20 Solid Nurse Practitioner Business Ideas For 2024

Written By: Donna Reese MSN, RN, CSN

In the past few years, I have found the trend of nurse and nurse-practitioner-owned businesses to be very exciting. As I began to research for this article, the list of entrepreneurial ventures for an NP grew longer than I could have imagined. Searching through LinkedIn and other sources, revealed an eye-opening picture of fascinating business possibilities for adventurous nurse practitioners wanting to join the business world.

Instead of being an employee, wouldn’t you love to be your own boss while making a significant income? This article, 20 solid nurse practitioner business ideas for 2024, can get you started in a unique career direction, giving you new-found freedom in nursing that you may have never thought possible. If this novel career path excites you too, or if you are just curious, you may ask what are the best business ideas for nurse practitioners? Keep reading to explore big and small ideas for NP business ventures.

CAN NURSE PRACTITIONERS START THEIR OWN BUSINESSES?

Oh yes, NPs can be successful business owners! NPs are brilliant with time management, hardworking, intelligent, and resilient; all qualities of an effective entrepreneur. The problem is that in nursing school and NP programs, we are typically taught to be employees, not business owners. The mindset is that we are the worker bees, not the queen bees. Slowly, this thought process is changing, although when I talk about owning my own nurse writer business, many NPs are still baffled by this possibility. However, starting your own business is definitely an achievable career goal.

Nurse practitioners may think skills such as suturing and diagnosing conditions are the end-all for their abilities. But what about the soft skills you have honed since your undergraduate program? Those psychology classes, leadership forums, and communication experiences leave you well-equipped to own a successful business. Whether you love working with people or not, you have developed people skills as a nurse and NP that will take you far in the business world. Business ideas for nurse practitioners don’t have to be big. Small businesses can supplement your income or grow into larger entities as time goes on.

I have never been good at marketing myself and felt uncomfortable “tooting my own horn,” even during job interviews. You may wonder, how can a business owner, like myself, promote their product without all-important charisma and confidence? Our valuable soft nursing skills and vast experience with all kinds of patients can transfer to business wisdom in many nurse-owned businesses. In addition, nurses are the most-trusted profession for 20 years in a row, according to a 2022 Gallup poll. Who wouldn’t give a nurse-owned enterprise a try with that kind of background?

There has never been a better time to be a woman (or male) business owner. In fact, the US Census Bureau reports that the rate of new women-owned ventures is on the rise. With 12,943,353 registered women-owned businesses in the US in 2022, now is the time to jump on this exhilarating bandwagon. With women dominating our industry, these statistics for starting a business are encouraging.

You may want to know if owning your own company helps you to get rich. Possibly. But you will never know unless you try. Many successful nurse practitioners prove that NP business ideas can turn into a lucrative career.

RECOMMENDED ONLINE NURSE PRACTITIONER PROGRAMS

WHAT KIND OF BUSINESSES CAN NURSE PRACTITIONERS START?

The sky is the limit for NP-owned businesses. Do you enjoy teaching? Then writing CEUs’ or coursework or owning a medical education company would be right up your alley. Are you a natural salesperson? Then why not try your hand at owning a medical supply company? How about a desire to help other nurses find satisfying work? Nurse practitioner-owned employment agencies are very popular. If you are great at technology, your skills will make you an excellent medical software developer.

Where your heart and your special abilities lie should lead you towards nurse practitioner business opportunities that you will love and create a successful endeavor. And nurse practitioners can apply their valued experience and soft skills to ventures outside the medical or healthcare realms. Are you tired of nursing and the medical field altogether? You need not stay within your wheelhouse if you have a passion outside of medicine. LinkedIn illustrates many a nurse who is a successful business owner in areas beyond nursing, such as nurse-owned SJF Communications, a production company, where nursing credentials are just a tiny part of this social media guru’s entrepreneurial leaders’ qualifications.

AARP even points out that a hobby can lead to a successful business idea. Many a nurse is creative or artsy. If you love to cook and decorate cakes like a pro, who says that nurses cannot build their own cake-decorating and catering empire?

WHAT ARE THE 5 THINGS THAT MAKE A GOOD NURSE PRACTITIONER BUSINESS IDEA?

The basis of any new start-up business is the same for NPs as any entrepreneurial venture owner. Doing your research before jumping into any business is essential for success.

