Thinking about opening a divorce counseling and mediation business? We tell you what you need to know to get started.
Profile of Divorce Counseling & Mediation Entrepreneurs
Divorce counseling and mediation entrepreneurs are dedicated professionals who routinely work with couples and families that are either at-risk for divorce or have begun divorce proceedings.
Most divorce counselors and mediators have received specialized training in their field. It's common to encounter PhDs, certified marriage & family therapists and other trained professionals active in divorce counseling and mediation entrepreneurism.
As an aspiring practice owner, it's important to equip your startup with the business tools and entrepreneurial attributes it needs to compete in your market. Even though your primary motivation for starting a counseling and mediation business may be altruistic, the survival of your startup will hinge on your ability to operate a profitable business venture.
Diversifying Revenue in a Divorce Counseling and Mediation Startup
Successful divorce mediation and counseling businesses offer a range of services beyond simple counseling and dispute resolution. The best practices recognize the myriad issues that surround divorce and look for opportunities to deliver new service offerings to their customer base.
Divorce education seminars, co-parenting classes, counseling for the children of divorced parents, supervised visitation and other services are just some of the potential revenue targets for your startup. The caveat is that you'll need to evaluate your territory to identify underserved segments of the market.
How to Grow Your Counseling & Divorce Mediation Business
In simple terms, small business growth occurs by going either deeper or wider with your service offerings. Specialization (deeper) allows your business to dominate a specific segment of the market, capturing a much higher percentage of clients in your field. Diversification (wider) means expanding either your services or your geographic reach to deliver more services to more clients.
There is no universal formula for growing a counseling and divorce mediation business. Instead, you'll need to identify a strategy that is right for your divorce counseling and mediation practices, taking into account your available resources and market conditions as well as your personal business ownership goals.
In any case, the most important priority is to plan for business growth, not only in anticipation of short-term outcomes, but also in anticipation of your eventual exit from the practice.
Business Plans 101 for Divorce Counseling & Mediation Business Startups
As an aspiring divorce counseling and mediation business owner, you've invested time and effort in the creation of your initial business plan. Now it's time to address details about your industry.
Industry analyses are standard chapters in divorce counseling and mediation company business plans and are often required by lenders or investors. Industry analyses are critical for contextualizing your startup within an industry setting.
Although it sounds complicated, most entrepreneurs can create an effective industry analysis section by simply steering clear of common industry analysis mistakes.
Take a Look at Competitors
Prior to launching a divorce counseling and mediation business in your area, it's a good idea to find out how you will fit in the competitive landscape. Use the link below to find competitors in your area. Just enter your city, state and zip code to get a list of divorce counseling and mediation businesses in your community.
Is the local market large enough to support another divorce counseling and mediation business? If not, you had better be sure that you are doing things much better than the competition.
Talk to People Who Are Already in the Business
If you are seriously contemplating launching a divorce counseling and mediation business, you really ought to talk to somebody who is already in the business. If you think your local competitors will give you advice, you're being overoptimistic. It'd be crazy for them to teach you the business.
However, an entrepreneur who owns a divorce counseling and mediation business on the other side of the country can be a great learning resource for you, as long as they don't view you as a competitive threat. Indeed, many experienced entrepreneurs enjoy offering advice to startup entrepreneurs. In my experience, you may have to call ten business owners in order to find one who is willing to share his wisdom with you.
How do you locate an entrepreneur who is running a divorce counseling and mediation business on the other side of the country to talk to?
Here's how we would do it. Try the useful link below and key in a random city/state or zipcode.
Gaining Access to Divorce Counseling & Mediation Business Ownership
Common sense will tell you that to enter the world of divorce counseling and mediation business, you'll either need to start a new business or acquire a promising company on the business-for-sale marketplace. There are a lot of benefits of buying a divorce counseling and mediation business.
If you're on the fence consider this: There has never been a better time to acquire a divorce counseling and mediation business. The down economy has resulted in a glut of available businesses, many of which can be acquired for bargain prices.
Consider Buying a Franchise
Recognize that your chances of growing your business increase if you buy a franchise instead of doing it all on your own.
Prior to making the decision to open a divorce counseling and mediation business, you should investigate whether buying a franchise could make it easy to get started.
The link below gives you access to our franchise directory so you can see if there's a franchise opportunity for you. You might even find something that points you in a completely different direction.
These additional resources regarding getting started as an entrepreneur may be of interest to you.
If you currently own a divorce counseling and mediation business, these resources will come in handy:
If you sell to divorce counseling and mediation businesses, this isn't the right place for you. Try these resources instead:
If you are interested in starting a different kind of business, please browse our directory of guides below.