business plan for speech therapy practice

Speech Therapist Business Plan Template

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Starting or expanding your private speech therapy practice is an exciting step towards helping more people communicate effectively. Crafted with speech therapists in mind, ClickUp's Speech Therapist Business Plan Template is the perfect tool to kickstart your journey to success!

With this template, you can:

• Define your target market and services to reach those in need effectively
• Develop strategic pricing strategies to ensure the sustainability of your practice
• Create detailed financial projections to pave the way for a thriving business

Ready to turn your passion for speech therapy into a profitable venture? Let ClickUp's template guide you every step of the way!

Speech Therapist Business Plan Template Benefits

Main elements of speech therapist business plan template.

To kickstart your speech therapist business and ensure its success, ClickUp’s Speech Therapist Business Plan template offers:

• Custom Statuses: Track progress with statuses like Complete, In Progress, Needs Revision, and To Do for each section of your business plan
• Custom Fields: Utilize custom fields like Reference, Approved, and Section to include specific details such as references, approval status, and section categorization
• Custom Views: Access different perspectives with 5 views including Topics, Status, Timeline, Business Plan, and Getting Started Guide to map out your business journey effectively
• Financial Projections: Easily create and manage financial projections, track expenses, and set revenue goals within the template for a well-rounded business plan

How To Use Speech Therapist Business Plan Template

Creating a business plan for your speech therapy practice is crucial for its success. Here are five steps to effectively use the Speech Therapist Business Plan Template:

1. Define your vision and mission

Begin by outlining the vision and mission of your speech therapy practice. What are your core values, and what sets your practice apart from others? Clearly defining your purpose will guide all future decisions and actions.

Utilize the Goals feature in ClickUp to set clear objectives for your practice and align them with your vision and mission.

2. Identify your target market

Understand who your ideal clients are and what specific speech therapy services they require. Consider demographics, location, and any special needs they may have. This information will help you tailor your services to meet the needs of your target market effectively.

Use the Table view in ClickUp to organize and categorize different client profiles based on demographics and specific needs.

3. Develop a marketing strategy

Create a detailed plan on how you will attract and retain clients for your speech therapy practice. This can include online marketing, partnerships with healthcare providers, or community outreach programs. Your marketing strategy should align with your target market and business goals.

Utilize Automations in ClickUp to streamline your marketing efforts and ensure consistency across all channels.

4. Establish your pricing structure

Determine how much you will charge for your speech therapy services based on factors such as your target market, competitors' pricing, and the value you provide. Consider offering different pricing tiers or packages to cater to a broader range of clients.

Create custom fields in ClickUp to track pricing details and compare different pricing strategies to find the most effective one for your practice.

5. Set financial goals and projections

Outline your financial goals, including revenue targets, expenses, and profit margins. Create projections for the next few years based on your pricing structure, target market, and marketing strategy. Regularly monitor your financial performance to ensure you are on track to meet your goals.

Utilize the Dashboards feature in ClickUp to visualize your financial data and track progress towards your revenue targets effectively.

Get Started with ClickUp’s Speech Therapist Business Plan Template

Speech therapists can utilize the Speech Therapist Business Plan Template in ClickUp to streamline the process of starting or expanding their private practice. This template helps in outlining the vision, defining target markets, determining services and pricing, developing marketing strategies, and creating financial projections for a successful practice.

To get started:

Add the Speech Therapist Business Plan Template to your Workspace and designate the appropriate location.

Invite relevant team members or guests to collaborate on the plan.

Utilize the following steps to maximize the template's potential:

• Use the Topics View to organize different sections of the business plan.
• The Status View helps track progress with statuses like Complete, In Progress, Needs Revision, and To Do.
• Utilize the Timeline View to set deadlines and milestones for each section.
• The Business Plan View provides an overview of the entire plan in one place.
• Refer to the Getting Started Guide View for tips and instructions on using the template effectively.
• Implement custom fields like Reference, Approved, and Section to add specific details and track progress accurately.
• Update statuses as tasks progress to keep everyone informed.
• Monitor and analyze tasks to ensure the business plan is on track for success.

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Table of contents, step-by-step guide to starting a speech therapy business.

• 15 May, 2024

Establishing a Speech Therapy Business

When embarking on the journey of starting a speech therapy business, there are several key aspects to consider. This section will focus on professional licensing requirements and growth opportunities in the industry.

Professional Licensing Requirements

Before starting a speech therapy business, it is crucial to understand the professional certification and licensing requirements specific to your country or region. For example, in Canada, aspiring entrepreneurs need to obtain certification from a regulatory authority before commencing work as a speech therapist. It is essential to determine if this occupation is regulated and contact the relevant regulatory authority to understand the certification process ( Job Bank Canada ). Consulting with professional organizations and industry associations, such as the American Speech-Language-Hearing Association (ASHA), can also provide valuable guidance on licensing requirements.

Growth Opportunities in the Industry

The demand for speech therapists is projected to grow significantly in the coming years. According to industry reports, the demand for speech therapists is expected to increase by 25% from 2019 to 2029, which is much faster than the average for all occupations. This growth indicates a promising future for speech therapy businesses, with an increasing need for their services ( Source ).

As the awareness and understanding of speech and language disorders continue to expand, more individuals are seeking professional help. This presents a wide range of growth opportunities for speech therapy businesses. Additionally, advancements in technology and telepractice have opened up avenues for reaching clients remotely, further expanding the potential reach and impact of speech therapy services.

To stay updated on industry trends and growth opportunities, it is beneficial to engage with professional networks and attend conferences or workshops related to speech therapy. Building connections within the industry can provide valuable insights and potential collaborations to help grow your business.

By understanding the professional licensing requirements and recognizing the growth opportunities in the industry, you can lay a strong foundation for your speech therapy business. The next steps involve financial considerations, developing a comprehensive business plan, addressing legal and administrative aspects, and implementing effective marketing strategies. For more information on these topics, refer to the respective sections in this guide or explore additional resources such as ASHA and speech therapy business startup guides .

Financial Considerations

Starting a speech therapy business involves careful financial planning to ensure a successful launch and sustainable operation. Understanding the startup costs and budgeting for essential expenses are crucial steps in this process.

Startup Costs Breakdown

The costs of starting a speech therapy business can vary depending on factors such as location, size, and services offered by the center. According to finmodelslab.com , the range of startup costs for a Speech-Language Pathology Center in the US is between $52,000 to $245,000.

Here is a breakdown of potential startup costs for a speech therapy business:

It’s important to note that these figures are estimates and can vary depending on factors specific to your business. For a more detailed breakdown of startup costs, it is recommended to consult with industry professionals and refer to resources such as finmodelslab.com .

Budgeting for Essential Expenses

In addition to startup costs, budgeting for essential ongoing expenses is crucial for the long-term success of your speech therapy business. Some key expenses to consider include:

Rent or Mortgage : Allocate a portion of your budget for office space rent or mortgage payments. This expense will vary depending on the location and size of your practice.

Staff Salaries : Factor in the salaries of speech-language pathologists and support staff, taking into account their qualifications and experience. It’s important to offer competitive salaries to attract and retain skilled professionals.

Supplies and Materials : Budget for therapy materials, assessment tools, office supplies, and any other necessary items for daily operations.

Insurance : Consider the costs of professional liability insurance, general liability insurance, and other coverage options to protect your business and clients. Consult with insurance providers specializing in speech therapy business insurance for appropriate coverage.

Marketing and Advertising : Allocate funds for marketing initiatives to promote your speech therapy business. This may include online advertising, creating a website, print materials, and attending networking events to build connections with potential referral sources.

Continuing Education : Set aside a budget for ongoing professional development and continuing education for yourself and your staff. This ensures that you stay up-to-date with the latest research and techniques in the field.

By carefully budgeting for these essential expenses, you can ensure the financial stability and growth of your speech therapy business. It’s important to regularly review and adjust your budget as your business evolves and new expenses arise.

Remember, starting a speech therapy business requires meticulous financial planning and attention to detail. It’s always beneficial to seek guidance from professionals and leverage resources such as ASHA for business plan examples and insights. With a well-thought-out financial plan in place, you can pave the way for a successful and thriving speech therapy practice.

Developing a Business Plan

A well-crafted business plan is essential when starting a speech therapy business. It serves as a roadmap, guiding your decisions and actions, and helps you communicate your vision to potential investors and lenders. In this section, we will explore two crucial elements of developing a business plan: crafting a comprehensive strategy and setting achievable business goals.

Crafting a Comprehensive Strategy

When developing a business plan for a speech therapy business, it’s important to understand, plan, and define the type of business you want to establish. You should articulate how your business is different from others in the industry and outline a plan that aligns with your unique vision and goals. Just as you would create a treatment plan for a client, your business plan should address the specific needs of your target market.

Consider the following components when crafting your comprehensive strategy:

Mission Statement : Clearly define the purpose and mission of your speech therapy business. This statement should reflect your values and the impact you aim to make in the field.

Services Offered : Describe the range of services you plan to provide. This may include evaluations, individual therapy sessions, group therapy, telepractice, or specialized programs tailored to specific populations.

Target Market : Identify your target market, such as children with speech delays, adults with communication disorders, or individuals seeking accent modification. Understanding your target market will help you tailor your services and marketing strategies accordingly.

Competitive Analysis : Research and analyze your competitors in the area. Identify their strengths and weaknesses, and determine how your business can differentiate itself in terms of services, expertise, or customer experience.

Marketing and Sales Strategy : Outline your marketing and sales approach to attract clients. This may include building an online presence through a website and social media, networking with local healthcare professionals, and leveraging referrals from satisfied clients.

Operational Plan : Detail how your speech therapy clinic will be set up and operated, including staffing, scheduling considerations, and any specialized equipment or technology you plan to utilize. For more information on operational planning, refer to our article on daily clinic operations .

Remember that a business plan can be a traditional detailed plan, preferred by lenders and investors, or a lean start-up plan that provides a general overview of the business. Choose the format that best suits your needs and ensure that your plan reflects your vision and goals. ASHA provides resources and business plan examples that can assist individuals looking to start a speech therapy business.

Setting Achievable Business Goals

Business goals are crucial for the success of your speech therapy business. They provide a framework for measuring progress, staying focused, and ensuring the growth and sustainability of your practice. Just as you would create and adjust treatment plans for your clients, business goals should be quantified, measured routinely, and adjusted as needed.

Consider the following when setting achievable business goals:

Specific and Measurable : Make sure your goals are specific and measurable. For example, rather than setting a vague goal like “increase revenue,” set a specific target such as “increase revenue by 15% in the next year.”

Realistic and Attainable : Set goals that are realistic and attainable based on your market research, resources, and industry benchmarks. While it’s important to aim high, setting unrealistic goals can lead to frustration and disappointment.

Time-Bound : Assign a timeline to your goals to create a sense of urgency and accountability. For example, set a goal to “acquire 10 new clients within the next three months.”

Aligned with Clinical Delivery Models : Ensure that your business goals align with your clinical delivery models and the services you provide. This will help maintain the quality and integrity of your practice.

Regularly monitor your progress towards these goals and make adjustments as needed. This will ensure that your business remains agile and responsive to market changes and client needs. Remember, just as you continuously assess and modify treatment plans for your clients, your business goals should be treated with the same level of attention and care.

By crafting a comprehensive strategy and setting achievable business goals, you lay a strong foundation for your speech therapy business. Your business plan will serve as a guide, providing direction and helping you make informed decisions as you embark on this exciting endeavor.

Legal and Administrative Aspects

Starting a speech therapy business requires careful attention to legal and administrative aspects to ensure compliance and establish a solid foundation for your practice. This section will explore two crucial components of this process: establishing a business entity and compliance with regulatory guidelines.

