Business Planning for an Independent ABA Practice

INTRODUCTION

Are you interested in venturing out on your own but aren’t quite sure how to start an independent ABA practice? Like me, your graduate program probably did not offer coursework or training on what it means to be in private practice. In fact, the idea of going into private practice may not have been discussed as an option. Yet also like me, you are determined to pursue a career as an independent practitioner. Well, you’ve come to the right place. Everything I now know about running an independent practice I learned through self-education, mentorship, and experience. The first lesson is the importance of a business plan.

 

PLAN FOR SUCCESS

When starting an independent practice, you'll want to start with a solid business plan. Think of this as your treatment plan for business success, or as I like to call it, your Business Support Plan (BSP). A business plan helps you to establish the direction you want to go, identify how you'll make money, identify potential barriers, and help you achieve your goals and objectives. Studies have shown that entrepreneurs who create a plan for their business are more likely to start their business. Furthermore, businesses that set goals and objectives and tracked their progress grow faster than those that don't plan.

 

This is likely of no surprise. As behavior analysts, we have advanced knowledge and training in assessing, planning, goal setting, implementation, and measuring. With clients, you have undoubtedly experienced the effect of assessing a specific behavior, putting a plan in place, setting measurable objectives, and achieving a desirable outcome. When it comes to being successful in business, the behavioral principles apply all the same. Here are several benefits to writing your plan:

  • Helps you determine your target market and how to reach them

  • Helps you identify business opportunities you may not have considered and plan how to take advantage of them

  • Helps you discover any weaknesses in your business model or approach so you can address them before you open your practice

  • Guides you through an analysis of the market and competition to strengthen your business approach

  • Gives you a chance to plan strategies for dealing with potential challenges so they don’t impede your launch

  • Requires you to calculate when your practice will make a profit and how much money you need to reach that point so you can prepare any needed capital

  • If necessary, will be value-added in pursuit of funding

 

KEY COMPONENTS OF YOUR BUSINESS SUPPORT PLAN 

Although you’ll be able to personalize the information within your business plan to meet the unique needs of your independent ABA practice, there are several key components all business support plans should include. 

  • Mission Statement: Your mission statement is 1-2 sentences or a short paragraph that describes your business culture, values, and ethics. 

  • Business Goals: Communicate how you will accomplish your mission through your business goals and objectives. Provide an outline of your goals for up to three years, including quarterly objectives for the first year.

  • Target Market: Your target market is, in essence, a description of your ideal client. In this section, you will identify the core elements of who your services are for and how you will meet their need.

  • Description of Business: Your business description provides a summary of your business philosophy, model, and approach.

  • Competitive Analysis: Understanding the conditions of the market you’re competing in will help you to determine where your services are needed most. Your competitive analysis outlines who your competitors are and the current trends within the industry as well as factors that give you a competitive advantage.

  • Marketing Plan: Your marketing plan summarizes how you will professionally and ethically market your services to your ideal client.

  • Financial Plan: Your financial plan includes an outline of your startup costs, break-even amount, projection of cash flow, profit and loss statement, and balance sheet. If you intend on applying for a loan, your plan will also include a list of your capital needs, how you intend to use the money, the benefit of the loan to the business, and how you will repay the loan. 


NEXT STEPS

Writing your Business Support Plan is a vital step that will help you launch your business and set you up for success as an independent practitioner. To assist in achieving your career goals, here are a few additional steps you can take:

  1. Download and utilize the Business Support Plan Template, Independent ABA Practice 12-Month Timeline for Success, and Checklist for Starting an ABA Practice from the Downloadable Tools page here: LINK
  2. Develop goals and objectives for launching your practice. (Hint: use the tools above as a guide for establishing your goals).
  3. Utilize the guidebook The Business of Behavior: The Behaviorist's Roadmap to Independent Practice for step-by-step instructions on how to complete your plan. Author-signed copy available for purchase here: LINK
  4. Obtain ongoing guidance by enrolling in the ABA Business Mentorship Program. Learn more here: LINK


Updated November 11, 2023 - By Charity Steele, MS, BCBA