Nurse Agency Start up

Agency Owner Facts Sheet
Nature of the business
The company provides temporary nursing staff for healthcare facilities. It is usually operated out of a physical office, not a home office. The office is open during normal business hours and someone is on-call 24/7.
A temporary staffing service with 10 nurses working regularly is a multi-million dollar business. Persistence, hard work, and diligence are needed to start and grow a multi-million dollar business. Nurses have all these qualities.

Startup costs
Nursing agency startup costs are a minimum of $80,000 up to $100,000. The additional startup cost accounts for hiring an office staff and launching an effective advertising campaign. Those who are successful with the smaller investment tend to be nurses who are willing to do the work themselves, spend a lot of their personal time, and build the agency slowly. A funding base of $200,000 and up is needed to meet payroll while waiting for payment from the facilities.

Funding is available from factoring and funding companies.
The Internal Revenue Service (IRS) requires that personal and business expenses and equipment be held separately. Personal computers, software, printers, and other equipment and supplies used by the company can be purchased by the company from you. You can loan your company startup funds to purchase these items or rent them to your company. No personal business should be done on company computers or equipment.

Industry future
The future for this industry is good based on the shortage of nurses and the continuing increased demand for nurses forecasted in the future.

Earnings
Earnings are unlimited and are based on the number of employees working in facilities under contract. Agencies quickly move into multi-million dollar earnings. Typically an agency gains the interest of an acquiring agency in one and one-half years and is worth from 1.2 to 3.2 million dollars.

Education
The owner and operator of a temporary help service does not have to be a nurse or have any special nursing education. Some states require that a registered nurse work for the company either as an employee or consultant.
Business education is needed for nurses to understand the business aspects of being self-employed or a small business owner. The association provides this education customized for nurses. College and community business courses do not understand the nursing community. Advanced nursing courses do not teach self-employment and small business ventures.
Retrieved from http://www.nnba.net/facts-nursing-agency.htm on October 31 2008

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