Establishing Business Entity

One of the first steps in starting a speech therapy business is establishing a legal business entity. Consulting with professionals such as attorneys and accountants can provide guidance tailored to your specific location and circumstances ( ASHA ). They can help determine the most suitable business structure, such as sole proprietorship, partnership, limited liability company (LLC), or corporation, taking into consideration factors like liability protection, tax implications, and administrative requirements.

Establishing a business entity typically involves registering with the appropriate state and local agencies and obtaining any necessary licenses or permits. It is also important to consult with state and local agencies to understand local zoning laws that may impact your practice ( ASHA ).

Compliance with Regulatory Guidelines

To ensure compliance with regulatory guidelines, it is essential to understand and adhere to the regulations and requirements set forth by relevant governing bodies. In the field of speech therapy, the American Speech-Language-Hearing Association (ASHA) provides valuable resources and guidelines for private practice in speech-language pathology ( ASHA ).

Documentation plays a critical role in a speech therapy business setting, serving as a communication tool between clients, families, payers, and other clinical service providers. It is important to maintain accurate and comprehensive records of assessments, treatment plans, progress reports, and billing information ( ASHA ). These records not only support the care provided but also ensure compliance with billing and reimbursement requirements.

Additionally, ethical considerations are crucial in private practice. Adhering to professional, ethical, and legal standards is essential to maintain the integrity of your speech therapy business. Staying informed about changes in regulations and guidelines is important to ensure ongoing compliance and the delivery of high-quality services to clients.

By establishing a legal business entity and ensuring compliance with regulatory guidelines, you can lay the groundwork for a successful and ethical speech therapy practice. Consulting with professionals and utilizing resources provided by organizations like ASHA can be valuable in navigating the legal and administrative aspects of starting a speech therapy business. For more details on developing a comprehensive business plan, including financial considerations and marketing strategies, refer to our article on speech therapy business startup guide .

Marketing Strategies

When starting a speech therapy business, implementing effective marketing strategies is crucial for attracting clients and establishing a strong presence in the industry. Two key marketing strategies to consider are building an online presence and networking with referral sources.

Building an Online Presence

Developing an online presence is essential for showcasing your speech therapy business and improving its visibility to potential clients. It provides a platform to share information about your services, expertise, and approach, helping to build trust and credibility. Here are some important steps to consider:

Create a Professional Website: Design a user-friendly website that showcases your expertise, services, and contact information. It should be visually appealing, easy to navigate, and optimized for search engines. Incorporate targeted keywords related to speech therapy to improve search engine rankings.

Utilize Social Media Networks: Establish a presence on social media platforms such as Facebook, LinkedIn, and Twitter. Share educational content, success stories, and updates about your practice. Engage with your audience by responding to comments and inquiries promptly.

Local Search Engine Optimization (SEO): Implement local SEO strategies to improve the visibility of your speech therapy practice in online search results. Claim and optimize your Google My Business listing, incorporate relevant keywords on your website, and encourage clients to leave reviews on Google.

Engage with Online Communities: Participate in local parent Facebook groups and online communities where potential clients may seek advice or recommendations. Provide valuable insights and information, and when appropriate, mention your speech therapy services. This can help establish yourself as a trusted resource and generate inquiries.

Networking and Referral Sources

Building relationships with healthcare professionals, schools, and other referral sources is a valuable marketing strategy that can lead to a steady stream of clients. Collaborative partnerships with professionals who understand the quality of care provided by your practice can significantly impact your business. Consider the following steps:

Attend Professional Networking Events: Attend local networking events, conferences, and workshops where you can connect with professionals working in related fields. Build relationships, exchange knowledge, and explore potential collaborations.

Reach Out to Healthcare Professionals: Contact local pediatricians, family physicians, occupational therapists, and other healthcare professionals who may encounter patients in need of speech therapy services. Provide them with information about your practice, your areas of expertise, and the benefits of referring patients to you.

Establish Relationships with Schools: Reach out to local schools, special education departments, and teachers who may require speech therapy services for their students. Offer to provide informational sessions or workshops for teachers and staff to educate them about the benefits of speech therapy.

Develop Referral Programs: Create referral programs that incentivize existing clients and referral sources to refer new clients to your practice. This could include offering discounts on services or providing incentives for successful referrals.

By implementing these marketing strategies, you can effectively promote your speech therapy business, establish a strong online presence, and build a network of referral sources. Remember to continually evaluate and adjust your marketing efforts based on the results and feedback you receive to maximize the success of your business.

Operational Planning

To successfully start and run a speech therapy business, careful operational planning is essential. This section will explore two key aspects of operational planning: daily clinic operations and staffing and scheduling considerations.

Daily Clinic Operations

The operations plan section of the speech therapy business plan should outline how the speech therapy business will operate on a daily basis. It is important to consider factors such as the number of therapists involved, the hours spent treating patients and doing non-clinical work, and other relevant operational details. This plan should provide a clear roadmap for the day-to-day functioning of the clinic.

A typical day in a speech therapy clinic may include various activities, such as:

• Conducting initial assessments and evaluations of new patients.
• Developing individualized treatment plans for each patient based on their specific needs.
• Providing one-on-one therapy sessions to patients.
• Monitoring and documenting patient progress.
• Collaborating with other healthcare professionals involved in the patient’s care.
• Administering and managing billing and insurance claims.

Efficient clinic operations require well-defined processes and systems. It is important to establish protocols for scheduling appointments, managing patient records, and ensuring compliance with speech therapy business insurance requirements. Utilizing electronic health record (EHR) systems can streamline administrative tasks and improve the overall efficiency of the clinic.

Staffing and Scheduling Considerations

Determining the appropriate staffing levels and scheduling arrangements is crucial for the success of a speech therapy business. It is important to assess the workload and patient demand to determine the number of speech-language pathologists (SLPs) needed to meet client needs.

When considering staffing, it may be beneficial to hire additional professionals, such as speech-language pathology assistants (SLPAs) or clinical fellows, to assist with therapy sessions and administrative tasks. However, it is important to ensure that these professionals work under the supervision of qualified SLPs as per regulatory guidelines, such as those provided by the American Speech-Language-Hearing Association ( ASHA ).

Scheduling considerations should take into account factors such as therapist availability, patient preferences, and clinic capacity. Efficient scheduling can help maximize the utilization of resources and ensure that patients receive the necessary therapy without excessive wait times.

To establish an effective schedule, it’s important to consider the following:

• Assessing the availability and working hours of therapists to determine clinic hours of operation.
• Allocating appropriate time slots for initial assessments, therapy sessions, and follow-up appointments.
• Allowing flexibility for urgent or emergency cases.
• Implementing a scheduling system that minimizes conflicts and optimizes therapist and patient productivity.

Establishing clear communication channels among staff members is crucial for effective scheduling and coordination. Regular team meetings and shared calendars can help ensure that everyone is aware of the schedule and any changes or updates.

By carefully considering daily clinic operations and staffing and scheduling considerations, speech therapy business owners can create a well-organized and efficient practice. It is important to consult with professionals such as attorneys, accountants, and regulatory authorities to ensure compliance with legal and administrative requirements ( ASHA ). Additionally, networking and engaging with other professionals and referral sources in the community can help in building a strong client base for the speech therapy business ( ASHA ).

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5 Steps to Success with a Strong Business Plan

1. importance of a business plan.

Starting a speech therapy practice without a business plan is like setting sail without a map. You might know where you want to go, but without proper guidance, you could easily get lost.

A business plan acts as your navigational tool, helping you chart a course for success. It outlines your goals, strategies, and tactics, providing a roadmap to guide your practice towards both your professional goals and sustainable income.

2. Key Components of a Speech Therapy Practice Business Plan

Before diving into the specifics of each section, let’s understand the core components of a speech therapy practice plan.

Executive Summary:

I would suggest you write the executive summary last. First create the plan, then summarize what you have decided while discovering how you want to build you business.

The executive summary is like the cover of a book; it gives a brief overview of what’s inside. It highlights your practice’s mission, vision, goals, and key differentiators. Think of it as your elevator pitch – a concise summary that grabs the reader’s attention and entices them to learn more.

Market Analysis:

The most important thing is to understand both what you’d like to do and to experiment. Unless you’ve done many years in the profession, it takes time to discover after graduation what truly lights your spirit…

Some people train as speech therapists and then discover that they prefer being creators. They build assets that they sell on their ‘Teachers Pay Teachers’ store, some build social media content to share latest games and activities to speech therapists and parents alike. Some really were destined to be a speech therapist with children, with adults or an expert in court.

Understand first what you want to do then doing your market research is crucial for success. Remember though, this is a journey, you can decide to try to different things before you find something that lights your spirit and is the right fit. Give yourself grace. Not every experiment will be a success. Doing research does help cut through and minimize false starts… If you want to do speech therapy with children, there are a high density of them in your area, yet non that help people recovering from strokes… Bingo! You’ve found a niche of patients that need your services.

Services and Pricing Strategy:

Once you know which services you wish to offer… There is more research to do. You need to know your worth. How much are other speech therapists in the same domain charging in the area? How many regular patients do they have a month? What do speech therapists outside your domain charge? Know your worth. You’ve studied long and hard. Expertise is hard earned.

Here is an interesting TedTalk to motivate you: Casey Brown – Know Your Worth

Consider factors such as office costs, administrative support costs, equipment costs. You need to both remain competitive for your area but also ensure that you are profitable.

Marketing and Sales Plan:

Even the best speech therapy practice will struggle to succeed without effective marketing and sales strategies. Develop a comprehensive plan to attract patients. Utilize a mix of sustainable tactics that work for you, whether through GP or word of mouth referrals, social media, paid ads and/or blogging blogging.

Financial Projections:

Forecasting your finances is essential for financial planning and decision-making. Estimate your revenue, expenses, and cash flow projections for the first few years of operation. This will help you determine how much funding you’ll need to start and sustain your practice until it becomes profitable.

Start with a simple budget to estimate rent, office supplies and furniture spend, equipment spend like computers, tablets, software or children’s games. Build into that budget a slow buildup of patients, you might not have 100% full schedule in the first few weeks so have a plan on how you manage that cashflow. If you chose to work only a few days a week, could you do an office share with another therapist or rent an office in a shared office environment? That might be a great way to manage your expenses while having your own independence.

Also, the nature of your practice will also determine what are the biggest cost drivers. Some people will do home based speech therapy services, this might mean no office costs but some transport costs and less patients during a single day. So determining how you want to practice will be important in your financial planning.

Risk Analysis and Contingency Plan:

Identify potential risks and challenges that could impact your practice’s success, such as regulatory changes, competition, or economic downturns. Develop contingency plans to mitigate these risks and ensure business continuity. Having a solid risk management strategy in place will help you navigate uncertainties with confidence.

3. Writing Your Business Plan

Now that you understand the key components let’s discuss how to write your speech therapy practice plan.

Start by drafting each section in detail, using clear and concise language. Tailor your plan to your specific practice and target market, avoiding generic or boilerplate content. Be realistic in your projections and strategies, setting achievable goals and timelines. Be very specific, for example, I will need to have 20 patients per week to generate enough income to both pay for all my expenses will earning a good living. Remember your goals must be K-I-S-S (Keep it simple stupid) .

Focus on articulating the unique value proposition of your practice – what sets you apart from other therapists and why patients, or their parents, should choose you.

Don’t forget to proofread and edit your plan for clarity, coherence, and consistency. Check for spelling and grammatical errors, and ensure that all information is accurate and up-to-date. A well-written business plan not only reflects professionalism but also instils confidence in potential lenders and business partners.

4. Revising and Updating Your Plan

A business plan is not set in stone; it’s a living document that should evolve with your practice. Regularly review and update your plan to reflect changes in your local market, industry, or your business model. Be proactive in addressing new opportunities or challenges that arise, and adjust your strategies accordingly.

