and improve their quality of life. Counseling sessions can be conducted in-person or remotely, and an affordable sliding scale fee system is offered to families earning below the local median salary.
Peaceful Minds is led by Lydia White, who has been a marriage and family therapist for ten years. She has worked in other private practices around the community and has sustained a very positive reputation. Lydia is trained in Imago Relationship Therapy (IRT) and will use that as her primary means of helping clients. However, she will employ other therapists who provide other forms of relationship and family therapy.
Below is a list of the counseling services that Peaceful Minds will offer to its clients:
- Marriage counseling: This service helps married clients to overcome challenges in their marriage/relationship. Marriage counselors can help married clients with communication problems, issues with intimacy, resolving major conflicts, and more.
- Family counseling: This service helps families work through their challenges and conflicts as a whole. Some example issues include integrating blended families, healing from divorce, and working through grief.
- Individual counseling: By request, clients who are part of family or couples sessions can have one-on-one sessions with the therapist to work further on their concerns. In these sessions, therapists help clients work through their emotions and thoughts concerning their marriage/family problems. Therapists can also help clients treat and cope with any mental health challenges they live with.
Clients will also receive a complimentary initial intake to ensure they find a therapist that can help them with their goals. All sessions are offered in-person or remotely, depending on the client’s request.
Peaceful Minds will primarily serve residents that live in Tigard, Oregon and the surrounding areas. Tigard is one of Oregon’s largest cities and has a large population of families, married couples, and divorced couples. The city also has a very high median salary, which means that many residents have the disposable income to invest in counseling. The demographics of Tigard show that there is an enormous target customer base that will benefit from our counseling services.
Peaceful Minds is led by Lydia White, who has been a marriage and family counselor for ten years. She primarily utilizes the Imago Relationship Therapy (IRT) technique to help her clients with their marriage or relationship concerns.
While Lydia has never run a private counseling practice herself, she has worked in private clinics for the duration of her career. She began her counseling career in 2013 shortly after completing her Master’s degree from Portland State University and obtaining her counseling license.
Peaceful Minds will be able to achieve success by offering the following competitive advantages:
- Affordable sliding scale fee: Counseling is an expensive investment for many clients. That’s why Peaceful Minds offers an affordable sliding scale fee structure to families who make less than the local median income.
- Remote or in-person sessions: Some people are eager to meet their counselors in person again, while others feel more comfortable connecting remotely. We allow clients to determine what form they want their sessions to take. We will only override this policy if another pandemic or public health concern occurs.
- Specialization in marriage and family matters: Very few clinics in town specialize in marriage and family counseling. Peaceful Minds will focus primarily on these matters, attracting this clientele from our competitors.
Peaceful Minds is currently seeking $300,000 to launch. The funding will be dedicated towards securing the office space and purchasing equipment and supplies. Funding will also be dedicated towards three months of overhead costs to include payroll of the staff, rent, and marketing costs. Specifically, these funds will be used as follows:
- Clinic interior build out and design: $50,000
- Office equipment, supplies, and materials: $20,000
- Three months of overhead expenses (payroll, rent, utilities): $150,000
- Marketing costs: $50,000
- Working capital: $30,000
The following graph below outlines the pro forma financial projections for Peaceful Minds.
Who is peaceful minds, peaceful minds history.
After surveying the local client base and finding a potential clinic location, Lydia White incorporated Peaceful Minds as an S-Corporation on February 1st, 2023.
Currently, the business is being run remotely out of Lydia’s home office, but once a lease on the office location is finalized, all operations will run from there.
Since incorporation, Peaceful Minds has achieved the following milestones:
- Found a potential commercial space and signed a Letter of Intent to lease it
- Developed the clinic’s name, logo, social media accounts, and website
- Determined space design and required equipment
- Hired a virtual assistant to help with bookings and schedules
Peaceful Minds Services
The past few years have seen a revolution in the counseling industry. The importance of mental health and the benefits of talking with a counselor to cope with life’s challenges is on the rise. More than ever before, people are eager to work with a therapist as they navigate their challenges and improve their quality of life. This is creating a greater demand for therapists and counselors all around the nation.
There have also been some major shifts in marriage and divorce rates over the past few years. Divorces escalated during the pandemic, and marriages have been in decline for decades. We have also seen the rise of diverse families, such as families with same-sex parents and blended families. All of these changes create family, relationship, and marriage challenges that are far more diverse than decades past. Luckily, the stigma around therapy is dissolving, so more people than ever before are looking to counseling for help with their relationship or family matters.
Another recent change in the industry is the transition to remote services. Many people get their counseling sessions online through phone or video chat therapy, and this trend is expected to continue. However, now that the pandemic is over, more people want to go back to in-person sessions. Clinics that provide both options will have more resilience in the future.
A significant challenge that private practices face is major online therapeutic services. These services connect clients with therapists online from anywhere in the world. These essentially are “gig” opportunities for therapists and have gained popularity for several years for their affordable cost and convenience.
However, there has been significant pushback against these services due to the lack of quality counseling received and shady payment practices. As a result, many clients are returning to private practices to find therapists they can develop a true relationship with.
Demographic profile of target market.
Peaceful Minds will serve the residents of Tigard, Oregon and its surrounding area. Peaceful Minds will primarily target clients who are married and have families. The community of Tigard has a large population of married couples, so there are many clients that could utilize our services. The community also has a significant proportion of affluent and middle-class residents that will be willing to pay for quality counseling services.
The demographics for Tigard, Oregon are as follows:
Peaceful Minds will primarily target the following customer profiles:
- Married couples
Direct and indirect competitors.
Peaceful Minds will face competition from other companies with similar business profiles. A description of each competitor company is below.
Riverside Therapy Center
Riverside Therapy Center has been a popular therapeutic clinic in town since 1988. It is a larger clinic, employing dozens of therapists, all with different backgrounds and areas of expertise. They offer counseling for individuals, couples, and families and have psychiatrists who can help with medication management. Clients who go to Riverside can get help coping with a diagnosis, navigating a major life transition, or working through conflict with their partners or family.
While we expect Riverside Therapy Center to continue to thrive based on its popularity and variety of services offered, this clinic does not specialize in marriage and family counseling. In fact, they only have a few counselors available that cater to this clientele. We expect that families will want a clinic that specializes in their concerns and will be more inclined to work with Peaceful Minds.
Tigard Mental Health And Wellness
Tigard Mental Health And Wellness was established in 2002 to address the mental health concerns of the community. Like Riverside, it is a larger clinic with many therapists to choose from. These therapists come from many backgrounds and offer a variety of treatments and counseling for many disorders and situations.
Though the clinic has some marriage and family counselors, the clinic’s primary focus is the diagnosis, management, and treatment of mental disorders. The clinic also only offers remote sessions until further notice. So while we expect Tigard Mental Health And Wellness will continue to succeed, many couples and families will be eager to switch to Peaceful Minds for in-person sessions with a therapist that can help them with their specific concerns.
Portland State University Counseling Services
Portland State University Counseling Services is a community service of affordable therapy offered by Portland State University. It is run by students who are training to become licensed therapists but do not have a license yet. They are supervised by their professors, who are trained, experienced, and licensed therapists. Because licensed professionals do not conduct the services, they are offered at an affordable rate and only to clients who are in the lowest economic brackets of the community.
Though Portland State University offers a great service to the community, many clients prefer working with a licensed professional. Therefore, we expect many families will choose one of the great therapists at Peaceful Minds over Portland State University.
Peaceful Minds will be able to offer the following advantages over their competition:
Brand & value proposition.
Peaceful Minds will offer the unique value proposition to its clientele:
- Convenient location
- Qualified and highly trained team of counselors and therapists
- Diversity of counselor team and clientele
- Comfortable, relaxing atmosphere
- Sliding scale for low-income families
- Option for remote or in-person sessions
The promotions strategy for Peaceful Minds is as follows:
Peaceful Minds will develop a professional website that showcases pictures of the clinic and the services we provide. It will also invest in SEO so that the company’s website will appear at the top of search engine results.
Lydia White will create the company’s social media accounts and invest in ads on all social media platforms. The company will use targeted marketing to appeal to our target demographics.
Lydia will visit multiple doctors and primary care offices to ask them to refer our clinic to any patients looking for counseling services. We will ask them to keep a handful of our brochures on hand and hand them out to whoever requests a counseling clinic or is in need of one.
Ongoing Customer Communications
Peaceful Minds will maintain a website and publish a monthly email newsletter to provide tips on common marriage and family challenges.
Peaceful Minds’s pricing will be moderate so clients feel they receive great value when utilizing our counseling services. We will bill our clients’ insurance companies first and then charge our clients directly for whatever their plans don’t cover.
The following will be the operations plan for Peaceful Minds.
- Lydia White will be the Owner of Peaceful Minds and oversee the general operations of the company. She will also provide counseling services to her initial clientbase.
- Lydia recently hired a virtual assistant named Sanuye Grant. She will help with scheduling appointments, basic marketing tasks, and other general administrative duties.
- As the company’s clientbase increases, Lydia will hire several other counselors with diverse counseling techniques and backgrounds to meet her clients’ needs.
Peaceful Minds will have the following milestones completed in the next six months.
- 07/202X Finalize lease agreement
- 08/202X Design and build out Peaceful Minds
- 09/202X Hire and train initial staff
- 10/202X Kickoff of promotional campaign
- 11/202X Launch Peaceful Minds
- 12/202X Reach break-even
Key revenue & costs.
