6 Steps How to Start an Occupational Therapy Business
Before you start your own occupational therapy business, there are many questions to ask and steps to take.
As an owner and manager of two six-figure businesses with 2 different business structures, industries, and totally different formats. A multidisciplinary therapy practice with occupational therapy, physical therapy, speech therapy, and developmental therapy, and also as a business owner within the franchise system, I know it is hard to know where to begin.
Here are 6 Steps to Start an Occupational Therapy Private Practice
1. Pick a Business Name
What type of occupational therapy business will you have? Pick a name that clearly explains who are, who you working with, and a name that can grow with your business.
2. Register your Business with Your State
Make it legal. There are several types of business structures to consider. Sole Proprietor, LLC, PLLC, S-corp, and C-corp.
Pick one that works with your business plan and your state regulations
3. Opening a Clinic or Home Based?
This choice to be either a clinic-based or home-based business is crucial and can steer a lot of future decisions.
4. Currently Working as an OT and want to Start your OT Business on the Side?
Check if you signed a non-compete clause at your current employer. Not all are valid or enforceable. But I would recommend you read it and then consult a lawyer if necessary.
5. Open a Business Bank Account
It is always best to not mix business and personal funds. So once you have an official business entity, open a bank account.
It is also recommended to get a business credit card. I prefer the business ink cards from Chase.
6. Make a Logo
Now for some fun! A logo and branding for your business are really important. Make sure you make a logo in colors that you like and represent your business vision.
I like Fiverr for hiring someone to make your logo. But you can also make it yourself with Canva.
Conclusion
This is a starting list of action items when starting a therapy business. It is in no way complete, but it will help get you started. Check out this list of great podcasts on OT businesses!
Want to Learn More about starting a Therapy Business?
Want to know if starting an occupational therapy business is right for you?
Should you explore becoming an occupational therapy entrepreneur?
Download my 5 questions to ask yourself. Is private practice right for you?
Looking for a different type of OT business to start? Check out How to Start a Mommy and me Class for developmental professionals.