Tips for successful nurse practitioner business ideas are:

1. It all starts with an idea.

Nurse practitioner business ideas are borne out of a small seed of a concept that can turn into a brainchild of a venture. Find a niche that excites you or is lacking and necessary in the health industry (or the business world). Many prosperous ventures are based on a tiny idea that hatches into something big. For example, Sara Blakely was getting dressed for a party and wished there was an undergarment to smooth out the bulges that are so prevalent when wearing women’s party clothing. Thus, the idea of Spanx was born out of necessity for women of all ages who fought the same fight as Sara and understood the value of a good undergarment.

2. Have a plan.

To launch a fruitful business, you must first have a plan. In the world of free enterprise, this is termed a business plan. A business plan is an essential prerequisite for any start-up to use as a self-written guide for loans or to follow as you develop and execute your venture. This plan will help you to stay within your budget and timeline to keep your business moving forward. You can write this plan yourself. However, as many NPs find, we are not trained or experienced in business start-ups, so employing a professional such as a lawyer or consultant specializing in business plans to assist in the formulation of a successful proposal may be helpful.

I am one of the nurses who knew nothing about business. Standard business terms such as business plans, EINs, and LLCs were like a foreign language to me. When I found two nurse writer mentors and a “start your nurse writer business” course that led me step-by-step in formulating my own writing business, I jumped at the chance for the much-needed guidance. I could never have started my venture without this assistance.

3. There is a need.

You may be an incredible women’s health NP with loads of experience. Still, if you decide to go out on your own and be a consultant for pregnant women in a city where this endeavor is a dime a dozen, your greatest abilities may not be enough to make your business a success. It is never a good idea to duplicate a business venture in a saturated field unless you can add your own unique twist.

4. Flexibility.

If you are dead-set on producing XY and Z medical supplies and, after research, find that Z is not worth the time and effort, you need to be able to flex to other ideas that will “sell” your product. What you initially visualize as your dream business may morph into a very different venture as time passes. Some of the best nurse practitioner business ideas are born one way, only to grow up looking quite different as they mature.

5. Cost. Let’s face it.

Nobody wants to go broke over a business that breaks the bank. You will need to consider start-up costs as well as overhead once you get established. For example, although there is a great need for daycare for children with special needs, the cost of employing nurses to care for the daily needs of a medically complex child may sink even the most well-intentioned daycare business. Most parents simply cannot afford the cost of specialized daycare such as this venture idea on an ongoing basis. This is where a well-thought-out business plan will catch this flaw before you begin your business, and it becomes a money pit.

WHAT ARE 2024’S BEST BUSINESS IDEAS FOR NURSE PRACTITIONERS?

(Discover 20 Solid Nurse Practitioner Business Ideas that will help you start a successful business in 2024.)

#1 NP BUSINESS IDEA: Drip Bar

About the Business:

Shortly before the pandemic, a new and unique healthcare business popped up. This enterprise, called a Drip Bar, has become increasingly popular and can now be found throughout the US. Franchises are available for providers, NPs included, interested in owning an established business, or you can set up your own Drip Bar with your individual imprint.

Dr. Robert Schmerling at Harvard Health explains that a Drip Bar is an intravenous hydration venue where patients can walk in and obtain the “drip cocktail” of choice without a provider’s order. There are even mobile Drip units that go to hotel rooms, clients’ homes, or offices on demand. I have even heard of one instance where a nurse, IV pole in hand, met a client in a park. You may ask why anyone would want an IV that was not doctor-prescribed. Many people find this phenomenon beneficial for hydration needs due to illness, hangovers, jet lag, or after a strenuous workout. When not ill enough to go to a hospital, some realize relief from simple salt and water rehydration or a mix of revitalizing vitamins and minerals.

Skills Required to Be Successful in this Business:

Your venipuncture skills and IV experience will be your best asset for owning a Drip Bar. Leadership skills are a plus if you plan to hire nurses to work with you.

How Much Can You Make in this Business:

You can set your prices for drip bar treatments as they are not covered by insurance. If you cater to athletes, top execs, and the Hollywood elite, you may get away with charging $500 for each visit. However, the average cost for a drip session is between $199 to $399 for each infusion. With low overhead costs for this business, you should realize a handsome profit.