Peaceful Minds’s revenues will come primarily from counseling services. The company will bill the patient’s insurance for services provided, and the remainder will be billed to the patient. In cases where insurance is not accepted, the entire service will be billed to the patient.
The major cost drivers for the company’s operation will consist of salaries, supplies, equipment, the lease, taxes, and marketing expenses.
Funding Requirements and Use of Funds
The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and pay off the startup business loan.
- Year 4: 100
- Year 5: 150
- Annual rent: $100,000
- Average counseling session cost: $150
Income statement, balance sheet, cash flow statement, counseling private practice business plan faqs, what is a counseling private practice business plan.
A counseling private practice business plan is a plan to start and/or grow your counseling private practice business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.
You can easily complete your Counseling Private Practice business plan using our Counseling Private Practice Business Plan Template here .
What are the Main Types of Counseling Private Practice Businesses?
There are a number of different kinds of counseling private practice businesses , some examples include: Clinical psychology, Industrial-organizational psychology, Marriage and family therapy, and Social work.
How Do You Get Funding for Your Counseling Private Practice Business Plan?
Counseling Private Practice businesses are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.
What are the Steps To Start a Counseling Private Practice Business?
Starting a counseling private practice business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.
1. Develop A Counseling Private Practice Business Plan - The first step in starting a business is to create a detailed counseling private practice business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.
2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your counseling private practice business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your counseling private practice business is in compliance with local laws.
3. Register Your Counseling Private Practice Business - Once you have chosen a legal structure, the next step is to register your counseling private practice business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws.
4. Identify Financing Options - It’s likely that you’ll need some capital to start your counseling private practice business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms.
5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations.
6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events.
7. Acquire Necessary Counseling Private Practice Equipment & Supplies - In order to start your counseling private practice business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation.
8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your counseling private practice business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising.
Learn more about how to open a successful counseling private practice business:
- How to Open a Counseling Private Practice Business
Developing A Business Plan for Your Mental Health Private Practice
Business plans act as the foundation for any type of business and are important for setting benchmarks to measure success. But how do you write a business plan for a mental health private practice? Valant takes a look at the components of a business plan and translates it into an easy-to-use framework for both mental health professionals looking to start their own private practice and those looking to expand their current practice. Check out our guide to creating an effective private mental health practice business plan below.
Mission Statement / Vision Statement:
As behavioral health providers, you all are in the business of saving lives. But what makes your services unique? What value are you bringing? Make sure when you are drafting your mission statement you answer these four questions:
- What does my practice do?
- How do we do it?
- Whom do we do it for?
- What value does your practice bring?
Description of your Practice and Service:
What is your service delivery model? What kinds of patients do you want to see, including age range and presenting problems? How many hours per week do you wish to work and on what days? What types of services will you provide (e.g. therapy versus medication management)?
The three basic choices for your psychiatric business entity are: sole proprietorship, LLC, and S corporation . The choice is based mainly on relative costs, tax implications, and general business liability (rather than professional liability). If you do plan to expand to a group practice, you should probably consider an LLC or S corporation so you have the option of continuing under the same tax ID number, but we recommend consulting with a local accountant and lawyer with experience working for other health care providers before deciding.
Mental Health Practice – Operations Model:
Operating processes can be broken up into four categories: facilities, front office, back office, and insurance.
Facilities refers to your plan for location, furniture, phone, internet, hardware, and any other tangible item or service that enables you to provide your clinical services.
Front-office refers to your plan for handling non-clinical patient facing interactions such as your intake process, administrative phone calls, reception and scheduling, eligibility and verification checking, handling of patient payments, no show and cancellation policies, and prescription management policies and procedures.
Back-office functions are dominated by medical billing but could also include transcription services and handling of documents.
Insurance refers to the package of insurance that you’ll need, including general liability, professional liability, or any other insurance you might want for you or your staff (medical, dental, and long and short term disability).
An electronic health record has the potential to influence and streamline all operation models, so it is important to have the right EHR in place.
Watch our product videos to see how Valant’s EHR and practice management system streamlines operations for mental health private practice
Team refers to internal staff and outside consultants such as a lawyer, accountant, bookkeeper and medical biller. We recommend developing a strategic employee incentive system that addresses benefits, compensation, appreciation, and recognition. One of the most costly expenses your practice can endure is staff turnover. Want to learn more including recruiting tips? Watch our webinar “How to Recruit and Retain Top Talent in your Mental Healthcare Practice”
Developing A Business Plan for Your Mental Health Private Practice continued…
Marketing Strategy / Generating Patient Flow:
Especially for new practices, it’s important to dedicate a certain number of hours each week to marketing your private practice , generating patient flow, and supporting your practice’s capacity goals. Many practitioners find that word-of-mouth marketing and/or referrals are their most effective sources of new patients; in today’s saturated therapeutic market, however, establishing a digital presence may also be necessary.
Building A Website
With that in mind, building a website (or hiring a professional to build one for you) is the natural first step in promoting your practice online. Your website will act as the home base for all of your digital marketing efforts — meaning, every other digital marketing initiative you try should direct traffic back to your website. As the foundational piece of your marketing strategy, your website should be intuitive, attractive, and optimized for search engine visibility.
It will also be important to support your website with new, high-quality content once it is built out and launched. Starting an informative, active blog can be a fantastic way to highlight your expertise, reach engaged audiences, and support your positioning in search engine results.
Referrals & Directories
In most cases, the two most common means for finding new patients are to 1) utilize and nurture a referral network and 2) be on insurance contracts. This makes sense in practice; people trust other people to give honest referrals of a practitioner and their practice. They also want to ensure the provider is on their insurance network before moving forward.
With that in mind, you will need to develop referral sources to generate patient flow and to build the kind of practice that you want. Your referral sources will know your strengths and weaknesses and will refer accordingly.
In the online space, users often look to directories, insurance networks, and review sites to determine whether a provider is a right fit for them. Having active, complete profiles or listings on as many directories as applicable ensures you’re considered in the most relevant patient-provider searches possible. Additionally, directories and review sites act as an opportunity for current patients to leave reviews, providing invaluable feedback to support your practice’s long-term success.
A few examples of relevant, high-traffic directories you could sign up for include Google My Business , Psychology Today , GoodTherapy , or most social media platforms. Depending on the supply and demand characteristics in your area, however, being on insurance contracts and having profiles on insurance networks is sometimes all that is needed.
Generating Patient Flow:
The two most common means for finding new patients are to utilize and nurture a referral network and to be on insurance contracts. Depending on the supply and demand characteristics in your area, being on insurance contracts is sometimes all that is needed. But, in most cases, you will need to develop referral sources to generate patient flow and to build the kind of practice that you want. Your referral sources will know your strengths and weaknesses and will refer accordingly.
It is not necessary to have fancy financial projections to start and successfully operate a small psychiatric private practice, but it’s important to have an idea of what your net income will be and to understand the variables. Let’s break down the equation: net income = revenue – expenses.
Revenue Revenue = Average fee per face to face hour x hours worked It’s easy to overestimate this number by overestimating collections rates, fees paid by insurance for a unit of service, show rate, and patient flow. We recommend budgeting for 20% less than whatever you come up with in your plan, at least until you get validation from real revenue.
Expenses Expenses = Facilities + Front Office + Back Office + Insurance
A basic rule of thumb for expenses is that they represent anywhere from 15-30% of total revenue for a solo practice. If you employ staff or outside services for front office and back-office work, they tend to be divided pretty equally between the three. If you do not employ staff, then these expenses are more heavily loaded on facilities. Make no mistake, you are paying for those front office and back-office functions with your time. This is where the concept of opportunity cost applies. The cost of your time is dependent upon either the value you place on your time or the revenue you could generate by seeing patients during that time. However, opportunity cost does not explicitly appear in your financial statements.
If you would like to learn more about these financial metrics, we recommend reading our blog Financial Metrics 101
Private Therapy Practice Tips:
- Don’t sweat excessively about location. You will probably move within 2 years. At that point, you’ll better understand your needs. You’ll also better understand the nature of your local market and the level of competitor saturation ; especially in areas where therapy is popular, it’s important to identify your niche and find an area where you can assert yourself as the local expert, rather than offer the same expertise as competitors in your neighborhood. Modern telehealth technology also makes the location of your practice less important. By offering virtual sessions in addition to in-person visits, you can reach a larger network of patients, regardless of their proximity to your practice. Learn more about Valant’s telehealth software .
- Networking always pays off in terms of building the type of practice you want. Start early since that is when you will have the most time.
- Most small business owners overestimate revenue, especially during transitions. Make sure that you have other sources of cash during your ramp up including other part-time work, savings, or a line of credit.
- Understand the opportunity cost. There are many things in life that you love and do well. If you don’t love medical billing, don’t do it. That time could be better spent elsewhere.
- Start with a behavioral health care focused Electronic Health Record. By using an EHR focused on your specialty, you’re eliminating spend on features and functionality that is not going to be pertinent to your practice, plus gaining efficiencies in having technology workflows that are intuitive for your discipline. It’s easier to build it into the fabric of your practice from the beginning rather than switching later.
At Valant, we’re focused on providing great technology — as well as the business knowledge you need — to help your practice run smoothly and profitably. Want to learn more about Valant’s EHR and practice management suite for behavioral health?
Visit us on Facebook , Twitter , LinkedIn
Your Turn to Make a Move
Or watch a pre-recorded demo, subscribe to our blog, related posts.
