In this episode, I break down one of the most common and anxiety-inducing questions I hear: “How much does it actually cost to start a private testing practice?” I walk through the key categories of startup costs—legal setup, clinical readiness, and marketing/admin—and share detailed estimates based on real-world examples. I also highlight hidden or overlooked expenses that can sneak up on you. And if you don’t have $10K–$20K saved up? No problem. I share multiple funding strategies, including 0% APR credit cards, SBA loans, grants, peer lending, and bootstrapping. My goal is to give you clarity and confidence so you can move forward with a smart, grounded plan for launching your practice.

Cool Things Mentioned

• The Testing Psychologist mastermind groups and business consulting

• Beginner Practice Checklist: A step-by-step guide to launching your practice: https://www.thetestingpsychologist.com/wp-content/uploads/2023/12/Beginner-Practice-Checklist.pdf

Digital Scoring Platforms

• Q-interactive (Pearson): https://www.helloq.com

• PARiConnect (PAR): https://www.parinc.com/PARiConnect

Low-Cost Website Platforms

• Squarespace: https://www.squarespace.com

• Wix: https://www.wix.com

• Wordpress: https://wordpress.com

DIY Logo & Branding Tools

• Logo.com: https://logo.com

• Canva: https://www.canva.com

Grants for Entrepreneurs

• Amber Grant (for women): https://ambergrantsforwomen.com

• NASE Growth Grants: https://www.nase.org/become-a-member/grants-and-scholarships

Small Business Loans & Credit Lines

• SBA Microloans: https://www.sba.gov/funding-programs/loans/microloans

• BlueVine (business lines of credit): https://www.bluevine.com

• Fundbox (credit lines): https://fundbox.com

Peer-to-Peer Lending Platforms

• Kiva: https://www.kiva.org

• LendingClub: https://www.lendingclub.com

Secure Email & Fax Providers (for HIPAA compliance)

• GSuite + Google Workspace with HIPAA BAA: https://workspace.google.com

• Paubox: https://www.paubox.com

• SRFax: https://www.srfax.com

Featured Resources

I am honored to partner with two AMAZING companies to help improve your testing practice!

PAR is a long time supporter of the Testing Psychologist podcast, and I will continue to bring you featured items from their catalog! Listen to each episode for specific product recommendations and links. Learn more at www.parinc.com.

 

TherapyNotes is the leading EHR system for mental health practitioners. I’ve used TherapyNotes for over 10 years, and it just keeps getting better. Use this link and the promo code “testing” to get two free months and try it for yourself! www.therapynotes.com/testing

The Testing Psychologist podcast is approved for CEU’s!

I’ve partnered with At Health to offer CE credits for podcast episodes! Visit this link to access current and past episodes available for CE credit. You can use code “TTP10” for a discount on ALL the course credits you purchase from At Health!