Do revisit the K-I-S-S goals that you’ve set. Have you achieved them? Were they realistic? Do you want to make them more ambitious? Whatever you have achieved, set the new set of goals based on what you have learned, how you want to adjust your practice and where you want to go.

Seek feedback from trusted advisors or mentors to gain fresh perspectives on your plan. Their insights can help you identify blind spots or areas for improvement that you may have overlooked. Embrace constructive criticism and be open to making revisions as needed to strengthen your plan.

5. Seeking Professional Assistance

If you’re feeling overwhelmed or unsure where to start, don’t hesitate to seek professional assistance. Reach out to an existing speech therapist with a private practice, seek their feedback and help. Most people like to be helpful, to be a sounding board and will help you answer some questions you are struggling with.

Some speech therapists, such as Jill Shook, MS, CCC-SLP , have made a business out of helping other therapists startup their practice. She has many very valuable assets that can be useful and she offers consulting services if you need help. She also has an online course on how to setup your business: Speech Therapy Private Practice Startup Guide | Online SLP CEUs (northernspeech.com) (Offered for 0.35 ASHA CEUs – 3.5 contact hours).

Consider hiring an accountant, or attorney with experience in the healthcare or small business sector. Do get a referral, it’s always better to find an expert through someone that has had a great experience. They can provide valuable guidance and expertise to help you develop a robust business plan and navigate the complexities of starting and running a speech therapy practice.

Remember, you don’t have to go it alone. Building a successful practice takes time, effort, and support from others. By investing in a well-crafted business plan and seeking professional assistance when needed, you’ll set yourself up for long-term success in the rewarding field of speech therapy.

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Private Practice Marketing

5 Essential Steps to Starting A Private SLP Practice

Feeling overwhelmed at the thought of starting your own Speech-Language Pathology (SLP) private practice ? You’re not alone. Transitioning from working within a medical setting or as part of a larger team to becoming your own boss is a significant leap. But with the right guidance and resources, this leap can lead you to a fulfilling and successful career path. Whether you’re looking to operate full time or part time, treat clients in an office space or remotely, it’s essential to understand the foundational steps to build your practice on solid ground. Here are five critical steps to kickstart your journey toward becoming a successful private practice owner in the SLP field.

1. Develop a Solid Business Plan

The first step in your journey to start a private SLP practice is developing a robust business plan. This document should outline your business objectives, target market, service offerings (like private speech therapy), and detailed financial projections. A comprehensive business plan will not only guide your initial steps but also attract potential investors or partners. Remember, being a successful business owner in the SLP field requires both exceptional clinical skills and sharp business acumen.

2. Secure the Right Location and Tools

Deciding whether to rent office space, work from home, or offer mobile services will significantly impact your practice’s structure. Each option has its benefits and challenges, so consider what will work best for you and your clients. Besides physical space, investing in the right tools and technology is crucial. Ensure you have a reliable scheduling system, billing software, and are equipped to provide HIPAA-compliant services, whether in-person or through teletherapy.

3. Obtain Necessary Licenses and Insurance

Before you can start treating clients, you need to ensure that all your legal bases are covered. This includes obtaining the necessary state licenses to practice as an SLP and securing liability insurance to protect your practice. Additionally, if you plan to bill insurance companies for client services, you’ll need to navigate the process of becoming an in-network provider. These steps can be time-consuming, so it’s crucial to start early.

4. Market Your Practice Effectively

With the foundation of your practice in place, it’s time to attract clients. Effective marketing strategies can include creating a professional website, leveraging social media platforms, and networking with other professionals in the medical and educational fields. Don’t underestimate the power of word-of-mouth; encourage satisfied clients to refer others to your practice. Be sure to highlight your unique selling propositions, such as specialized services or flexible scheduling options.

5. Focus on Continuous Improvement and Compliance

Starting your private practice is just the beginning. To ensure long-term success, focus on continuously improving your skills and expanding your services. Stay up-to-date with the latest in SLP research and techniques, and consider offering new services as your practice grows. Additionally, maintaining compliance with all legal and professional standards, including HIPAA regulations, is non-negotiable for protecting your clients and your practice.

Starting your own private SLP practice is an exciting venture that comes with its own set of challenges and rewards. By following these five essential steps—developing a business plan, securing the right location and tools, obtaining necessary licenses and insurance, marketing your practice effectively, and focusing on continuous improvement and compliance—you’ll be well on your way to establishing a thriving private practice. Remember, the journey of a thousand miles begins with a single step. With determination, hard work, and a passion for helping others, you can achieve your dream of becoming a successful SLP business owner.

Starting a private SLP practice can feel overwhelming, but it doesn’t have to be. With the right preparation and guidance, you can build a successful practice that allows you to make a meaningful difference in your clients’ lives. So take that first step today, and embark on a rewarding journey toward starting your own private speech therapy practice.

Want to learn more about starting a private practice? Visit StartYourPrivatePractice.com to learn more about how we’ve helped thousands of SLPs get started step-by-step.

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Writing Your Business Plan

You've decided to start a private practice or other business—great! Now it's time to write the business plan. The Small Business Administration offers tips and resources for developing your business plan and suggests determining the type of format you want to use: a traditional business plan or a lean start-up plan.

Traditional business plan: This type of plan, preferred by lenders and investors, is highly detailed and comprehensive. It outlines all parts of your business, including the following:

• Executive summary: A summary of your mission statement, your product or service, and basic information about your company.
• Company description: Detailed information about the problems your business solves and an outline of the clients, organization, or businesses you plan to serve.
• Market analysis: A general overview of your industry and customer segment.
• Organization and management: An outline of how your company will be structured and the legal structure of your business.
• Service or product line: Describe what you sell or what service you offer.
• Marketing and sales plans: Describe how you'll attract and retain clients.
• Funding request: If you're asking for funding, clearly explain how much funding you’ll need and how it will be used.
• Financial projections: The anticipated revenue in the first 5 years matched to your funding requests.
• Appendix: Any supporting documents or other materials, including credit histories, resumes, product pictures, letters of reference, licenses, permits, patents, legal documents, and other contracts.

Lean start-up plan: This type of plan provides a general overview of your business, including the following:

• Key partnerships: The businesses or services you'll work with to run your business.
• Key activities: How your business will gain a competitive advantage.
• Key resources: Any resource you’ll leverage to create value for your customer.
• Value proposition: A clear and compelling statement about the value your company brings.
• Customer relationships: How customers will interact with your business.
• Customer segments: Who your business will serve.
• Channels: How you will reach your prospective and current customers.
• Cost structure: The most significant costs your business will face.
• Revenue streams: How your company will make money.

However, you don't need an MBA to create a business plan. Even if you've never written one before, you likely already have the training and skills— to develop, define, and measure your goals. In his ASHA Leader article, " You've Got Skills—to Write a Business Plan ," Gregg J. Altobella, MS, CCC-SLP, suggests looking at it like a treatment plan.

1. Understand, plan, and define.

Think about and describe what type of business you want to develop, and what business outcome you seek. Further, think about and articulate how your business differs from others. Describe your business as if it were a person, entity, or mission.

After you’ve thought about and considered what you would like to achieve with your practice—similar to when you begin treating a client—you should outline a plan that includes goals.

2. Align your services and resources.

Your services require resources—ultimately, a cost to you or your business. When you plan, develop, and advocate for clinical programs and services, try to justify these programs by thinking in terms of associated revenues and expenses. Doing so will allow you to better implement and successfully grow these programs and services because you will have specific benchmarks to hold yourself accountable.

Writing a business goal consists of identifying an objective and stating the actions needed to achieve the objective in a specific time frame. Also, in writing business goals or plans, the key elements of setting business goals should align with the key elements of clinical delivery models.

3. Quantify.

Successful businesses set goals, then measure and review those goals routinely. Just like with patient care plans, when you aren’t achieving a goal as measured, you may adjust your strategies or interventions—or, perhaps, the goal itself.

If you are looking for more information on developing a business plan, ASHA has resources and business plan examples that can help you.

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• Creating a Private Practice Business Plan

How to Create a Solid Business Plan for Your Private Therapy Practice

Making a plan for your private practice gives you the opportunity to identify important points to consider for any small business, including finances, goals, and potential barriers to success. Considering these factors now can help prevent difficulties, or even business failure, in the future. 

Finding it difficult to start writing a business plan? We can help with that. Here, we go over several essential elements to include and offer some tips to consider as you begin creating your own business plan. 

Key Elements of Your Counseling Private Practice Business Plan

While you’ll likely personalize the structure of your business plan to meet the unique needs of your private practice, all business plans should include certain essential information that outlines a path to success. 

Mission and vision 

Your mission and vision statement communicates the purpose of your private practice. Writing this statement may seem daunting, but all it needs are a few sentences answering at least some of the following questions:

• Why do you practice therapy? 
• How will your private practice assist others?
• Who do you work to help? 
• What concerns do you help them with? 
• What personal values , if any, contribute to your mission to help others? 

Like other components of a business plan, specific mission statements can vary based on your practice’s approach. Just take time to consider exactly how you want to help others and how your background, training, and specific approach can offer benefit—then set this out clearly in writing. 

Business description

The description of your private practice can be a general overview of your business. Include all relevant information about your business, such as:

• Your niche as a therapist
• Therapy approaches you use in your practice
• Areas of specialty
• The age groups or populations you generally work with
• Special skills that enhance your practice (Are you bilingual? Trained to work with special needs children? Have a therapy dog on staff?) 
• How many clients you’ll ideally see in a week
• How many current clients, if any
• How many current staff members, if any

If you intend to use your business plan for anything beyond your own reference (to seek a loan or create a proposal, for example), consider providing some background about yourself and your practice. Keep things professional, but take this opportunity to personalize your description and make yourself more relatable.

Taking time to research the therapy market in your area can help you make important decisions about your niche, office location, and methods of reaching potential clients. 

Researching nearby therapists can provide a clearer picture of a specific location’s needs. If your target area already boasts a number of therapists who practice similar approaches or treat the same issues, consider targeting a slightly different demographic or training in a new specialty. 

For example, instead of saying “I work with children of all ages,” consider “I see clients of all ages but specialize in working with teenagers who have ADHD , learning difficulties , problems in school , or behavioral issues.” Consider your skill set and think about the help you, specifically, can provide. You might worry narrowing your practice’s focus will decrease the number of potential clients, but the reverse is more likely to be true. People seeking a therapist for any of those specific concerns may find you before they find a therapist who doesn’t indicate a specialty. 

When choosing your office location, you’ll also want to make sure potential clients of your demographic can find and reach you easily. Once you’ve found an ideal location, you’ll need to consider marketing strategies, another key component of market research. How will you get word out once you’re ready for clients?

Financial plan

The financial part of a business plan should involve several components. 

First, you’ll want to calculate your operating costs, or expenses. These costs might include:

• Software or technology fees
• Staff salaries
• Office rent
• Office utilities
• Office products (tea, toilet paper, bottled water, and so on)

Once you’ve determined your monthly (or annual) operating costs, you’ll need to calculate the minimum amount of income you need to support yourself and keep your practice in business. Once you have this figure, you can use it to set your therapy fees and create a sliding scale, if you decide to use this fee structure. It may help to consider how many sliding-scale clients you can take on at a time

Deciding whether or not to accept insurance is also an important decision you’ll have to make before beginning to see clients. Some practitioners prefer to avoid working with insurance companies, so it’s important to research the necessary steps and decide whether accepting insurance will meet the needs of your practice. 

If you have independent funding to start, make a note of this. If you’ll need some income to get it started, also note your strategy for obtaining these funds. 