Why Large Practices Leave EHRs, According to Tech Experiences & Impact Report
Private Counseling Practice Business Plan
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Resources On Private Counseling Practice
- Financial Model
- Value Proposition
- One-Page Business Plan
- SWOT Analysis
- Business Model
Products & services, market analysis, marketing plan.
- Management Plan
- Financial Plan
Mental health challenges are becoming increasingly prevalent in society, and individuals are seeking private counseling services more than ever before. Despite this growing demand, many individuals with financial constraints struggle to access these services due to the high cost involved. MindHeal Private Counseling Practice aims to fill this identifiable need in the market by providing sliding scale fees based on clients' financial needs and accepting insurance to further reduce costs. Additionally, our personalized counseling sessions meet the unique needs of each client, helping to overcome mental health challenges and improve their quality of life.
MindHeal Private Counseling Practice is a fee-for-service private counseling practice catering to individuals seeking personalized counseling services. Our counseling sessions are tailored to meet the unique needs of each client, with fees based on their financial constraints. We understand that mental health challenges can be overwhelming and our aim is to provide our clients with the tools and resources they need to overcome them. To ensure our clients receive the best possible care, we accept insurance, which further reduces the cost of our services. At MindHeal, we offer a trusted and confidential space for our clients to discuss their problems. We believe in building trusted relationships with our clients through professionalism, empathy, and compassion throughout their treatment journey.
MindHeal Private Counseling Practice has a defined customer base of individuals seeking private counseling services, particularly those with financial constraints who require counseling services at a lower cost. Our customers are those who value personalized counseling sessions that meet their unique needs and the opportunity for insurance reimbursement to further reduce costs.
We will use various channels such as online advertising and social media, word of mouth referrals, and referrals from insurance companies to reach our target market. Our customer relationships will be built on trust, respect, confidentiality, and professionalism at every interaction. We will continue to grow our client base and establish ourselves as a trusted provider of private counseling services.
MindHeal Private Counseling Practice will be competing against a range of alternatives and substitutes in the market. This includes other fee-for-service private counseling practices that offer similar services, as well as community-based mental health clinics that offer counseling services at little or no cost to clients.
However, MindHeal will differentiate itself from the competition by offering personalized counseling sessions that meet the unique needs of each client and offering sliding scale fees to accommodate clients with financial constraints. In addition, accepting insurance will further reduce the cost of services for clients. By providing high-quality private counseling services for individuals seeking support, MindHeal aims to establish itself as a trusted and reliable provider of mental health services in Los Angeles and beyond.
Key highlights of the financial plan that covers costs, sales, and profitability:
- The startup funding needed for MindHeal Private Counseling Practice is estimated to be $500,000.
- This funding will cover salaries and benefits for counseling staff, rent and maintenance for facilities, and technology and software costs for record-keeping and billing.
- We estimate that our revenue streams will be generated through fees charged for private counseling sessions and insurance reimbursement for services provided.
- As we establish our brand and grow our client base, we project an annual revenue growth rate of 10-15% over the next three years.
- We will offer sliding scale fees to accommodate clients with financial constraints while maintaining profitability.
Overall, we project a strong financial outlook for MindHeal Private Counseling Practice as we aim to provide high-quality, personalized counseling services while also ensuring financial sustainability for the business.
Our estimated startup funding requirement for MindHeal Private Counseling Practice is $500,000. The funding will be used to cover the following expenses:
- Salaries and benefits for counseling staff
- Rent and maintenance for facilities
- Technology and software costs for record-keeping and billing
This funding will be critical in enabling us to achieve our business goals, sustain growth and establish our brand as a trusted provider of private counseling services. We are confident that our fee-for-service private counseling practice, combined with our acceptance of insurance and sliding scale fees for clients with financial constraints, will enable us to attract and retain a significant customer base in Los Angeles.
Milestones and Traction
At MindHeal Private Counseling Practice, we understand the importance of setting achievable milestones and tracking our progress in order to achieve our business goals. We have created a roadmap table to outline our current status and the specific milestones that we plan to hit in the coming months and years.
By following our roadmap and hitting these milestones, we are confident in our ability to achieve our business goals and provide our clients with the highest level of private counseling services.
Problem Worth Solving
The problem we aim to solve with MindHeal Private Counseling Practice is the lack of accessible and affordable mental health services for individuals in need. Mental health challenges are prevalent in today's society, and many individuals struggle to find adequate support and resources to navigate their difficulties. Financial constraints, lack of insurance coverage, and stigma surrounding mental health concerns make it challenging for individuals to seek help.
At MindHeal, we recognize the importance of accessible and affordable mental health services. We want to provide a solution for individuals seeking private counseling services, regardless of their financial situation. Our sliding scale fees and acceptance of insurance coverage aim to reduce the financial burden on clients seeking our services. We believe that every individual should have access to the support and resources they need to overcome mental health challenges and thrive, and we are committed to providing this service.
Our Solution: Private Counseling Services Catered to Individual Needs
MindHeal Private Counseling Practice offers a solution to individuals seeking private counseling services that cater to their unique needs. Our personalized counseling sessions are designed to address specific mental health challenges faced by our clients. Whether it be anxiety, depression, relationship issues, or other mental health concerns, our experienced and qualified counseling staff will work with clients to create an individualized treatment plan tailored to their needs.
In addition to our personalized counseling sessions, we offer sliding scale fees to accommodate clients with financial constraints. This ensures that our services are accessible to all individuals seeking counseling services, regardless of their financial circumstances. We understand that mental health is important and our solution ensures that our clients have access to the services they need to overcome mental health challenges.
Our acceptance of insurance also provides a solution to individuals seeking counseling services at a lower cost. By working with insurance companies, we are able to further reduce the cost of our services for our clients, making mental health care more affordable and accessible than ever before.
Validation of Problem and Solution
A recent study conducted by the National Institute of Mental Health showed that 1 in 5 adults experience some form of mental illness in a given year. Despite the prevalence of these issues, many individuals do not seek out professional counseling due to stigma or financial barriers.
Our solution, MindHeal Private Counseling Practice, addresses both of these issues by offering sliding scale fees to accommodate clients with financial constraints and accepting insurance to further reduce costs for clients. We have also conducted surveys with potential clients, which have indicated a strong desire for personalized counseling sessions that meet their unique needs.
In addition, we have piloted our services with a small group of clients who have reported significant improvements in their mental health and overall well-being. These positive outcomes have reinforced our belief in the effectiveness of our solution and our commitment to providing high-quality private counseling services.
MindHeal Private Counseling Practice offers personalized private counseling services to individuals seeking mental health assistance. Our services cater to clients with diverse needs and financial constraints, offering sliding scale fees and insurance acceptance to make private counseling accessible to everyone.
Our counseling staff is made up of qualified and experienced professionals who provide individualized counseling sessions to each client. We recognize that each client has unique needs, and our goal is to provide them with the tools and resources they need to overcome mental health challenges and lead fulfilling lives.
Our private counseling services benefit our clients by providing them with a safe and confidential environment to explore their thoughts, emotions, and behaviors. We work with clients to set achievable goals and provide them with practical tools to improve their mental wellbeing. Our personalized approach to counseling ensures that each client receives the support they need to overcome obstacles and achieve their full potential.
The private counseling industry is highly competitive, with numerous private practices offering similar services. However, MindHeal's value proposition sets us apart from our competitors. Many counseling practices operate on cash payments alone, making private counseling services inaccessible for individuals with financial constraints. MindHeal's sliding scale fees provide affordable private counseling services to individuals seeking cost-effective solutions. Additionally, MindHeal accepts insurance, which further reduces the cost of our services for clients.
MindHeal also offers personalized counseling sessions to meet the unique needs of each client. Our counseling staff is made up of qualified and experienced professionals who offer a supportive and non-judgmental environment. We are committed to helping our clients overcome mental health challenges, and our success is measured by the positive impact we have on their lives.
We also differentiate ourselves from our competitors through our marketing channels. MindHeal will leverage referral systems from insurance companies and word-of-mouth referrals from satisfied clients, in addition to online advertising and social media marketing.
Roadmap: Products & Services
MindHeal Private Counseling Practice offers personalized private counseling services to individuals seeking help with mental health challenges. Our approach is based on individualized counseling sessions that meet the unique needs of each client. Our team of qualified and experienced counseling staff offers a variety of counseling services, including:
Our services include sliding scale fees, which accommodate clients with financial constraints. We also accept insurance, which further reduces the cost of our services for clients. Our primary goal is to provide clients with the tools and resources they need to overcome mental health challenges. We measure our success by the positive impact we have on our clients' lives. As a business, we aim to grow our client base and establish our brand as a trusted provider of private counseling services.
Market segmentation is the process of dividing the market into smaller groups of potential customers with similar needs or characteristics. The potential customer groups for our private counseling practice are:
Our private counseling practice will focus on meeting the needs of both segments by offering individualized counseling sessions and sliding scale fees based on a client's financial needs.
Target Market Segment Strategy
Our ideal customer segment is individuals seeking private counseling services who may have financial constraints that prevent them from accessing traditional counseling services. We understand that mental health services can be costly, and we aim to provide affordable options through our sliding scale fee structure and acceptance of insurance. Our target market values individualized and confidential counseling sessions that cater to their unique needs. By offering a personalized approach, we seek to build trust and rapport with our customers, establishing long-term relationships that can improve overall mental health outcomes.
