Most people don’t know what IV hydration is or the benefits of receiving this type of treatment.
Did you know a whopping 75% of Americans suffer from chronic dehydration according to researchers?
And most people don’t even realize they’re dehydrated until it’s too late.
Have you been thinking about starting your own IV hydration business?
Starting your own business can feel like a daunting task, but with the right planning and execution, it can be a huge success.
I hope this guide helps you take the first steps on your journey to owning your own IV hydration business.
This post is for general informational and educational purposes only. You can read the full disclaimer for more information.
Why starting an IV hydration business is a great idea
For starters, it gives those of us with an entrepreneurial spirit an opportunity to be our own boss. Which in turn, means you set your own hours.
Plus, starting an IV hydration business can be relatively low-cost and have a high return on investment. And this is yet another way to use your nursing career to help people feel their best.
IV hydration therapy can have a variety of benefits for people, including improved overall health, increased energy levels, and better mental clarity.
IV hydration businesses aka drip bars can provide these services to a variety of people.
Including individuals looking for a wellness treatment or an immune system boost.
For example, athletes needing to recover from a strenuous workout, people suffering from hangovers, and those who are dehydrated due to illness.
What is IV hydration and what are its benefits
Intravenous (IV) hydration is an injection therapy that delivers fluids directly into your bloodstream via an IV catheter.
The fluids help to replenish the fluids that your body has lost and can also provide optimum hydration and essential nutrients and minerals.
IV hydration can be used to treat dehydration, as well as a number of other conditions.
The benefits of infusion therapy are many, and include:
- Increased hydration: When you are dehydrated, your body is not able to function at its best. IV hydration can help to replenish the fluids that your body has lost and improve your overall health and general wellness.
- Improved nutrient absorption: IV fluids can help to improve the absorption of nutrients from the foods you eat. This can lead to increased energy levels and improved overall health.
- Relief from headaches and migraines: Dehydration is a common trigger for headaches and migraines. IV hydration can help to relieve these symptoms by replenishing the fluids that your body has lost.
- Improved joint and muscle health: When you are dehydrated, your joints and muscles can become inflamed and painful. IV hydration can help to reduce inflammation and pain and improve overall joint and muscle health.
- Better skin health: Dehydration can cause your skin to become dry, irritated, and wrinkled. IV hydration can help to improve your skin health by replenishing the fluids that your body has lost.
- Stronger immune system: When you are dehydrated, your immune system is not able to function at its best. IV hydration can help to boost your immune system and help you fight off infections, especially during flu season.
How to start an IV hydration business
If you’re interested in starting your own IV hydration business, there are a few things you’ll need to do in order to get reach your business goals.
- Check with your local government regarding which health care provider may own clinics. This goes for a nurse practitioner, physician assistant, or registered nurse. Several states including California and Texas consider piercing the skin and substance or drug administration a medical practice or procedure.
Many states have what is called a “corporate practice of medicine.”
This is a policy that many states have enacted to stop lay people or lay groups from recruiting a licensed physician or offering expert medical services.
- Speak with a lawyer. You definitely want to design a business model that is legal. An attorney that specializes in medical collaborative practices will help you figure out laws that impact your practice.
They can also help draft your legal documents such as policies and procedures. It’s a good idea to seek counsel up front in order to avoid legal issues down the line.
- Name your business. A simple business name that someone can remember will make it easy for people to find you. Consider trademarking your business name.
- Develop a business plan. According to the United States Small Business Association your business plan can be a lean startup plan or a traditional business plan. The traditional business plan includes a(n):
- Executive Summary- Explain what your company is. Include a mission statement, product or service information, and basic details about the company’s leadership team, workers, and location.
If you want to apply for funding, you should also include financial data, strategic expansion plans, and franchise opportunities.
- Company Description- Use your company description to provide comprehensive information about the type of business you run. Give a thorough explanation of the issues your business solves.
Be exact; list out the customers, organizations, or enterprises your business intends to serve.
