A complementary health business is sometimes known as an alternative health or holistic practice. However, strictly speaking, complementary health practices work together with established medical practices to treat a common health problem whereas alternative health practices work separately to established medical practices. Depending on the state and/or country where the complementary health business is set up, it is necessary to be familiar with legal, professional and business requirements.
What is a Complementary Health Business?
Complementary health practices are wide and varied. It is important to learn about the particular form of holistic health practice and take the necessary training before establishing a complimentary health business. Examples of complementary health businesses include:
- aromatherapy
- massage
- reflexology
- acupuncture
- homeopathy
- herbal medicine.
Where to Set Up a Complementary Health Practice
Some holistic health practitioners work from home whereas others set up a separate office/studio in which to work from. There are advantages and disadvantages of working at home; initial set up may be cheaper if working from home but there will need to be enough space to work professionally and take into account:
- equipment/furniture needed
- legal requirements
- scheduling appointments.
Insurance, Legal and Professional Requirements for a Holistic Health Practice
There are different insurance, legal and professional requirements for individual states in the U.S. and in other countries. It may be necessary to obtain a business license (even if working at home) from the local authorities and comply with certain local and countrywide laws. In addition, it may be necessary to obtain professional memberships in order to obtain insurance cover; different types of insurance cover may be needed also.
Maintaining Tax Records and Banking for a Complementary Health Practice
It is important to keep a record of all purchases and expenses, and receipt of income, for tax purposes; at the end of the tax year, a complimentary health business will be expected to file a tax return. In addition, depending on how the business is set up (i.e. sole trader, partnership, corporation etc), it may also be necessary to obtain a tax I.D. number. Opening a business bank account is also a good idea to keep business expenses separate from personal expenses.
Marketing a Holistic Health Business
In today's world, every business should have web presence, in addition to local advertising; a complementary health business can be marketed through a web site, blogs, forums and social networking. Depending on the skill levels of the holistic health practitioner, it may be necessary to employ someone to both set up and maintain web marketing tools.
Some complementary health practices, both in the U.S. and in other countries, are not closely regulated, making it simple for almost anyone to set up and call themselves a 'holistic health business.' However, to maintain a professional standard and have the most potential for success, it is advisable to take all available, and accredited, training in the chosen holistic health practice, obtain insurance and professional memberships and comply with legal requirements.
References:
Bishop, Patricia 2004 Setting up and Running a Complementary Health Practice UK: HowToBooks
Sharon Falsetto - Sharon Falsetto is a business owner, certified clinical aromatherapist & professional writer with a life-long interest in plants.
