September 21, 2019  
 
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How to Start a Psychological Information & Referral Services Business

Ready to realize your dream of starting a psychological information and referral services business? We help you avoid the problems that frequently cause problems to fledgling entrepreneurs.

Thinking about opening a psychological information and referral services business? We tell you what you need to know to get started.
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Elements of a Psychological Information & Referral Services Company Business Plan

Your psychological information and referral services company's business plan should be tailored to your business's unique traits and goals. Yet good business plans universally hit on sound business plan elements:

  • Mission Statement Your description of your psychological information and referral services business's reason for existing.
  • Goals & Objectives A list of mile markers on your psychological information and referral services business's road to success.
  • Financial, Marketing & Action Plans Specific plans that describe your business environment, demographic targets and quantitative estimates.

Check Out the Competition

Prior to opening a psychological information and referral services business in your area, it's worthwhile to determine how strong the competition is. Try our link below to get a list of local competitors in your city. After following the link, enter your city, state and zip code to get a list of psychological information and referral services businesses in your area.

How tough is the competition in the market you are considering? If the competition is too tough, you may need to think about starting the business in a different area or even start a completely different business instead.

Studying the Market

As part of your due diligence on opening a psychological information and referral services business, it's a wise move to have a conversation with someone who is in the business. If you think owners of nearby psychological information and referral services businesses will give you advice, think again. What's in it for them?

On the other hand, an individual who has a psychological information and referral services business in a location that is not competitive to you may be more than happy to give you a few tips, after they realize you reside far away from them and won't be stealing their local customers. In that case, the business owner may be more than happy to discuss the industry with you. Our estimate is that you may have to contact many business owners to find one who is willing to share his wisdom with you.

What's the process for finding somebody who runs a psychological information and referral services business in another community?

It's not that hard. Just use the handy link below and enter in a random city/state or zipcode.

Three Arguments for Buying a Psychological Information & Referral Services Business

For years, street-smart entrepreneurs have known that whenever possible, it's more advantageous to buy an existing psychological information and referral services business than it is to start one from scratch.

You'll want to conduct a comprehensive due diligence process, but here are three arguments why you should think about buying instead of a startup.

  • Initial Revenue. With a business purchase, you'll have the ability to buy a company that is already operating in the black.
  • Established Operations & Processes. When you're shopping for a psychological information and referral services business, be sure to look for ones that have all of the necessary processes and systems to ensure seamless operations from your first day of ownership.
  • Funding. Lenders, investors and other funding sources almost always prefer business purchases to startups.

Is Franchising the Right Option?

The chances of making a success of your new business are higher when you choose to franchise rather than going it alone.

Before opening a psychological information and referral services business, you ought to assess whether franchising might make your life much easier.

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.

Other Useful Articles for Startup Entrepreneurs

These additional resources regarding starting a business may be of interest to you.

Free Business Plan Templates


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Already Own a Psychological Information & Referral Services Business?

If you currently own a psychological information and referral services business, these resources will come in handy:

Marketing a Psychological Information and Referral Services Business

Selling a Psychological Information and Referral Services Business

Do You Sell to Psychological Information & Referral Services Businesses?

If you sell to psychological information and referral services businesses, you're in the wrong place. These resources are more appropriate for you:

Selling to Psychological Information and Referral Services Businesses

Mailing Lists for Psychological Information and Referral Services Businesses

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