- Market Analysis- You’ll need a strong grasp of the current state of your industry and target market. Competitive research will let you know what other companies are up to, as well as their advantages. Look for trends and themes in your market study.
What do successful competitors accomplish? Why does it work? Can you improve on it?
- Organization and management- Tell your reader how your company will be organized and who will run it. According to your state’s rules for scope of practice, form a collaborative physician or medical director partnership, and prepare an agreement.
Describe the corporate structure of your business, whether you’re a C or S corporation, a general or limited partnership, or a sole proprietorship or limited liability company (LLC).
Use an organizational chart to show who is in charge of what in your business. Show how each individual’s prior knowledge will aid the company’s success.
Consider including resumes and CVs for important members of your team.
- Service or Product line- Describe what you sell or provide. Explain how it helps your customers and the product life cycle.
Share your strategy for intellectual property protection, such as copyright and patent filings. Explain in detail if you’re conducting research and development for your service or product.
- Marketing and Sales- There isn’t just one approach to go about a marketing plan. Your plan should adapt and develop to meet your unique demands. This portion of the description should focus on how you’ll acquire and keep customers.
You’ll also go over how a transaction will come about in reality. This section will come in handy when you create financial projections later, so make sure to give it the proper attention now.
- Funding Request- This is where you’ll describe your funding needs if you’re asking for money. Your aim is to clearly explain how much funding you’ll require over the next five years and what it will be used for.
Indicate whether you want debt or equity, the terms you’d like applied, and the duration of time your request will cover. Give a complete description of how you’ll spend the money.
If you need cash to acquire equipment or supplies, pay salaries, or cover specific bills until income increases, make sure to include that information.
Always include an explanation of your long-term financial goals, such as paying off debt or selling your company.
- Financial Projections- Include financial projections as part of your funding application. Your aim is to persuade the lender that your business is stable and will be a financial success.
If your company is already up and running, include income statements, balance sheets, and cash flow reports for the previous three to five years.
If you have any other assets that might be used as collateral, make sure they’re listed here.
Offer a prospective financial statement for the next five years. A forecasted income statement, balance sheets, cash flow statements, and capital expenditure budgets should all be included.
Make sure to thoroughly describe your projections and match them to your funding requests.
This is an excellent opportunity to use graphs and charts to tell the story of your company’s finances.
- Appendix- Your appendix can be used to back up documents or other materials that have been requested. Items such as credit histories, resumes, product pictures, references, licenses, permits, trademarks, patents, legal papers, and other contracts are all examples of things that should be included.
- Register your business as a legal entity. Specifics of how and where will depend on your business’s legal structure and location.
Find out if you need to register your business with federal, state, and local agencies.
This also means obtaining a business license, paying state fees, registering your business with the IRS, and obtaining an employer identification number (EIN) number.
- Open up a business bank account. You want to separate your personal and business expenses.
It would also be beneficial to invest in a booking-keeping system like QuickBooks or hire a CPA.
- Get Insurance. This goes without saying, healthcare liability insurance is a must. This protection is essential for preventing expensive lawsuits resulting in the loss of practice and/or the loss of personal assets.
- Find a location. Things to consider when looking for a commercial location include cost, competition, zoning restrictions, and accessibility or a place where you can see a lot of foot traffic. This could be near a gym in your local community, a health food store, or even in a busy office building lobby.
You may choose to make your business a mobile unit and provide home services. In that case, you can obtain a virtual address.
- Get credentialed and obtain your NPI numbers. If you plan on accepting insurance payments, you’ll need to be credentialed. A credentialing process is utilized by health plans to allow medical professionals to participate in its network or provider enrollment.
All health care providers that are HIPAA-covered entities, whether individuals or businesses, must have an NPI.
Entities include health care providers that conduct certain transactions in electronic form and health plans e.g. commercial plans, Medicare, and Medicaid.
There are two categories of health care providers for NPI purposes: Entity Type 1 (Individual including a sole proprietor) and Entity Type 2 (Organization).
The Medicare Learning Network chart outlines entity types.
