Thinking about opening a group practice psychologists business? We tell you what you need to know to get started.
(article continues below)
Best Practices for Writing a Group Practice Psychologists Company Business Plan
Many new group practice psychologists business owners feel unprepared for the challenge of writing a business plan.
The good news is that business plan help may be closer than you think. These days, there are tons of great resources and solutions available to support the business plan writing process.
If you're feeling overwhelmed, take a look at Gaebler's Business Plan Help section for a list of business plan writing resources.
Take a Look at Competitors
Prior to launching a group practice psychologists business within your community, it's a good idea to find out how many competitors you have. We've provided the link below to help you find competitors in your city. Just enter your city, state and zip code to get a list of group practice psychologists businesses in your community.
If there's too much competition, it may be wise to consider starting the business in a less competitive marketplace.
Finding a Non-Competitive Business Mentor
As part of your due diligence on opening a group practice psychologists business, it's a wise move to learn as much as you can from somebody who is already in the business. It's very unlikely that the local competition will talk to you. The last thing they want to do is help you to be a better competitor.
However, an entrepreneur who owns a group practice psychologists business in another town will be much more likely to talk with you, 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. It can take a while to find an entrepreneur who is willing to talk, but it's well worth the effort.
Want the scoop on finding a group practice psychologists business entrepreneur in another city who you can speak with?
No problem! Just use the link below and try a random city/state or zipcode. Then start dialing for advice until you are successful.
Pros & Cons of Buying a Group Practice Psychologists Business
An acquisition can be a great way to enter group practice psychologists business ownership. But it's important to evaluate the benefits and drawbacks of buying a business before you decide on either an acquisition or startup approach.
PROs: Existing companies have proven business models and a history of profitability. They should also have some degree of brand recognition and an established customer base.
DRAWBACKS: On the downside, group practice psychologists business acquisitions can be difficult to adapt to your unique business philosophy so it's important to make sure the business is capable of achieving your ownership goals before you initiate the buying process.
Don't Rule Out Franchising
The odds of thriving in your new business are much greater when you choose to franchise and leverage their successful brand and track record.
If you planning on starting a group practice psychologists business, you ought to check out whether franchise opportunities in your space might help you avoid common entrepreneurial mistakes.
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 starting a business may be of interest to you.
If you currently own a group practice psychologists business, these resources will come in handy:
If you sell to group practice psychologists businesses, you're in the wrong place. Try these resources instead:
If you are interested in starting a different kind of business, please browse our directory of guides below.