What are the financial planning issues you need to keep in mind when cold-starting a practice?
I recently joined Erich Mattei of Akrinos on their Cold-Start Corner’s Expert Series, talking all about financial planning for cold-start optometry practices.
In Part 1 in this 3-Part series, I talk about financial issues to plan for when just starting the cold-start process. We dive into:
- How critical planning for cash flow, debt, and savings is to launching a new practice. Your business will only go as far as you’re able to pay your bills, and you need to give yourself a long enough runway to get the cold-start off the ground.
- Preparing for practice lending
- Choosing a business entity
- And more!
Enjoy the video, reach out to us with questions, and don’t forget to watch Part 2! You can also click here to download the Cold-Start Cash Flow Analysis spreadsheet mentioned in the video.
I write more about this in my blog post, 3 Factors That Can Make or Break Your Optometry Cold-Start . Want to talk about the financial issues on your mind and see how we can help? Let’s chat! Schedule a no-commitment Introductory Call today.
Optometry Wealth Advisors LLC