Our ideal customer archetype is an individual who values personal growth and is willing to invest time and energy into their well-being. They may be struggling with mental health issues, relationship problems, or life transitions and are seeking a safe and supportive environment to explore their emotions and experiences. They are proactive in their search for a counselor who aligns with their values and can provide individualized care. Our satisfied clients will be the main advocates for our business, sharing their positive experiences with friends, family, and colleagues.
Based on our market analysis, there is a growing need for private counseling services that are affordable and accessible to all individuals. Our fee-for-service model, coupled with sliding scale fees and acceptance of insurance, allows us to cater to customers with various financial backgrounds. This provides us with the potential to tap into a larger market and attract individuals that may not have considered private counseling services before.
Furthermore, by building trust and rapport with clients through individualized counseling sessions, we create long-term relationships that can lead to referrals and increased business. As our reputation grows, we anticipate expanding our services to include group counseling and workshops, allowing us to tap into a whole new market and further make a positive impact on the lives of our clients.
Market analysis reveals several potential competitors for our private counseling practice. The table below provides a summary of these competitors:
As can be seen, our fee-for-service counseling practice offers unique benefits such as sliding scale fees and acceptance of a wide range of insurance. We will differentiate ourselves from competitors by offering highly individualized counseling sessions to meet the unique needs of each client.
Marketing and Sales Plan
Our marketing and advertising strategy will include a combination of online and offline channels to reach our target audience. We plan to allocate a budget of $5,000 per month for marketing purposes.
Our advertising channels will include:
Our goal is to increase the number of clients we serve while maintaining a high level of quality care. We will regularly review our advertising efforts to determine which channels are most effective and re-allocate our budget accordingly.
Location and Facilities
MindHeal Private Counseling Practice will be based in Los Angeles, California. We have selected this location as it has a high demand for mental health services and a large potential client base. We plan to lease a space with adequate space for both our counseling staff and clients to ensure privacy and comfort during counseling sessions. The lease will include utilities, such as water, electricity, and internet services, to ensure smooth and efficient operations in our counseling practice.
The cost of the lease and utilities will be a significant expense in our cost structure. However, it is an essential investment for our business to provide the best service to our clients. Our rental space will be designed to cater to individualized counseling sessions and provide the necessary facilities for our counseling staff to conduct their work professionally.
Our counseling rooms will be designed to ensure privacy and safety for our clients, and our waiting area will be comfortable and inviting. We will also invest in computer systems and software to manage client records and billing processes efficiently. The services we render will be of the highest standard, and our facilities will reflect this standard of excellence. We will ensure that our clients feel comfortable and welcomed from the moment they enter our counseling practice.
MindHeal Private Counseling Practice will utilize technology to streamline record-keeping and billing processes. We will also implement video conferencing software to allow for remote counseling sessions when necessary. We understand that technology is an essential tool in today's business world, and we plan to leverage it to provide efficient and effective services to our clients.
In addition, we will employ user-friendly software to provide clients with access to their counseling records and appointment scheduling. This technology will not only improve our operational efficiency but also enhance the client's experience with our practice.
Our counseling staff will be trained to incorporate technology into their counseling sessions, utilizing online resources and tools to assist clients in achieving their mental health goals. We believe that technology can play a significant role in supporting the counseling process and enhancing outcomes for clients.
Equipment and Tools
Our private counseling practice requires certain equipment and tools to ensure that we deliver the highest quality counseling services to our clients. Here is an outline of the equipment and tools needed along with the cost associated with purchasing or renting them:
By investing in the necessary equipment and tools, we can provide a comfortable and private environment for clients to open up, and ensure that our counseling staff has the necessary tools to keep up with record-keeping and billing, and effective marketing and advertising materials to showcase our capabilities.
Management and Organization
Our private counseling practice will have a simple, yet efficient organizational structure. The following table shows the roles and responsibilities of our employees, as well as the flow of information within the organization.
The counseling staff will report to the Clinical Director, who will oversee the operations of the practice. The Clinical Director will report to the Practice Owner, who will have the ultimate responsibility for the success of the business.
At present, we have identified several potential candidates who could take on high-level management roles within our private counseling practice.
Name - position - experience
1. John Doe - Clinical Director - 10+ years of counseling experience and a Ph.D. in psychology
2. Jane Smith - Office Manager - 5+ years of experience in managing medical practices
3. Michael Brown - Marketing Director - 7+ years of experience in healthcare marketing and a Bachelor's degree in business administration
As the business grows, we anticipate bringing on additional staff to support our management team and ensure the highest level of service for our clients.
Management Team Gaps
Currently, there are no identified gaps in the management team of the Private Counseling Practice. The qualified and experienced counseling staff are able to handle all aspects of the business, including conducting private counseling sessions, maintaining client records and billing systems, and working with insurance companies. However, as the business grows, there may be a need for additional staff members with expertise in marketing and business development to expand the business's reach and increase revenue streams.
Below is a table of potential positions that we expect to require in order to run our Private Counseling Practice effectively:
We will prioritize hiring licensed and qualified staff who are passionate about providing high-quality counseling services to our clients.
Company History and Ownership
MindHeal Private Counseling Practice is a newly established business based in Los Angeles, California. The company was founded by a group of experienced counselors who have been providing private counseling services for several years. They realized that there was a growing need for affordable and personalized counseling services that could cater to individuals with different financial constraints.
The founders have a deep understanding of the mental health challenges faced by individuals and are committed to providing high-quality counseling sessions that address the unique needs of each client. They have built a strong reputation in the community for their professionalism and ethical practices, which have led to a growing demand for their services.
MindHeal Private Counseling Practice is privately owned and operated by the founding team. The team is comprised of qualified and experienced counselors who are passionate about helping individuals overcome their mental health challenges. They are committed to upholding the values of the company and providing exceptional services that positively impact the lives of their clients.
As part of our management and organization plan, MindHeal Private Counseling Practice will establish a detailed roadmap of specific goals and objectives to achieve. This will help us manage and steer our business towards growth and success. The following HTML table outlines our key milestones:
As a private counseling practice, it is essential to measure the overall performance and health of the business to ensure its success. Key Performance Indicators (KPIs) help gauge the efficiency and effectiveness of the practice in meeting its goals. Some key metrics include:
- Revenue per client
- Total number of clients served
- Insurance reimbursement rates
- Client satisfaction rates
- Referral rates from insurance companies
These metrics will be regularly tracked and analyzed to make informed decisions about the practice's operations and goals.
Financial Plan and Metrics
Projected sales for the next three years are broken down by product categories in the table below. The first column shows the Sales Forecast, with the Total amount at the bottom. The rest of the columns are for the years 2023, 2024, and 2025.
We estimate that our revenue streams will be generated through fees charged for private counseling sessions and insurance reimbursement for services provided. Our projected sales forecast shows a steady increase over the next three years, with total sales reaching $530,000 in 2025. This growth is due to our commitment to providing our clients with personalized counseling sessions that meet their unique needs and our acceptance of insurance, which reduces costs for clients and encourages more people to seek our services.
Starting and operating a private counseling practice incurs various costs. Below are the expected or incurred costs for the business:
It is important for the business to closely monitor its expenses and ensure that revenue generated exceeds the costs incurred for a successful operation.
Projected Profit and Loss
Our revenue streams will come from fees charged for private counseling sessions and insurance reimbursement for services provided. Based on our business model canvas and market research, we project the following profit and loss statement for the first three years of operation:
*Expenses include salaries and benefits for counseling staff, rent and maintenance for facilities, and technology and software costs for record-keeping and billing.
Based on our projections, we expect to see a steady increase in revenue and profit over the first three years of operation. By offering personalized counseling sessions with sliding scale fees and accepting insurance, we will be able to attract and retain clients while also maintaining a profitable business.
Projected Cash Flow
Here is a projected cash flow statement for MindHeal Private Counseling Practice for the next three years (2023, 2024, 2025). All amounts are in US dollars.
The inflow represents the revenue generated from fees charged for private counseling sessions and insurance reimbursements. The outflow represents the cost of salaries and benefits for counseling staff, rent and maintenance for facilities, and technology and software costs for record-keeping and billing. The net cash flow represents the difference between inflow and outflow for each year, while the cumulative net cash flow represents the total net cash flow accumulated over three years. The projected cash flow shows that MindHeal Private Counseling Practice can generate a positive cash flow while meeting its operational expenses and investing in its growth over the next three years.
Projected Balance Sheet
Below is a table representing the balance sheet statement for the next three years of our Private Counseling Practice Business plan. The first column shows the Balance Sheet Categories for Assets, Liabilities, and Equity, while the other columns are for the years 2023, 2024, and 2025.
As shown in the above table, we are projecting steady growth in our assets and equity over the next three years. Our liabilities are also expected to increase at a slower pace, reflecting our conservative approach to debt management. We are confident that our solid financial foundation will enable us to continue delivering high-quality counseling services to our clients while increasing profitability for our business.
Our private counseling practice will initially hire two licensed counselors to provide our services. Compensation will be based on experience and education, but will include a competitive salary and benefits package. As our client base grows, we plan to hire additional counselors and administrative staff as needed to support our operations. We will ensure that our personnel team has the necessary training and resources to provide high-quality counseling services while fitting seamlessly into our overall business operations.
Use of Funds
The $500,000 in startup funding will be used as follows:
These funds will be critical to the success of MindHeal Private Counseling Practice, enabling us to provide top-quality counseling services to clients in Los Angeles, California and beyond. We are confident that our fee-for-service model, coupled with our insurance reimbursement and sliding scale fee structure, will allow us to grow our client base and establish ourselves as a trusted provider of private counseling services over the long term.
