Finding the perfect location to run your business is a very important decision. You want a location that you can run that will not break your budget. But, you also want to choose somewhere that is suitable for future expansion.
Depending on your needs, different styles of property may suit your needs. If you just need a single treatment room, you can probably work from home. There is also the option to rent a location or to purchase your own office.
Decide whether you could work from home
If at all possible, running your practice out of your home may be a smart decision compared to buying a building or renting an office. It is especially common with practitioners who are still developing their practice.
But, not everyone can work from their home. If your presence disrupts the normal activity or flow, it may be a better idea to rent an office. If you don't own your home, your lease may prevent you from using it as a place of business.
Decide whether you provide a mobile service
Some Physical Therapists like to make house calls. They find it effective to go and visit patients in the comfort of their own home. Not only will it keep initial cost low, it can provide the following benefits:
- It's cheap to set up, you don't need to purchase much equipment.
- Many patients will enjoy the convenience of having their treatment at home.
- Your charges will be at least the cost of a clinic session and probably more to cover your travel expenses.
Decide if you could rent a room
It is becoming more common for Physical Therapists to start their practice in an individual room in an office, at a gym, or at a therapy centre.
This is often a way to reduce costs as many places that rent rooms are very flexible. You should be able to find rooms available on a half day or even hourly rate. This means you don't have to take on the expense of renting a room full time.
By renting a room, you don't have to pay utilities or other costs. You can still move to a bigger facility once your practice grows.
Sometimes Physical Therapists can even negotiate further with landlords to set up a profit sharing agreement to save on costs further.
Decide if you should open a therapy clinic
As their practice grows, many Physical Therapists desire to open their own full service clinic, in a location dedicated just to their business. Expansion is easier, and there is a lot more flexibility in this play. The only problem, though, is that initial costs are very high and running costs are still quite large.
Make sure you have a quality business plan before starting any business.
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