Financing real estate development can be costly and expensive. From clearing the land and grading it, to installing roads and necessary infrastructure, there are a variety of expenses involved that can be cost-prohibitive for both individuals and real estate developers. This is where a land development loan, or a real estate development loan, comes in. It provides the funds needed to get any piece of land ready for development.
Dive into land development loans below and learn everything you need to know about them for your next project.
What Kind Of Down Payment Is Required With A Land Development Loan?
While lenders are willing to fund a land development project, they typically require a larger down payment, since the land does not have that much value. The value could increase once it’s developed, but buyers could default on payments before any significant value has been established. Because of this, lenders often require a down payment between 25% and 30%.
Can The Land Itself Act As Collateral For A Land Development Loan?
The land can act as collateral to secure the land development loan, but there are two things to keep in mind that may prevent this from happening:
The development loan is more than the purchase price of the land.
The land is still serving as collateral for a land purchase loan.
If the development loan is more than the current value of the land, then additional collateral may be needed.
For the second scenario, the land will most likely not be able to be used as collateral because it’s already tied up with another loan. Sometimes lenders are willing to take the risk of securing a loan with an asset that has already been collateralized, but it’s not a guarantee. The reason is that, as the second lender, they would not have the first right to the asset if the borrower defaults on their loans. That's why many lenders are not willing to accept an asset that has already been used as collateral.
Lenders that do accept collateralized assets typically already have an existing relationship with the borrower and have confidence in their ability to repay the loan. However, even with a positive history, they are still likely to charge a higher interest rate than they would otherwise.
What Are The Interest Rates For Land Development Loans?
The interest rate on property development loans will vary from borrower to borrower, depending on the loan amount, credit score, down payment amount, and collateral used to secure the loan. Overall, land development loan rates are higher than small business term loan rates because of the greater risk.
Also, keep in mind that interest rates aren’t the only cost associated with a land development loan. Other costs include:
Appraisal fees
Loan origination fees
Survey fees
Speak with a loan officer to get a better understanding of land development rates and commercial mortgage rates.
How Long Is The Repayment Period For A Land Development Loan?
Repayment periods for land development loans are usually between 3 and 10 years, but exact lengths vary between lenders and borrowers.
Pros and Cons of Land Development Loans
Pros of Land Development Loans
Cons of Land Development Loans
Borrower gets access to needed capital to develop land.
Lenders are often open to creative loan structures.
They can lead to great profits if the land is resold once it is developed and made ready for large-scale construction.
They can help businesses get established in new locations.
They come with high risk for both the lender and the borrower. They may require additional collateral.
Interest rates tend to be higher than a traditional business or real estate loan.
Repayment periods can be shorter than normal.
How Much Does it Typically Cost to Develop Land?
There are many factors that impact the cost of developing land. Assuming the land has already been purchased, variables that influence how much it will cost to develop land include:
Geographic location
Size of property
Location of property, which may require:
Rock removal
Tree removal
Grading
Permits needed, which may include:
Zoning
Building
Environmental
Infrastructure needed, which may include:
Power lines
Sewer lines
Water lines
Roads
Sidewalks
Internet
Depending on what needs to be done and where, land development can range from tens of thousands to millions of dollars.
Are There Other Types of Construction Loans?
There are several types of construction loans, some of which include mini perm loans, A&D loans, and interim construction loans. Here's what you need to know about these options.
Mini perm loans -Typically has a three- to five-year loan term and is used to finance the construction or renovation of a commercial property, often requiring a balloon payment at the end of the term (although this can often be avoided through refinancing)
A&D loans -Standing for acquisition and development, can be used for both the purchase of land and its development
Interim construction loans -Covers the costs of construction, with borrowed money coming in installments, and lenders typically only requiring interest-only payments during the actual construction process
A land development loan helps cover the expenses related to getting undeveloped land ready for construction. Land clearing, grading, and installing infrastructure can all be very expensive, and a land development loan helps pay for those costs. However, there are other types of commercial real estate construction loans that may also work, too. Other options include mini perm loans, interim construction loans, and A&D loans.
If you’re thinking of starting a medical practice, you’re in superb company, as the American Medical Association estimates that around 49% of doctors in the U.S. run their own private medical practice. While starting your own medical practice may seem like a daunting task, you may want to start your own because:
You want to have autonomy over the kind of patient care you provide as a physician
You want to set your own work hours, to work as little or as much as you need to
You want a business that is flexible enough to be present for your children, elderly loved ones, or other dependents you need to care for.
All these are wonderful reasons to start a medical practice, and in this post, we will provide you with a step-by-step checklist to help you start your practice on the right foot. We will touch on how to:
Get your licenses and credentials in order for a smoother registration experience
Secure a location for your practice
Register with insurance companies
Get start-up equipment
Hire and train staff
Devise a marketing strategy
Launch your medical practice and what to do after launch
Let’s delve into the checklist.
A checklist for starting a medical practice: Before you launch.
1. Create a business plan.
Just the thought of putting together a business plan can scare away would-be business owners. But the truth is, a medical practice is a business. Creating a business plan that captures the objectives for your business is a must to provide your medical practice with a sense of direction, optimize your business for growth, help you document the strategies that help ensure that your practice becomes profitable, and get the funding you need to start.
2. Obtain funding
Now that you have your business plan, it is time to obtain funding for your medical practice. Until you’ve established consistent revenue streams, you will need to obtain funding to cover:
Vendors (Ex: medical billing, lab testing, and medical transcription vendors, if not covered by your in-house team)
Business registration costs
Taxes
While the exact amount you need might differ based on several factors including the specialty of your practice, location, and the equipment you need, according to The Startup DPC, starting a modest two-room primary care office with one employee could require up to $21,000 in start-up costs.
3. Consult with a business attorney.
It would be a shame to start a thriving medical practice only for an expensive lawsuit to shut it all down. During the pre-launch period, it is wise to get in touch with an attorney who specializes in helping medical businesses. An experienced attorney will not only help you with the complicated process of having your medical practice legally set up in your state. They will also be able to help you with things like employee and patient contracts, as well as advise you on the kind of malpractice insurance you might need to protect your practice.
4. Get your licenses and credentials in order.
To provide proof to your state, you will need to produce your medical school diploma and copies of board certifications required for your specialty. Thus, it is important to have these documents handy as you prepare to start your medical practice. Besides proof of your medical education, license, and board certifications, you will also need to gather the following documents for some of the steps that follow in this checklist.