Our goal at the private counseling practice is to establish a sustainable business model that can grow and evolve over time. While we are committed to building a successful business, we also recognize the importance of having an exit strategy in place to ensure a smooth transition should the need arise.
One potential exit strategy could be to sell the business to another private counseling practice or mental health organization. We would consider this option if a suitable buyer presented themselves and we believed it would be the best outcome for our clients and staff.
Alternatively, we may consider passing the business down to a family member or employee who has demonstrated exceptional dedication and leadership within the organization. This option would ensure continuity of care for our clients and would allow us to maintain the values and principles that we have established throughout our time in operation.
Whatever option we choose, we are committed to working closely with all stakeholders to ensure a smooth and successful transition with minimal disruption to our clients and staff.
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In private practice you have to wear a “business hat”…
When starting or building a counseling private practice you not only have to wear a “therapist hat” but also have to wear a “business hat”. Because in reality, a private therapy practice is a business! Even if it is a non-profit organization, you have to know something about business models and have some basic business knowledge to make it successful.
In this article, I want to outline some basic “business models” for running a private therapy practice (not business plans; I hope to cover that later). First of all, what is a business model and how does it differ from a business plan? One definition of a business model is simply the design or plan for making money. It is how you identify where the money comes from and how it flows in the private practice. It also defines who runs the business and provides the services. A business plan differs in that it is more specific. It lays out specific financial goals and how you will reach them.
To put all this in counseling or therapy jargon:
Business model = treatment approach/model, business plan = treatment plan.
Let’s look at some examples business models for private practice as a therapist. What I will focus on is how the money “flows” or comes from in these examples which ultimately determines your salary as therapist.
(download your free copy of this infographic), sole proprietor model.
This is essentially the simplest model and what most people tend to think of when they go into private practice as a counselor. In this model you are responsible for generating your own referrals, record keeping and paying yourself from your own business account. Clients contact you and simply pay you directly for your time. You are also responsible for paying your overhead or the cost of doing business (rent, electric, phone, advertising, and other office expenses, etc.). Your net profit (take home pay) is the money you have left after paying the bills. As mentioned already, it is the simplest way to do business.
Another, sub-category of this model would be if you decided to take third-party or insurance payments. This adds another layer of overhead in that you would have to make insurance claims or hire someone to do this for you. There are several pros and cons of accepting third-party payments. Pros would be that it does tend to increase the number of referrals you get. It also can be more convenient for clients who want to use their health insurance benefits. The cons are that you will have to settle for what the insurance companies say they will pay you (lower rates) and that extra layer of overhead I mentioned.
Co-op or Shared Practice Model
In this business model you essentially operate as a sole proprietor but with the benefit of sharing overhead costs with a partner or other therapist. Each person involved in the private practice operates independently. You would still be responsible for generating your own referrals, record keeping and paying yourself. The difference though is being able to split or share the cost of running an office with someone else that is a therapist.
Many times people that partner like this will also take the step of forming an LLC or other legal partnership, like a corporation, to protect themselves legally and have a way to handle the accounting and tax implications. It does require that you form a legal entity which can be done easily with a service like Swyft Filings * or other attorney services. Also check with an accountant about possible tax implications in forming an LLC or other business entity. It is an extra step and expense. But do seek the advice of a professionals on this (attorney, CPA, etc.).
*In the spirit of full disclosure, this is an affiliate link which simply means we receive a commission at no extra cost to you if you use this link to purchase. Thanks in advance for using the link!
Contract Counseling Models
With this type of business model there are two sides of the equation to consider. One side of this would be the private practice owner that is “hiring” a contract counselor to provide therapy services for the practice. The other side of this would be from the perspective of the therapist that was being contracted. Usually with this model the fee contract counselor receives is either on a per case flat rate or as a “split fee”. With a “split fee” the private practice owner would give the contract counselor a percentage of the total fee collected for the practice. Typical fee splits are 60/40 or 70/30. For example, with a 60/40 split, the therapist that provides the session keeps 60% of the total fee collected and the practice keeps 40%. A flat rate is just a set per session fee the practice would pay the therapist for seeing that client at their practice regardless of what is collected from the client.
Contract Counseling “PRN” Practice Model
In this business model, the private practice is still operating as a sole proprietor or business entity, but is essentially “free lancing” or offering to provide their services as a therapist to other established practices. It may or may not be a group practice. This is often referred to as “PRN” or “as needed” work or. It might be that an established practice has a waiting list and they need to get clients in to see a counselor before the clients decide to go somewhere else. The practice would contract with a therapist to see those clients for set fee or split fee. Another example would be if a private practice therapist were to go on vacation and needed another therapist to be on-call or see clients for them while they were gone.
With the contract counseling models of private practice, the therapists you have “hired” are not employees and they will need to bill you for their services to keep the IRS happy. At the end of the year you will need to complete a 1099 form with the IRS showing what you paid them during the year. If a person is working as contract therapist, they are responsible for paying their own withholding and income taxes. If you are working as contract therapist it might be to your advantage to pay quarterly, prepaid taxes. Again, consult professionals on this!
Group Practice Models
Group practice business models can vary quite a bit. Typically, they use one of the previous mentioned shared practice or contract counseling models or a combination of them with the counselors working within the group.
Independent Group Member Model
In this sub-model of group practice, each person that is part of the group is considered in private practice on their own, but are simply using the “brand” of the group to promote their own individual practice. It might be that the group practice does all of the advertising and referral generation as part of what they provide in return for the fee split. Any number of fee arrangements could be made as part of this type of business arrangement. Usually with a group practice like this, there is one or two “owners’ of the practice and it is usually set up as a legal entity. Essentially, all of the members of the group are contracted by the practice to provide services. Some or all of the group members might own a part of the practice.
Employer Group Model
The other thing a group practice might do is simply employ therapists for a set salary or hourly rate. Unless it is a large practice, hiring therapists as employees has some disadvantages. Number one is that, as an employer, you have to provide benefits such as disability insurance and health care for those people employed by the practice. All of this adds to the overhead expense and somewhat to your liability. You also have to abide by the employment laws of your state and pay for workman’s compensation insurance. You have to track and pay withholding taxes for employees. Needless to say, as the owner of this type of private practice you will be managing employees and be responsible for much more paperwork. This, of course, affects your bottom line. Of course for therapists working for a private practice that has employed them you are technically not in their own private practice. They are an employee of that private practice.
There is not one counseling private practice business model that is necessarily better than another. It all depends on your individual needs and financial goals. For most therapists in private practice, they start as a sole proprietor and build from there. And there are some that simply start as a contract counselor for an already established practice. Regardless of how you start or grow your private practice as a counselor, educate yourself and just do it!
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How To Develop A Private Practice Business Plan
- May 30, 2022
- Becky DeGrossa
Last week, Howard Baumgarten of Smart Practice Central joined me to share his expertise with the CounselingWise community. In the webinar, he talked about the importance of having a private practice business plan for counseling, as well as what goes into creating one.
One of the things I took away from his presentation was to be successful, you need to be prepared, and you need to have a plan.
As the owner of a small business myself, I know that having a solid plan in place has been a vital aspect of CounselingWise’s growth and success. I’ve found that having a plan is what drives a business forward to achieve its goals . Without a plan, as Howard mentions, you are less successful.
During the webinar, Howard talked about the 11 different parts (or “modules”) of a business plan . Each part is equally important and pieces together an organized view of any business. Today, I am going to highlight five parts of Howard’s business plan. To learn about the other six (equally as important) parts, be sure to check out the webinar replay here .
Before we dive into the different parts of a successful business plan, I want to lead you with something to think about. During the webinar, Howard advised, “ Think about your business plan as a matter of survival in your professional life . It’s an opportunity for you to really organize yourself and appraise what is going on in your business.”
5 Key Parts of a Successful Business Plan
1. the four c’s of your vision.
If you are familiar with the SWOT technique (a planning method use to evaluate your strengths, weaknesses, opportunities, and threats), then the 4 C’s will be something you relate to .
Because he didn’t want to focus on a person’s weaknesses or threats, Howard viewed this planning method through a different colored lens.
The 4 C’s stand for:
- What Are Your Capabilities? (your strengths)
- What Are Your Challenges? (your weaknesses)
- What Are Your Chances? (opportunities)
- What Are Your Concerns? (threats)
This piece of the counseling business plan is key to evaluating your practice from a personal and professional level.
Take out a pen and paper and jot down all of the above as they apply to you. Get a piece of paper and breaking it into four columns. In each column, write down your professional and personal capabilities, challenges, chances and concerns. One thing to keep in mind—it’s okay to have the same thing in multiple categories.
By having your capabilities, challenges, chances, and concerns outlined on paper, you can better plan for the future of your practice and your personal life .
It forces you to take what’s kind of hazy and abstract in your head and makes it a tangible reality. That way then you know where you stand and how to move forward with your vision for your practice.
2. Your Mission Statement
The next part of the private practice counseling business plan I want to highlight is your mission statement. In Howard’s presentation, he said to ask yourself…
“What is my purpose? What was I born to do? What do I really want to do? How do I want to affect the populations I am working with? What am I empowered to do?”
By answering the above questions, and really digging down into the meat of the reason you get up every morning , you will develop a wholehearted mission statement for your practice.
But what does developing a mission statement look like in practice?
For his therapy practice, Howard’s mission statement is, “ Build something new in order to change something old in order to grow .”
