Are you looking for a great niche side practice idea? Then you should really consider starting an IV-infusion clinic. Another name that has been cleverly given to this type of practice is the “drip lounge.”
IV-infusion clinics have been popping up all over the country over the past 5 years, and for good reason. Patients love them. People are looking for a quick fix for everything from a cold to a hangover. We live in a time where people want to feel better faster, therefore, as an astute nurse practitioner entrepreneur, you should be delivering to people what they want.
IV-infusion clinics target a large array of patients. Your target market are weekend warriors needing a quick cure for their hangover, athletes looking to hydrate before a marathon, people with an acute upper respiratory infection who want to recover faster, and individuals who just want to feel better overall. Almost every person in this country can benefit from an IV infusion, and this is why it has turned into such a hot medical service.
The benefits for patients are increased energy, faster recovery times from injuries and illnesses, improved performance, improved quality of their hair/skin/nails, improved immune health, and many more. Health minded patients want to feel and look better and various different type of IV cocktails help the patient with that. Some patients come in on a regular basis for infusion because they feel so well afterward! You would not have return customers if it didn’t work!
Starting an IV-infusion clinic makes for a great side practice from a business standpoint as well. Medically trained and non-medically trained business owners know this, which is the driving force behind the popularity of drip lounges. Why is it great? Because the expenses are generally low and the revenue is high. Very few businesses can generate the revenue an IV infusion clinic can with the amount of time required to start and operate one.
What do I mean by that? For the nurse practitioner, you don’t even need to be there most of the time. You can delegate the work to an RN to start the IVs. All you do is sign the order! Therefore, you make money while you are not even there. This is what we call a partially passive income stream and it is something everyone should strive in creating.
They are also a low-expense clinic. The only supplies you need are IV supplies, bags of normal saline, and the reagents that are added to the IV bag. These items are fairly cheap in nature, which makes the markup on the product very high! The average cost per infusion will be around $10. How much do you charge for the IV? $100-200! These are crazy good margins. The other biggest expense you need to be aware of also is paying for the employee who is starting and managing the IVs. The best part about this though is that individual will only be working on a very part-time basis, therefore it is not a large expense.
For example, if you have an RN starting and managing the IVs for $30 an hour, they will only be working 10-20 hours a week on average. This is only $300-$600! A handful of IV treatments would pay this individuals salary without a problem.
How much revenue can a drip lounge produce? It totally depends on how well you market the practice, the location, and how many hours you are open. Many clinics are only open Friday-Sunday where as others are open 7 days a week. It comes down to how densely populated of an area you provide services in! For the very part-time weekend practice, you could expect to earn anywhere from $2,000-$4,000 over a weekend. That is only an average of 10 infusions a day, which is very feasible with the right marketing campaign.
If you are open 7 days a week, you could easily make $10,000 or more a week. The possibilities in terms of revenue differ greatly depending on what your goals are. I know an NP that owns an IV infusion clinic who routinely makes $5,000 a week being open just 5 days a week in a larger populated area. It just comes down to how well you market the practice!
Every nurse practitioner out there has the ability to make a healthy side income building an IV-infusion clinic. All it takes is some preparation and the courage to get started. This type of practice will be around for many years as the demand increases. If you are serious about nurse practitioner entrepreneurship and building a more financially free life, then you should consider starting an IV-infusion clinic. It can be done part-time, it is a passive income stream, the expenses are low, and the revenue potential is high. It makes for a great first practice or service line to an already established one!
Remember, The IV-Infusion Clinic Course covers all the aspects of starting an IV-Infusion Clinic. If you want step by step instruction and have all the forms necessary to start this niche practice, check out the course! We have created the cheapest IV-Infusion Clinic course on the market!