Drug Enforcement Agency (DEA) license
Controlled Dangerous Substance license
Malpractice insurance documentation
Explanation of any past malpractices
Obtaining and/or gathering all these documents will make it easier when you have to submit them at the relevant step in the process. They are especially critical when the time comes for you to be credentialed, so you can be reimbursed by insurance companies for your services.
5. Secure the location for your medical practice.
A medical practice that is easily accessible by your patients is important as you choose and secure a location for your medical practice. Choosing the right space for your practice will also take into consideration factors like:
Storage for medical equipment you will be using
Consulting room/office space
Space for exam rooms
A reception/intake area for patients
6. Register with insurance companies.
In order to receive third-party reimbursement for the care you provide within your medical practice, you will need to be registered with insurance companies. In order for this to happen, you must be credentialed.
While the credentialing process might differ slightly from state to state, here are five things you will absolutely need in order to be credentialed.
Apply for and obtain a Tax ID from the Internal Revenue Service. An attorney or accountant will usually be able to help you with this.
Register for a Type 2 National Provider Identifier.
Register for a bank account under the legal name of your medical practice.
Look for and settle on the location that will house your medical practice
Obtain malpractice insurance.
7. Get start-up equipment for your medical practice.
You will need to outfit your office with the standard medical equipment mandated by your state, as well as the pieces of equipment that will allow you to provide the best care to your patients.
Equipment you often need before you open your doors include:
An AED (automated external defibrillator)
Basic diagnostic tools, like pulse oximeters, thermometers, blood pressure cuffs, stethoscopes, otoscopes, and flash lights
Scales
Height rods
Exam tables
Disinfecting sprays and wipes
Hand washing supplies, like hand soap and hand sanitizers
Containers for used sharps
Containers for biohazard waste
Partitions and privacy screens
Personal protective equipment, including gloves, face masks/shields, and gowns
An EKG unit
Computers for charting
UV lighting
You will also need medical practice management software to help your practice manage billing, health records, scheduling, and more.
Learn more about our medical equipment financingto help you meet your medical equipment needs for your practice.
8. Hire and train staff.
Hiring the staff you need for your medical practice will depend on what your needs are. Perhaps, to get started, all you need is a medical assistant to help you take initial medical histories when your new patients start coming in.
If you need more than that, it is often worth hiring a registered nurse (RN) or licensed practical nurse (LPN/LVN) to help you. Once you’ve hired the appropriate staff, it is worth taking the time to train your staff on your expectations and even your philosophy for providing medical care before you launch. Having a receptionist to handle incoming calls and schedule appointments is also helpful.
9. Devise a marketing strategy for your medical practice.
Every successful business has a marketing strategy. The list below is not exhaustive, but here are six great ways to market your medical practice, even before you launch.
Establish a website.
Websites are still essential. Think about your own actions. What is one of the things you do when one of your friends tells you about a new business? You will likely use Google, review sites, and other tools to look them up online and be directed to their website. Having your website up before launch day ensures you will be found on search engines and introduces potential patients to your medical practice and the staff that will be serving them.
Set up your social media pages.
A recent survey by Patients Like Me, found that 11% of U.S. adults surveyed say they turn to social media for health information. With over a billion users logging into social media sites on a daily basis, it makes sense for your medical practice to create pages on popular social media platforms like Facebook and Instagram. Social media is another avenue for potential patients to discover your practice and receive accurate health information. And it is helpful that several social media platforms have tools that are geared toward business owners. Furthermore, if you ever decide to run ads on a social media platform, having an account will come in handy.
Set up email marketing.
Stay in touch with your patients between visits or send them special sales messages with a monthly newsletter. Email marketing can be a great way to stay top of mind with your patients.
Claim local listings.
Search engines like Google, Bing, and Yahoo allow businesses to claim their businesses online and create local listings. If you have a location, claiming your local listing for your medical practice is a great way to get the word out there about your business.
Direct mailers
Some people will never find out about your practice without direct mail sent to their homes. Don’t leave these people out of your marketing!
Join your local Chamber of Commerce.
You will meet other business owners at your local chamber of commerce meeting. In addition, it’s a good way to become involved in your local community while spreading the word about your new practice.
Launching your medical practice (and what to do post-launch).
Congratulations! You’ve done a lot of heavy lifting, and now your medical practice is successfully launched. Now it’s time to begin establishing those systems and processes you laid out during the pre-launch period. This is your time to shine as a medical practitioner and provide your best care.
As your first patients begin to come in, now is a good time to start working with a medical billing company to ensure your services are billed correctly and collected.
This is also when you start building your reputation as a business. During the post-launch period, sign up with review websites like HealthGrades or RateMDs. People who want to leave reviews on these websites will be able to do so easily if you’re registered already.
It is important to realize that, no matter what you do as a business owner, there are some people who will leave a bad review on either of these websites or even on your Google Local Listing. This may likely not happen during your first few weeks as a business, but it will happen. If you’re registered on these review websites, you will be able to control the conversation somewhat and provide a public explanation and/or apology to the unhappy patron.
You’ve got this!
Starting a medical practice can seem daunting. While there will be plenty of other things to do to succeed in your new endeavor, this checklist will help you get your medical practice off to a great start.
For many people who want to start their own medical practice, a lack of funding is often an obstacle. Don’t let that get in your way. Learn how you could get the money you need to fund your medical practice or get the medical equipment you need to start today.
When most entrepreneurs need funding to start or grow their business, they quickly learn one key fact: They need a business plan.
Just as you need a resume to apply for a job or a completed application to gain admittance to a university, business plans are required to apply for business financing.
And like resumes and college applications, business plans are viewed as a necessary evil by most entrepreneurs.
Yet, this shouldn’t be the case. Because unlike completing your resume or college application, the process of completing your business plan has been proven to improve your success—not only in gaining funding, but when executing on your business.
Why Business Plans are Important for Securing Funding
Business plans are a critical part of most business loan requirements. Funding sources like lenders and investors often review written company materials before investing. In the public markets, they review annual reports and other financial filings to determine the health and prospects of a company and whether or not they should invest.
The same process holds true when assessing private companies like yours. You need to present a business plan that paints the right picture of your business: one that gets investors and lenders excited to work with you. Here are some reasons to invest the time in creating an in-depth business plan.
It Acts Like an Annual Report
Look at your business plan like a public company’s annual report. In an annual report, you’ll quickly notice that it’s much more of a marketing document than a research report. Annual reports include quality pictures and graphics, they highlight the company’s top accomplishments, and they paint a pretty picture of future prospects
You should also include market research on competitors. Instead of a massive data-dump, however, paint a picture of your company's path to success in the future.
