How much money do you need?
In my experience I have seen medical staffing agencies start-up capital range from $5,000 to $300,000. Having more money does not guarantee success and having less money does not mean failure.
How much money you will need will depend on many factors. Some of which will depend on if you are planning to rent an office, hire employees or work the business initially yourself.
Take a look at the bottom list, it will give you a better idea as to the cost opening up a medical staffing agency. The list assumes you are opening up an actual office. I have consulted for many medical staffing agencies and I have seen some of the most successful medical staffing agencies start from a room in there garage a cell phone and conduct meetings at Starbucks.
Start-Up Expenses
Rent/deposit $600 -$4,000
Equipment: $2,000-$5000
Software: $500-$2000
Insurance: $100-$4000
Signage $500-$1500
Leashold improvements $0-$3000
Legal/Accounting $200-3000
Owner Salary $3000-$5000
Advertising $500-$2000
Phone/Utilities $200-$700
Misc $200-$500
Can You Start With Less Than $5,000?
Yes you can, it is possible and it has been done. There are many factors to consider when starting a medical staffing agency. You can start for under $5,000 if you decide to it on your own, staff yourself and slowly grow.
I started my medical staffing agency for under $1,000 before I actually secured my first account. It was not difficult to do and many medical facilities require certain key documents to get started. THey usually don't care if you have a office, answering service, marketing material or any expensive start-up costs.
To get started you need just a few basic inexpensive key elements. It does not matter if you are a nurse, ultrasound tech, radiology tech, respiratory tech or any other medical niche.
I found that people make it so difficult to start there medical staffing agency. You can start your medical staffing agency in less than a week and have our first contract before the month is over. It is very easy and the simle steps to get started are fundamental and easy.
You can choose to spend thousands of dollars, you can hundreds of thousands of dollars to franchises or you can simply just start.
Starting your medical staffing agency is a simple ten step process. The process is not difficult and you should not have to pay ten thousand dollars to learn how.
It should not take you more than five days to be up and running. Your medical staffing agency does require certain documents and certain types of insurance, but those are easy to get and do not require much leg work.
If you are in the industry and are looking to provide medical staffing services using you as an independent contractor, you already have half the battle done. Your medical staffing services can be offered in less than five days. I was able to get my entire medical staffing business up and running in less than two days, but it was because I have years of experience working in the medical staffing industry.
Roy Vera is an experienced medical staffing consulting. To learn more visit him at http://www.vismedical.com
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