If you had the money......

nightingale, RN · Aug 28, 2004

I can not imagine needing to borrow money to start up a Nursing Business.

Toby's mum · Aug 29, 2004

I can not imagine needing to borrow money to start up a Nursing Business.

And perhaps that's the beauty of nursing as a profession! Given a certain level of expertise, you can go out on your own and run a perfectly respectable and profitable business with nominal start-up costs.

nightingale, RN · Aug 29, 2004

Perhaps others will have additional ideas. I know a friend who has an Agency and he is always borrowing to cover payroll.

Let's see what others have to say.

WyomingRN · Aug 29, 2004

I agree with nightngale in that for a nurse to become self employed, it does not take a huge amount of $$. It does take fore thought and a willingness to take that step. I think the problem with most nurses we have talked to is that they are, like the general public, so heavily in debt, that they can't spare a dime toward a business adventure - even if they realize that they would double the monthly/yearly income. Most nurses we talk to also have more of a problem with things like how to market and what kind of business entity to set up. The biggest fear expressed is the dealing with taxes and government paperwork. Another problem that always arises is that of so called benefits. Many want to take the step, but don't want to give up the benefits - especially insurance. They do not realize that they would make more than enough to obtain the coverage they want/need with the additional $$ they would bring in. It make take a few months, but it seems that that is not a sacrifice many are willing to make.

As to nightngale observation regarding the borrowing to cover payroll, this business probably isn't doing things they way it is supposed to be done. Many contractors get into that situation - not just nurses and nurse agencies; construction contractors are notorious for doing it. Generally it is do to a money handling problem. One thing that we stress is to do things right. Avoiding problems is easier than solving them.

As to your question posed regarding funds, I would rather deal with my idea through pm's for now (between you and our dear moderator).

I don't know how many of our posts you have read in the Entrepreneur thread, so I will summarize for you. I went independent last year. Total start-up cost was less that 2000. That included everything from initial marketing to State filing fees to yellow page advertising. To date, only the first month's receivable were less than 2000. Short term, we are presently working on getting two more contracts with facilities. Long term, we already have the next two facilities we will go after defined. We had four employees at one time and are down to two at present.

In addition to the business, we spend a great deal of our time assisting others who are interested in becoming independent. We have heard from nurses from all across the country. On our web page we have a section about "Going Independent" where we have tried to put forth a great deal of information that we think would assist others. I sure wouldn't mind some input from your perspective if you wouldn't mind.

There are a lot of people and groups out there that are selling information and even charging fees to consult with them. We are of the belief that the more we [free]ly assist each other and cooperate, the easier it will be for all and the quicker change will come in the nursing field from the autonomous position.