Business plans for psychotherapist offices do not need to dwell on descriptions of the patient-therapist relationship or what psychotherapy is. To get SBA-backed funding or receive an expanded line of credit from your bank, details about the practice itself are less vital than figures showing the growth in your client base of the prospective reach of your business going forward. Demonstrate that you have the ability to service enough patients to keep your break-even and profitability targets in line, and you should be well on your way to a funding-ready document. You will however need to provide a market analysis for your area, even if it's brief, to prove that there is not too high a level of concentration in the industry and that you have a plan for gaining market share:
• What are the leading competitors and how many patients do they probably see?
• Do you know what their strengths/weaknesses are as psychotherapists?
• What is the market need and what is the industry like locally?
• How many people live within reasonable driving distance?
• What referral sources do you have lined up?
The marketing plan for a psychotherapist business plan should reveal how you intend to connect with prospective clients going forward. What avenues will be most likely to generate new business for you? Networking, website advertisements/CPC, or print media in selected journals or newspapers? What is the relative value of each? Showing that you know how to allocate your marketing budget will give you a leg up at the bank, and will help make your financial forecasting seem more accurate. If you need research assistance with this part of the business plan or want to outsource the financial modeling headache to qualified specialists, feel free to call MasterPlans for a complimentary consultation and quote. We have made more than 10,000 customized business plans since 2002. 877-453-2011.
