Start-up Finance for your Podiatry Practice
- Spread the cost of any equipment
- Use the latest technology
- Buy with monthly payments
- Lease with no upfront cost
- Secured and unsecured loans
- Borrow for any purpose
- Predictable monthly repayments
- Tailored to your cashflow
Any funding need
- Deal with overheads
- Pay staff
- Fund marketing - training - development
You may not need sophisticated equipment or a large consulting room - but setting up a successful podiatry clinic practice will demand finance.
Setting up as a podiatrist practice is a big step, but it is entirely possible to succeed with the right support.
Once you have trained, you may be able to work with an existing practitioner. But once you have made the decision to start up your own podiatry practice, you need financial support.
The costs you’ll face setting up a podiatry clinic
You may be able to operate from a room in your home but, if not, premises will be a major cost for your new surgery. You may need to lease a suitable suite. You’ll need equipment - you’ll probably already have the basics, such as your knives and hand tools, but you should expect to provide seating for a waiting area, and a pc and printer. You may also need a website and marketing. And you’ll certainly need to deal with overheads - from your electricity bill to the local business rates.
You need finance to pay for them all before you bring in your first patient. You also need working finance until you have built up a patient list.
You probably can’t call on help from a bank. 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 evidence of a year’s trading, with 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 for start-up funding, plus we have a 5-step plan to help you to secure the finance you need.
The types of funding you might need to start a podiatry business
There are two types of commercial loan - Secured and Unsecured to consider.
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 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 covers a range of funding solutions designed to let you spread the cost of equipment.
- Hire Purchase lets you acquire the equipment you need for your practice, with a single deposit payment followed by 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 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 which could go out of date such as your IT leasing can be ideal.
Government-backed Start-up Loans
Your new podiatry business may be suitable for a Government supported start-up loan. These are designed for individuals who have a viable business plan, but no access to finance. The scheme can provide loans to businesses in every sector.
REAL EXAMPLES OF WHAT WE CAN DO
Find funding to allow a new practice to acquire premises
Help find the most competitive finance to
fundthe first months of a new practice
Source a professional loan for a professional ready to start a practice
Find the most competitive lender for equipment and spread the cost with HP
Help arrange ‘jigsaw’ funding for all aspects of a start-up
Getting the help you need to start your podiatry business from Rangewell
Coming to Rangewell means getting a team of financial experts working for you and your new podiatry practice.
We can discuss your objectives and help find answers that are right for you.
Setting up a practice may mean a range of funding is required. We can help you 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 and more. We can also help source Jigsaw funding - a bespoke package made up of the most appropriate type of funding for each need - reducing your costs overall.
To find out more about setting up the finance you need to set up your podiatry clinic simply call us. Our experts are ready to help.
Helping you build your profits
Funding to suit your plansEvery practice is different, and we can work with you to find financial solutions designed around your particular circumstances.
Take your pick of the lending marketWe understand all types of business finance, and have mapped thousands of products from hundreds of suppliers.
Working with podiatristsOur expert team includes people who have worked with podiatry professionals. They understand the challenges you face, and know the answers.
Jigsaw FinanceYou may need finance with different types of lending for specific purposes. Because we cover the entire business lending market, we can help you find tailored jigsaw funding.
Getting government supportGovernment start-up funding can help provide the investment you need. At Rangewell, we can help you secure it.
Finance that can grow with youHaving flexible funding that can grow with you could help you make the most of the potential of your practice.
Download Rangewell’s free and detailed guide to Finance for Podiatrists
What types of finance are there - which do you need for your private practice or specialist podiatrist clinical practice
How we can provide an additional income stream
Why it's important to find lenders who are familiar with chiropodists and podiatrists, and the podiatric medicine sector
The downsides to finance - and how to avoid them
How to arrange finance - what paperwork do you need?
Do I have to be registered with the Society of Chiropodists` to be able to apply for practice finance?
Key terms explained
Getting the right funding arrangement is essentialThere are many forms of business finance available. Getting the most appropriate type for the business needs of your podiatry clinic is essential to avoid excessive costs.
Your key equipment could be at riskIf you are unable to keep up repayments on a Hire Purchase or lease agreement, the equipment your practice depends on could be could be at risk.
Long-term financial commitmentsYou may not be able to pull out of a finance arrangement once set up.
Our service is...
ImpartialTransparent and independent, treating all lenders equally, finding the best deals.
In-depthEvery type of finance for every type of business from the entire market - over 300 lenders.
In-personSpecialist Finance Experts support you every step of the way.
FreeWe make no charge of any kind when we help you find the loan you need.