Thinking about opening a pregnancy counseling and information services business? We tell you what you need to know to get started.
Pregnancy Counseling & Information Overview
Although it's possible to launch a for-profit pregnancy counseling & information services business, most industry providers exist as nonprofit organizations. Why? In a word: Revenue. Many pregnancy counseling organizations simply don't offer a scope of services that can be effectively monetized, forcing them to rely on donations, grants and other sources of income.
As a for-profit pregnancy counseling and information operation, you will benefit from the ability to sell your company when you exit the business -- a feature not available for nonprofit founders and leaders. But to get there, you will have to incorporate legitimate medical services like pregnancy testing, paternity testing, ultrasounds, prenatal care and more into your business model.
For additional sources of revenue, consider using your business as a platform for consulting services. For a fee, you can share your expertise with other for-profit and nonprofit pregnancy counseling services organizations. It may even be possible to create a business model that includes the sale of informational resources and training materials to other providers.
Unique Characteristics of a For-Profit Pregnancy Counseling Startup
For-profit pregnancy counseling and information startups are unique operations. Here are a just some of the special requirements you'll need to address as you prepare to launch your business.
- Revenue Models. From the outset, much of your startup energy will need to be directed toward revenue models and the monetization of services. Remember, your competition consists of any number of nonprofits that offer basic counseling on a non-fee basis. To attract paying customers, you will need to create value-added components in the form of expanded services, strategic partnerships or a higher quality customer experience.
- Medical Services. The integration of medical services into a for-profit business model is no small feat. In addition to a slate of licensing and regulatory requirements, you must be prepared to invest in medical equipment, clinical office space and qualified medical staff. To minimize the impact on your startup budget, consider hiring medical personnel on a part-time, contract basis and leasing (rather than buying) the required medical equipment.
- Patient Care. Healthcare businesses walk a fine line between profit maximization and patient care. When conflicts arise, it's important to put patient care above profit margins. By investing in the quality of care you provide your patients, your pregnancy counseling business will build a reputation in the community, driving new patients to your doorstep and ensuring the long-term success of your startup.
Business Plan Basics for Pregnancy Counseling & Information Services Businesses
Startup entrepreneurs slave over the creation of their business plans, investing countless hours in the details of their startup strategy. Now it's time to address details about your industry.
Industry analyses are standard chapters in pregnancy counseling and information services company business plans and are often required by lenders or investors. Industry analyses are critical for contextualizing your startup within an industry setting.
To succeed, you'll need to be careful to avoid common industry analysis mistakes and to accurately represent your startup in an industry context.
Well in advance of opening a pregnancy counseling and information services business within your community, it's worthwhile to determine what the competition looks like. We've provided the link below to help you generate a list of competitors in your area. Just enter your city, state and zip code to get a list of pregnancy counseling and information services businesses in your community.
Gain a knowledge of how existing firms have positioned themselves in the marketplace, and then design your business in a way that sets you apart from the others.
Getting Advice from Experienced Entrepreneurs
Once you've finished assessing the competion, it's a wise move to learn from folks who are already in business. It's very unlikely that the local competition will talk to you. Why would they want to educate a future competitor?
On the other hand, an individual who has a pregnancy counseling and information services business on the other side of the country can be a great learning resource for you, given that you don't compete with them in their area. Indeed, many experienced entrepreneurs enjoy offering advice to startup entrepreneurs. If you are persistent, you can find a business mentor who is willing to help you out.
How do you find an owner of a pregnancy counseling and information services business on the other side of the country to talk to?
Easy. Find them using our link below and start calling until you are successful.
Gaining Access to Pregnancy Counseling & Information Services Business Ownership
Common sense will tell you that to enter the world of pregnancy counseling and information services 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 pregnancy counseling and information services business.
If you're on the fence consider this: There has never been a better time to acquire a pregnancy counseling and information services business. The down economy has resulted in a glut of available businesses, many of which can be acquired for bargain prices.
Don't Rule Out Franchising
The odds of achieving your top business goals are substantially improved when you join the ranks of franchisees in lieu of doing everything yourself.
Before starting a pregnancy counseling and information services business, you may want to check out whether buying a franchise could increase your chances of success.
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 pregnancy counseling and information services business, try these useful resources:
If you sell to pregnancy counseling and information services businesses, we've got better information for you elsewhere on our site. These resources are more appropriate for you:
If you are interested in starting a different kind of business, please browse our directory of guides below.