Yes, an RN can start an IV Hydration business in Florida. Most licensed nurses, practical nurses, osteopathic doctors, medical doctors, dentists, and even medical assistants that have acquired the training and certifications can provide IV hydration therapy to patients in the state.
Most laws in Florida require professionals that provide IV hydration therapy in the homes of their patients to be licensed by a nurse registry or a home health care agency. There are some exceptions to licensure when certain professionals that possess the right license are working as individuals and within the scope of their professional license to provide home care to their patients.
Steps to Start an IV Hydration Business in Florida
Table of Contents
- Step One: Carry Out Your Market Survey and Feasibility Study
- Step Two: Name Your IV Hydration Business
- Step Three: Draft a Practicable Business Plan Document
- Step Four: Pick a Legal Entity for Your Business
- Step Five: Register Your Business Name
- Step Six: Look for Your Startup Capital
- Step Seven: Apply and Obtain the Needed Business Licenses and Permits
- Step Eight: Register for a Federal Employer Identification Number (EIN)
- Step Nine: Open a Florida Bank Account
- Step Ten: Buy the Required Business Insurance
- Step Eleven: Rent or Lease Your Office
- Step Twelve: Buy the Needed Equipment and Working Tools
- Step Thirteen: Promote Your IV Hydration Business
Step One: Carry Out Your Market Survey and Feasibility Study
The first step to take when starting an IV hydration business as a nurse in Florida is to carry out market surveys and feasibility studies. The result you get from your market survey and feasibility study will help you know how to start your business on the right footing, your choice of office location, and the demographic composition of your target market.
This survey and feasibility study should give you a hint of the competition you are likely to face, where to get your products, your raw materials, and other resources that can help determine the success of the business.
Step Two: Name Your IV Hydration Business
You should name your business. When choosing a name for your IV hydration business, make sure you are creative with the business name you chose. The rule of thumb when it comes to choosing a name for your business is to go by what is obtainable in the industry you want to operate in.
Prior to choosing a name for your business, it is advisable to use viable online resources. Be sure that the name you settle for is available and has an available web address. If the web address is available, you can tie it down so as to prevent someone else from making use of it.
Step Three: Draft a Practicable Business Plan Document
Another important step to take is to prepare your business plan regardless of the nature or size of the IV hydration business you want to start.
When writing the business plan for your IV hydration business, make sure you are realistic and do not over-project when allocating figures on your projected profits and income. It is better when you underestimate than to over-project.
Step Four: Pick a Legal Entity for Your Business
In Florida, you will be going against the law if you operate an IV hydration business without registering it. Registering a company as a legal business entity has two benefits; it will boost the business’s credibility and also give the business the needed protection as it relates to personal liability whenever the business is taken to court.
Registering a business as a limited liability company is the best option. When compared to other business entities, limited liability companies (LLCs) are less stressful to start and operate. LLCs also enjoy good tax treatment. It will cost you about $125 to register your LLC. This fee covers the fees for the registered agent designate and also for filing the Articles of Organization.
Step Five: Register Your Business Name
You should conduct business name research to be sure that you are not using a name that is already in the official database in Florida. For most IV hydration businesses in Florida, registering a limited liability company is the preferred option because it is easy to establish and it has advantageous tax treatment.
Step Six: Look for Your Startup Capital
When looking for startup capital to establish an IV hydration business in Florida, the Small Business Administration (SBA) is your sure plug. Getting first-hand information on how SBA loans work in the United States might be all an aspiring entrepreneur needs to do to finance their business.
This is because the United States Small Business Administration (SBA) is a major source of financing for entrepreneurs that operate small businesses. In the United States, the Small Business Administration has loads of loan programs that have made it easy for businesses to access the needed funding.
Step Seven: Apply and Obtain the Needed Business Licenses and Permits
The next step to consider is to obtain the required state business licenses and permits to legally run your business. Note that before you can operate your newly registered IV hydration business in Florida, you are required to conform to local government, state, and federal regulations. In most cases, you will be required to get the following licenses and permits;
- General Business License
- Director’s License
- NABP’s IV hydration Therapy Pharmacy Accreditation
- Health and Safety Permit
- Zonal Permits
Step Eight: Register for a Federal Employer Identification Number (EIN)
In Florida, to start an IV hydration business, you are required to register for a Federal Employer Identification Number. Before you can register for a Federal Employer Identification Number, you are required to complete and file IRS Form SS-4.
You are required to file this if you: pay wages to at least an employee or more; or are required to have a Federal Employer Identification Number to use on a specific return, statement, or document (often banks will require this for a business checking account); or plan to incorporate.
You can get the form from the closest IRS office, or call 1-800-829-3676. IRS forms and publications can be downloaded from their website: http://www.irs.gov. Have in mind that if you have plans to employ people to work for you in Florida, you may be required to register for both Employee Withholding Tax and Unemployment Insurance Tax on behalf of your employees.
Step Nine: Open a Florida Bank Account
Another requirement for starting an IV hydration business in Florida is to open a Florida bank account. The documents you would need are your approved Articles of Organization, your EIN confirmation letter from the IRS, and your driver’s license or passport.
You may as well call your preferred bank ahead of time to find out if you need to come along with any other document that is not listed on their website.
Step Ten: Buy the Required Business Insurance
In Florida, you cannot legally run an IV hydration business without first securing insurance. You may need to talk to insurance experts, they are in the best position to tell you all you need to know as it relates to insurance for your IV hydration business.
But you should make plans to buy general Insurance, Workers’ compensation, Liability insurance, Health/Medical insurance, Overhead expense disability insurance, Payment protection insurance, and Business owner’s policy group insurance.
Step Eleven: Rent or Lease Your Office
You would need a good location to start an IV hydration business even if you will be offering most of your services in the homes of your patients. If you want to lease or rent an office facility in Florida, you should be mindful of the zoning law.
Before making a choice of location, it is advisable to visit the county office to know if your IV hydration business will meet the local zoning laws.
Step Twelve: Buy the Needed Equipment and Working Tools
You would need the required equipment to administer IV hydration to your patients. You will need equipment like vacuum collection tubes, venous access devices, catheter tubes, adaptors, an access cap, syringe, needles, first aid kits, emergency preparedness kits, and an emergency plan, among others.
But in equipping your office, you will need a computer, printer, software apps, telephones, pager, photocopier, scanner, fax machine et al.
Step Thirteen: Promote Your IV Hydration Business
Another step to take after establishing your IV hydration business in Florida is to promote the business. When it comes to marketing and promoting your IV hydration business, you should do all you can to reach out to the specific demography that would need your services.