The Complete Beginners Guide for Alternative Health Business

So you want to start an alternative health business, but you don’t know where to start? No problem! At Wellshare, we love supporting practitioners at all stages grow their health business - including beginners. We’ve put together this guide to help you start your alternative health business from the very beginning!

1. Research

You probably expected this one. I mean, that’s why you’re reading this article right? You’re off to a good start. 

Research is vital before you start any business. Why? Good research prepares you and helps you equip yourself to give your business the best chance at success. Take your time to learn about what starting your own business will involve. We’ve outlined a few things below that it’s important to ensure you’ve researched before you open your doors. 

• Is there a need for your business? If someone else has already started your business, consider how you can do it differently (better) than them. Will you be cheaper, or offer more/different services? Know your competition well. It will help you adapt your business and product more easily.
• Who is your ideal client? Thinking about who you want to attract to your business early on will help later. Who your clients are dictates many of the business decisions you’ll need to make later, when it comes to marketing, location and physical presentation of your services. 
• What permits and qualifications will you need? Look into the relevant qualifications and permits you might need to start your business. Don’t be caught out, learn about these early and obtain the relevant permits and qualifications needed. These can vary depending on your location, so always ensure you check with the authorities in your area. 
• What finances will you need to start, run and succeed in your business? Take a realistic look at your finances. You may need a loan to start up, or to consider alternative ways of operating until you receive financial stability. Create a plan of how you’ll manage the cost of operating and if necessary, seek financial advice. Think about tax and other hidden fees that may be associated with operating. Do this early and avoid getting caught out later. It’s a good idea to create some financial projections for your business, to give you an idea of how to price your products or services. 
• What insurances do you need? How will you do your accounting? Thinking about these questions early is helpful in preparing your business. These are the considerations people often leave until last minute or don’t worry about. If you do that, you might end up having to make a decision under pressure. Which might mean you end up with something you’re not quite happy with. 
• What general location will you run your business from? This doesn’t have to be the actual location, but get an idea of suburbs that might be suitable for you to set up your allied health business from. If you decide you want to operate out of your home, or another non-traditional working space (co-working anyone?) think about what that would involve. 

It may be worthwhile in this stage to consider talking with someone who has experience running a successful business in your industry. Ask questions, and learn from their successes and mistakes. Remember, even the most successful businesses had to start somewhere. Don’t be afraid to ask for help. 

2. Business Plan 

Use your research to develop a business plan. This is a document that will be helpful for you to refer. It’s a way for you to formalise how you’re going to go about your business. It often includes strategies for marketing, pricing structures and measurable ways you can track the success of your business. 

Often, this is the type of document banks want to see before they give you a loan. It shows that you’ve researched and that you’re serious about succeeding in your business. 

It can also just be helpful to get ideas out of your head and onto paper. 


3. Business Name and Strategy

Your business name is important. It’s what people will associate with your services on an ongoing basis. Try not to put too much pressure on yourself in this stage. It may feel scary, but it’s exciting too!

Your business strategy refers to the type of ‘brand’ you want to create around your business. This involves thinking about lots of the visual elements, as well as the style of written communication of your business. Logos, colour, ‘tone’. Deciding this now will make for more effective marketing later on. 

Here are a few things to consider when it comes to naming your business:

• What are the trends in business names in your industry? How will your business stand out?
•  Is there a domain available with that business name. Preferably with a .com 

A few things to consider when it comes to your brand strategy:

• What is the personality of your business? (Take into consideration what your ideal client may be looking for) How can the colours, logo design etc. reflect this. 
• Maintain consistency - this leads to brand recognition and visibility.

4. Permit Time!

It’s time to get your permits, insurance and finances in order. Some businesses might need to apply for a loan or fundraise to get up and running. 

Get your financials, insurances, permits and qualifications in order so that all the administrative duties of beginning are taken care of. 

5. Location, Location, Location

Your location is often vital to your success. Now that all your documents and finances are in order, you’re in a great position to find your location. Great locations often go fast, so it’s good to have everything in order early on in your search. 

Take some time and find the right space for your business. There are a wide range of possibilities for location and rental options. 

• Do you want a long term rental? Once upon a time, leases were of a minimum of six months to a year. While this is still the case, you also have other options. Rental therapy rooms are available for hire for the day, or even by the hour. This can be the perfect solution for businesses just starting out. Lower overheads, and greater flexibility. 
• Have you considered Wellshare? I mean, we did make this guide - we’re gonna put a plug for ourselves here somewhere. Wellshare is a health and wellness co-working space. We’ve got a wide range of therapy rooms for lease. Book a tour today. 

6. Staffing

Every business will vary with the amount of staffing it requires. If you’re venturing out on your own - you can skip this step! But if you’re not, now is the time to organise your staffing. Consider what roles you don’t want to perform yourself, and what your budget can afford.

• Do you need a receptionist? 
  
• Can you outsource your social media management?
• Bookkeeping?

7. Plan Your Launch

So you’ve got everything now, except the clients. Start your business off well by planning how you will lead up to the launch of your business. Utilise social media and concentrate your marketing efforts around this date. Start your business off well, with a launch. 

What does this mean? Build excitement in people around the time you’ll be opening. A month to two weeks beforehand is usually a good time frame. People are often curious about new businesses, so harness that curiosity and gain some clients. Create count downs to open day, or your website launch on social media. Get people talking. 

Consider how you might incentivise clients to try your product or services around the time of your business launch. An introductory offer is often a great way to do this. 

8. Take off

You’ve done all the prep work - now it’s time to get to business! Remember to take a moment and appreciate this moment. You’ve worked hard to get here.