Would you, do own a small business?

[spotty_dog]

Yeah I wouldn't touch the liability on a boutique ultrasound place with a ten foot pole. http://www.acog.org/Resources_And_Pu...ltrasonography

I think Deebs is part-owner of a daycare and planning to open her own? You could pick her brain about where she sees it going.

[weeniegeniewife]

Running a small business takes a lot of money and passion. If you are doing it as a quick profit, I think you will be very disappointed, particularly the type of businesses you are looking at. Both have fairly high overhead because of insurance issues, plus you will need to actually hire a doc if you have sonogram place. Running a business is NOT a profit venture, at least not in the short term.

Having owned my own business for 10 years, I completely agree with all that Kris wrote.

[moonlight]

Nope, they make a lot more $30 - $40 an hour. Just looked it up. I was spit-balling. I also think that finding good part-time sonographers is going to be difficult. I'm not trying to be discouraging. I really do think that any business venture needs to be a long-term plan. The medical director is going to be serious cash, plus the malpractice. I'd plan on 150 - 200K cash outlay at the startup, and then, an operating budget of at least 20K per month, every month.

Can I PM you after we have our phone meeting with the franchise HQ? I don't want to get scared off by made up numbers before talking to them, but I'd like your thoughts once I have more concrete details.

Thank you all so much for your input!

[The White Coat Investor]

I would encourage you to open a small business. I have one. It took a long time to start making much money, but I have been pleasantly surprised by how well it has grown. You never know what yours will do.

However, remember that there is probably a MUCH better solution to your dilemma of getting rid of student loans ASAP. Most of the people on this board are married to someone who now has or soon will have the ability to turn time into money at a very high rate. I suggest you take advantage of it, and combine it with a short-term frugal lifestyle. You'd be surprised how fast debt can disappear with hard work and low spending. I have a post coming up this month about a couple who retired something like $240K in student loans in 5 1/2 months. It was two physician couple, but still....It really opens your eyes to what is possible when you commit to not having that debt long term.

[bokelley]

I will say the push in the ob gyn world is to buy these machines and have us (office) make the money. We have already looked and we are about the last in the market.

I would be very concerned about not even being in business, and losing to the ob gyn practice themselves. If there is a way to make money on that, a medical office will try and take it

[Chrisada]

I will say the push in the ob gyn world is to buy these machines and have us (office) make the money. We have already looked and we are about the last in the market.

I would be very concerned about not even being in business, and losing to the ob gyn practice themselves. If there is a way to make money on that, a medical office will try and take it

Yup, DH's new group owns machines and they all get a cut from it.


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[moonlight]

Yup, DH's new group owns machines and they all get a cut from it.


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Four years ago my private practice OB didn't offer it. Now I'm at a university clinic and obviously its not offered as a add on service there either. I guess most people go to PP OBGYN's?? Again, its totally going to depend on the market of where we land. At our current city there are 2 places already. I would have to put one out in the burbs or just scrap the idea.

Bokelly- How do you accommodate the 4D/3D session, space wise? The place I went to last month was adorable! They had comfy couches and seating for 12 family members and more room if people wanted to stand. Very warm and inviting, unlike the GYN clinics I've been to as a pt.

WCI- Thanks for your input! Like I said before, due to my work background I do not have the ability to earn 6 figures at a 9-5 job, like a MD could. However, I have skills that would make a small business a success. The bottom line is I've made the companies I work for lot of money. Now... its my turn.

[Chrisada]

3D ultrasounds are not offered? I think typically they only give 3D at the hospital/university clinic is if you actually need it. DH's group does own ultrasound machines, but I'm not sure of the type and if they give out 3D/4D


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[Deebs]

Owning a daycare franchise is in my 5 year plan. I don't want to go back to health care administration and, for the hours I worked, I'd rather work for myself. I love that I have worked within the house of medicine, and am able to better support DH because of it, but health care quality improvement/assurance (what I did) isn't what it used to be. DH and I helped close friends get a daycare franchise off the ground, are still small investors, and they have no regrets.

I've chosen a company that really helped support DH and I when we were far from family and he was working 25 shifts/month. It is near and dear to me. Bringing my health education background in as experience, as well as the ability to provide food low in allergens is a big goal of mine. We were so lucky to have childcare that understood DD's allergies and, while allergies are increasingly common in children, people's understanding doesn't seem to be. I also LOVE managing people.

We have many family members who own small businesses. The way I think of it is like having a baby. It's always there, demanding, and something that you do, at least at times, need to eat, sleep, and breath. I'd really, really think about what you want to do before starting. Another thing to consider - don't assume you'll build a business and be able to sell it. Many people are currently "stuck" with businesses they wanted to retire from 5 years ago, but business loans are much harder to come by than they once were, and selling a business is just not very simple, so they are hanging on.

[moonlight]

Owning a daycare franchise is in my 5 year plan. I don't want to go back to health care administration and, for the hours I worked, I'd rather work for myself. I love that I have worked within the house of medicine, and am able to better support DH because of it, but health care quality improvement/assurance (what I did) isn't what it used to be. DH and I helped close friends get a daycare franchise off the ground, are still small investors, and they have no regrets.

I've chosen a company that really helped support DH and I when we were far from family and he was working 25 shifts/month. It is near and dear to me. Bringing my health education background in as experience, as well as the ability to provide food low in allergens is a big goal of mine. We were so lucky to have childcare that understood DD's allergies and, while allergies are increasingly common in children, people's understanding doesn't seem to be. I also LOVE managing people.

We have many family members who own small businesses. The way I think of it is like having a baby. It's always there, demanding, and something that you do, at least at times, need to eat, sleep, and breath. I'd really, really think about what you want to do before starting. Another thing to consider - don't assume you'll build a business and be able to sell it. Many people are currently "stuck" with businesses they wanted to retire from 5 years ago, but business loans are much harder to come by than they once were, and selling a business is just not very simple, so they are hanging on.

Thanks for all the info!! I'll be picking your brain in the future. haha! I want to put my baby in your daycare!!!

My aunt owned a day care in the 90's and sold it about 10 years ago to Head Start. It wasn't a franchise center though.