The Future Outlook for this Business:

The Drip Bar industry is still very fresh and may seem futuristic. It is hard to predict if this enterprise will be a flash-in-the-pan and disappear in a few years. However, this concept may take off due to increasing distrust of the medical system and people taking their healthcare into their own hands.

#2 NP BUSINESS IDEA: Mobile Infusion Unit

About the Business:

Mobile Infusion Units are traveling infusion teams that can go to patient homes, long-term care facilities, and even smaller hospitals. Portable units such as Versafusion were born out of necessity during the Covid pandemic to provide much-needed Monoclonal Antibody Transfusions. In addition, blood transfusions and other types of infusions are administered conveniently to the patient in their current environment. NP owners can work solo administering infusions or employ a team of nurses to help out.

Skills Required to Be Successful in this Business:

Intravenous and venipuncture skills and experience are necessary for this enterprise. If employing nurses, excellent communication and management experience is a plus.

How Much Can You Make in this Business:

As a mobile infusion unit owner, you can expect to make more than the average salary of a portable infusion nurse. ZipRecruiter quotes this RN wage to be $84,529 annually. Overhead should be low for this business which is a plus for a new start-up owner.

The Future Outlook for this Business:

Many of the healthcare changes resulting from Covid are here to stay. Mobile medical care is one of them. I predict that Mobile Infusion Units will continue to be sought and successful due to the convenience of this service.

#3 NP BUSINESS IDEA: Health Writer

About the Business:

NPs can write health content for a variety of clients, such as health provider educational materials, textbooks, pharmaceutical, and medical supply companies, as well as health journals and online sites. Freelancing as a health writer typically involves the NP setting up her own writing business. With basically zero overhead, this type of NP-owned enterprise can literally start up with just a computer in your bedroom. For example, I was able to transition from bedside nursing to a freelance nurse writer with only a 6-week online writing course, a little determination, and my computer.

Skills Required to Be Successful in this Business:

Obviously, not all NPs have exceptional writing skills, but many certainly do. Having the knack to put pencil to paper in an understandable manner is the main prerequisite for this business. The ability to research effectively, give attention to detail, stick to a self-determined schedule and meet deadlines effectively will serve you well as a health writer.

How Much Can You Make in this Business:

Health writers make between 10 cents per word and $1 per word, with the average making somewhere in the middle. Experience and your writing niche can influence pay, with oncology and technical medical writing paying better than more general fields of medicine.

The Future Outlook for this Business:

Per the US Bureau of Labor and Statistics (USBLS), writing as an occupation, in general, is expected to grow by 4% through 2031. With health being a hot topic, health writers should have an excellent job outlook.

#4 NP BUSINESS IDEA: Health Writing Coach

About the Business:

Nurse practitioners who have gained valuable experience as health writers can turn their expertise into a flourishing writing coach business. Savvy Nurse Writers is the perfect example where nurse owner Janine leads nurses and nurse practitioners through the steps to set up their own lucrative writing business. Through coursework, podcasts, and mentoring, Janine teaches NPs how to earn extra income by creating alluring and well-researched health and nursing content. She explains that many nurses and NPs even quit bedside nursing altogether and go all-in as a full-time health writer.

Skills Required to Be Successful in this Business:

Once you are a successful health writer, your writing expertise, experience in this field and willingness to help new NP writers can make you an excellent writing coach.

How Much Can You Make in this Business:

Health writing coaching is a novel idea for NPs. This newly emerging enterprise makes estimating how much you can make in this business a challenge. Six-figure salaries are not out of the question. Most NPs would only bother to be in this business if they could make a profit at least comparable to the average NP salary, which Indeed.com lists as $123,272 annually. One of the pluses of a writing health coach is that overhead is very low.

The Future Outlook for this Business:

Health writers are in demand. Currently, writing for profit and owning a business are not (typically) discussed in our undergrad or graduate curriculum. NPs need to learn the specifics of health writing and the innuendoes of owning a business. Thus, health writing coaches are very much required to launch and assist future budding nurse writers.

#5 NP BUSINESS IDEA: Staffing Agency

About the Business:

Many medical staffing agencies are nurse or NP-owned enterprises. Operating from their home or small office, NPs can recruit and find employment for medical staff in various locations. As one of the more common and solid nurse practitioner business ideas, NP owners operate in a more managerial role in a staffing agency, hiring professionals and working with hospitals and other entities needing nurses and providers.