One thing to keep in mind when writing your own mission statement…
Make sure you are writing the statement in lay terms , and not professional/clinical terms. Try to stay away from words like “depression,” “anxiety,” etc. You are writing this not only for yourself, but also for your clients.
3. Your Services
This is the who , what , when , where and why of your services as a private practitioner.
This part of the private practice business plan is key to giving you the clarity you need in terms of the services you provide , and the services you may want to offer in the future.
- Who? Who are you working with? Who are the populations you treat? Do you work with couples, adults, children (what age children?), teens? What kind of couples do you work with? For example: high conflict, couples about to get married, etc. Really dig deep into the “who” of your services to determine what clients you have and what clients you want.
- What? What are the issues you want to focus on? If the “who” is couples, what type of couples issues do you want to work with? Howard’s example was that he likes to work with couples that have a high degree of conflict and are tired of fighting with each other.
- When? When are you providing your services? When you are first starting out, as Howard mentioned, it could be Fridays and Saturday mornings. When you build your practice more, you can shift your hours more and more. Determine when you want to practice and include it in your plan.
- Where? Where do you want to practice? Maybe you want to do a day in a doctor’s office. Maybe you want to offer therapy out in the community, or in the wilderness. Think creatively about where you want to practice. It will maximize the benefits of your services.
- Why? For the why, you will want to see your mission statement. The why is all about your passion and purpose.
- How? How do you treat your patients? This is all about your treatment intervention style (EFT, mind-body-connection, EMDR, etc). What are your technique leanings?
This part of the plan is powerful. It helps move you in terms of defining yourself and who you are. You will also draw from this part as your quick “this is what I do.”
As you are completing this part of your business plan, keep in mind that you will probably have three or four different sub-sections under each of these .
Answer each question for each service you offer or want to offer. Eventually, this will all be useful information that you’ll want to include on your website.
If you’re thinking ahead and want to use this exercise to generate content for your website, check out how to write informative specialty pages .
4. Personal Growth
To grow professionally, it’s important to take care of yourself so you can grow personally.
In order to have a healthy work-life balance, you will want to focus on 4 main areas :
- Nutrition: Are you eating a healthy, well-balanced diet?
- Sleep: Are you getting enough sleep?
- Exercise: Are you moving your body?
- Spirituality: Are you expressing yourself spiritually? This could look like anything, such as a religious practices, time in nature, yoga , etc.
Think of things that are important to you on a personal level and write them down. Personal growth is a key piece of your business plan.
Because if you don’t grow yourself, how can you expect to grow your private practice? It all works in concert, together.
The Administration part of the private practice business plan can be hard, especially if you are used to being a one-person show.
And if you think you can run the show without any professional support throughout your entire career, you will be spread very thin .
As part of your counseling business plan, you need to create an administration plan to ensure you have the support you need to build a successful practice—and keep your sanity.
Think about the people who you currently have supporting your practice professionally. Then think about the people you may want to include in your group of practice professional support.
Naturally, some people may not be ready for this, so think about this part of your private practice counseling business plan when you are ready.
You know you’re ready when you say to yourself, “I am getting really sick and tired of doing this admin task, and I am now in a place where I can afford to hire someone to do it for me.”
By getting support, you free up emotional space so you can pursue things that drive your interests and passions . This is a vital piece to your professional growth.
Administrative support includes but is not limited to…
- a medical biller (if you accept insurance),
- a bookkeeper,
- an accountant for tax purposes,
- a financial manager/adviser,
- an investment banker,
- a corporate attorney,
- an insurance agent,
- a commercial real estate broker (rent or buy)
- and a virtual/actual assistant.
Each part of the counseling business plan that I discussed today is vital to a successful practice. Your business plan, however, really isn’t complete without the remaining six. To learn about all 11 parts, and to learn more from Howard about a successful business plan, watch the webinar replay here .
You can also download the Business Plan Template here .
One last tip : Don’t just write your plan and forget about it. Howard recommends going back every six or so months to revisit the plan and stick to your goals.
You can also watch my interview with Howard Baumgarten, founder of Smart Practice Central, below.
Enjoy the replay!
Why The New Google Analytics May Show Less Data
Over the Summer of 2023, Google Analytics updated to its latest version, called Google Analytics 4 (or UA4). Not only has the rollout changed the layout of Google Analytics but it’s also changed the way Google Analytics collects data. You may have noticed changes to your own Google Analytics data for your Private Practice website.
The Top Therapist Directories (Pros, Cons, and Costs to List Your Practice)
You’ve heard of therapist directories. Maybe you even discussed the effectiveness of getting listings and which ones to use and avoid with your professional colleagues. So, is investing your time in therapist directories like Psychology Today or Good Therapy worthwhile?
What High Ranking Blog Posts Do For Your Site
As part of a ranking strategy Private Practice owners should utilize blog posts for their website. Why? Because blogs are a necessary component of a smart SEO strategy if practices are going to connect with their potential clients through Google. Blogs are one of the most proactive means by which Private Practices can increase their
What Counseling Compact Means For Private Practices
Sometime during 2024, Counseling Compact will enable therapists to work with potential clients outside of their licensed state, so long as their state has joined the Compact. One of the main motivators for the compact is so that if a therapist is working with a client, and they have an established relationship, and that client
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Counseling Private Practice Business Plan Template
Written by Dave Lavinsky
Counseling Training Business Plan
Above the past 20+ years, we have helped over 500 entrepreneurs and business owners create business plans into commence and grow their counseling personal practices. Switch this cover, we will first deliver your some backdrop info with regards to the importance of business planning. We will then go through a counseling private practice business plan template step-by-step that you can create you plan today.
Download our Ultimate Business Plan Template dort >
As Is a Business Plan?
A business plan will a snapshot of your counseling private procedure while it stands today, furthermore lays out your growth plan fork the next five years. It explains your business goals and your strategy for reaching them. It also includes market research toward support your plans. Counseling Center. BUSINESS PLAN JUNIPERBERRY COUNSELING CENTER (JCC). 1600 West Main Street Ann Arbor, Michigan 48106 ...
Why You Need a Business Plan
Provided you’re looking to startup a counseling individual practice, or grow your existing counseling private practice, you needs a business plan. A business plan will help you rise project, if needed, additionally plan out the growth starting owner counseling private practice in order to improve autochthonous chances of success. Your business plan is a home document that should be upgraded annually as your company grows and changes.
Sources of Funding for Counseling Home How
With regards to funding, of hauptinsel sources of funding for adenine counseling private practice are personal savings, credit cards, bank borrow and angel investors. With regards into bank loans, banks will want to review your business plan and gain confidence that yours willingly be able to repay your home or interest. To acquire this confidence, the home officer will not only want to confirm this your financials are reasonable, but they will also want to see a professional plan. Such a plan will give yours one confidence that you can successfully and professionally operate a employment. Particular savings furthermore bank rental become the most gemeinschafts funding paths forward counseling private practiced. A business planned must be written to urge you in take action on developing business aspects including resourcing, marketing, additionally financial planning.
How To Write ampere Business Plan For a Counseling Private Practice
If them want to begin a counselling private practice or expand your current one, you need a business design. Below are links to each section on your consult private practice economic plan template: DEVELOP A BUSINESS PLOT. Your written plan should include: •Goals (professionally, financially, etc.) and plans for achieving each one daily,.
Your generaldirektion summary provides an introduction to your business plot, but it is normally the last section you write because information provides an summarize of each key section of your plan. When planning their transition into a counseling private exercise, you'll like into commence with a sound business plan. You may even need this ...
The goal of your Executive Contents is on quickly engage the reader. Elucidate to them the type of counseling private practice you are operating and the status. For example, are you a startup, how yourself have one counseling private practice that you would like on grow, or are you operating a chain of counseling private practices?
Then, provisioning a summary are each of the subsequent sections of your plan. By example, give a brief overview of the counseling private practice industrial. Discuss the type of counseling private exercise you what operating. Detail your direct competitors. Give einen overview of your focus customers. Provide a snapshot of your marketing plan. Determine the key associates of your team. And offer an company of your financial plan. Get Growthink's Counseling Residential Practice business plot template at simple create your guidance personal practice business plan.
In your company analysis, you will detail the artist of advice private practice her are operating.
For examples, your counseling private practice might specialize in can of the subsequent divisions:
- Clinical psychology : diese type of consulting private practice assesses, diagnoses, feasts, and prevents mental disorders. Specialization within clinical psychology may focus on areas create like neuropsychology, geropsychology, child psychology, other.
- Industrial-organizational psychology: this kind of counseling private real specialize in applying who principles about psychology to the workplace, to assist with a range of ADMIN issues such as employee retention or productivity.
- Marriage and family therapy: this type of counseling private practice is legally toward diagnose and treat mental and emotional disorders within one context of get, couples, and family systems.
- Social work: this type of counseling private practice does services such as individuals and group therapy, crisis intervention, and child and family counseling.
Within addition in explaining the type of private practice you will arbeiten, the Company Analysis section of will business plan needs to provide background on the business.
Include answers to question similar as:
- When and why did you start the business?
- Whats milestones had you achieved to date? Milestones could inclusions the number of patients served, number of incidents with positive outcomes, reach X numerical of clients served, etc.
- Respective legal structure. Are you incorporated as an S-Corp? An LLC? ADENINE sole proprietorship? Explain your regulatory struct here.
Is your industry analysis, you need to provide an overview concerning the counseling private practice manufacturing.
While that may seams unnecessary, it servers repeat purposes.