It Sets Clear Milestones
The process of writing a business plan is a good exercise for internal stakeholders as well. It helps you formalize your company's goals and identify the steps you need in order to get there. Funding sources want to see that the business has a strategic plan for every anticipated stage of growth.
It Minimizes Risk
With milestones and a strategic vision in place, you'll have the focus of where to prioritize financial and human resources. You can identify potential issues based on those strategies and create backup plans before issues arise.
What to Include in a Business Plan for Funding
There are four primary components of a business plan: executive summary, the market analysis, financial details, and the funding request. Here's what to include in each section to maximize your chances of success.
Executive Summary
Start your business plan with an executive summary that provides a quick overview of the most important points from the rest of the business plan. It’s also a chance to introduce the company as a whole such as its mission statement, products and services and management team.
Market Analysis
Detail the target market need or pain: All great companies solve a real customer need or pain. Create a solution and understand both the size of your market and the future trajectory. Is it growing or shrinking?
Detail both your direct and indirect competition. If there is a real customer need or pain, other companies must be trying to solve it already. In your plan, you must detail how they are solving the need currently. For example, when eBay first launched, it realized that the need for selling personal products was being met by yard or garage sales (indirect competition). This proved that there was a market need or pain.
While researching competitors for your business plan, explain what both their strengths and weaknesses are and pinpoint your strategy for differentiating your own company.
Financial Information
Provide detailed information on how the company is currently performing and create a credible financial model. Creating a financial model that shows your company's sales skyrocketing could do more harm than good. Investors and lenders understand that all businesses have ups and downs and that all growth takes time.
In developing your financial model, think through the timing of your growth projections. How long will it take to hire and train the right employees? How long will it take to repeatedly get your marketing message in front of customers until they buy? These processes generally take longer than you initially think. And during this time, you are often incurring expenses and generating less revenue than projected, which could result in a cash flow crunch.
Be careful to consider slower growth scenarios so you don’t run out of cash.
Funding Request
There are a few key sections to include in your requests for funding.
First, clearly state how much total funding you need, as well as the timeframe over which the funds will be used. Instead of grabbing a random number, give a detailed explanation of why and how the funds will be used.
Also, outline any specific terms and conditions you need. Are you looking for an installment loan, line of credit, or another type of funding structure? All of these details should be answered as part of the funding request.
Finally, provide information on any loans you already have and what your expected repayment plan for the existing loan and the new loan would look like.
The right business plan will get investors and lenders excited to write you a check that allows you to dramatically grow your company. And the right plan will keep you and your team motivated and on track to achieve your long-term objectives. So, don’t treat your plan as a necessary evil. Rather, treat it as an investment that can give you a significant ROI.
When financing major equipment for your small business, many lenders may require you to purchase a specific type of insurance that protects the value of your purchase. It's called equipment breakdown coverage and helps you pay for repairs caused by covered events. Here's what you need about this type of insurance and why it's so important.
What is equipment breakdown coverage?
Many businesses rely on equipment to keep operations running smoothly. Whether you run a restaurant with tons of kitchen appliances or a construction business with heavy equipment and machinery, it's important to keep everything up and running so you can keep your customers happy and your balance sheet healthy.
Equipment breakdown insurance covers repair costs when certain events occur. If your equipment is financed, your lender may require you to have a policy in place. Even if your equipment is paid in full, this coverage can still be useful. Note that this coverage is separate from your commercial property insurance, which covers only damage due to external factors such as fire or theft.
When a covered event occurs, you can file a claim to get paid to fix the equipment. There's usually a limit to how much each piece is covered for, and you may also have to pay a deductible before your coverage kicks in.
What does equipment breakdown coverage cover?
Here are common events that are covered in most equipment breakdown insurance policies.
Covered incident repairs.
Your list of covered incidents will likely vary depending on the type of equipment insured. Damage caused by power surges, burnouts, or other mechanical breakdowns are typically covered. And you could also be covered for any related inventory damage because of the breakdown. For instance, if your restaurant's refrigerator stops working, you could be reimbursed for any food spoilage in addition to the actual repairs.
Temporary or rush repairs.
Working equipment is vital to the success of your business. That's why your policy should also include coverage for rush repairs and temporary fixes. You need to keep operations running, even if it costs more to get a contractor out there the same day. You'll minimize the financial impact of your equipment breakdown on your broader business. Check policy details to understand any restrictions surrounding rush repairs.
Lost business income.
There are many requirements your claim must meet in order to be eligible for lost business income coverage. But it's an important component that's usually included in this type of insurance policy.
The idea is to get reimbursed for any revenue you couldn't collect because of an equipment breakdown. There must be a direct and well-documented correlation between the loss of income and damage to your equipment. There may also be a minimum interruption period you must get through before your policy goes into effect.
Property damage liability.
Liability coverage is a must for any business and your equipment coverage insurance should have a property damage clause. This provides reimbursement for anyone else's property that is damaged related to the equipment breakdown.
Mandatory inspections
Another benefit of equipment breakdown insurance is that your policy may cover mandatory inspections. The goal is to identify issues before they arise, ultimately saving you (and your insurance company) money.
What equipment breakdown insurance does NOT cover.
Not all issues are covered by an equipment breakdown insurance policy. Here's what won't be covered, so you can plan accordingly.
Damage from everyday wear and tear - Breakdown due to age or lack of maintenance is not included in most policies.
Software or data -Software-related malfunctions, even if purchased with equipment financing or equipment leasing, are not included in your coverage. You'll need separate business insurance to cover cyber attacks and any other issues related to software.
Repairs beyond coverage limit -Your policy will come with a limit to how much you can claim with each covered event. It's typically based on the value of the equipment (or a percentage of that value).
Deductible or coinsurance -Your insurance policy may come with a deductible, co-insurance, or both. A deductible is the amount you're responsible for with each claim before your coverage kicks in. Some policies may also include coinsurance, which is a percentage of the repair costs that you're responsible for.
How to use equipment breakdown insurance with equipment financing.
Most lenders require that you get an equipment breakdown policy whenever you finance your equipment. It's a smart financial safety net that keeps your important assets covered so you can avoid setbacks to your business when issues arise. As you explore adding more equipment to your business, remember this added cost of insurance as well. Preparation is always the key to success.
Learn more about how equipment financing can help grow your business with Lendio.
Private equity (PE) is often tangled with venture capital (VC) because they both invest in companies and use a variety of exit strategies, such as selling their stake during IPOs. However, there are some significant differences in the way they do business. Both invest in different types and sizes of companies, spend different amounts and even claim different percentages of equity.
Let’s have a closer look at the core differences between PE and VC firms, and try to characterize the variables that are pushing them to adopt one another’s strategy.