You’ll find it next to impossible to reach many new clients without investing time and effort into both developing your reputation as a mental health professional and putting yourself in front of potential clients. Including ideas for marketing strategies in your business plan can provide focus. Consider these possibilities:  

• Commit to spending a certain number of hours each week on marketing strategies. Use those hours to network and meet with potential referral sources, plan new marketing strategies, or make yourself available in your community. 
• Build a website (or hire a professional to create one for you). Developing social media pages for your private practice on platforms such as Facebook and Twitter can also help you reach more people. Social media pages can also make it easier for potential clients to contact you, since they can send messages directly from your practice page. 
• Create quality content by blogging about topics related to your practice, including your approach to therapy, self-care and self-help approaches, or strategies for improved wellness. This can help boost your website’s ranking in Google and other search engines. Higher-ranked websites appear sooner in search results, so this can put you in front of more people looking for help. 
• Join a therapist directory. On GoodTherapy’s directory, your profile has space for you to describe your approach to treatment, the types of therapy you practice, and the kinds of clients you’d ideally work with. GoodTherapy members can also write and publish original content related to therapy and mental health issues. Links to your published articles will appear on your profile, as well, encouraging interested clients to learn more about your approach. 

The final (and perhaps most significant) component of your business plan? Your goals for the future. These goals should include a time component, and they should be focused and specific. 

Your primary goal, when starting your therapy practice, is probably to help people. But consider more detailed goals. Exactly how do you want to help? If you want to help young children overcome trauma , your goal may be pursuing continuing education in trauma-focused therapy approaches during the first 6 months of practice. If you want to counsel pregnant teenagers, it might help to have a goal of learning more about the various school, family, or health-related challenges teen parents face. 

Other goals including planning for the growth of your practice. Again, it helps to note specific, achievable milestones along with responses to reaching these milestones. For example, you might mention, “In 2 years, I hope to be seeing 20 clients each week. When I have more than 20 clients for a period of 2 months, I’ll look to add another professional to my practice.”

Certain details may change over time as your business grows and you adapt your practice to meet new needs. You might add more staff, gain new specialties, or become certified in additional therapy approaches. As your circumstances change, so might the needs or goals of your practice. It’s a good idea to revisit your business plan once or twice a year, just to update any information and address any parts that have become less relevant.

References:

• Bavonese, J. (n.d.). A business plan for growing your therapy practice. Psychotherapy Networker . Retrieved from https://www.psychotherapynetworker.org/blog/details/509/a-business-plan-for-growing-your-therapy-practice
• How to create a business plan for your perfect private practice. (2016, October 24). Retrieved from https://www.aperfectpractice.com/blog/2017/1/18/how-to-create-a-business-plan-for-private-practice

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Opening a Private Practice

The lure of private practice tempts many clinicians. The opportunity to specialize, the freedom to pursue your ideal work-life balance, and the liberation from sometimes unfortunate management practices are just a few reasons why private practice is appealing. So, what does it take to set up your practice?

Have a Plan

Anyone starting a business should begin the process by completing a business plan. This is important as it will help identify what the opportunities and challenges will be so that you can plan your business accordingly. The Small Business Administration is an excellent starting point for determining beginning this process.

Professional Requirements

As long as you have your ASHA certification and/or state registration or licensure (if required by your state), you may open a private speech-language pathology practice. Different eligibility requirements exist from state to state, so be sure to comply with your state’s licensing and regulation (registration, certification) requirements. Don’t risk being charged with practicing without a license or providing services outside the scope of practice stipulated in your state’s licensure law. Since you are opening a business, you may need a business or occupational license so check with your local government to ensure your business is in compliance with local laws. You can obtain a copy of the state licensure law from your State Licensure Board. ASHA's website provides state licensing information as well. Contact your state health department to determine if there are other requirements with which you must comply as a health care provider, such as the length of time you must retain medical records, privacy/confidentiality laws, etc.

State/Local Requirements

If you plan to work from home, you may need to ensure that your local zoning laws permit you to conduct business from your home or to display ads on your property. Ensure that your clients’ vehicles will not violate local parking bylaws. Check with your local zoning board. If you intend to lease commercial space, then your landlord will be able to provide some information on these matters.

Home Insurance Needs

Your home insurance company will also want to be aware if you are using your home for business purposes because your insurance coverage and premiums may need to be adjusted.

Liability Insurance

To ensure that you spend all your time running your business and none of it fending off legal actions, it is important that you become very familiar with ASHA’s scope of practice for SLPs, position statements, Code of Ethics, and Preferred Practice Patterns. Since you need to hire an attorney to help you set up the legal structure of your business anyway (sole proprietorship, partnership, corporation, or limited liability company), you should review the sort of legal actions that could be brought against you, and seek guidance for ways to prevent such unpleasant claims from arising. You will need liability insurance for your business regardless of the legal structure of the company. Become aware of the various forms of liability: intentional harm, negligent harm, strict liability, vicarious liability (e.g., an employee does something that in some way injures one of your customers), and of course, criminal liability. In addition, failure to follow your state's regulations regarding the practice of speech-language pathology in your state can result in legal action against you.

Resources Available for Your Successful Start-up

There are a wide variety of services and organizations available to help you get your business off the ground. The local Chamber of Commerce, the Small Business Administration, local and state business development services, ASHA, and various online and in-person networking opportunities are rich resources. Make full use of these resources. Get an accountant who can advise you on business set-up as it relates to taxation, accounts receivable, billing, and withholding tax. Your attorney can prepare any documents you may need for your business start-up as well as other on-going legal needs. Take advantage of the wide array of business support services and networking opportunities that are out there and watch your business grow.

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Speech Pathology Private Practice Business Plan [Sample Template]

By: Author Tony Martins Ajaero

Home » Business ideas » Healthcare and Medical » Hospital and Clinic

Are you about starting a speech pathology practice? If YES, here’s a complete sample speech pathology private practice business plan template & feasibility report you can use for FREE to raise money .

Okay, so we have considered all the requirements for starting a speech pathology private practice. We also took it further by analyzing and drafting a sample speech pathology practice marketing plan template backed up by actionable guerrilla marketing ideas for speech pathology practices. So let’s proceed to the business planning section.

Are you a Speech-Language Pathologist? Do you know that you can make money from a thriving industry by going into private practice ? Yes, indeed, the Speech-Language Pathology industry is one large and profitable industry in the united states that is open for aspiring entrepreneurs who are qualified and competent.

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Reliable statistics has it that the Speech-Language Pathology industry in the United States generates roughly $4 billion annually. If you are qualified and well positioned, you can get your own fair share of the available market in the industry and smile to the bank on a regular basis.

If you want to partake in this thriving industry, you would need to obtain all the necessary licenses and certifications. The truth is that the market is still pretty much open for new practitioners to come in. Although there are competitions at various levels in the industry, but if you are able to come up with a good business strategy, then you are sure of getting your own fair share of the available market in the industry.

So, if you have decided to start a speech pathology practice in the United States, then you should make sure that you carry out thorough feasibility studies and market survey. Business plan is yet another very important business document that you should not take for granted when launching your own business.

Below is a sample speech pathology private practice business plan template that will help you successfully write yours without much stress.

A Sample Speech Pathology Private Practice Business Plan Template

1. industry overview.

Professionals who are into speech pathology practice are grouped under the Speech-Language Pathologists industry and this industry is made up of health practitioners that primarily evaluate, diagnose and treat speech, language, cognitive-communication and swallowing disorders.

A close study of the industry shows that the industry has experienced steady conditions and stable growth over the past five years to 2017.

In recent years, rising student enrollment rates have stimulated demand for the industry’s services. Most importantly, increased access to health insurance has better enabled individuals to afford industry services, as many speech-language pathology services are covered by health insurance.

As a result, more individuals have obtained private health insurance coverage, better enabling them to access industry services. Moreover, the PPACA has increased the number of individuals with government health insurance by expanding access to Medicaid. These trends are expected to continue over the next five years to 2022.

A recent report published by IBISWORLD shows that the Speech-Language Pathologists industry largely follows the dispersion of the US population. Typically, speech-language pathologists locate near hospitals, schools and healthcare facilities.

The report further states that, the industry’s personnel-to-population ratio varies considerably, with some areas having more speech-language pathologists on a per capita basis.

According to data from the American Speech-Language-Hearing Association, the United States had an average 46.6 speech-language pathologists per 100,000 residents in 2014 (latest data available). Some regions, namely the Northeast, have a higher prevalence of speech-language pathologists per capita, with 59.7 per 100,000 residents. The Midwest and South have 48.5 and 45.5 pathologists per capita, respectively.

The Speech-Language Pathologists industry is a thriving sector of the economy of the United States of America and they generate over $4 billion annually from more than 7,029 registered and licensed Speech-Language Pathologists scattered all around the United States of America.

The industry is responsible for the employment of over 33,487 people. Experts project the industry to grow at a 3.8 percent annual rate within 2013 and 2018. It is important to state that there is no single organization that has a lion share of the available market in this industry.

It is absolutely compulsory for any investor who is looking towards starting any health related business in the United States of America to meet extensive federal, state and local laws and regulations. These regulations relate to the adequacy of medical care, equipment, personnel, operating policies and procedures.

Regulations also involve maintaining adequate records, preventing fires, setting rates and complying with building codes and environmental protection laws. These regulations make it difficult and costly for aspiring entrepreneurs to enter the industry.

Some of the factors that encourage entrepreneurs to start their own speech pathology private practice business is that the business requires low level manpower and the business can easily get support from government at all levels.

As a speech pathology private practitioner, the key attributes needed to make good success from the trade is patience, enthusiasm, passion about the job, and constant positivism. You would need to be good at planning, preparation, and have other organizational skills.

2. Executive Summary

Paulson Parker® Speech Pathology Practitioners, LLP is a licensed Speech Pathologist firm that is specialized in helping her clients overcome their speech related challenges.

The scope of our business covers areas such as hearing loss, auditory processing disorder, autism spectrum disorder, pragmatics and social communication language disorders, semantics, morphology and syntax language disorders et al. Our business will be located in a well – populated residential estate in New Orleans.

Paulson Parker® Speech Pathology Practitioners is a client-focused private speech pathologist that provides broad – based speech therapy at an affordable fee that won’t in any way put a hole in the pocket of our clients. We will ensure that we meet and surpass all our clients’ expectations as it relates to their speech and communication goals whenever they hire our services.

Our clients’ overall best interest would always come first, and everything we do will be guided by our values and professional ethics. We will ensure that we hire professional and certified speech pathologists and related health workers with various skills who are passionate in helping our clients overcome their speech impediments.

Paulson Parker® Speech Pathology Practitioners will at all times demonstrate her commitment to sustainability by actively participating in our communities and integrating sustainable business practices wherever possible. We will ensure that we hold ourselves accountable to the highest standards by meeting our clients’ needs precisely and completely.

Our overall business goal is to position our private speech pathology practice to become the leading practice in the industry, and also to be amongst the top 10 speech pathology private practice business in the United States of America within the first 5 years of operation.

This might look too tall a dream but we are optimistic that this will surely come to pass because we have done our research and feasibility studies.

Paulson Parker® Speech Pathology Practitioners, LLP is founded by Dr. Paulson Parker and he will run the business with his business partner, Dr. Lance Jackson. Dr. Paul Parker is a certified and renowned Speech-Language Pathologist. He has over 20 years’ experience in the industry.

3. Our Products and Services

Paulson Parker® Speech Pathology Practitioners is going to offer varieties of speech-language services within the scope of the industry.

