A view into the emotional journey of creating anything great. via Chris Maddern

Starting your business as a mental health professional is definitely the start of something great and will greatly benefit the world! However, everything worth anything has a cost.  The wise person will count the cost in advance, to have the resources and stamina needed for the journey.

So what should you consider when starting a private practice and how much is it going to cost you?  Some expenses are going to vary based on your geographical location, while other costs may be similar from state to state.  Here are several things you will need to consider when setting up your budget for opening a private practice:

** Whether this is needed may vary by state or county.

Notice I didn’t put a price tag next to each item?  Costs will all depend on several things:

1. Your state.

2. Your preferences (used furniture from your home or a friend versus a designer look at full price or a higher price).

3. Your level of readiness (some people love to network and market their passion and purchase the whole marketing package with website, directory listings, business cards, brochures, and folders to include additional info. On the other hand, some professionals start with only business cards).

4. Whether you rent a furnished or unfurnished office space. (rent can be anywhere from $150.00 a month to $700+ per month. This is heavily dependent upon the size of the space you are practicing in and whether you rent by the hour, day, or month).

5. Whether you purchase a phone system or use your personal phone (I wouldn’t advise using your personal phone but people do it).

6. Don’t forget the time, family, and emotional costs of being a business owner, that go along with the above list. That way you can plan ahead to have as much balance as possible.

Do you see why I don’t list specific prices now?  However, I can give you the above list. This will help you to start looking into what you will need to consider.

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