There are many advantages and disadvantages of opening and running a private practice. When you consider your personal list of pros and cons, we encourage you to reflect on each one, and consider how important it is to your personal situation. You will find some pros and cons below to help you get started.
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Pros |
Cons |
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You can make your own schedule for the convenience of both, yourself and your clients |
You will have start up and maintenance costs |
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Private practice has greater earning potential once you build up your client base |
At times, you may make very little income and your income will be unpredictable from month to month |
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There will be less bureaucracy and no office politics |
You will work in greater isolation and might miss office camaraderie |
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You choose which services you offer |
You don’t have an employer that provides sick days, health or retirement benefits |
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You can make all decisions yourself, and draw upon your network for advice as required |
You need to pay for the services of a supervisor |
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Most of your clients will be motivated to work hard because they are paying for your services |
You need to consult with other RSWs to discuss and reflect upon your cases |
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Ability to turn to other tasks in case of a last minute cancellation |
You need to keep up-to-date on services available in your area to make proper referrals |
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Eligible to claim “household” expenses on your income tax return |
You must plan for coverage when you are away from the office |
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Many clients prefer meeting in a cozy home office |
You need to pay for all your professional development activities and associated expenses |
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If working from a home office, you need to manage increased privacy, client and personal safety risks |
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You need to hone the entrepreneur in you to make a living from private practice |