Our intention of starting our business is to help our clients overcome their speech impediments and improve their communication competence, and we will do all that is permitted by the law in the US to achieve our aim and business goal. Our service offerings are listed below;

• Monitor patients’ progress and adjust treatments
• Develop treatment plans for problems such as hearing loss and auditory processing disorder
• Evaluate hearing or speech and language test results
• Develop individual or group programs in schools to deal with speech and language problems
• Instruct clients in techniques for more effective communication
• Handle areas such as hearing loss, auditory processing disorder, autism spectrum disorder, pragmatics and social communication language disorders, Semantics, morphology and syntax language disorders et al.

4. Our Mission and Vision Statement

• Our vision is to build a highly competitive and effective speech pathology private practice business that will become the number one choice in New Orleans – Louisiana and the whole of the United States of America.
• Our mission is to provide affordable, professional and highly effective speech pathology services to a wide range of clients. We want to position Paulson Parker® Speech Pathology Practitioners, LLP to become one of the leading brands in the industry in the whole of New Orleans – Louisiana, and also to be amongst the top 10 speech pathology private practice firms in the United States of America within the first 5 years of operation.

Our Business Structure

Paulson Parker® Speech Pathology Practitioners, LLP, is a speech pathology firm that intends starting small in New Orleans – Louisiana, but hopes to grow big in order to compete favorably with leading firms in the industry. We are aware of the importance of building a solid business structure that can support the picture of the kind of business we want to own.

This is why we are committed to only hire the best hands within our area of operation. We will ensure that we hire people that are qualified, hardworking, creative, passionate, result driven, customer centric and are ready to work to help us build a prosperous business that will benefit all the stakeholders.

As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of five years or more as agreed by the board of trustees of the company. In view of the above, we have decided to hire qualified and competent hands to occupy the following positions;

• Principal Partner/Chief Executive Officer

Speech-Language Pathologists

Office Administrator

• Marketing Executives

Client Service Executive

5. Job Roles and Responsibilities

Principal Partner / Chief Executive Officer:

• Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results and developing incentives
• Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
• Responsible for fixing prices and signing business deals
• Responsible for providing direction for the business
• Responsible for signing checks and documents on behalf of the company
• Evaluates the success of the organization
• In charge of areas such as hearing loss, auditory processing disorder, autism spectrum disorder, pragmatics and social communication language disorders, Semantics, morphology and syntax language disorders et al
• Monitors patients’ progress and adjust treatments
• Develops treatment plans
• Evaluates hearing or speech and language test results
• Develops individual or group programs in schools to deal with speech and language problems
• Handles any other duty as assigned by the Principal Partner
• Responsible for overseeing the smooth running of HR and administrative tasks for Paulson Parker® Speech Pathology Practitioners, LLP
• Designs job descriptions with KPI to drive performance management for Speech-Language Pathologists
• Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
• Defines job positions for recruitment and managing interviewing process
• Carries out induction for new team members
• Responsible for training, evaluation and assessment of employees
• Responsible for arranging travel, meetings and appointments
• Oversees the smooth running of the daily activities of Paulson Parker® Speech Pathology Practitioners, LLP.

Marketing Executive

• Identifies, prioritizes, and reaches out to new students, and business opportunities et al
• Identifies development opportunities; follows up on development leads and contacts
• Writes winning proposal documents, negotiate fees and rates in line with organizations’ policy
• Develops, executes and evaluates new plans for expanding sales
• Documents all customer contact and information
• Represents Paulson Parker® Speech Pathology Practitioners, LLP in strategic meetings
• Helps to increase sales and growth for Paulson Parker® Speech Pathology Practitioners, LLP
• Responsible for preparing financial reports, budgets, and financial statements for the organization
• Provides managements with financial analyses, development budgets, and accounting reports
• Responsible for financial forecasting and risks analysis.
• Performs cash management, general ledger accounting, and financial reporting for one or more properties.
• Responsible for developing and managing financial systems and policies
• Responsible for administering payrolls
• Ensures compliance with taxation legislation
• Handles all financial transactions for Paulson Parker® Speech Pathology Practitioners, LLP
• Serves as internal auditor for Paulson Parker® Speech Pathology Practitioners, LLP.
• Welcomes clients and visitors by greeting them in person or on the telephone; answering or directing inquiries.
• Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
• Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
• Manages administrative duties assigned by the principal partners in an effective and timely manner
• Consistently stays abreast of any new information on the organizations’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients when they make enquiries
• Receives parcels/documents for Paulson Parker® Speech Pathology Practitioners, LLP

6. SWOT Analysis

Paulson Parker® Speech Pathology Practitioners, LLP engaged the services of a business consultant to assist our organization in building a well – structured speech pathology business that can favorably compete in the highly competitive industry in the United States.

Part of what the business consultant did was to work with the management of our organization in conducting a SWOT analysis for Paulson Parker® Speech Pathology Practitioners, LLP. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Paulson Parker® Speech Pathology Practitioners, LLP.

Our core strength lies in the power of our team; our workforce. We have a team with excellent qualification and experience in speech pathology private practice. Aside from the synergy that exists in our carefully selected team members, Paulson Parker® Speech Pathology Practitioners, LLP is well positioned in a community with the right demography and we know we will attract loads of clients from the first day we open our doors for business.

As a new speech pathology private practice in New Orleans – Louisiana, it might take some time for our organization to break into the market and gain acceptance in the already saturated Speech-Language Pathologists industry; that is perhaps our major weakness.

• Opportunities:

Opportunities abound in this line of business because of subsidized state and federal healthcare exchanges. Healthcare reforms have also increased the number of Americans who rely on government insurance and also the demand from educational services will increase alongside school enrollment. As a standard speech pathology private practice organization, we are ready to take advantage of any opportunity that comes our way.

Some of the threats that we are likely going to face as a speech pathology private practice operating in the United States of America are unfavorable government policies that might affect businesses such as ours, the arrival of a competitor within our location of operation and global economic downturn which usually affects spending/purchasing power.

There is hardly anything we can do as regards these threats other than to be optimistic that things will continue to work for our good.

7. MARKET ANALYSIS

• Market Trends

The trend in the industry shows that in the last half a decade, the industry has grown consistently. Speech pathology services are needed regardless of economic conditions, which insulate the industry from economic fluctuations. Going forward, as people continue to gain a steady income, private health insurance will become more affordable, prompting consumers to seek speech pathology services when needed.

Rising student enrollment rates will boost demand for industry services. So also, external factors such as Number of K-12 students and Number of adults aged 65 and older in the Speech-Language industry impacts industry performance.

The trend in the industry is such that if you want to be ahead of your competitors, you should be able to acquire as much certifications as possible and you should be able to have loads of testimonies from your clients. The truth is that if your clients experienced huge difference in their life as a result of hiring your services, then they will be compelled to help promote your organization.

Another notable trend in this industry is the influence of technology; the advent of technology is responsible for the increase in income generated in the industry all over the world. With technology, it is now easier for speech language pathologist to work with their clients that are thousands of kilometers away from them. Tools like video calling, YouTube, live chat and Webcast et al are being used by to work with clients in different parts of the world.

8. Our Target Market

Our target market as a speech pathology private practice firm cuts across people of different classes and people from all walks of life. We are coming into the industry with a business concept that will enable us work with the clients from different backgrounds. Below is a list of the clients that we have specifically designed our speech pathology private services for;

• People with autism
• Stroke patients
• Hospitals and other medical clinics

Our competitive advantage

The Speech-Language Pathology industry is indeed a very prolific and highly competitive industry. Clients will only hire your services if they know that you can help them overcome their speech impediments and related challenges. It is the practice for speech – language pathologists to acquire as much certifications as it relates to their area of specialization; it is part of what will make them stay competitive in the industry

We are quite aware that to be highly competitive in the industry means that you should be able to deliver consistent quality service, your clients should be able to experience remarkable difference and improvement and you should be able to meet the expectations of your clients at all times.

Paulson Parker® Speech Pathology Practitioners might be a new firm, but the owners of the business are considered gurus in the industry. They are licensed and highly qualified speech – language pathologists that can help her clients overcome their challenges and achieve their personal goal within a short period of time. These are part of what will count as a competitive advantage for us.

Aside from our robust experience of our Speech-Language Pathologists, we can boast of having a good reputation. We have a very strong online presence that will enable us work with clients in different parts of the world.

Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category in the industry. It will enable them to be more than willing to build the business with us and help deliver our set goals and achieve all our objectives.

9. SALES AND MARKETING STRATEGY

• Sources of Income

Paulson Parker® Speech Pathology Practitioners, LLP is established with the aim of maximizing profits in the Speech-Language Pathologists industry and we are going to go all the way to ensure that we do all it takes to attract clients on a regular basis.

Paulson Parker® Speech Pathology Practitioners, LLP will generate income by offering the following speech pathology private practice services;

• Handle areas such as hearing loss, auditory processing disorder, autism spectrum disorder, pragmatics and social communication language disorders, Semantics, morphology and syntax language disorders et al

10. Sales Forecast

We are well positioned to take on the available market in New Orleans – Louisiana and we are quite optimistic that we will meet our set target of generating enough profits from our first six months of operation and grow the business and our clientele base.

We have been able to examine the speech pathology private practice market, we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. Below are the sales projections for Paulson Parker® Speech Pathology Practitioners, LLP. It is based on the location of our speech pathology firm and of course the wide range of trainings that we will be offering;

• First Fiscal Year: $150,000
• Second Fiscal Year: $350,000
• Third Fiscal Year: $750,000

N.B : This projection was done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor offering same services as we do within same location.

• Marketing Strategy and Sales Strategy

Our sales and marketing team will be recruited based on their vast experience in the industry and they will be trained on a regular basis so as to be well equipped to meet their targets and the overall goal of Paulson Parker® Speech Pathology Practitioners, LLP. We will also ensure that our clients’ overcome their challenges in record time.

Our goal is to grow Paulson Parker® Speech Pathology Practitioners, LLP to become one of the top 10 speech pathology firms in the United States of America which is why we have mapped out strategies that will help us take advantage of the available market and grow to become a major force to reckon with not only in New Orleans – Louisiana but also in other cities in the United States of America.

Paulson Parker® Speech Pathology Practitioners, LLP is set to make use of the following marketing and sales strategies to attract clients;

• Introduce our speech pathology private practice firm by sending introductory letters alongside our brochure to schools, hospitals, households and key stake holders in New Orleans – Louisiana.
• Print out fliers and business cards and strategically drop them in offices, libraries, public facilities and train stations et al.
• Use friends and family to spread word about our speech pathology private practice firm
• Post information about our speech pathology private practice firm on bulletin boards in places like schools, libraries, and local coffee shops.
• Place a small or classified advertisement in the newspaper, or local publication about our firm
• Advertise our speech pathology private practice firm in relevant educational magazines, newspapers, TV and radio stations
• Attend relevant educational expos, seminars, and business fairs et al
• Engage direct marketing approach.

11. Publicity and Advertising Strategy

We have been able to work with our brand and publicity consultants to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market. We are set to become the number one choice in the whole of New Orleans – Louisiana which is why we have made provisions for effective publicity and advertisement of our business.

Below are the platforms we intend to leverage on to promote and advertise Paulson Parker® Speech Pathology Practitioners, LLP;

• Place adverts on both print (community based newspapers and magazines) and electronic media platforms
• Sponsor relevant community based events
• Leverage on the internet and social media platforms like; Instagram, Facebook, Twitter, YouTube, Google + et al to promote our brand
• Install our billboards in strategic locations all around New Orleans – Louisiana.
• Engage in roadshows from time to time in targeted neighborhoods
• Distribute our fliers and handbills in target areas
• Contact corporate organizations by calling them up and informing them of Paulson Parker® Speech Pathology Practitioners, LLP and the services we offer
• List our speech pathology private practice firm in local directories / yellow pages
• Advertise our life speech pathology private practice firm in our official website and employ strategies that will help us pull traffic to the site.
• Ensure that all our staff members wear our branded shirts and all our vehicles are well branded with our logo.

