514. What It Really Costs to Launch a Testing Practice (and How to Pay for It)

Would you rather read the transcript? Click here. 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 pr...