You’ve probably heard the age-old business advice: "you have to spend money to make money." But how much money do you have to spend? And where should you spend it in order to get the best return on investment?
There is definitely a cost associated with running a nutrition business, and today we are laying it all out so you can invest where it counts and avoid unnecessary spending.
Having access to the proper tech tools will be critical to help you deliver an amazing client experience and keep your practice well organized. Differentiating necessary from unnecessary is key here, otherwise, the money flowing out each month can get out of hand quickly.
Here are the three software tools we believe you need to smoothly run a nutrition business regardless of what stage you are in:
- Practice Management Software
- Email Marketing Software
- Nutrition and Meal Planning Software
Practice Management Software: $30 to $120/month
No matter where you are at in your business, you will need a tool to manage everything like scheduling appointments, client files, payments, and more. Setting this up from the start will save you a ton of growing pains later on.
We love Practice Better and their tiered membership options allow you to pay based on how many client files you are managing per month.
Email Marketing Software: $0 to $100/month
If you are just getting started, you don't need to invest in an expensive email marketing tool. However, you should at least set up a free account to start collecting emails and sending out newsletters.
We like MailChimp, which is easy to use, free to start and then charges based on how many emails you store as you grow.
Nutrition and Meal Planning Software: $50 to $90/month
Investing in meal planning software from the beginning will help your business grow faster as you will be able to create lead magnets, free talk materials, improve the success of your clients and deliver a totally luxurious experience. It will also save you a ton of time, that you can then invest in other areas of your business like marketing.
That Clean Life allows you to create nutrition resources for your clients in minutes that would take hours and cost hundreds or thousands of dollars to produce on your own.
Thousands of health professionals use That Clean Life to create meal plans, recipe books and more for their clients. Want to see what all the hype is about? Save your seat at our upcoming Open House on September 24th at 2PM ET. Register here to attend live or receive a replay and learn how we can help your business grow.
2. Credentials & Insurance
Another important area you will need to invest in is your credentials and insurance. These are usually paid annually rather than monthly, and the costs add up quickly. This is all a part of being able to work with clients and run your business. Expect to pay for the following:
- Association fees required to stay registered.
- Continuing education and professional development courses as required by your association.
- Liability insurance for your practice.
The costs of credential fees and insurance vary significantly depending on your profession and location. While we can’t tell you exactly what you will need to spend every year on this, $1,000 to $2,000 is common.
3. Marketing and Business Growth
There are unlimited opportunities to pay for ads, coaches, websites, etc. so knowing where and when to invest is really important.
Here are the areas we believe will get you the best return on your investment:
- Free Talks
- Blogging and Social Media
- Building Your Email List
- Strategic Advertising
- Coaching or Consulting
In the beginning, these marketing efforts will require simply your time. Once you are earning more, you may want to invest money into them as well. And once you are busy with clients - you may even want to consider outsourcing your marketing efforts.
For example, you can start giving free talks in your community right now and it will cost you nothing but your time. If you were to spend three hours prepping for and delivering a free talk that brought in two new clients, it would be a great use of your time!
Start sharing information on social media, blogging on a basic website and growing your email list. As your business grows you can pay for website upgrades and implement a digital ad strategy once you have money to re-invest in your business.
Finally, we do believe that coaching or consulting can help your business grow faster as long as you take action on what you learn. There is no magic bullet and business coaching will only work if you do. We created our Nutrition Business Growth Accelerator and our Nutrition Business Building Boot Camp to teach our members everything we know about growing a nutrition business.
Your monthly marketing and growth might be budgeted in your time, or in hundreds to thousands per month depending on where you are at.
Tell us: What business investment has been the biggest game-changer for your business? Let us know in the comments below!
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