Step 2: Finance for your physiotherapy practice

Working out how much money you can make

When starting a business from scratch, the key to survival is ensuring sufficient cash flow in the first 12 months. The best approach towards achieving this is a well planned and researched cash flow analysis, starting with a close examination of costs involved with the setting-up of your business.

Our Start-up Expenses Worksheet highlights some typical costs involved with starting up a physiotherapist private practice. Use this worksheet together with our detailed guide to estimate how much it will cost you to set-up your own physiotherapy practice.

Now use our 12 month cash flow projection worksheet to determine your cash position and work out if you have enough cash coming in to cover your projected set-up costs and cash outgoings. Estimating cash in and cash out can be tricky as there are so many unknowns at this stage, however, we have included a detailed guide of items to be included. This worksheet is an essential tool for forecasting and managing your working capital needs and on completion you will know how much money you need to borrow or self-fund to get your practice up and running.

Our Break-Even Analysis worksheet can be used to determine a realistic price structure for your practice. Our detailed guide includes information about how to complete the worksheet and how to interpret the inforrmation so that it is relevant to you and your practice.

Getting the money to start your business

Once you’ve worked out how your business will run and how you are going to make it a success, you need some money to get it started but how do you get finance for a business that doesn’t exist yet?

We can assist on 2 levels:

  1. we can prepare a forecast which you can use when applying for finance
  2. we can provide finance

1. Preparing a forecast

It can be difficult to come up with figures that relate to the future when you don’t have business experience to draw on. Having been involved with physiotherapy practices for so long, we have gained an insight into the financial runnings particular to a physiotherapy practice. We have used that specialist industry knowledge to develop a generic forecast which contains variables which can be modified by you to reflect your exact business idea/plan/situation.

2. Providing finance

We have finance available and offer products that have been especially designed to suit the needs of physiotherapists starting-up in private practice. Whether you are looking to finance practice equipment, office equipment, property fit-out or even the purchase of a practice premises we are able to provide the financial solution for your needs with a repayment plan that suits your budget.

For starting your own business we offer a draw down facility. This means that instead of taking out a loan and paying interest on a lump sum amount upfront, we will organise the payments of expenses incurred in the setting up of your practice as the invoices become payable. The best part is that repayments on your borrowed fund don’t start until setup is complete and your doors are open for business - so cash is coming in before you have to start paying it out and you don’t have to delve into personal savings or rely on an expensive overdraft!

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