Private Equity
What is Private Equity?
Private equity is a form of investment that is much more hands-on than a venture capital investment. Instead of investing to own a stake in the company, a private equity firm acquires the entire company in the form of a buyout.
Usually, the company in question is facing some type of difficulty or is distressed in some way. The PE firm evaluates the company and has a plan for how to resurrect it and make it more valuable. There's also usually an exit strategy in mind to sell the company within a few years in order for the PE firm to turn a profit.
Who funds these private equity deals? In most cases, the answer is institutional or accredited investors. This includes investors such as:
Pension funds
University endowments
Insurance companies
Sovereign wealth funds
High-net worth individuals or family offices
Types of Investments
Private equity funding can be packaged in a few different ways. The most common types of deals are buyouts, secondary buyouts, and carve-outs. Here's what each of these means.
Buyout
This is the most well-known of private equity deals. A PE firm acquires an entire company to gain complete control of major decisions. The strategy can be used on private, public, or closely held companies.
Secondary Buyout
With a secondary buyout, a PE firm buys a company from another private equity group instead. The reasoning may be to fix a distressed company or to acquire a company to work with other relevant companies owned by the purchasing PE firm.
Carve-out
Instead of purchasing an entire company, a carve-out allows a PE firm to purchase a certain division of a company. It usually does not involve the parent company's core operations.
Venture Capital
What is Venture Capital?
A venture capital (VC) investment is a type of private equity, but instead of focusing on established companies, investors typically pick startups with the potential for major growth. VC investors can include individuals, investment banks, incubator programs, other types of financial institutions, and corporations.
In exchange for an investment, venture capitalists typically gain ownership of a percentage of the business. When profits are distributed or the company is sold, the investor gets that percentage of the total.
For example, if a VC investor invests $250,000 for 15% equity, then the startup gets acquired five years later for $10 million, the investor's 15% stake will result in a $1.5-million payout.
Types of Investments
There are usually two types of investments venture capitalists make in startups: an initial seed round of funding or a range of series funding as the company becomes more established.
Seed Funding
This is typically the first round of formal investment for startups. Some may have had a pre-seed funding round, which usually just raises capital from the founder's family and friends. In the seed round, the startup is still at an early stage, but has a concept and early proof of concept to entice VC investors.
Series Funding
As the startup becomes more established, it may opt to engage in additional rounds of funding. Each round is given a new title in succession: series A, B, C, D, and even E funding. Typically the company raises more money in each round.
Series A funding: $2 to $15 million
Series B funding: $7 to $10 million
Series C funding: average of $26 million
Private Equity Vs Venture Capital
Core differences: PE Vs VC Firms
Private Equity
Venture Capital
Ownership
Own the company in full
Own a percentage (usually less than 50%)
Type of company
Established company that needs restructuring
Startup that needs financial fuel
Investment strategy
Invest in a few niche companies
Spread out smaller investments across multiple startups
Private equity firms buy established, inefficient companies, take total control, and make them more efficient to escalate revenue. They also attempt to capitalize on mispriced assets.
Venture capital firms, on the other hand, purchase only 50% or smaller stakes in startup companies that they believe have the greatest growth potential.
While PE firms invest in a specific company and concentrate their expertise on a particular sector, VC firms like to diversify and reduce their risk profile. Usually, VC firms are limited to technology, biotechnology, and clean air companies. VC firms also often limit their investment to $10 million in each company. PE firms are open to how much they invest, particularly since they're usually buying out an entire company.
The core difference between the two is where they put their money. PEs invest in established businesses while VEs invest in startup growth.
Risk and Return
VC firms understand that most of the companies they invest in will not be profitable. But they expect that at least one of them will turn in huge profits and make the fund profitable. Because startups can be so unpredictable, they basically hedge their bets across multiple investments.
Fred Wilson, a $1-billion, New York-based VC fund, expects that out of the 25 growth companies it has invested in, about 10 will fail, one will turn extraordinary profits, about five will give solid returns, and the rest will be wiped out.
Another key difference between VC and PE? VC firms use only equity to finance their purchases, but private equity investors use both equity and debt.
Additionally, PE firms have concentrated exposure in one or a few particular industries, so they have to bear additional risk. Their holdings in the companies are so extensive that, if one of the companies failed, the fund would mostly fail. However, shouldn’t higher risk translate to higher returns?
Modern portfolio theory proposes that greater risk is compensated with higher returns, but here, VC firms, even with the higher risk, are targeting the same returns as PE firms, and actual returns for both, are also very similar.
Small business owners who want to retain full ownership of their companies will most likely want to avoid outside investment.
Instead, apply for a small business loan to get the exact amount of financing you need without having to give up equity in your company.
You’ve toyed with the idea of starting a healthcare business, but you might not be sure what business you could start. Even if you have a healthcare business idea, you’re not sure if it would be profitable or have the potential to grow over the next few years.
According to the Centers for Medicare and Medicaid Services, U.S. national healthcare spending grew to $4.3 trillion in 2021. This equaled an average of $12,914 per person, and it accounted for 18.3% of the Gross Domestic Product (GDP). While a lot of this money was spent with large healthcare organizations, a considerable amount was paid to private healthcare business owners as well.
Healthcare businesses are not only the focus of so much spending, but also much more likely to survive and thrive. According to the U.S. Bureau of Labor Statistics, only 15.6% of healthcare businesses fail in the first year, significantly below the 21% average first-year failure rate across all industries.
In short, starting a healthcare business is an extremely promising prospect right now. To help you narrow down the direction you could take, we will cover 24 healthcare business ideas—any of which you could start executing over the next few weeks.
Let’s dive in.
Year
Healthcare failure rate
Overall failure rate
1
15.63%
20.90%
2
24.99%
31.42%
3
30.14%
39.32%
4
37.10%
44.54%
5
41.15%
48.37%
Based on U.S. Bureau of Labor Statistics Data of survival rates of businesses started in 2017.
Growth and cost comparison.
Healthcare business growth and cost comparison.
There are multiple factors to consider when choosing which type of healthcare business you want to start, including your own expertise and personal interests. The following chart gives you an overview of the estimated market size, compound annual growth rate (CAGR), and startup costs for common business types within the healthcare industry. Keep in mind that costs can vary considerably, depending on how you set up your business and where you are located.