Skills Required to Be Successful in this Business:

Prior management experience is helpful but not required for this venture. Excellent communication and the ability to choose the right people to assist with payroll, bookkeeping, and the business end of your enterprise are key.

How Much Can You Make in this Business:

As an owner of a staffing agency, you have the ability to make at least a $103,000 profit annually. You can expect to bring in more than this figure but plan for more business expenses due to the nature of the industry.

The Future Outlook for this Business:

The US will always need medical staffing agencies. With our current medical staffing environment, we are in critical need of this business as hospitals, nursing homes, and ambulatory organizations cannot find adequate staff independently.

#6 NP BUSINESS IDEA: Mobile Hospital

About the Business:

One of the newest nurse practitioner business ideas is that of operating a private mobile hospital. You may wonder if this idea will ever fly. Surprisingly, it has been gaining traction since the Covid pandemic. These units typically operate out of large vans, tractor-trailer beds, or camper-type trailers. Patients may be seen in their homes, community centers, churches, or long-term care facilities. Inside these vans are labs for blood work, x-rays, and other tests. NPs and nurses staff the traveling facility to perform “house calls” and make total home care possible and convenient for patients.

Skills Required to Be Successful in this Business:

As the business owner, your role can be strictly managerial. In that case, savvy business expertise is essential. However, if you are a mobile hospital provider, all your NP skills will be called into practice. This venture will operate similarly to any clinic so that you will diagnose and treat various ailments and patients.

How Much Can You Make in this Business:

There is no actual documentation regarding the profit that a mobile hospital owner averages. Purchasing a mobile unit will be very costly, so don’t expect to make much of a profit for the first year (typical for many start-ups).

The Future Outlook for this Business:

Mobile hospital units are becoming very popular, and it is not uncommon to see them at many local community centers and churches.

#7 NP BUSINESS IDEA: Nurse Product Reviews

About the Business:

Who better than nurses can give a stamp of approval for new medical products on the market? NP-owned business, Nurse Approved, has nurses test out healthcare-related products and write reviews based on real nurse experience of the merchandise. This company hires nurse testers who then write an expert product review where the supplier hopes to gain a coveted “nurse seal” of approval.

Skills Required to Be Successful in this Business:

Basic writing skills and excellent communication abilities are necessary for the reviews. This endeavor hires nurses to review and write, so editing and people skills are needed to keep the business successful.

How Much Can You Make in this Business:

It is hard to gauge how much you can make in this venture. As with many entrepreneurial nurse practitioner business ideas, you may be blazing new trails in nursing innovation. It is a bit risky and hard to predict, but the payoff may be worth it.

The Future Outlook for this Business:

Although it is difficult to predict how well this business will do in the future, it is a fantastic idea and makes sense that merchandizers would want the approval of the nurses who use the products. Therefore, there is a good chance that this kind of venture will be successful.

#8 NP BUSINESS IDEA: Medical Software Developer

About the Business:

NPs may not be a natural choice for software development and this may be one of the more unlikely NP business ideas. However, electronic medical records and health-related hand-held devices are in our wheelhouse. Who would understand what health staff needs from such programs more than an NP with the experience of both a nurse and a provider?

Skills Required to Be Successful in this Business:

It is unlikely that you will be able to develop your own software program without some prior experience in this field. However, there are many nurses and NPs who have transitioned their careers into software development. Most first work in a medical software development firm prior to venturing out on their own with their solo product. Even if you are very savvy with technology, taking a software development course is wise before spending time and money marketing your program.

How Much Can You Make in this Business:

The profit of a software developer can be pretty lucrative. I am aware of a developer who was fortunate to hit upon a program that has made him a millionaire. Most of us may not be that lucky, but software development is a very profitable field. But keep your day job, as the outcome can be very hit or miss.

The Future Outlook for this Business:

A recent study shows that the IT world plans to funnel 4.5 trillion into the industry this year with no slowdown. With that kind of capital pouring into software development, you can be assured that this industry will remain profitable.

#9 NP BUSINESS IDEA: Private Provider Services

About the Business:

When a healthcare faculty or corporation needs provider services, it is often not an easy or fiscally sound task to accomplish. The nurse practitioner group is an NP-owned provider network that offers services such as hearing and vision testing, drug testing, physicals, health fairs, heart and diabetic health, wellness coaching, and much more. With such offerings, provider services for hire are just a phone call away for employers or health entities seeking services.