- Decide on the services you’ll provide and pricing. In addition to hydration services, IV vitamin therapy and amino acids can also be used to treat a variety of conditions.
For example, vitamin C is often used as an immune booster, while B-complex vitamins are often used to treat fatigue.
Amino acids, such as glutamine and ornithine, can be used to improve gut health and heal the gut lining.
IV vitamin therapy and amino acids can also be used to improve athletic performance.
For example, many athletes use IV vitamin C to reduce inflammation and speed up recovery time.
Amino acids such as arginine and carnitine can be used to increase energy levels and improve exercise performance. When pricing your services:
- Calculate your expenses
- Examine the market
- Know your clients
- Consider how much time you’ll need to complete the service
- Set a reasonable profit margin
- Charge an hourly or per-service fee
You can research the going rates for similar businesses in your area to get an idea of what to charge.
Once you have determined your prices, be sure to clearly list them on your website or marketing materials so that potential customers know what to expect.
Creating packages is the best way to bundle your best sellers and increase your profits per sale.
- Decide on which systems you’ll use to operate your business. An accounting, payroll, invoicing, task management, email, scheduling, phone/fax, and an EMR system are all needed. Be mindful of HIPPA compliance in your choice of providers.
- Buy equipment and supplies. To get started with your own IV hydration business, you’ll need a few key pieces of equipment:
- a medical-grade refrigerator to store your IV fluids
- an IV drip stand, an assortment of IV needles/catheters
- a supply of IV bags with sterile saline solution and distilled water
You can find all of this equipment at most medical supply stores like Medline and McKesson.
How to market your business
As with any new business, there is always the challenge of getting the word out and marketing your services to potential customers.
One way to market your IV hydration clinic is to start by creating a website that provides information about your services and includes an online booking system.
You can create an online presence by using social media platforms such as Instagram, Facebook, and Twitter to generate interest in your business. You can also offer free consultations to potential customers so that they can learn more about the benefits of IV hydration therapy services.
Finally, you can try the following ways to reach potential customers and get your first client:
- Use Google’s free marketing tools
- Advertise discounts and promotion
- Write an article for a professional industry magazine or website
- Host or co-host an event
- Create an infographic
- Utilize LinkedIn (posts and groups)
- Ask for customer referrals (non-affiliate programs)
- Attend networking events
- Offer event sponsorships
- Establish a joint venture with other small businesses
Your business launch is a big deal. So, plan ahead. Don’t leave everything to the last minute.
Give yourself plenty of time to promote your business and get everything in order.
How to keep your business running smoothly
At this point, your IV hydration company is off to a great start! The next step is to keep things running smoothly.
Here are some tips on how to do just that:
- Stay organized. This is key for business owners, especially in a busy medical office.
Keep your paperwork in order and your appointment schedule up to date. This will help you avoid missed appointments and frustrated customers.
- Hire reliable staff. As your business grows, you may need to hire additional staff members to keep things running smoothly.
Make sure to take the time to find reliable employees who will be able to handle the workload.
- Stay on top of your finances. In any business, it’s important to keep tabs on your finances.
Make sure you are billing correctly and collecting payments in a timely manner. This will help you avoid financial woes down the road.
- Promote your business. IV hydration is a unique and growing industry. Make sure your potential customers know about your business by promoting it.
You can use various marketing channels to reach potential customers, such as online directories, flyers, and word-of-mouth.
Once you’ve found a few customers, it’s important to deliver quality service in order to keep them coming back.
By following these tips, you can keep your IV hydration business running like a well-oiled machine!
How to start an IV hydration business, takeaways
If you’re thinking of starting an IV hydration business, you’ll need to invest in some essential equipment and learn how to market your services.
But once you get started, this type of business can have a big earning potential – especially if you focus on providing excellent customer service.
By following the tips we’ve shared in this post, you can set yourself up for success and watch your business grow!
Starting an IV hydration business can be a great way to provide a needed service to customers looking to meet their wellness goals with an alternative to traditional medical care.
Are you ready to start an IV hydration business? Let me know in the comments below!