How much should I charge?
One of the most common things therapists who are considering moving into private practice stress about is:
What should I charge?
No doubt there is a lot to consider in this question. Imposter syndrome seems to rear its head the fiercest when it comes to talking about money. What if I charge too much, will no one come? Am I worth this much if I am newer?
Here is a simple question to ask yourself to help guide you.
What makes the most business sense?
A private practice is a business, first and foremost. Yes, we want to make it affordable, yes we want to help people but at the end of the day you need to be making a sustainable amount of money for you or you and your family.
First, do some simple budgeting and accounting. How much do I want to make a year? How many clients do I want to see a week? What is your bottom line and what is your ideal? What do you need to make vs what do you want to make? If you are just starting out or are not licensed yet and need to get people in the door it might be wise to slightly charge over what you need to be making and as you grow up that price.
Look at what the going rate around you is.
Research what other therapists are charging in the area. A simple way to do this is to go on PsychologyToday.com and see what other therapists are charging in the area and how long they have been practicing.
At the end of the day Private Practice is a business and we need to treat it as such.