Skills Required to Be Successful in this Business:

The nurse practitioner group started modestly with a mobile van and an NP. All your skills will come into play if you are one of the providers for hire. Once you build your mini-empire, your business and leadership acumen will keep your enterprise on the right track.

How Much Can You Make in this Business:

Nurse practitioner business ideas like this can be quite profitable once your venture starts running. Since overhead is low, you can expect to clear upwards of $150,000 annually.

The Future Outlook for this Business:

The outlook for private provider services should be in demand. With healthcare institutions continuing to alienate their medical staff and providers, more and more NPs and physicians are looking for creative alternatives outside of large institutions to provide quality care for patients needing services.

#10 NP BUSINESS IDEA: Private Aging Care Provider

About the Business:

For NPs with a passion for our seniors, direct patient care provided by a private nurse practitioner can be a practical answer for families and long-term care facilities. Nurse practitioner-owned company, Complete Heath Service Inc, does just that. Providing NP house calls for aging adults and provider services to senior healthcare facilities, this Illinois-based operation is one of the solid nurse practitioner business ideas where you can utilize your area of expertise to branch out on your own as a small business owner.

Skills Required to Be Successful in this Business:

In this endeavor, your assessment, examination, and diagnosing skills will play an essential role in your daily practice. Being able to market and communicate your business effectively will get your foot in the door where you can do what you do best; nurse your patients.

How Much Can You Make in this Business:

NPs in this type of business can only charge the going rate for a nurse practitioner, which is approximately $118,040 annually. There is practically no cost (except your time) to launching this type of enterprise, so once your minimal start-up cost is done, your income should be relatively free and clear from expenses.

The Future Outlook for this Business:

Nurse practitioners are needed in every aspect of healthcare. NPs are just dipping their toes in the water of private practice. I foresee an increase in this type of venture once the public is more accustomed to the services than an NP can provide.

#11 NP BUSINESS IDEA: Health and Wellness Coach

About the Business:

LinkedIn illustrates that many NPs have started their own business as health and wellness coaches. As a health coach, you can work in your own practice online or in an office (or in patient homes) to help clients develop and manage a health plan for physical and emotional wellness. This usually includes nutrition, exercise and mind-body guidance.

Skills Required to Be Successful in this Business:

As one of the more common nurse practitioner business ideas, a health and wellness coach is a natural component of nurse and NP skills. As skillful communicators and teachers, our innate ability to coach patients toward wellness is a natural extension of our everyday practice approach.

How Much Can You Make in this Business:

Wellness coaches typically are not at the top of the healthcare provider pay scale. This may be mainly due to the fact that most of the cost is out of pocket for patients. Unless you land profitable contracts through Medicare or insurance companies, you can expect to make around $50,000 to $100,000 per year, according to a 2021 report. Many working NPs become health coaches as a side hustle or once they retired from clinical work.

The Future Outlook for this Business:

Health coaching is slowly becoming an integral part of the healthcare industry. If this trend continues to be popular, you can expect a business venture such as this to remain in demand.

#12 NP BUSINESS IDEA: Nutrition and Diet Program Owner

About the Business:

Many underestimate the knowledge base of an NP when it comes to nutrition. We commonly incorporate nutritional guidance into many treatment plans on various issues. As a nutrition and diet services business owner, you will assess clients’ baseline health and monitor their health and response to treatment throughout their nutritional regime. Additionally, you may be marketing and selling supplements and specific diet plans, such as those offered in the popular vegan diet plan called Plantable.

Skills Required to Be Successful in this Business:

You will be working directly with consumers, so your communication and sales skills will come into play daily. Once you have clients, you need proven results to market your product further, so pre-launch research for the most effective and reasonably priced product will help keep your business going.

How Much Can You Make in this Business:

Nurse practitioner business ideas to explore in the nutrition and diet field are expansive and can prove quite lucrative. Some NPs choose this venture as a side niche, but for those who want to go all in and make a full-time go at this type of venture, you can expect to earn upwards of $150,000 per year.

The Future Outlook for this Business:

The CDC reported a recent study that shows adult obesity in the US to be 41.9%. With this startling fact, nutrition and diet programs should be at the top of the list of “to-dos” on a provider’s shortlist for many patients who can not lose weight on their own.

