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Startup Costs of Part Time Private Practice | Start Private Practice on a Budget

Startup Costs of Part Time Private Practice | Start Private Practice on a Budget FREE Guide: Start a Private Practice in Counseling: https://tinyurl.com/y9ek9en8 So you’re thinking about starting a psychotherapy private practice, but how much does it cost to start? In this video I’ll share with you the costs of starting a part-time private practice, and share some tips to save money if you’re on a budget. Dr. Marie's first file box: https://amzn.to/2RG924n Build a Website:    • How to Build a Website for Counseling...   Find an Office:    • How to Find an Office for your Practi...   Simple Practice: https://www.simplepractice.com/ Google Voice: https://voice.google.com G Suite: https://gsuite.google.com/ Vista Print: https://www.vistaprint.com/ Psychology Today Find a Therapist: https://www.psychologytoday.com/us LINKS *Some links are affiliate links. A percentage of purchases come back to me and help my channel immensely! 👉 How to DIY a Therapist Website that Fills your Practice: https://privatepracticeskills.teachab... 👉 Private Practice Skills Merch: https://teespring.com/stores/private-... 👉 All my filming gear: https://kit.co/privatepracticeskills/... 👉 Music I use: https://www.epidemicsound.com/referra... This video is geared for therapists of all kinds, including psychologists, MFTs, LPCCs, social workers, and others in the clinical counseling field. Welcome to Private Practice Skills! I’m Dr. Marie Fang, psychologist in private practice. I post videos offering tools I learned the hard way about starting and growing private practice so that you don’t have to. Facebook: www.facebook.com/PrivatePracticeSkills/ Insta: PrivatePracticeSkills Music Credit: "Discover" by Ikson   / ikson   This video is not intended as professional or legal advice. Be sure to seek the services of a professional if you are in need of them. -Website: This doesn’t have to be pricey - you can even start a website for free, but I recommend starting with an ad-free option, which can range from about $15-$35 per month if you design your own website. You can also pay someone to make a website for you, which can get pricey depending on how fancy you’d like to be. -Office: For part-time practice, the cheapest route is to find someone within your networks who will let you pay-per-hour for their office, or subletting an office just one day per week. In my area, you can rent for around $15 per hour or around $180+ per month to rent one day a week. Keep in mind that this number varies vastly depending on where you live. You may also need to pay a security deposit as well, though not always! -Liability Insurance: If you’re purchasing liability insurance for the first time, you can usually get a good deal around $400 per year (they usually have you pay the annual cost up-front), going up from there. Personally, I’ve chosen a bit more coverage that costs me $800 per year. -City Business License: Every city has it’s own laws about business licenses. I’ve had businesses in 3 different cities and paid annual fees ranging from $90-$200, so it can range quite a bit. Be sure to check with your city for their policies and costs. -File Cabinet or Practice Management System. For all my love of technology, I’ve stayed old-school after a few scarring experiences with an online practice management system. Before going full-time, I used a portable file box that cost under $20 plus a padlock from the dollar store. I’ll link below to the file box I used. Just make sure you find a file box that has the capacity to lock. If you go the Practice Management Systems route, they typically charge a monthly rate. For example, Simple Practice costs $39 per month at their most basic plan (just think: in the 6 years I’ve been in private practice, I’ve saved almost $3000 by skipping that cost! The rest of these are totally optional costs, though they could potentially be free or things you decide not to have at all. -Phone Line: I use Google voice. Assuming you have a smart phone already, it’s totally free! I don’t recommend using your personal number for liability reasons, but I know lots of therapists who do. You can also pay for your own phone line. -Email: It is an option to use a free email account. I pay $5 a month for G Suite, which allows me to make my emails HIPAA compliant. More in a future video on how to be HIPAA compliant with email. -Business Cards: Business cards aren’t totally necessary. Especially working with younger people, most clients just take a photo of my business card on their phone and I don’t end up passing them out. -Directories. Totally optional. Psychology Today usually lets you have a free 6 month trial. Start with that and then see if it’s helping before deciding to pay. I hope you found this video helpful to give you an idea of the startup costs of part-time private practice. Until next time, from one therapist to another, I wish you well.