[hen-ui-text variant=”b4″]You may be thinking, “What do I need to do to open my own business as a nurse or nurse practitioner (NP)? How hard is it going to be? What support will I need?”[/hen-ui-text][hen-ui-text variant=”b4”]Opening your own business is not quite like nursing school or your first nursing job. It’s similar in that you will:[/hen-ui-text]

• Still need to put in a lot of work
• (Potentially) pull all-nighters
• Need a great support network

[hen-ui-text variant=”b4″]But like nursing school and that new job: In the end, it’s worth it.[/hen-ui-text][hen-ui-text variant=”b4″]We spoke with business owners Wendy Jules, RN, BSN, and Peggy Roberts, DNP, WHNP-BC, who know a thing or two about nurse entrepreneurship. Both opened their businesses during the COVID-19 pandemic![/hen-ui-text][hen-ui-heading variant=”h2″]8 Pandemic-Proof Steps to Opening Your Healthcare Business[/hen-ui-heading][hen-ui-text variant=”b4″]As registered nurses (RNs), Jules and her cofounder Carla Nelson knew they had the skill set to open a healthcare business. Their education and nursing experiences gave them confidence.[/hen-ui-text][We] just had to take the leap of faith in opening Fleur De Lis Beauty & Esthetics,” Jules says.[hen-ui-text variant=”b4″]Being passionate about the services or products you are offering is key, they say. If your passion doesn’t shine through, your clients won’t be passionate either.[/hen-ui-text][hen-ui-text variant=”b4″]Roberts also notes the importance of taking your time. Due to the pandemic, it took Roberts almost a year to open the doors to Trust Women’s Healthcare. Although this was a long time, starting a business is a huge responsibility. There are many risks involved, and you want to do it right.[/hen-ui-text][hen-ui-text variant=”b4″]”This isn’t a race; it’s a marathon,” Roberts says.[/hen-ui-text][hen-ui-text variant=”b4″]Ready to take the next step? Here are eight essential steps you need to take when opening up a new business.[/hen-ui-text][hen-ui-heading variant=”h3″]1. Know Your ‘Why’[/hen-ui-heading][hen-ui-text variant=”b4″]Although opening a business can be profitable, knowing your ‘why’ is even more important than making money. If you want to have a successful, scalable business, take some time and write down exactly why you want to be a business owner.[/hen-ui-text][hen-ui-text variant=”b4″]For both our nurse entrepreneurs, the ‘why’ behind their businesses hit home in personal ways, including representation, accessibility, and giving back to their communities.[/hen-ui-text][hen-ui-text variant=”b4″]Jules and Nelson noticed a major lack of representation of Black skin care providers in their community. This was when they came up with the idea of opening Fleur De Lis Beauty & Esthetics, a medical spa in Brooklyn, New York.[/hen-ui-text][hen-ui-text variant=”b4″]”Our goal was to provide easy access to corrective skin care,” Jules says. “We also wanted to create a beautiful space where clients can come, relax, and make self-care a priority.”[/hen-ui-text][hen-ui-text variant=”b4″]Roberts penned Trust Women’s Healthcare as a way to give back to her community. After completing her doctoral studies, she was astounded to learn the overwhelming healthcare disparities Black women face in the United States. Black women are 3.5 times more likely to die from complications from pregnancy than white women, prompting a need for advocacy for patients of color.[/hen-ui-text][hen-ui-text variant=”b4″]After seeking other leadership roles and talking to colleagues, Roberts decided opening a women’s health clinic was the best way to give back to her community. She also hopes to decrease women’s health disparities among women of color.[/hen-ui-text][hen-ui-text variant=”b4″]”I always believed if you are not invited to the table, you create your own,” Roberts says.[/hen-ui-text][hen-ui-heading variant=”h3″]2. Have Your Paperwork in Order[/hen-ui-heading][hen-ui-text variant=”b4″]You need paperwork to get your business off the ground. According to Jules, this includes:[/hen-ui-text]

• Choosing a name for your practice
• Figuring out how to structure your business (e.g., limited liability company, sole proprietorship, partnership)
• Getting an Employer Identification Number