#13 NP BUSINESS IDEA: Private Practice

About the Business:

Establishing and owning your private practice is one of the nurse practitioner business ideas that is catching on quickly. The ability to work independently will depend on the scope of practice for your state. I have had the fortunate experience of being a patient of a knowledgeable FNP turned naturopathic wellness center owner. She is the sole provider of the practice, with only a secretary as an employee. Visits are extensive and unhurried, with patient satisfaction high.

Your expertise can direct which type of practice you wish to establish. Some NPs work alone, while others hire nurses and other medical personnel to round out their teams.

Skills Required to Be Successful in this Business:

Depending on your role in your private practice, you can either be managerial or clinical. Either way, you will be marketing yourself and your practice, so communication skills are necessary. You will likely be a practicing NP, so your assessment and diagnosing wisdom will be utilized for patient visits.

How Much Can You Make in this Business:

Startup costs can be considerable if you buy or rent space for your practice. If you are fortunate to have a space available in your current home and have minimal initial outlay, you can expect to make $109,406 annually per Indeed.com.

The Future Outlook for this Business:

The idea of NP-owned private practice is a bit slow to catch on but should continue to progress as more and more patients become familiar with the excellent quality of care that nurse practitioners provide.

#14 NP BUSINESS IDEA: Public Speaker

About the Business:

Have you ever heard a motivational speaker who touched you, inspiring you to be a better nurse practitioner and human being? Well, if you have the gift of public speaking, that speaker could be you! We all have nursing stories to tell and experiences to share. Some NPs write, others teach, and a few jump on the speaking circuit to share and stimulate others. I know a nurse practitioner who writes, speaks, and consults on one narrow subject: Migraines. She has a very successful business based on what she knows best. Because of her knowledge of the subject, she is known as the migraine expert and tours the country speaking on this subject alone.

Skills Required to Be Successful in this Business:

If you have a nursing passion like Rebecca Love shares on Ted Talks about “EntrepreNursing” or have a funny bone to share a humorous motivational story like Karyn Buxman, you have what it takes to become a public speaker on any variety of topics. Overhead is pretty much nonexistent in this enterprise. If you are savvy with technology, you can take your speaking to new levels through the web by reaching your audience via podcast. Use whatever communication gifts you have to provide educational, motivational, inspirational, or humorous content to the masses.

How Much Can You Make in this Business:

There is much variation in fees for this niche, but sources say that professional speakers should charge between $5,000 and $25,000 per presentation.

The Future Outlook for this Business:

Podcasts are now taking off like wildfire. Also, webinars and conferences will continue to be necessary to motivate and teach others, so you can expect to be in demand as a public speaker in the future.

#15 NP BUSINESS IDEA: Cannabis Store Owner

About the Business:

One of the more recent great NP business ideas is that of a career in the cannabis industry. You can set up a lucrative cannabis business in many different ways. One way to cut out all overhead is to be a cannabis medical consultant. You can broker your medical expertise in this niche and travel between herbal shops and freelance as their provider (which is always in demand). Another possibility is to set up a brick-and-mortar store and sell your products. A more convenient and less expensive option may be to sell your expertise and product online.

Skills Required to Be Successful in this Business:

Depending on the direction you choose to pursue this type of business, the skills needed for success may vary. Either way, you will need marketing prowess and adequate communication abilities. If going in the online direction, you will need to be very tech-savvy or hire someone who can perform the technical end of the job to get you set up with an online dispensary.

How Much Can You Make in this Business:

According to COVA, a cannabis software company, a cannabis business owner in the US makes “$2.1M to $3M in gross revenue with at least 12% profit, which translates to a minimum gross profit of $240,000”. With the possibility of making that kind of profit, it’s no wonder that dispensaries are popping up on every corner!

The Future Outlook for this Business:

With more and more states legalizing marijuana, the cannabis industry is booming. NPs are ideally situated to jump right into the middle of this bandwagon and ride the tails of success for this lucrative venture.

#16 NP BUSINESS IDEA: Medicare Home Risk Assessment Service

About the Business:

Cut out the middle man and start your business performing Medicare home risk assessments. You will be a solo NP in this practice, where you will assess residents in their homes for Medicare. This is one of the simpler small business ideas for nurse practitioners that you can do as a side hustle or build into a full-time practice.

Skills Required to Be Successful in this Business:

For those NPs working with our senior population, chances are you already have the skill set to set up this type of business. