Start-up finance for your physiotherapy practice

Every start-up faces the same funding challenge. You need finance to launch your practice and pay for the premises, equipment, marketing, and working capital until you have built up a patient list.

It means some major costs. But traditional lenders are only interested in established businesses with years of audited accounts.

They can’t help you. Even the new breed of online business lenders usually want online accounts and VAT returns before they will consider an application.

But there are ways to raise the funding you need, and lenders who can be sympathetic. At Rangewell, we can show you all the options, and we have a 5-step plan to help you to secure the finance you need to set up your own physiotherapy practice.

Step 1

Your first step is to list the real costs your new business will present. You need costings for all your equipment, your premises and your operating costs.

Step 2

Ensure that your own personal financial situation has no issues like outstanding debts, CCJs or other negatives. You may need to provide a personal guarantee to secure the funding you need.

Step 3

Prepare a business plan. Show how your physiotherapy business will work, and how it will generate funds, with a forecast of profit and loss and your cash flow. This should help you see how much funding you need to raise.

Step 4

Now contact us. We’ll help you use your business plan to secure the funding you need. Because we work across the entire UK lending market, we know which lenders to approach - which are most likely to offer the deal you want for your practice.

Step 5

We use our unique online system to ensure you can secure the funds you want at the most competitive rate.

The types of funding to consider for your physiotherapy practice

Premises will be a major cost for your new clinic.

Location, size and facilities all need to be right for your patients, and getting them all right will cost money. Buying with a Commercial Mortgage may cut costs compared with leasing. Commercial Mortgages work much like a residential mortgage and can be used to help you buy a suitable freehold property - or even an existing physiotherapy practice. You can also find specialised support for refurbishing a physiotherapists.

Commercial Property Finance is arranged on an individual basis. Rates and terms will be agreed based on your business plans.

Commercial Loans for your physiotherapy practice

There are two types of Commercial Loan - Secured and Unsecured - which could provide the funding you need.

Secured Loans must be supported by security, such as your home, that the lender would take and sell if you became unable to make repayments. This reduces the risk to lenders and allows them to reduce the cost of finance to you, with rates that can be as low as 2% above base rate, and ten or more years to repay.

Unsecured Business Loans are a straightforward way of borrowing and operate much like a personal loan. The loan is repaid in monthly or quarterly instalments over an agreed term under 5 years. Decisions can be fast but you will need to provide a personal guarantee meaning that you will become personally liable for the debt if your business was unable to pay.

Asset Finance for the physiotherapy equipment you need

Asset Finance covers a range of funding solutions designed to let you spread the cost of physio equipment:

Hire Purchase

Hire Purchase lets you acquire equipment straight away, with a single deposit payment. It then lets you spread the costs in regular monthly instalments over up to 5 years. At the end of this term, you own the asset outright, making it ideal for items which have a high cost and a relatively long life.

Leasing

Leasing works much like a rental agreement. It lets you use the equipment without having to buy it, with a payment each month to the finance company. For technical equipment - such as IT which could go out of date, leasing can be ideal, as it can be easy to update when a better model becomes available. Leasing can also include maintenance agreements - meaning that keeping your equipment in perfect condition remains the responsibility of the lender - helping you avoid any unexpected costs.

Getting the help you need to set up your physiotherapy business from Rangewell

Coming to Rangewell means getting a team of financial experts working for you and your new practice.

We can discuss your objectives, point out the challenges and the opportunities and help find answers that are right for you.

We can help you with financial solutions that can scale to fit your business and find the most competitive rates for all types of finance, including Professional Loans, Unsecured and Secured Loans, Invoice Finance, Asset Finance, Merchant Cash Advance, Commercial Mortgages, Growth Finance, Goodwill Loans for physiotherapists and more.

Setting up your physiotherapy practice may mean a range of funding is required. We can provide Jigsaw Finance for your physiotherapy practice - a bespoke package made up of several types of funding. IT can mean a higher level of funding that could be provided by a single finance option - and reduce costs.

To find out more about setting up any type of funding for physiotherapists simply call us. Our experts are ready to help.