Business type
Market size
CAGR (Next 8-10 years)
Average startup cost
Medical Billing Outsourcing
11.1 billion
12% (2022-2030)
$12,272
Primary Care Physician
260 billion
3.2%
$70,000-$100,000
Home Health
336 billion
7.93%
Private Pay: $40,000 to $80,000. Licensed Home Health non-Medicare agency: $60,000 to $100,000. Medicare Certified agency: $150,000 to $350,000
Massage Therapy
54.6 billion
8.6% (2022-2032)
$18,308
Medical Transcription
19.8 billion
6.1%
$2000-$10,000
Medical Equipment
59.7 billion
5.7%
$13,936
Nurse Concierge Service
547.8 billion
9.2%
$18,308
Infusion Services
4.6 billion
7.3%
$6000-$20,000
Assisted Living
467 billion
5.9%
Varies based on size and state requirements
Independent Retail Pharmacy
1009 billion
4.8%
$500,000
Medical Waste Handling
21 billion
5.4
$19,267
Sources Below
Healthcare business ideas.
24 healthcare business ideas.
Read on to learn more about individual healthcare business ideas.
At the height of the COVID-19 pandemic, telehealth services rose to the forefront. Now, although many healthcare practices have returned to seeing patients in person, at least 37% of U.S. adults continue to use telehealth services. This is where your telehealth software solution could come in.
An app or software that enhances the telehealth experience is always welcome in the market. This may include tools that allow healthcare providers, such as doctors and nurse practitioners, to monitor their patients whom they are serving remotely or even virtual reality telehealth solutions.
2. Medical equipment rental and maintenance service.
Medical equipment is expensive. Renting can be a cost-effective way for some families to get a piece of medical equipment their loved one needs. With a medical equipment rental service, you could start to fill this gap, connecting patients in need with the right devices. In addition to renting equipment, your business may also provide certified technicians and engineers to maintain the equipment and carry out repairs.
3. Nurse concierge service.
If you’re an experienced nurse who is looking for a change of scenery beyond bedside nursing, you could consider concierge nursing. Concierge nursing is private nursing and it can span a variety of patient types. For example, if you have pediatric nursing experience, your concierge nurse business could focus on caring for children. Other nurse concierge services specialize in providing care services for high-income clientele.
With a host of niches to be filled with a concierge nursing business, your possibilities are endless.
4. Medical staffing agency.
In the U.S., it can take up to 90 days to fill a vacant registered nurse role. Meanwhile, many hospitals are understaffed and need talent quickly to fill the need. Medical staffing agencies act as matchmakers between professional medical professionals and the health organizations that need them.
They can be critical in shortening this long timeline and create a win-win scenario for both sides. The medical professional avoids the burden of applying with 10 or 15 employers to find the perfect role. Once they apply with a medical staffing agency, the agency does the work of finding roles to suit the professional’s needs. In turn, the hospital organization benefits by gaining access to vetted professionals and filling staff shortages faster.
5. Sole practice business.
If you’re a licensed healthcare professional who can practice independently, starting a sole practice such as your own medical, dental, optometry, chiropractic, or physical therapy practice may be the most logical business for you to start.
6. Medical billing service.
Effective billing is the lifeblood of any health practice. While bigger institutions may have their own internal billing departments, smaller healthcare businesses and medical practices often depend heavily on medical billing services to keep the lights on. If you’re thinking about starting a medical billing services company, you will always find high demand in the marketplace.
7. Home healthcare agency/homecare agency.
Medical home health agencies offer nursing care to seniors, people recovering from surgery or a severe illness, or for people who are on hospice/end-of-life care. Home healthcare professionals may also come into private homes to help disabled adults with their long-term medical needs. Non-medical home care agencies help a wide range of clients (including the elderly and disabled adults) with activities of daily living, such as bathing, dressing up, and companion care.
8. Massage therapy
As a massage therapist, you can break out on your own and start a business. Depending on where you live, this might mean investing in proper licensing. In most jurisdictions, you cannot start a massage therapy business unless you are a licensed massage therapist. Regardless, many massage therapists are able to find high demand for their services and make a strong income serving their clients.
9. Outpatient substance abuse management.
For people trying to overcome an addiction to drugs or alcohol, getting the right medications, counseling, and tools during their recovery period is crucial. For those who may want or need to do this outside of a residential recovery center, outpatient addiction and management recovery services are crucial. If you have training and specializations in mental health and substance abuse care, you could start such a business. This can be done from an office or even remotely.
10. Medical supply courier services.
Medical supply courier services (sometimes called health logistics services) deliver medical equipment to homes, hospitals, and medical practices. Running a medical supply courier service requires that you know how to handle and safely transport medical equipment and supplies. In some states, starting a medical supply courier service will require that you have a pharmacy degree.
11. Drug testing business.
The U.S. Department of Transportation requires certain safety-sensitive employees to undergo drug testing. Moreover, many public and private companies require drug testing as part of their pre-employment and onboarding processes. In addition, drug testing may also be needed in certain legal cases. All of this points to a massive market for drug testing services and a potentially lucrative business idea for nurses (RNs and LPNs) and doctors.
12. Infusion services
For patients who have been discharged from the hospital but still need medications to be infused into their bodies via an intravenous (IV) line while they recover at home, infusion service businesses are critical.
Infusion service companies are sometimes based in an office, where patients come in weekly or monthly to receive their medication. Others are run via a mobile infusion service that attends to people in their homes.
13. Medical apparel sales.
Whether it’s a pair of scrubs or a white coat or comfy shoes for medical professionals who stand and walk all day, medical professionals need their uniforms. You could manufacture your own scrubs or it is possible for you to wholesale and put your private label on medical apparel.
14. Medical waste handling.
When it comes to the handling of medical waste, like used syringes, needles, tubing, and soiled wound dressings, federal and state regulations abound. To stay on the right side of these regulations, hospitals and practices of every size need reliable medical waste management services, opening yet another potentially profitable business opportunity.
15. Medical laundry services.
Besides handling medical waste, hospitals often need professional laundering services to take care of bedding, hospital gowns, and hospital-provided attire like surgical scrubs. Your medical laundry services business could meet this need and provide a solid income at the same time.
16. Assisted-living services.
Assisted-living services provide residential services to seniors. Seniors who live in an assisted living facility may do a lot for themselves, but still need help with daily living activities like bathing, grooming, and mobility. Assisted living services may also provide health-related services like nursing care and medication assistance.
17. Senior day care center.
Instead of opting for an assisted living community or senior community, more and more elders are choosing to age in place, living at home for the rest of their remaining years. Other seniors may also live with adult children or caregivers who have to go to work during the day.
To stay safe and to have people to socialize with during the day, these elders may opt to go to a senior daycare center, where they can receive professional care and assistance with their medications, as well as participate in social activities.
18. Medical transcription service.
Medical transcriptionists transcribe recordings made by doctors, nurses, and other medical workers into legible medical records, including notes from patient examinations and discharge reports. They might also review documents for errors, so that facilities can keep accurate records.
