business start up, calculate costs

V

val1

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i am starting a new medical practice and although i have great support from the hse and other organisations, i am having trouble calculating the cost of start up! numbers and maths were never my strong point and i was wondering if a financial anaylist would be usefull or are there people in ireland that can do a business finance plan, much like a quantity survayer would do when building a house. i know the biggest mistake people make when starting a business is not to get enough capital thank you
 
From your question I take it that you are a GP.

Have you talked to the ICGP? They should be able to help.
Are you qualified to have a GMS list? If so it’s money for old rope when you are setting up.

Have you worked in the local area as a locum etc and built up a reputation? To be honest with the fees doctors charge if they are busy they will make money. Just charge slightly less than the other doctors in the area and open earlier in the morning.

Read up in the employment section about employment law and work hard to get the right staff (without them you will never reach your potential) as most doctors haven't a clue how to treat their staff.

Minimise your fixed overheads; don’t sign a long term lease. You should get the first few months rent free, other than that just set your targets and keep working harder and longer ‘till you reach them. Then you can ease off a bit if you want.
 
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