First, researching the counseling private practice industry educates you. It helps you understand the market in this you are operating.
Secondly, market research cannot improve your strategy, special if your research identifies market trends.
The third reason for market exploration is to prove to scanning that you are an expert in your sector. By direct the research and presenting it by their plan, you achieve just that.
The following questions should be answered in the industry scrutiny section the your private custom business plan:
- Wherewith major will the counseling private practice industry (in dollars)?
- The the market declining or increasing?
- Who are the key competitors inside the market?
- Who are the key suppliers in the market?
- What trends live effects the industry?
- What is the industry’s growth forecast over the next 5 – 10 years?
- What is the relevant market size? Which is, how immense is the potential market for your consultations private practice ? You can infer such a figure on assessing the size of the market in one entire country and then applying so number to yours native population. CEO/ FOUNDER. LIFE OPTIONS COUNSELING SERVICES LLC. ... Our Business Plan should be a ... Yours Business Design is a live document that.
The customer analysis section of your counseling practise business plan must detail the customers him serve and/or expect to serve.
An following are examples of customer segments: individual, institutes, families, both corporations.
As you canister imagine, the customer segment(s) you choose will have a great impacts on the type of private practice you operate. Clearly, individuals would respond to different marketing promotions than corporates, for example. Benefit this free Counseling Personal Practice employment plan screen to easily create a fine business plan to start or grow your business.
Try to break outward your objective consumers in terms of their demographic and psychographic profiles. With regards to demographics, include an discussion of the ages, genders, locations and income levels are the customers you seek to teach.
Psychographic profiles explain the wills and needs of your target customers. The more you can understand and defined these needs, the beats you will do in attracting and retaining your customer.
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Your competitive analysis require identify and impeded and directly competitors your economy faces plus then focus for aforementioned latter.
Direct competitors are other counseling private practices.
Indirect competitors are other options that client having up purchase from ensure aren’t direct competitors. This contains psychiatrists, other healthcare providers, or members on the clergy. Yourself need to must that competition as well.
With regards to direct competition, it want go describe this other consultancy private business with the you compete. Most likely, your direct competitor will be guidance private practices located very close to your location. Residential Practice Counselling Business Plan
For any such competitor, provide an overview concerning ihr businesses and documentation their strengths or weaknesses. Unless you einmal worked on your competitors’ trade, it will be impossible to know everything about them. But you should be able to find out key things info them how as: Starting A Private Practice
- What types of customers do they serve?
- What type of legal private practice are they?
- What remains their pricing (premium, low, etc.)?
- What are it good at?
- What are their weaknesses?
With regards to the last two questions, think about your answers from who customers’ perspective. And don’t exist afraid to ask your competitors’ customers what they like most furthermore least about them.
Aforementioned final part of your budget analysis section will to document you areas for competitive advantage. For example:
- Will you provide options for the uninsured?
- Become i provide services that your competitors don’t offer?
- Will you provide better customer service?
- Will you offer enhance appraisal?
Think about ways you will outdo your competition and document they in this section of the plan.
Historically, a marketing plan contain the four P’s: Choose, Price, Place, and Encouragement. For a private practice, your marketing layout must include of ensuing: If you are wondering how to write a private counseling practice business plan therefore here we are offering you it for your startup. Download business plan in pdf
Product : In to product section, you ought retry the type of counseling private practice company ensure you documented in your Company Analysis. Then, detail the specialized products you will be offering. For example, will them provide psychodynamic therapy, behavior therapy, cognitive therapy, or integrative therapy?
Price : Document the prices you will our and instructions they compare until owner competitors. Essentially in the product and price sub-sections of choose marketing plan, you is presents the services you offer and they prices.
Place : Place refers go aforementioned country of their counseling personal practice company. Document owner location and mention how the location will impact your success. For example, is your counseling personal training located in a busy retail district, a business district, a standalone office, etc. Discuss how your location ability be the ideally location used your client.
Promotions : The definitive part of your counseling private practice marketing plan is the promotions section. Here you will document how you will drive your to to location(s). The following are some promotional methods you might consider:
- Advertising in local working and magazines
- Reaching leave to websites
- Social media marketing
- Local radio advertising
While this soon sectional of your therapy business plan explained your goals, your operations schedule explains how you bequeath meet them. Thine operations plan must have couple distinct areas as follows. ONE One Pages Business Plan for Your Therapy Practice
Everyday short-term processes include sum of the tasks concerned in running your call private practice, contains answering phone, planning and provide therapy sessions, billing insurance and/or patients, etc.
Long-term goals can the milestones you hope to achieve. Like could include the dates when you anticipate the buy your Xth sitting, or when you hope to reach $X in revenue. It ability and be when yourself expect to expand your counseling private practice to a add city.
To demonstrate their private practice’s ability the succeed, a strong management team is essential. Highlight our keyboard players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company. Counselling Center Business Plan - Executive quick, Company ...
Ideally thou and/or your squad members have direct experience in managing counseling privately practices. If so, highlight this experience and expertise. But also accentuate any suffer that you think becomes help your business prosper.
Wenn your team is lacking, note assembling an advisory lodge. An consultive board would include 2 to 8 individuals who would act like sponsors to your enterprise. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in managing a counseling private how or favorably running a small healthcare practice.
Your financial plan should involve your 5-year financial report broken get both monthly conversely quarterly for the first year additionally then annually. Your financial statements include your income statement, balance sheet and cash flow statements. Jul 12, 2020 - Are you about starting a consultancy firm? If YES, here is a sample physological counseling private practice business plot original & feasibility report
Income Statement : an income statement is more commonly called an Profit and Damage statement or P&L. It shows your revenues and then subtracts your cost to show whether you turned a profit or not.
In emerging your income statement, you must to devise assumptions. For example, will you see 5 patients per day, and/or offer grouping therapies session? And will sales grow of 2% or 10% on year? As you bucket imagine, your choice of guiding will greatly impact the financial forecasts for your business. As much as possible, conduct research to strive to root your assumptions in reality.
Balances Sheets : Balance sheets show your assets and liabilities. While balance bows could include much information, try till simplify them up the key items she need to know about. For single, if you spend $50,000 on house go your counseling private practice, this is non give you right profits. Sooner it is somebody asset that will hopefully aid you generate proceeds for years to come. Likewise, if one bank writes you a check forward $50,000, you don’t need into pay it reverse immediately. Rather, that can a liability you will pay back across point.
Cash Gush Statement : To cash run statement will help determine how much money you need to start or grown your business, and make sure you never run out of money. What most entrepreneurs and business owners don’t realize is that yourself can turn a profit but run out of currency plus go bankrupt.
In developing your Income Statement and Net Sheets be security in include several of the key fees needed in starting or growing adenine private practice:
- Cost of computer software.
- Cost concerning furniture and supplies
- Payroll press salaries payers to staff
- Store insurance
- Taxes plus permits
- Legal costs
Attach respective full financial projections in the appendix of your plan along use any supporting documents that make your plan more compelling. Forward model, you might include your office location lease conversely an list of security plans i accept. Totally literally, it's a plan for your business, their therapy business. Each practice a as individuals as the physical it supports, and that's what a business.
Putting together a business plan for your therapy private practice is a worthwhile endeavor. If you follow the template above, by this time she are done, you will will an expert consultations private practice business plan; download it to PDF to show banks and financiers. Him will reality understand of counseling private practice industry, your tournament, and your customers. You will have developed ampere corporate plan and will really verstehen what is captures up launch and grow a successful private practice .
Counseling Private Practice Business Plan FAQs
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The gate of your Executive Summary is to quickly engage the reader. Explain to their that type of private practice you are operating and the status; to example, are you a startup, do you have a private practice that you would like to grow, or are you operating adenine chain of private practices?
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Other Useful Business Plan Items & Templates
This Business of Therapy
Private practice counselling business plan.
About to start a counselling private practice? And looking for an easy-to-follow guide on writing a business plan that works? Our private practice counselling business plan template is for you!
But before getting into the specifics let’s first first address 2 key questions…
Quite literally, it’s a plan for your business, your therapy business.
Each practice is as individual as the therapist it supports, and that’s what a business plan is, a support for you as you step into the shoes of being a self-employed professional.
It’s also a structure to help you to clarify what you want and a guide of how you are going to go about it as a new private counsellor.
How my counselling business could benefit from it?
A business plan will help you:
- Analyse the environment in which your practice is going to be established
- Identify which areas in counselling are in high demand
- Establish what services you would be offering
- Differentiate you from competing private counsellors
- Set up your financial goals
- Create a marketing plan for your counselling business
- Stay accountable to your business goals and aspirations
And with the basics out of the way let’s get straight into our template…
1. Profession Overview: Environment, Trends & Competition Analysis
The first piece of a counselling business plan is often looking at the environment in which the practice is going to be established. So ask yourself, what is going on in the therapy profession as you set out to create your counselling practice, and what is likely to be the impact of that on your plans? You might consider for example:
- Client Issues currently in the news
- Trends in the structure of practices (eg sole practitioner vs group practice)
- Employee Assistance Programs and Health Insurers
- VAT and Income tax issues
Ask questions, read the journals of the professional bodies, attend meetings where these issues are discussed. Learn about the business aspects of the profession you are planning to make your own.
Look around at your colleagues who are already in practice. Speak to your own therapist and supervisor. What are they doing that you like and dislike? Can you learn from their successes and their failures? How have they rooted into the community in which they are based? If you find these ideas difficult to engage with, consider doing some market research.