12. Our Pricing Strategy

Generally, speech pathology private practice services are billed on per hour billing rate and flat fees on a weekly or monthly basis as it applies. As a result of this, Paulson Parker® Speech Pathology Practitioners, LLP will charge our clients flat fees except for few occasions where there will be need for us to charge special clients on hourly basis.

At Paulson Parker® Speech Pathology Practitioners, LLP we will keep our fees below the average market rate by keeping our overhead low and by collecting payment in advance. In addition, we will also offer special discounted rates to all our clients at regular intervals.

• Payment Options

The payment policy adopted by Paulson Parker® Speech Pathology Practitioners, LLP is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.

Here are the payment options that Paulson Parker® Speech Pathology Practitioners, LLP will make available to her clients;

• Payment with cash
• Payment via online bank transfer
• Payment via mobile money
• Payment via Point of Sales Machines (POS Machines)
• Payment via check

In view of the above, we have chosen banking platforms that will enable our client make payment for speech pathology private practice services without any stress on their part. Our bank account numbers will be made available on our website and promotional materials.

13. Startup Expenditure (Budget)

This is what it would cost us to start our own standard speech pathology private practice firm in the United States of America;

• Business incorporating fees in the United States of America will cost – $750.
• The budget for liability insurance, permits and license will cost – $3,500
• Acquiring an office space that will accommodate the number of employees we intend employing for at least 6 months (Re – Construction of the facility inclusive) will cost – $35,000.
• Equipping the office (computers, printers, projectors, markers, pens and pencils, furniture, telephones, filing cabinets, and electronics) will cost – $10,000
• The cost for accounting software, CRM software and Payroll Software – $3,000
• Other start-up expenses including stationery – $1000
• Phone and Utilities (gas, sewer, water and electric) deposits – ( $3,500 ).
• Launching an official website will cost – $500
• Amount need to pay bills and staff members for at least 2 to 3 months – $70,000
• Additional Expenditure such as Business cards, Signage, Adverts and Promotions will cost – $5,000
• Miscellaneous – $5,000

Going by the report from the market research and feasibility studies conducted, we will need about one hundred and fifty thousand ( 150,000 ) U.S. dollars to successfully set up a medium scale but standard speech pathology private practice firm in the United States of America.

Generating Startup Capital for Paulson Parker® Speech Pathology Practitioners, LLP

Paulson Parker® Speech Pathology Practitioners, LLP is a partnership business that will be owned by Dr. Paulson Parker and he will run the business with his business partner, Dr. Lance Jackson. They decided to restrict the sourcing of the startup capital for the business to just three major sources.

These are the areas we intend generating our startup capital;

• Generate part of the startup capital from personal savings and sale of his stocks
• Generate part of the startup capital from friends and other extended family members
• Generate a larger chunk of the startup capital from the bank.

N.B: We have been able to generate about $50,000 ( Personal savings $35,000 and soft loan from family members $15,000 ) and we are at the final stages of obtaining a loan facility of $100,000 from our bank. All the papers and documents have been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.

14. Sustainability and Expansion Strategy

The future of a business lies in the number of loyal customers that they have, the capacity and competence of their employees, their investment strategy and business structure. If all of these factors are missing from a business, then it won’t be too long before the business closes shop.

One of our major goals of starting Paulson Parker® Speech Pathology Practitioners, LLP is to build a business that will survive off its own cash flow without injecting finance from external sources once the business is officially running.

We know that one of the ways of gaining approval and winning customers over is to offer our speech pathology private practice services a little bit cheaper than what is obtainable in the market and we are prepared to survive on lower profit margin for a while.

Paulson Parker® Speech Pathology Practitioners, LLP will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and retraining of our workforce is at the top burner of our business strategy.

We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List/Milestone

• Business Name Availability Check: Completed
• Business Incorporation: Completed
• Opening of Corporate Bank Accounts: Completed
• Opening Online Payment Platforms: Completed
• Application and Obtaining Tax Payer’s ID: In Progress
• Application for business license and permit: Completed
• Purchase of Insurance for the Business: Completed
• Leasing a standard office facility in a good location plus reconstruction: In progress
• Conducting Feasibility Studies: Completed
• Generating part of the startup capital from the founders: Completed
• Writing of Business Plan: Completed
• Drafting of Employee’s Handbook: Completed
• Drafting of Contract Documents: In Progress
• Design of Logo: Completed
• Printing of Promotional Materials: Completed
• Recruitment of employees: In Progress
• Purchase of the needed furniture, office equipment, electronic appliances and facility facelift: In progress
• Creating Official Website for the business: In Progress
• Creating awareness for the business in New Orleans – Louisiana: In Progress
• Health and Safety and Fire Safety Arrangement: In Progress

• Website Design & Development Services
• Startup Branding
• Paid Marketing
• Organic Marketing
• Market Research
• Business Plans
• Pitch Decks
• Financial Forecast
• Industry Market Research Reports
• Social Media & Website Guides
• Case Studies
• Services Marketing Website Design & Development Services Startup Branding Paid Marketing Organic Marketing Consulting Market Research Business Plans Pitch Decks Financial Forecast
• About Resources Articles Templates Industry Market Research Reports Social Media & Website Guides Case Studies Team

Speech Therapy Practice Business Plan Template

Explore Options to Get a Business Plan.

Are you interested in starting your own speech therapy practice  Business?

Introduction

Global market size, target market, business model, competitive landscape, legal and regulatory requirements, financing options, marketing and sales strategies, operations and logistics, human resources & management, why write a business plan.

• Business Plans can help to articulate and flesh out the business’s goals and objectives. This can be beneficial not only for the business owner, but also for potential investors or partners
• Business Plans can serve as a roadmap for the business, helping to keep it on track and on target. This is especially important for businesses that are growing and evolving, as it can be easy to get sidetracked without a clear plan in place.
• Business plans can be a valuable tool for communicating the business’s vision to employees, customers, and other key stakeholders.
• Business plans are one of the most affordable and straightforward ways of ensuring your business is successful.
• Business plans allow you to understand your competition better to critically analyze your unique business proposition and differentiate yourself from the market.
• Business Plans allow you to better understand your customer. Conducting a customer analysis is essential to create better products and services and market more effectively.
• Business Plans allow you to determine the financial needs of the business leading to a better understanding of how much capital is needed to start the business and how much fundraising is needed.
• Business Plans allow you to put your business model in words and analyze it further to improve revenues or fill the holes in your strategy.
• Business plans allow you to attract investors and partners into the business as they can read an explanation about the business.
• Business plans allow you to position your brand by understanding your company’s role in the marketplace.
• Business Plans allow you to uncover new opportunities by undergoing the process of brainstorming while drafting your business plan which allows you to see your business in a new light. This allows you to come up with new ideas for products/services, business and marketing strategies.
• Business Plans allow you to access the growth and success of your business by comparing actual operational results versus the forecasts and assumptions in your business plan. This allows you to update your business plan to a business growth plan and ensure the long-term success and survival of your business.

Business Plan Content

• Executive Summary
• Company Overview
• Industry Analysis
• Consumer Analysis
• Competitor Analysis & Advantages
• Marketing Strategies & Plan
• Plan of Action
• Management Team

The financial forecast template is an extensive Microsoft Excel sheet with Sheets on Required Start-up Capital, Salary & Wage Plans, 5-year Income Statement, 5-year Cash-Flow Statement, 5-Year Balance Sheet, 5-Year Financial Highlights and other accounting statements that would cost in excess of £1000 if obtained by an accountant.

The financial forecast has been excluded from the business plan template. If you’d like to receive the financial forecast template for your start-up, please contact us at [email protected] . Our consultants will be happy to discuss your business plan and provide you with the financial forecast template to accompany your business plan.

Instructions for the Business Plan Template

To complete your perfect speech therapy practice business plan, fill out the form below and download our speech therapy practice business plan template. The template is a word document that can be edited to include information about your speech therapy practice business. The document contains instructions to complete the business plan and will go over all sections of the plan. Instructions are given in the document in red font and some tips are also included in blue font. The free template includes all sections excluding the financial forecast. If you need any additional help with drafting your business plan from our business plan template, please set up a complimentary 30-minute consultation with one of our consultants.

Ongoing Business Planning

Want a bespoke business plan for your speech therapy practice business, our expertise.

Speech is Beautiful

5 Sources of Funding to Start Your Speech Private Practice

Do you ever dream of starting your own speech therapy practice or speech clinic? Would you like to have a side business or part-time private practice? Do you think that it requires a large amount of capital that you may not have? There are sources of funding available for people looking to start their own gig. But what would you need money for? Depending on what you might require to get going, you may need cash for:

5 Costs to Plan for in Your SLP Private Practice

• Speech therapy materials – Hopefully you have accumulated your own stash of materials over several years, but you might need a little boost to be fully ready-to-go.
• Speech assessments and evaluation protocols – Speech tests are very expensive, ranging from $100 to $500 and don’t forget that packages of protocols range from $25 to $80. Luckily, the tests are a one-time expense.
• Cost of rent of a space or transportation to home-based sites – Consider obtaining a therapy space. Make calls around your neighborhood to see what spaces are going for. It may make sense to put off spending rent on a space until you have a large caseload. Rent is a costly reoccurring expense. Consider home-based clients and traveling to them.
• Office supply costs – Folders, lockable file cabinets, a desk, tables, chairs, and bookshelves are just a few of the things you will need to start your own private practice. Again, your need depends on whether or not you jump into your own office or your start a home-based practice (for example, through Early Intervention or Home Health).

Costs can add up. Run the numbers so that you have a rough idea of your total cost. Many funding sources are available; however, keep in mind that risk is a concern with any loan:

7 Sources of Funding for Your SLP Private Practice

• Bank or Credit Union Loan – Your personal bank has a good idea of your credit-worthiness and will most likely offer you a loan.
• Small Business Loans – The Small Business Administration (SBA) has resources for small business owners.
• Home equity loan – If you own your home, a home equity loan might be a way to obtain startup money. However, your house can be taken away if you default on the loan.
• Credit cards – Credit cards are probably the most popular way that small business owners obtain the funds for their business at the beginning. However, interest rates are often high so do your homework on your cards.
• Family members – Reaching out to supportive family is a great way to get money and pay little to no interest. There may be different kinds of “strings attached” to family money, though.
• Withdrawal from 401k or 403b – If you have been putting money into a 401k or 403b for your retirement, you may be able to withdraw from it. However, there are penalties at the time of withdrawal and it will be taxed as income at the end of the tax year.
• Tax return – A fat tax return can be a terrific infusion of cash into a small business.

I hope my suggestions are helpful to you. Did I miss anything? Please comment below or send me an email. Thanks!

Learn more here: 5 Easy Private Practice Tips

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• Online ASHA CEUs
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Large groups: 11+ save 25% - 35%, this option is for groups of 11+ individuals and/or if purchasing multiple courses. , buy codes for your group. purchase codes, visa, mastercard, discover, and american express are accepted on our website., purchase orders are accepted here: submit po, click here for more information, group rate applies to regular-priced courses only and cannot be combined with other sales, add-ons, bundles, or discount codes. offer excludes courses: #e01, #e95, #e128, & #e273., this option is for registering each of your small group members for the same course using a credit card through our website., first, gather each individual's first and last name and nss account number. all information must match exactly with their account at northernspeech.com., then, click here to register each group member*:   enroll & pay now  , *credit card payments are accepted individually or with one (1) card., group rate applies to regular-priced courses only and cannot be combined with other sales, add-ons, bundles, or discount codes. offer excludes courses: #e95, #e128, & #e273..

