I had originally planned on having over 100K for start up, but since my daughter wasn't allowed to co-own the business, I'm starting with 50K (she was an investor). The renovations, credentialing, EMR software, computers, supplies, etc is costing roughly 30K. Then there's the advertising which is extremely expensive.
We're going to be open until 10 pm weeknights and also on Sat & Sun (7 days per week). I would NEVER be able to do this if I didn't have family members willing to work for little or no money. My daughter, who was originally going to be an owner, is going to work there for $10 per patient until I can start paying her. My total expenses per month (including $1,000 to doctor) is around $3,000.
I was very fortunate b/c some clinics donated exam tables, which are in excellent condition. I bought just about everything else from a physician who was downsizing. The only thing I haven't bought is an autoclave, which runs $1,500 for a small steam one.
We got an extra good deal with the newspaper to run a full page ad for just $1,000 the day before the grand opening (they usually cost over $4,000 for a full page ad). We're going to run some smaller ads weekly at $350 each. We're also advertising in the yellow pages (pricey) and several trade magazines around town. I'm going to close the clinic for one weekend and do free school physicals this summer. Several NP's have offered to donate their time - I'm hoping to pick up some media attention with that. We'll have fliers all over town with our cash prices. The majority of my money will go towards advertising - if they don't know you're there, they won't come.
I'm the only urgent care clinic that's open until 10 pm 7 days per week, so I should be able to attract a lot of business. My temporary signs went up a week ago and people are already calling to schedule an appt! We won't take appts though and at this time we're cash only and WAAAAAY cheaper than the other UC clinics (where I've worked for 5 years). The clinic is in a highly visible area and there aren't any physicians around (except one pediatrician). There was a practice of 3 doctors, but they moved away 5 years ago and left 27,000 pts without a doctor. I'm hoping to pick up some of that business. I also have a following, so my picture will be in my ad. Also, we're in the process of constructing a website. We're hoping to open by mid-April at the latest.
Yes, it is very expensive and I don't know how people do it if they have salaries to pay. One of my daughers has a M.S. in Computer Science and a business degree and she'll be there pretty much full time (working for $10 per pt). When she can't be there, my husband will fill in. I have another daughter who is in a BSN program and she'll fill in when she can. I'm also going to train MA's from the local career center. If I find one really good, then I'll hire them. Of course, my daughter who's in nursing school plans on going to work there for money when she gets out.
We have enough capital to keep it running for a year, so if I may a profit, I'll be ecstatic!
If you can think of some inexpensive ways to advertise, please let me know!