While some hospitals and medical practices may have their own in-house medical transcriptionists, there are other organizations that rely on external medical transcription services.
19. Legal nurse consulting.
Legal nurse consultants are registered nurses who have further training that allows them to be assets to attorneys and the legal system. For instance, when there is a malpractice, worker’s compensation, or personal injury lawsuit, attorneys may depend on a legal nurse consultant’s background in the healthcare system and medical science to help build their case. As a legal nurse consultant, you would operate independently. If you have extensive experience in a particular nursing field (e.g., oncology), starting your own legal nurse consultancy that serves that vertical can be a great business.
20. Hydration therapy business.
This business can be similar to the infusion services idea mentioned above. But while infusion services often focus on delivering medication for health conditions, hydration therapy is a simple treatment that delivers fluids and electrolytes (and sometimes, medication), directly into a person’s bloodstream through an IV line.
In most states in the U.S., licensed healthcare professionals, including medical doctors, nurse practitioners, and nurses, can start a hydration therapy business.
21. In-home physical and occupational therapy services.
Your in-home physical therapy and occupational therapy business could help seniors, people with disabilities, or individuals recovering from an illness or accident. Like some of the private care businesses mentioned already, this kind of business allows patients to receive one-to-one care in the comfort of their homes.
22. Autism support services.
Autism support service businesses can provide personal or group support services to individuals on the autism spectrum. Autism support businesses may provide a host of services, including applied behavioral therapy, speech, and occupational therapy services.
23. Retail pharmacy store.
Don’t let big chain pharmacy stores intimidate you. If you have the proper education and licensing to be a pharmacist, you can still make money as an independent pharmacy store owner.
24. Non-emergency medical transportation.
Non-emergency medical transportation (NEMT) services help patients get to their healthcare appointments on time. While the guidelines differ from state to state for starting your NEMT business, it is likely you will need basic training in CPR and first aid. If your NEMT business transports people who use wheelchairs, you might also need special training on how to securely transport these individuals.
Execute your healthcare business idea today.
While several of these businesses require you to have a specific healthcare degree in order to start, there are others on this list that don’t require degrees. And in almost each case, instead of reinventing the wheel, you will be starting a tried-and-tested business.
Forty-one percent of healthcare businesses fail by their fifth year. There are various reasons why this may happen. But often, a lack of funding to support the business is one of those reasons. Learn how you could get the money you need to fund your healthcare practice or get the medical equipment you need to start today.
Crowdfunding is a term used to describe individuals coming together to support—and directly fund—projects by other individuals and organizations. For small businesses and startups, crowdfunding can be an engine for job creation and development.
Compared to other methods of raising money, crowdfunding is very new, but has nonetheless already provided many businesses with the capital they needed to jumpstart and expedite their growth and potential.
What is crowdfunding?
Crowdfunding is a term used to describe individuals coming together to support—and directly fund—projects by other individuals and organizations.
Types of crowdfunding.
Types of crowdfunding.
Prospective and established small business owners can use crowdfunding platforms to jumpstart their next project, and there are four models of crowdfunding they employ to do so:
Donations, philanthropy and sponsorship - Like it sounds, this form of crowdfunding involves people donating money for nothing in return.
Lending - Also known as peer-to-peer lending, this model involves individuals lending a certain amount of money to be repaid with interest.
Equity-based crowdfunding - The company sells shares of the company.
Rewards-based crowdfunding - Anyone who donates money receives a reward, such as a discounted product or swag.
Anyone with questions about crowdfunding should first decide what they’re willing to give (if anything) and how they intend to excite potential donors to invest in their company.
How crowdfunding works.
How does crowdfunding work for businesses?
For a business that wants to use crowdfunding to raise capital, the first step is to decide what type of crowdfunding it wants to pursue. All types are available to small businesses, but there are benefits and drawbacks to each.
Businesses that want to avoid paying additional taxes may want to steer clear of a rewards-based crowdfunding campaign. While the reward is given in exchange for a "donation," to the IRS, it is a sales transaction and is considered taxable income.
To start a crowdfunding campaign, you’ll need to choose a crowdfunding platform. Crowdfunding platforms revolve around a specific type of crowdfunding. They're all a little different and are often aimed at specific demographics.
Once you've decided on the type of crowdfunding campaign you want to run, you will need to create a campaign page that explains what you need the money for and how you intend to spend it. Successful campaigns often provide videos to help motivate and excite donors.
Do crowdfunding sites charge money?
Yes, they do. The amount varies with each site, but it’s not uncommon for platforms to charge 5% or more of the total funds raised, plus a transaction fee for each donation. If you have an exact amount you need for your small business, you’ll need to calculate the fees when determining how much you need to raise.
Can crowdfunding money be used for anything?
Any money raised through crowdfunding must be used for the exact purpose stated to the public. Therefore, if you state that you need the money to cover manufacturing costs, you cannot turn around and use any funds raised to purchase stock or real estate.
Crowdfunding pros & cons.
The pros and cons of crowdfunding.
Consider the following pros and cons when considering using crowdfunding to fund your business.
Pros:
Serves as a marketing tool - Crowdfunding can be a company’s first exposure to the world and can therefore be used as a means to advertise to the general public
Provides a forum for feedback on the project - It’s common for investors to provide needed feedback on a service or product they have invested in; this feedback may be essential for your company’s long term success in the market
Fees are minimal - Crowdfunding platforms take only a small percentage of the funds you raise from investors
Inexpensive way to raise funds - No traveling is needed to speak with investors, nor does it cost that much to establish. You can spend money to launch and run a campaign, but the amount you spend is up to you.
Can make it easy to communicate to your investors -With all of your investors in one spot, communicating to them is a lot easier.
May not have to give up equity depending on which type of crowdfunding campaign you choose -Equity crowdfunding is just one type of crowdfunding. Other methods don’t require selling portions of your company, which means you will be able to keep more of the profits for yourself.
Is a valid alternative to bootstrapping and debt -Not too long ago companies had very few options when it came to raising money, but crowdfunding has changed that.
Can create excitement over your project or product -Smart companies realize that raising money through a crowdfunding campaign is only one benefit—the other is generating buzz and excitement pre-launch.
