514. What It Really Costs to Launch a Testing Practice (and How to Pay for It)

Would you rather read the transcript? Click here. In this episode, I break down one of the most common and anxiety-inducing questions I hear: “How much does it actually cost to start a private testing practice?” I walk through the key categories of startup costs—legal setup, clinical readiness, and marketing/admin—and share detailed estimates based on real-world examples. I also highlight hidden or overlooked expenses that can sneak up on you. And if you don’t have $10K–$20K saved up? No problem. I share multiple funding strategies, including 0% APR credit cards, SBA loans, grants, peer lending, and bootstrapping. My goal is to give you clarity and confidence so you can move forward with a smart, grounded plan for launching your practice. Cool Things Mentioned * The Testing Psychologist mastermind groups and business consulting * Beginner Practice Checklist: A step-by-step guide to launching your practice: https://www.thetestingpsychologist.com/wp-content/uploads/2023/12/Beginner-Practice-Checklist.pdf Digital Scoring Platforms * Q-interactive (Pearson): https://www.helloq.com * PARiConnect (PAR): https://www.parinc.com/PARiConnect Low-Cost Website Platforms Squarespace: https://www.squarespace.com Wix: https://www.wix.com WordPress: https://wordpress.com DIY Logo & Branding Tools * Logo.com: https://logo.com * Canva: https://www.canva.com Grants for Entrepreneurs * Amber Grant (for women): https://ambergrantsforwomen.com * NASE Growth Grants: https://www.nase.org/become-a-member/grants-and-scholarships Small Business Loans & Credit Lines * SBA Microloans: https://www.sba.gov/funding-programs/loans/microloans * BlueVine (business lines of credit): https://www.bluevine.com * Fundbox (credit lines): https://fundbox.com Peer-to-Peer Lending Platforms * Kiva: https://www.kiva.org * LendingClub: https://www.lendingclub.com Secure Email & Fax Providers (for HIPAA compliance) * GSuite + Google Workspace with HIPAA BAA: https://workspace.google.com * Paubox: https://www.paubox.com * SRFax: https://www.srfax.com Featured Resources I am honored to partner with two AMAZING companies to help improve your testing pr...

Om Podcasten

Come check it out as Dr. Jeremy Sharp covers everything you need to know to start or grow psychological assessment services in your private practice. We talk about finances, marketing, time management, self-care, technology, and life as a mental health practitioner. Jeremy chats with successful clinicians who share their experiences in testing and private practice to give you straightforward ideas for building thriving assessment services. Dr. Sharp is a Licensed Psychologist specializing in psychological and neuropsychological testing. Over the past seven years, he has grown the Colorado Center for Assessment & Counseling from a solo practice to a multi-clinician clinic with over 1000% revenue increase. http://www.thetestingpsychologist.com