[hen-ui-text variant=”b4″]There are many types of business structures you can choose from. First, you should decide which type of business will work best for you and your company.[/hen-ui-text][hen-ui-text variant=”b4″]These business structures have pros and cons, so remember to research to find the best fit for your goals.[/hen-ui-text][hen-ui-heading variant=”h3″]3. Know How You’ll Fund Your Business[/hen-ui-heading][hen-ui-text variant=”b4″]You want to open your nursing business, but how will you fund it? There are many ways to fund your business. You can use the money you’ve saved up, or you can borrow from a bank.[/hen-ui-text][hen-ui-text variant=”b4″]Since Jules and Nelson opened their business during the pandemic, they encountered hurdles while securing funds. Many banks were not willing to support their business.[/hen-ui-text][hen-ui-text variant=”b4″]”We initially relied on our family, friends, and ourselves, emptying out our 401ks to fund the business,” Jules says.[/hen-ui-text][hen-ui-text variant=”b4″]Luckily, they partnered with Carver Bank, the largest African American managed bank in the United States, who helped them navigate the banking system through the pandemic.[/hen-ui-text][hen-ui-text variant=”b4″]To secure funds, it’s important to gather enough information to make informed decisions. This includes:[/hen-ui-text]

• Speaking to family and friends
• Calling several banks to find out which ones will work with you
• Consulting a certified public accountant (CPA)

[hen-ui-text variant=”b4″]Speaking with a CPA can save you a lot of time and prevent mistakes. The benefits of consulting with an accountant can help set up your business successfully, Roberts says.[/hen-ui-text][hen-ui-heading variant=”h3″]4. Speak to a Healthcare Attorney[/hen-ui-heading][hen-ui-text variant=”b4″]When opening a business, you may think all attorneys are created equal. They aren’t. A healthcare business is specialized. Roberts suggests seeking out attorneys who are fully versed in healthcare law.[/hen-ui-text][hen-ui-text variant=”b4″]”Really do your research and interview your attorney,” Roberts advises. This will help with any unforeseeable issues.[/hen-ui-text][hen-ui-text variant=”b4″]Also, make sure to budget for an attorney. They can be expensive. Roberts is based in New York, so her attorney came with a hefty price tag.[/hen-ui-text][Attorneys] can charge anywhere from $200-$1,000 an hour,” Roberts says.[hen-ui-text variant=”b4″]Make sure to do your research before meeting an attorney. Have your questions ready. The more prepared you are, the lower the price tag.[/hen-ui-text][hen-ui-heading variant=”h3″]5. Obtain Certifications Your Practice Requires[/hen-ui-heading][hen-ui-text variant=”b4″]If you want to open a medical spa, getting certifications will allow you to provide various services and attract more clients. Jules suggests getting the certifications your practice is going to require.[/hen-ui-text][hen-ui-text variant=”b4″]”For myself, we decided to do intravenous (IV) hydration, so I undertook certifications in IVs and injectables,” Jules says.[/hen-ui-text][hen-ui-text variant=”b4″]Build as much outside knowledge as you can to bring value to your clients and wealth into your practice.[/hen-ui-text][hen-ui-heading variant=”h3″]6. Understand Your Business Partner’s Role[/hen-ui-heading][hen-ui-text variant=”b4″]Opening up a business can be confusing and emotional if you have a partner. Personalities can clash. That can be draining and take away from your business goals.[/hen-ui-text][hen-ui-text variant=”b4″]Jules and Nelson are sisters, roommates, and business partners. “We saw each other every day,” Jules says.[/hen-ui-text][hen-ui-text variant=”b4″]To combat possible roadblocks, Jules suggests understanding your partner’s business language.[/hen-ui-text][hen-ui-text variant=”b4″]For Jules and her sister-turned-business partner, this meant separating their personal relationship from their business relationship. By doing this, there is less room for role confusion.[/hen-ui-text][hen-ui-text variant=”b4″]”If everyone is doing everything, it’s difficult to keep track of your success or your failures,” Jules says.[/hen-ui-text][hen-ui-heading variant=”h3″]7. Research and Find Resources[/hen-ui-heading][hen-ui-text variant=”b4″]You can’t start a business without doing research. You should use your resources for advice.[/hen-ui-text][hen-ui-text variant=”b4″]If you are an NP, research the practice authority in your state first.[/hen-ui-text][hen-ui-text variant=”b4″]Note that an NP’s scope of practice varies from state to state. Some states have full authority; some have restrictive authority. Be sure to know which level your state offers.[/hen-ui-text][hen-ui-heading variant=”h3″]8. Network, Network, Network[/hen-ui-heading][hen-ui-text variant=”b4″]In the age of social media, finding resources to help guide your path of nurse entrepreneurship shouldn’t be too difficult. Roberts suggests leveraging social media platforms like Instagram or LinkedIn to network and access resources available to you. You can get a lot of information from nurses and NPs who are opening similar businesses, too.[/hen-ui-text][hen-ui-text variant=”b4″]With endless access to advice on social media, it’s important to separate reputable sources from misleading ones.[/hen-ui-text][hen-ui-text variant=”b4″]If you are suspicious, Roberts suggests checking out the website or LinkedIn profile for the businesses or business owner you’re looking to take advice from. Follow them for awhile and see who else they follow. Finally, make a decision based on your findings.[/hen-ui-text][hen-ui-text variant=”b4″]Remember that you have many [hen-ui-link href=”/articles/reasons-to-choose-a-career-in-nursing//”]transferable skills[/hen-ui-link] as a nurse that can lend to successful entrepreneurial adventures. It takes making the first step to get to where you want to be.[/hen-ui-text][hen-ui-text variant=”b4″]Other beneficial resources to support you along the way include:[/hen-ui-text]