Provides partial proof of concept - While a successful crowdfunding campaign is not complete proof of concept, it is still a very good sign. Full proof of concept is only established once the product or service is launched and is financially successful
Cons:
Often limited on amount of funding you can raise -Companies can not raise more than $5 million in a 12-month period
Exposes project to the public, risking copycats - it’s not uncommon for companies to avoid crowdfunding altogether if they are currently unable to afford a patent because some companies use crowdfunding sites to get ideas for new products
Funds may be subject to securities regulation - Companies selling securities via crowdfunding must comply with all federal security laws, regardless of the platform they choose
Takes a lot of work to find investors -It’s unlikely investors will find your page on their own and give you money. Successful campaigns often involve full-blown social media activity to attract attention.
Takes a lot of work to create a campaign - Making a donation page, shooting a video, and filling out all of the appropriate paperwork takes more time than you may be willing or able to give.
Dwindled influence of the crowdfunding model - Thanks to too many scammers, some investors have grown weary of crowdfunding altogether.
Does not necessarily show proof of concept - There are many examples of "successful" campaigns that did not translate to the real world of business.
Can be expensive to get going - If you contract your campaign’s creation, you may end up having to spend more than you want.
Too much competition on crowdfunding sites - Just creating a campaign is unlikely to be enough, and it can take a lot of work to have your project stand.
Crowdfunding sites
Crowdfunding sites
Popular crowdfunding sites include:
Indiegogo
Classy
Seedinvest
FundRazr
Fundly
Startengine
GoFundMe
Mighty Cause
Kickstarter
Fundable
WeFunder
EquityNet
Patreon
To choose the best crowdfunding site, decide which type of campaign you want to create and compare the fees charged on each. It’s rare for investors to scroll through campaigns. Instead, many learn about investment opportunities on forums and social media. Therefore, don’t worry too much about where you launch your campaign because everything comes down to how it’s promoted.
Crowdfunding tips
Tips for a successful crowdfunding campaign.
Like any other type of business financing, crowdfunding requires strategic thought, upfront work and a commitment to reach out to potential investors. Consider the following tips when planning your crowdfunding project.
Choose the right site for you - Some sites occupy a specific niche, such as arts or nonprofits. Find the one that fits your business and your ideal donor demographic. You can run multiple campaigns at the same time through different sites, but you will want to consider how.
Set a realistic target and time limit - Asking for too much or too little can affect your project’s chances of success.
Create a campaign video - A personal touch—which video excels at— can pay off. In fact, projects with videos outperform those without by 125%.
Post regular campaign updates - Keep supporters engaged to maintain momentum. The more buzz and excitement you can generate and maintain for your project, the more likely your donors will recommend your project to their peers. If done correctly, they may even promote your campaign for you.
Connect with friends and family first - Begin with word of mouth among your inner circle, then promote your campaign on social media. Some donors are more likely to contribute if they feel the campaign is already in motion and gaining traction.
Offer rewards - Supporters may be more eager to back you if you offer a small incentive. Just remember that doing a rewards-based crowdfunding campaign means you will pay tax on any money received.
Crowdfunding is an exciting new way to raise money for your small business, and there are a lot of opportunities to be had. However, you may still require additional capital after your campaign ends even if it is successful.
With the rise of the so-called “unicorn startup,” it can be easy to get caught up in the myth that, to start a successful new business, one must be young, have millions of dollars of funding, and plan to grow the business to be the size of Facebook or Amazon. The number of startups funded by venture capital has risen over the years. However, most small businesses start without external investment, and the majority of startup founders are middle-aged.
Failure rates
Startup failure rate statistics.
Startup companies are often considered the backbone of economic growth and innovation, with the potential to disrupt traditional industries and create new markets. However, the reality is that starting a business is risky with no guarantee of success. In fact, statistics show that the majority of startups fail within the first few years of operation.
Starting a new business is a risky venture. This underscores the importance of careful planning, market research, and a solid business strategy to ensure a greater chance of success.
While surviving the first year is crucial, it is not enough for long-term success. This highlights the need for sustained growth, innovation, and adaptability to keep a business thriving over the long term.
Oregon, South Dakota, Mississippi, California, and Massachusetts have the highest five-year survival rates of 55% or more. Missouri has the highest five-year failure rate at 60.5%.
Location can be a significant factor in a startup's success or failure. This may be due to a variety of factors, such as a less-supportive business environment, lower access to capital or talent, or other systemic barriers.
Startup challenges
Startup challenges statistics.
Starting a new business is an exciting and rewarding experience, but it is also a daunting task that comes with a host of challenges. So, what is standing in the way of startups’ success? From securing funding to developing a viable product or service, entrepreneurs face numerous obstacles that can make or break their business.
41% of small business owners state their No. 1 challenge is related to the economy and inflation, with another 14% dealing with other financial concerns.
This highlights the need for small businesses to carefully monitor economic conditions, manage cash flow effectively, and seek out resources and support to overcome financial challenges.
56% of small businesses state that large corporations have a negative impact on growth opportunities for their business.
This may be due to factors such as competition for customers or talent. It may also be the ability of large corporations to invest in technology and marketing that small businesses may not be able to match. As such, small businesses may need to focus on developing unique value propositions, building strong customer relationships, and seeking out niche markets where they can excel.
52% of businesses state access to capital would have had a significant impact in their ability to start a successful business.
This highlights the importance of a robust and accessible financing ecosystem, including traditional loans, venture capital, and alternative sources like crowdfunding.
Startup funding
Startup funding statistics.
Starting and growing a business requires capital, and finding sources of funding is often a top priority for entrepreneurs. From traditional bank loans to venture capital investments, there are numerous options available to businesses seeking funding, but obtaining funding can be a challenge for most early-stage startups. In fact, the majority of businesses are started with personal funds.
54% of SMB owners started their business with personal funds. (Source: Lendio)
43% of small business owners needed less than $10,000 to fund their startup. (Source: Lendio)
Only 3% of startups are funded through venture capital firms. (Source: Lendio)
Colorado, Utah, and Minnesota have the highest access to small business loans. (Source: Lendio)
Massachusetts, California, and New York have the highest amount of venture capital disbursed per $1 million of GDP. (Source: Lendio)
In 2021, early-stage funding totaled $201 billion. (Source: Crunchbase)
Global venture funding was more than 10x higher in 2021 than in 2012. (Source: Crunchbase)
Overall, Kickstarter has successfully funded more than 200,000 projects totaling $6.5 billion in successful funding. (Source: Kickstarter)
40% of Kickstarter projects are successfully funded. (Source: Kickstarter)
66% of Kickstarter startups raise $10,000 or less. (Source: Kickstarter)
77% of tech Kickstarters fail. (Source: Kickstarter)
Unicorn startups
Unicorn startup statistics.
The term "unicorn" is used to describe privately-held startups with a valuation of $1 billion or more. These companies are often seen as the darlings of the tech industry, with the potential to disrupt traditional markets and generate massive returns for investors. While unicorn startups represent only a small fraction of all startups, their impact on the economy and the technology landscape is significant.
There are 1,206 unicorn startups worldwide valued at ~$3791 billion dollars. (Source: CB insights)
Bytedance, an artificial intelligence company in China and parent company of TikTok, has the highest valuation at $140B. (Source: CB insights)
SpaceX has the second-highest valuation at $127B. (Source: CB insights)
Startup demographics
Startup demographic statistics.
Entrepreneurship is often seen as a means of achieving the American dream, with the potential to create wealth and opportunity for individuals and communities. However, not all entrepreneurs have the same opportunities to start and grow their businesses. In fact, access to resources and support can vary significantly based on a variety of demographic factors, including age, race, gender, and education.
Age
Contrary to popular belief, the majority of startup founders are middle-aged, and studies have found that older founders may have a higher chance of success than younger founders.
On average, entrepreneurs are 42 years old when they found their company. (Source: HBR)
In software startups, the average age is slightly younger at 40. (Source: HBR)
In oil and gas and biotechnology companies, the average age is around 47. (Source: HBR)
Entrepreneurs' success rates increase with age, peaking in the mid-50s. (Source: HBR)
Gender
Recent statistics highlight both the progress made and the challenges that remain for women entrepreneurs. On the positive side, startups with female founders are shown to perform better. However, there are still significant disparities in funding and representation. Female business owners tend to ask for less funding than men, and they often face more difficulty securing loans or lines of credit.
Startups with a female founder perform 63% better than startups that have all-male founding teams. (Source: First Round)
The proportion of female co-founded companies has doubled from 10% in 2009 to 20% in 2019. (Source: Crunchbase)
On average, female business owners ask for less funding, about $35,000 less than their male counterparts.
Women business owners make multiple attempts to secure bank loans or lines of credit, and 40% of women business owners applying for a loan never succeed in obtaining funding.
Women represented just 6.4% of the CEOs on the most recent Fortune 500 list—and that was the highest female-male ratio in the list’s 63-year history.
In 2018, Black-owned businesses represented 9.9% of all businesses, while Hispanic-owned businesses represented 12.2%. However, these businesses tended to be smaller and less profitable than non-minority-owned businesses. (Source: Census Bureau)
Only 1% of venture-funded startup founders were Black and just 1.8% were Hispanic. (Source: Stanford)
The National Bureau of Economic Research found that Black-owned businesses were more likely to be denied loans than white-owned businesses, even when controlling for creditworthiness and other factors. (Source: National Bureau of Economic Research)
These startup statistics demonstrate the challenges and opportunities that come with starting and growing a business. While the failure rate of startups can be discouraging, it is important to remember that entrepreneurship plays a vital role in driving innovation and economic growth.
Additionally, it is crucial to acknowledge the systemic barriers that exist in the entrepreneurial ecosystem and work towards creating a more inclusive and equitable environment for all aspiring entrepreneurs. As we continue to track and analyze startup statistics, let us strive to create a world where anyone with an idea and the drive to succeed has the opportunity to do so.
Lendio is committed to helping small business owners survive and thrive by making funding more accessible to small business owners. Learn more about small business loan options.
Social media can be a game-changer for small businesses—if you know how to use it. This guide covers everything from choosing the right platforms to creating engaging content and growing your audience. With actionable tips and proven strategies, you’ll learn how to turn likes and follows into real business results.
Email marketing is one of the most powerful tools for small businesses—when done right. This guide covers everything from building your email list to crafting engaging campaigns that drive results. With actionable tips and step-by-step guidance, you’ll learn how to connect with your audience, boost sales, and grow your business through email.
Digital marketing doesn’t have to be overwhelming. This guide simplifies the essentials, from building an online presence to leveraging social media, email, and SEO. Packed with practical tips and step-by-step strategies, it’s designed to help small businesses succeed in the digital world without a big budget or a full marketing team.
Let’s face it. There’s a lot of bad marketing advice out there. Or great advice that’s far too in-depth for a small business owner who isn’t looking to start a full-time career in marketing. We created this guide to cut through the clutter and provide you with principles, direction and the applicable step-by-step how-tos to get the job done.
Your brand is more than just a logo—it’s the heart of your business. This guide walks you through the essentials of small business branding, from defining your identity and crafting your message to building a strong, lasting impression. With clear steps and actionable advice, you’ll create a brand that resonates with customers and sets your business apart.
Hiring for small businesses doesn’t have to be complicated. Your business can achieve success when you understand relevant legal requirements and find the right job candidates for your open positions. This comprehensive guide covers everything from finding the right employees to hire to employee training and development.
Your best customers are your biggest growth opportunity. This guide breaks down customer marketing strategies tailored for small businesses, helping you turn happy customers into loyal advocates. From building relationships to leveraging referrals, discover actionable steps to maximize lifetime value and drive sustainable growth.
From selecting the right franchise opportunity to navigating the financial aspects, this step-by-step resource equips aspiring entrepreneurs with the knowledge and strategies needed to thrive in the world of franchising.
Have a business idea but not sure where to start? Our comprehensive guide to starting a business has everything you need to know. From legal requirements to market research, we’ve got you covered.
Running and growing a business is no easy feat. Our guide to running a business has everything you need to know to keep things running smoothly. From managing employees to marketing your business, we’ve got you covered.
Take your business to the next level with our Accounting Guide. Master the language of numbers, understand financial statements, and make informed decisions based on accurate financial data. Discover the power of sound financial management.
Master the art of cash flow management with our comprehensive guide. Learn strategies to optimize your cash flow, forecast revenue and expenses, and keep your business financially stable. Take control of your finances and achieve long-term success.
Streamline your billing process with our Invoicing Guide. Learn how to create professional invoices, manage client payments, and maintain a healthy cash flow for your business. Get paid faster and efficiently track your revenue.
A great marketing strategy is the foundation of small business success. This guide takes you step-by-step through defining your goals, identifying your audience, and choosing the right channels. With practical tips and clear direction, you’ll build a tailored strategy that drives growth and delivers measurable results.
Navigate the complex world of taxes with our Tax Preparation Guide. From understanding tax obligations to maximizing deductions and filing quarterly taxes, we’ll help you stay compliant and minimize your tax burden. Unlock the secrets of tax success for your business.
Stay on top of your business finances with our Bookkeeping Guide. Learn the art of tracking income and expenses, maintaining financial records, and keeping your books in order. Unlock financial success with our expert tips.
Need help securing funding for your business? Our business loans guide simplifies the financing process, explains key terms, and walks you through your loan options.