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0.2  ASHA CEUs

How to start your own telepractice business #e287.

Presenter: Marissa Rocheleau, MA, CCC-SLP

Description

Learn the essentials for starting your own telepractice business..

Read more comments about this course!

This comprehensive course outlines how to start or expand your own telepractice business as a therapist. It will cover issues related to company formulation and licensing, taxes and liability, advertising strategies, resources for online business owners, hiring and supervising therapists, and how to write contracts for schools, hospitals, early intervention, and outpatient services.

This course is for therapists who are interested in forming their own online business and is best suited for those who have a reasonable amount of experience with telepractice, or who have taken the beginner telepractice courses through Northern Speech Services. Stop and re-start the course at any point. Learners retain access to course content after completion for ongoing reference and review.

Course is offered for 0.2 ASHA CEUs – 2 Contact Hours.

Additional telepractice courses by Marissa Rocheleau >>

Course Overview & Run Time

Course Overview – Run Time: 2:08:07

• Introduction
• Pros and Cons
• Vision and Mission Statements
• Writing a Business Plan
• Types of Corporations
• Business Licenses and Forms
• Naming Your Business
• Profit First Strategy
• Software and Equipment
• Relevant Professionals to Consult
• Funding Sources for Businesses
• Advertising and Promotion
• Telepractice Right Now
• Pricing Strategy
• Contracting with Schools
• Contracting with Hospitals
• Contracting with Early Intervention
• Outpatient Clients
• Contract Bids
• Other Potential Documentation
• Purchasing Materials
• Hiring and Supervising Therapists
• Selling Telepractice
• Insurance Billing
• Additional Resources

"The business plan and suggested therapy tools are very helpful. This course was a great overview and made me feel confident I can open a teletherapy practice." – J.M., prior course participant

Content Disclosures

The content of this online CE course does not focus exclusively on any specific proprietary product or service. Presenter financial and non-financial disclosures may be found in the Presenter & Disclosures area.

Course Format

Video PowerPoint presentation with author narration & downloadable handout. Stop and re-start the course at any point. Learners retain access to course content after completion for ongoing reference and review.

Comments From Prior Course Participants

"The presenter was organized and concisely discussed the how-to of starting your own teletherapy business. The presenter reminded this clinician not to put herself second when pricing services. She also reminded me I need to remember to review expenses and deduct them on my taxes." R.D. (Jul. 2024)

"Getting started and marketing information was beneficial. I liked the demonstration of the use of websites." H.V. (Mar. 2024)

"I found the resources mentioned toward the end of the program the most helpful. The presentation was well organized." J.P. (Feb. 2024)

"The marketing ideas and client-attaining ideas were beneficial. The course was to the point." M.D. (Oct. 2023)

"The business plan and suggested therapy tools are very helpful. This course was a great overview and made me feel confident I can open a teletherapy practice." J.M. (Sep. 2023)

"This course was extremely comprehensive from start to finish. I liked the discussion on the steps to setting up services and available resources." P.R. (Aug. 2023)

"I learned new, important information on this topic. The presentation was easy to follow." A.B. (Jul. 2023)

"It was beneficial to discuss how to market and what is needed for school contracts. The presenter gave examples and shared places where additional information can be found." R.M. (Jul. 2023)

"The forms needed to give to patients and helpful websites were beneficial. I liked the flow from topic to topic." M.B. (Jul. 2023)

"The presenter was clear and concise in her information. I liked the information that related to marketing." J.M. (Jun. 2023)

"I liked the thoroughness and knowledge of the presenter. The discussion was beneficial of the specific steps that need to be taken to form a business." B.M. (Mar. 2023)

"Identifying resources and equipment to start a telehealth business was helpful. I liked the organization and layout of course content." L.E. (Dec. 2022)

"I liked the advice on writing a business plan. The presenter has real-life experience in this area of our profession." A.C. (Dec. 2022)

"Speaker gave practical advice and good resources." D.M. (Dec. 2022)

"I liked the marketing tips and the pro's and con's discussion." K.L. (Oct. 2022)

"Good information on launch email, lead magnet, social media, google ads and SEO. I liked all the resources offered." K.M. (Sep. 2022)

"I enjoyed learning about the specifics of growing my own clientele and also things to consider when hiring other therapists." K.J. (Sept. 2022)

"Good details on things I would not have thought of." K.J. (Sept. 2022)

"The entire presentation was beneficial as I am currently working as a tele-therapist with a large company and considering going out on my own." L.S. (Aug. 2022)

"This course was extremely practical and actionable. Great business and marketing recommendations." S.B. (Aug. 2022)

"I liked the entire course! Good marketing strategies." R.K. (Aug. 2022)

"It was clear and easy to understand."   R.K. (July 2022)

"It was well organized with a wealth of information."  K.C. (July 2022)

"Having a private practice that I will be expanding, I found the contract section to be very beneficial. All of it provided beneficial reminders as well as new ideas."   M.L. (July 2022)

"Learning how to price school contracts and how to market yourself. Good info on Google Ads and SEO." N.C. (July 2022)

"The speaker made great points about how the therapist shouldn't sell themself short." A.W. (July 2022)

"Great presentation of all the things you need to do to get a PP set up." S.C. (June 2022)

"I am considering starting a teletherapy private practice. All of the information presented was beneficial for me to know. Well organized and presented." N.W. (June 2022)

"Course had specific examples. I liked the marketing aspects." L.A. (June 2022)

"I liked the specifics about social media. And good information on the benefit of teletherapy for the consumer." P.S. (June 2022)

"New and valuable information on legal aspects. The course was very detailed." C.B. (June 2022)

"Excellent presenter – very knowledgeable, concise. Great handouts. Very current information. Excellent all around." N.D. (May 2022)

Course Objectives

• List the steps necessary to start or expand your telepractice business.
• Identify the resources and equipment necessary to start or expand your telepractice business.
• Apply common advertising and pricing strategies for telepractice.

Presenter & Disclosures

Marissa Rocheleau, MA, CCC-SLP , is the owner of Linguabilities, a private practice based out of Florida that provides telepractice, job coaching, and staffing contracts for online speech therapy, as well as Telepractice Connect, a membership site dedicated to all things telepractice. Marissa received her Bachelor's degree from Indiana University, double majoring in Psychology and Speech and Hearing Sciences. She then completed a Master's degree in Speech Pathology, earning licensure in seven states and her ASHA CCCs. Marissa has extensive experience working in the schools, in evaluations, and in teletherapy settings. When not working, Marissa enjoys spending time with her husband Gabriel and dogs, Petri and Bunsen.

Speaker Disclosures:

Financial — Marissa Rocheleau is a presenter of online CE courses sponsored by Northern Speech Services; receives royalties.

Financial — Marissa Rocheleau is the owner of Linguabilities and Telepractice Connect ; ownership interests.

Nonfinancial — Marissa Rocheleau has no relevant nonfinancial relationships to disclose.

Intended Audience / Accreditation

This program is offered for 0.2 ASHA CEUs (Intermediate Level; Related Area).

Intended Audience

• Speech-Language Pathologists

ASHA CEUs: NSS online courses are registered with ASHA and are offered for ASHA CEUs. The number of ASHA CEUs is noted above. Note that 0.1 ASHA CEU = 1 contact hour = equals 1 CEE.

ASHA CE Registry: During the enrollment process, if you select to receive ASHA credit for this course and if you provide your ASHA number, NSS will automatically submit your CEU information to the ASHA CE Registry after successful course completion (80% on post test). This submission happens once per month, during the first week of the month. For example, if you complete your course on November 7th, NSS will submit all November online course CEUs to ASHA during the first week of December. When ASHA inputs the information into their database, they will mark the course as completed on the last day of the month in which it was completed, so November 30th using this example. The certificate of completion available for you to print immediately, however, will reflect the actual completion date, November 7th in this example. Due to ASHA processing procedures please allow 2-3 weeks, from the submission date, for the course to appear on your ASHA transcript.

ASHA CEUs: Attendees must meet at least one of the following conditions in order to be eligible to earn ASHA CEUs:

• Current ASHA Member.
• ASHA Certificate of Clinical Competence (CCC) Holder.
• Licensed by a state or provincial regulatory agency to practice speech-language pathology (SLP) or audiology.
• Credentialed by a state regulatory agency to practice SLP or audiology.
• Credentialed by a national regulatory agency to practice SLP or audiology.
• Engaged in a Clinical Fellowship under the supervision of an individual with their ASHA CCC.
• Currently enrolled in a master's or doctoral program in SLP or audiology.

If an attendee is not an ASHA member or CCC holder but meets any of the above criteria, they may inform the ASHA CE Registry of their eligibility by visiting this site .

Licensing Boards: Most state licensing boards DO accept CEUs earned online (usually classified as home-study credits). Some state boards do, however, place a limit to the number of credits that can be earned via home study/online courses. For the most current information, we suggest that you contact your licensing board or agency to verify acceptance policies and/or any credit limits related to home-study courses prior to registering for this course.

Additional accrediting agencies by which Northern Speech is an approved CE provider:

• California: NSS is approved as a provider of continuing education by the California Speech-Language Pathology & Audiology Board. Provider #PDP4. Online CEU limits may apply; please contact SLPAHADB for current online CEU acceptance policies.
• Iowa: NSS is approved as a provider of continuing education by the Iowa Board of Speech Pathology and Audiology Examiners. Provider #169.
• Kansas: NSS is approved as a provider of continuing education by the Kansas Department of Health and Environment. Provider #LTS-S0005.
• Florida: NSS is approved as a provider of continuing education by the Florida Speech-Language Pathology and Audiology Board. Provider #SPA-026.
• New Jersey: NSS is approved as a provider of continuing education by the New Jersey Department of Education. Provider #1654.

Frequently Asked Questions

Online course faq — click here, customer support: please phone 888.337.3866 or email [email protected] ..

Course Completion Timeframe:

You have unlimited time to complete our online courses. You may log off and log on as often as you’d like to in order to complete all sections of a course.

However, completion dates are based on Eastern Standard Time. Therefore, if you need your CEUs by a certain date, be sure to complete the course test before 11:59pm EST on that date. For example, if you need CEUs before January 1st, you will need to complete the course test before 11:59pm EST on December 31st.

Content Access:

Access to course materials and content does not expire, even after completing the post test. You may continue to review course material by logging into your NSS account, clicking the My Online Courses tab, and then viewing your desired course.

Certificate of Completion:

On successful completion of the post test (80%), a certificate will be immediately available for download and/or printing. This certificate will include your name, date of completion (based on Eastern Time Zone, USA/Canada), and number of contact hours (CEUs / CEEs). Please note that CEUs are awarded on the date of successful test completion, not the date of course enrollment. Please ensure that you successfully complete the post test prior to any licensure renewal dates.

ASHA CE Registry Submission:

During the enrollment process, if you select to receive ASHA credit for this course and if you provide your ASHA number, NSS will automatically submit your CEU information to the ASHA CE Registry after successful course completion (80% on post test). This submission happens once per month, during the first week of the month. For example, if you complete your course on November 7th, NSS will submit all November online course CEUs to ASHA during the first week of December. When ASHA inputs the information into their database, they will mark the course as completed on the last day of the month in which it was completed, so November 30th using this example. The certificate of completion available for you to print immediately, however, will reflect the actual completion date, November 7th in this example. Due to ASHA processing procedures please allow 2-3 weeks, from the submission date, for the course to appear on your ASHA transcript.

Purchase Orders:

Purchase orders are currently not accepted for online orders, if you wish to submit a purchase order please do so at [email protected]  or fax to 888-696-9655.

What is an Online Course?