• Reaching out to your local Small Business Association
• Attending [hen-ui-link href=”/resources//networking-in-nursing/”]networking events for nurses[/hen-ui-link] and business owners
• [hen-ui-link href=”/resources//taking-advantage-of-nursing-organizations/”]Taking advantage of professional nursing organizations[/hen-ui-link] by becoming a member of a nursing or an NP association

[hen-ui-heading variant=”h2″]Meet Our Contributors[/hen-ui-heading][hen-ui-flex direction=”column” gap=”lg”][hen-ui-expert-bio name=”Peggy Roberts, DNP, WHNP-BC ” img-src=”https://res.cloudinary.com/highereducation/image/upload/e_grayscale,c_fill,h_300,w_300,g_face/v1632845977/NurseJournal.org/Peggy_Roberts_crop.jpg” img-alt=”Peggy Roberts, DNP, WHNP-BC ” layout=”horizontal” background=”white” /][hen-ui-text variant=”b4″ slot=”contentRight” class=”text-base”]Peggy Roberts, DNP, WHNP-BC, is a doctoral-prepared, board-certified New York licensed women’s [hen-ui-link href=”/nurse-practitioner/womens-health/”]health nurse practitioner[/hen-ui-link]. She has extensive experience in preventative medicine for women, high risk pregnancies, and sexual medicine. Roberts’ passion and dedication to providing the utmost care to women has led her to her own practice, [hen-ui-link href=”https://trustwomenshealthcare.com/about-us/” target=”_blank”]Trust Women’s Healthcare[/hen-ui-link], which provides comprehensive and holistic care to women of all ages.[/hen-ui-text][/hen-ui-flex][hen-ui-flex direction=”column” gap=”lg”][hen-ui-expert-bio name=”Wendy Jules, RN, BSN” img-src=”https://res.cloudinary.com/highereducation/image/upload/e_grayscale,c_crop,g_face,h_400,w_400/v1646240851/experts/Wendy_Jules_RN_BSN.png” img-alt=”Wendy Jules, RN, BSN” layout=”horizontal” background=”white” /][hen-ui-text variant=”b4″ slot=”contentRight” class=”text-base”]Wendy Jules is a passionate aesthetic registered nurse and co-owner of [hen-ui-link href=”https://www.fdlbeauty.com”]Fleur De Lis Beauty & Esthetics[/hen-ui-link] nestled right in the heart of Brooklyn, New York. Before working in skin care, Jules traveled the world as a crisis nurse assisting people during natural disasters and casualties. Jules’ top goal at Fleur De Lis Beauty is to engineer skin care and wellness that will take center stage in the lives of her clients by providing a focus on beauty, self-care, and a healthy lifestyle.[/hen-ui-text][/hen-ui-flex]