We none of us exist in isolation. No man is an island, as the saying goes. The environment in which we practice will influence and shape our practice.
So, a city practice will differ from a country one. Clients in the city may care less about privacy and more about proximity to a bus stop. Clients in the country may not want to see someone who they will later meet in the supermarket, and so may choose to visit a therapist in the next town. The issues a city client brings will differ from those of a country town, which will differ again from a practice in the suburbs. Where are you planning to locate your practice, and what are the unique challenges and strengths of that location and its inhabitants?
You can read more about creating a business plan for your practice, and lots of other advice about finding your way through the maze of starting a private practice in “This Business of Therapy: A Practical Guide to Starting, Developing and Sustaining a Therapy Practice.”
2. Market Positioning: Establish Your Place in the Profession
Having got an overview of the profession and started to form an idea of the bigger picture, how do you see yourself fitting in with the broader environment you explored in the previous section? Are there any opportunities that offer themselves and which might help you in setting up your own unique counselling business?
Begin to form an idea of the client you would like to work with. This is a step often missed. Think of a client you have loved to work with. What was it about them that appealed to you? Was it the issue they brought? Their personality? Their willingness to engage in the work? Their understanding of their process? Do you like working with women or men, young people or old, wealthy or financially strapped? Do you like parents or adolescents or couples?
Try to get as specific as you can. Bear in mind this doesn’t restrict who you work with, it helps you to create a better understanding of what suits you best.
- Do you know who you would like to serve? What issues draw you?
- Who is an ideal customer for you? What are their struggles and their aspirations?
- What will differentiate you from a neighbouring colleague?
- What will differentiate you from a practitioner of other modalities?
- What is special about what you have to offer?
If you are struggling to know how your therapy practice might be unique and different from your colleagues’, read more about “The Second Pillar: Knowing Your Practice,” in my book, “This Business of Therapy: A Practical Guide to Starting, Developing and Sustaining a Therapy Practice.”
3. How to Write a Counselling Service Description That Attracts Clients
All therapists have similar basic qualifications and offer similar services. But while yours and my services may appear to be similar, they are unique. Try to get a feel for the unique shape, colour and texture of your practice. How do you see yourself offering services to clients? What will those services be? How will they be structured? How do you describe what you do? What benefits will your work bring to those who you work with?
For example, you may offer your counselling sessions online, or I may visit a client’s home. You may offer a fixed term contract or have views about endings. You may feel strongly about anonymity while I may feel strongly about time boundaries. I may have experience of working with anxiety or of loss and bereavement. You may like to sit on the floor or offer your client a glass of water or a cup of tea. I may like to offer playdoh or crayons. I may wish my clients to find forgiveness for themselves and others in their lives, and you may wish them to stand up for themselves or find their voice. My own personal experiences of life will influence the therapy I offer to my clients, and so will yours.
In this context, it is important not to focus too much on your counselling qualifications. You can do the job, that is a given as far as most clients are concerned. What they want to know is that you are interested in their problems, and that you hold the hope of something better for them in the future. The 80/20 rule is helpful here. 80% of what you say about your practice should be about your clients, and 20% or less about you.
4. Private Practice Counselling Business Marketing Plan
Having a plan for how to market and attract clients to your counselling practice is an essential, unless, like I said above, you don’t care whether you get clients or not, and you don’t care about wasting time, money and effort on marketing to people who will never be clients.
A marketing plan is important to take you out of the ideas you have into the reality of taking action. Despite what the Law of Attraction proponents might suggest, a client cannot find you unless you can be seen and heard. A marketing plan sets out how you are going to be seen and heard. Your marketing plan should address the following questions:
- How do clients find you, where do they come from? (Note, if you haven’t formed an idea of who your client is likely to be, this step will be difficult for you!)
- When they first make contact, what is your aim for that first meeting?
- Do those people who make contact and who are suitable as clients for you stay as clients? If not, why not? What could you do differently to encourage them?
- Will your clients recommend you? If not, why not? What could you do differently to encourage them?
- How can you increase your income?
Be as specific as you can here. For example, if you are expecting clients to come through GPs, be clear about which GPs you are going to target and why. If the client you are hoping to attract experiences depression, research which GPs support an holistic approach to depression, and recommend counselling or psychotherapy as part of their treatment plan.
Because your aim when first speaking to a potential client is to find out whether you might be a good fit for them, think about the questions you might ask to elicit this information. What would tell you the client is a good fit for you?
In relation to increasing your income, if you struggle to turn away clients who cannot pay you your full fee, find a way of dealing with this, such as referring to a local low cost service, or having a specific number of low cost clients at any time.
Most importantly, note that we are not talking here about selling someone into a service they don’t want or need. We are not talking about coercing or manipulating. We are talking about opening a door and welcoming those who wish to enter, and are a good fit for what we have to offer.
To learn more about effectively marketing your practice read, “The Third Pillar: Growing Your Practice,” in “ This Business of Therapy; A Practical Guide to Starting, Developing and Sustaining a Therapy Practice.”
5. Risks Analysis: Challenges When Setting Up A Counselling Private Practice
There is risk inherent in every venture. The challenge when setting up a private counselling practice is to identify the risks and to find ways to mitigate them with the appropriate supports. What risks do you face in setting up or expanding your practice? Typical risks include:
- Financial risks such as losing money, or not having enough financial support to see you through the early lean phase.
- Emotional risks such as feeling overwhelmed or isolated, and fear of failure.
- Informational risks such as not knowing how to do something, or not knowing who could help.
- Reputational risks such as doing something you’re not competent to do and harming your reputation.
- Legal risks such as failure to implement relevant legislation (GDPR, Child Protection, health and safety, taxes)
Again, get as specific as you can. The more specific you get about identifying the risk (or the fear) related to being a private counsellor, the easier it will be to find a solution to help.
What supports might you need to help manage these risks? Supports might include information you need to find (eg what are the laws and how do they apply to me?), skills you need to learn and grow (for example, financial management skills such as bookkeeping and budgeting), or people supports (eg having a tribe of supportive colleagues who you meet regularly and who understand what you are experiencing.)
6. Financial Projections to Guide your Counselling Therapy Business
For example, the income in a therapy practice can be seasonal, with peaks and troughs at different times of the year, depending on client attendance. You will need to plan for the troughs, and to put some money aside in the fertile times to carry you over the lean ones, or the times when you are on holidays or sick.
Financial information also helps to form a ground from which you can set your fees. Too often, therapists look at their fees from the perspective of patients, and don’t pay enough attention to their own needs. For example, how much of a client’s hourly or sessional fee do you pay out for your rent, or your supervision? All of the fee doesn’t go into your bank account as disposable income, and the amount does not seem so big when you reduce it by the costs you will have to pay out.
Before starting you will need to clarify several parameters, such as:
- What time do you have available for your practice; think about both the client hours, patient work related hours and the practice admin and promotion hours.
- What price range are you thinking about setting for your fees?
- Start getting an idea of the costs you will likely incur, such as rent, insurance, supervision, professional memberships, CPD etc
If you are starting up, you should have some projections or budgets, that show how you expect your practice will perform financially in the first year or more of its life. If you are already in practice, in addition to projections, your business plan should also include historical information, such as an income and expenditure account.
– Here’s an example of a budget for a small practice
– Here’s an example of a cash flow projection for the next 3 months: small practice cash flow projection
– Here’s an example of an income and expenditure account. https://thisbusinessoftherapy.com/example-income-and-expenditure-account/ ( Note that it’s very similar to the budget, except the figures are historical rather than estimated for the future.)
If you worry about managing your finances, and don’t know where to start, you’ll find lots of support in my book, “This Business of Therapy: A Practical Guide to Starting, Developing and Sustaining a Therapy Practice,” it’s a guide to earning a living from the work you love.
7. Executive summary: Your Counselling Business Plan in a Snapshot
8. Counselling Business Plan Checklist: 16-Question Guide to Writing your Plan
As you prepare to write your own private practice counselling business plan, refer to this list of questions:
- Name: My practice is going to be called…
- Location: My practice is going to be based…
- Structure: My practice is going to be…
- I am setting up this practice because I am passionate about…
- The values that support my practice are…
- It is important to me that clients of my practice will benefit from working with me in the following ways…
- Clients will come to me because…
- They will pay for my services because…
- I bring these personal qualities to the work…
- I have had these experiences…
- And acquired these skills and expertise…
- I can sabotage myself by…
- My practice will be based…
- These words best fit the environment I’d like to operate from…
- My main competitors are…
- These existing services most closely match mine…
- My offering is different from my peers in that…
- My Offering: I am going to offer these services…
- I am going to provide my services to…
- I am most drawn to working with…
- Their problems are…
- Their challenges are…
- Their desires are…
- My services will benefit them in these ways…
- These factors are unique to me and my practice…
- I see my clients as coming to me through the following channels…
- I am going to reach these clients to let them know I am available to help them by…
- I have this much time available to work with clients (per week, month year)…
- I am also willing to spend this much time to work on developing my practice (per week, month)…
- My clients will be willing to pay me this much…
- They will pay me this because…
- Clients will continue to come and see me for…(weeks, sessions, months, years)
- It will cost me €… to see clients (per hour, week, month)
- These are the business risks I will be facing…
- My practice could be vulnerable in these ways…
- I intend to respond to those risks by…
- Viability: My therapy practice will be not only survive, but will thrive because…
- I want to earn € after costs, each (week, month, year)…
- The following financial statements reflect my plans as set out above:
- I intend to monitor my financial results by…