Our Online Courses consist of video, audio, and/or text content and are offered for ASHA CEUs. Unlike a webinar, which requires participants to be logged on and at a computer at specific times, our Online Courses are available to you at any time, from any device, via your NorthernSpeech.com online account. You may work at your own pace and start and stop your course as you wish. Your course will conclude with a short post test. On successful completion of the post test (>80%), a printable certificate of completion is presented to you.

Receiving CEUs:

Northern Speech is an ASHA CE Provider and our online courses are registered with ASHA and offered for ASHA CEUs. Please note that successful completion of the online post test is required prior to the awarding of CEUs. Please contact your state licensing board for acceptance policies related to CEUs earned online. Please note that courses offered for university students are not applicable for CEUs.

Registering for an online course:

You may browse all online courses by clicking the Continuing Education tab above, then Online Courses. Once you find a course, click Enroll Now, and you will be asked to either log into your existing Northern Speech account or create a new online account. Once you’ve entered your account information and provided your credit card payment, your course will be immediately available to you.

Accessing your purchased course or returning to a purchased course:

You will be able to access your online course by logging into your Northern Speech account and then clicking the My Online Courses tab on your profile screen. Click the course you would like to start or to resume. From there, proceed through the course sections until you are ready to complete the post test. You do not have to complete your course all at once. You may log on and off as you wish.

Testing requirements:

Each online course concludes with a post test consisting of multiple choice or true & false questions. Scores of 80% or greater are required for successful course completion and awarding of CEUs. You may revisit course materials and retest as needed to achieve a passing score.

Number of CEUs offered:

We offer courses from 1 to 21 contact hours. Each course will note the number of CEUs offered. Please note that 0.1 CEU = 1 contact hour = 1 CEE.

State licensing boards and online CEUs:

NSS is an ASHA CE Provider and most state licensing boards DO accept ASHA CEUs earned online (usually classified as home-study credits). Some boards do, however, place a limit to the number of CEUs that can be earned via home study/online courses. For the most current information, we suggest that you contact your licensing board or agency to verify acceptance policies and/or any CEU limits related to home-study courses prior to enrolling in an online course.

Course formats:

Our course formats include: text, audio, video, and PowerPoint with author narration. Each course will note the format on the course description page. Most courses include closed captioning.

Course handouts:

Most of our online courses provide a link to download the accompanying handout as a PDF file. 

Group discounts:

Groups of 3 or more are eligible for a 20% discount on each registration on most of our online courses. To receive this discount, registrations need to be processed together via the "Group Rates" tab on the Online Course of your choice.

Computer requirements:

For our online courses to function best, we recommend that you update your computer to include the newest version of your Internet browser (Safari, Chrome, Firefox, Edge, Internet Explorer, etc.) and newest version of your computer's operating system. Also a high-speed Internet connection is recommended (cable or DSL). Speakers or headphones will be required for many of our courses as many contain audio components.

Course Cancellation Policy:

A purchased online course can be exchanged, refunded, or transferred to another individual if contact is made with NSS (via phone or email) within 30 days of purchase and the course materials have not been viewed or downloaded. 

Special Needs:

Please click here for any special needs requests, and we will do our best to accommodate them. 

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More Offerings by: Marissa Rocheleau

#e259 telepractice and augmentative and alternative communication (aac).

This course outlines how to implement AAC in the telepractice setting. It will cover identifying appropriate models of intervention and assessment for AAC telepractice and discuss potential solutions for implementing AAC online.

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#e267 School-Based Telepractice Including IEP Process

This course outlines how to implement telepractice in a school-based setting, including how-tos for holding IEPs and case management virtually. It includes implementation suggestions that therapists can immediately apply in their practice.

#e277 Telepractice Treatment For Early Intervention And School-Age Children

This course is designed for SLPs to learn more about treating children in early intervention (ages 0-2) and in school settings (ages 3-22) using a telepractice based model. Content will include research foundations supporting the use of telepractice, valuable resources and materials to implement in treatment, collaboration strategies, real videos of treatment, and case studies.

#e311 Ethics In Telepractice

This course outlines ethical ramifications of providing online service delivery to clients. Includes a discussion of the legal and ethical guidelines for providing online delivery of services, and a discussion of guidelines for determining if clients are appropriate for telepractice. Course content is applicable for both adult and pediatric client populations.

#e238 Treatment In Telepractice: Part 3

This course will cover issues related to choosing treatment materials for designing effective teletherapy sessions. Discussion will cover document cameras and iPad mirroring and offers many product suggestions and screen captures of potential materials that therapists can immediately apply in their practice.

#e227 Evaluations In Telepractice: Part 2

This course will cover issues related to choosing paper-based and digital evaluations, relevant factors that may impact assessments online for children and adults, and discuss potential solutions for common challenges in the online realm. It includes many product suggestions and screen captures of potential types of assessments that therapists can immediately apply in their practice

#e198 Evaluation And Treatment In Telepractice: Part 1

This course is designed as an introduction to teletherapy evaluation and treatment for speech-language pathologists working with either children or adults. This course will cover client factors, privacy concerns, and technology considerations. It includes multiple samples of telepractice in action as a great visual aid for applying the material covered.

#e260 Early Intervention In Telepractice

This course outlines how to implement early intervention in the telepractice setting. It will cover issues related to the research supporting telepractice for early intervention, identifying appropriate models of intervention for EI telepractice, and discuss potential

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Northern Speech Services 325 Meecher Rd. Gaylord, MI 49735

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The Practice of Therapy

Resources, tips and advice for success private practice.

• PsychCraft LLC
• Starting Phase
• Growth Phase
• Scaling Phase
• Money Matters In Private Practice | The Course
• G-Suite for Therapists E-Course
• Accounting Templates for Google Sheets
• Love the Work, Hate the Job | The Course
• Paperwork Packet
• Session Note Helper 2.5
• The “Works”
• Profit First Resources
• The Full Focus Planner™
• Private Practice Office Set-Up
• Private Practice Start-Up Guide
• Start Your Website
• Podcast Notes
• Starting Up
• Creating Websites
• Productivity
• Facebook Live
• Private Practice Marketing
• Online Therapy
• Office setup
• More Resources…
• FOCUS GROUPS!
• LISTEN TO THE PODCAST!

In that blog post I did last year on the business models in private practice , I talked about the difference between a business model vs. a business plan.  I used a clinical analogy that most of us in the field can relate to:

Business Model = Treatment Approach

Business plan = treatment plan.

A business plan is simply roadmap that outlines how you will grow your practice. B usiness plans are a statement of business goals, reasons they are attainable, and plans for reaching them.  They can be either detailed or more general.  A good practice business plan will help keep you on track and help guide where to put your energy.

The thing to think about in creating a business plan for your practice, is that it really is essentially a map for how you will get to where you are going.  So the first thing to figure out is where you are going, then work backwards from there to create your business plan.  After-all, if you don’t know where you are going, how are you going to get there?!

Think about is where you would like to be with your practice a year from now.  Where would you like to be 5 to 10 years from now?  A place to start is to think about your personal goals and aspirations.  For most, part of this is financial.  Other parts of this are probably more about your personal values and what you see as your mission in life.  In other words your “why”. The first step is to get some clarity about all of this for yourself.

Other than personal goal setting or reaching certain income level, business plans are also often used to get financing for your practice.  And the reason anyone would need financing would be to have the capital and income they needed to help grow their business to a certain level or to be self-sustaining.  Banks and other lenders are going to require a pretty in-depth and comprehensive business plan before they will loan you the money.  Without going into a lot of detail about this, here is a great resource from the Small Business Administration on business plans:   https://www.sba.gov/starting-business/write-your-business-plan

Whether you are going to try and get a small business loan or not, (and I would say avoid doing this if at all possible)  it is still a good idea to have a business plan that you can work from and that will keep you on track.  It is also a good idea to write all of this down.  Here are some steps to take in creating a simple business plan for your private practice.

Create a mission statement and vision for your practice

What are your values and how do you want your potential clients to be treated with they come in the door?  What do you strive for as a person and as a mental health practitioner?  This can also be your “why”.    These will be the guiding principles that will be what grounds you and from which you operate your practice. Write this out.

Financial Plan

Know your KPI’s.  One of the main components for any business plan is to know your financial goals and have some KPI’s, Key Performance Indicators. You would then track your KPI’s to see how you are doing in achieving your financial goals. Usually this is simply having a specific dollar amount you want to achieve.  Other KPI’s might be around the number of sessions held or how you spend your time.  Regardless of what you have as your KPI’s, have a way to track and look at this often.  One of the best ways to figure out your KPI’s is to work backwards from the numbers you have set as your goal.

So for example, if you have set a goal for yourself to be making $100,000.00. We can break this down more.  Working “backwards” from $100,000.00 we can figure out what you would need to do each day in terms of seeing clients and having sessions:

$100,000 ÷ 12 (months)  = $8333.33 a month

$8333.33 ÷ 4 (weeks) = $2083.33 a week

$2083.33 ÷ 5 (days) = $416.66 a day

$416.66 ÷ $100.00 (per session rate) = 4.16 sessions per day

In this example we have used “gross numbers”.  You will need to factor in your time off and other expenses.  You will need to do more than just have 4 sessions per day at $100.00 per session to reach the goal of $100,000.00 in take home pay.  So to cover your expenses and time off, you will either need to see more clients, raise your rates or both.  In other words, you will need to bring in more than $100,000.00 if you have set that as your goal.

Track and know your expenses  

In order to have a solid business plan, you need to know what your expenses will be.  Office rent, phones, office equipment, and advertising are just a few of the expenses involved to run a practice.  But there are several other expenses to take into consideration.  These are what I call the “Hidden Expenses” (Again, here is the blog post I did on this subject) .  The point being, know what your projected expenses will be in order to factor that in with your business plan and budget.

Plan your cash flow  

Sometimes it is hard to predict when we will have a high volume of clients vs. a low volume.  Generally most practices slow down around holidays. If you are not seeing clients, it also means you are not bringing in any money and your expenses are still there.  So you need to plan for times when your case load and volume of sessions go down.

The best way to handle this is to have a buffer or savings that will cover those down times.  Put into your financial plan regular savings. Treat it like you were paying a bill; something you owe to yourself.

The other thing to consider as you think about cash flow is to consider ways to diversify your income.  In other words, do more than just see clients to bring in the amount of money you need to reach your financial goals.  (More about diversifying income here) .

Create and keep a budget  

With your projected income and expenses, create a budget that will help you track your KPI’s, expenses and cash flow. Look at this and update it often.

Marketing Plan

A marketing plan is the primary tool for bringing in new clients. If you were to tell someone what you do and what kinds of people you work with in your practice, how would you describe it?  In other words, what is your “elevator pitch”? Your marketing plan is driven by a clear concise message that you get out to the public through your marketing efforts.   Investing your time, effort and resources into your marketing plan is where you will get a ROI, (return on investment). The ultimate goal of any marketing plan is to bring in new clients.  So learn all you can about marketing your practice and then put a plan into action.   More on marketing here…

Growth Plan

As you grow it might mean having to spend money on things that will facilitate that. For example, moving to a new office or adding support staff.  Investing in your private practice can be done either financially or in terms of time. And the old adage of “you have to spend money to make money” is true.  But you need to know how to invest wisely. Learn what is going to be the best ROI with both your time and money. Also what will truly help you grow.

This is where having a long term plan comes in.  Where would you like to be 5 or 10 years from now with your practice?  What are the small steps and investments you will need to make in order to reach those long term goals?  Put plans and actions in place in your business plan now to help you reach those long term goals.

Business plans can seem intimidating to some.  But the time spent in developing a good business plan for your private practice will be well worth it. Let it be a living document that changes and grows as your practice grows. Refer to it often so that it can be a roadmap for your growth.  The good news is that you can tweak it anytime you want  to….and you should!

Some other good resources

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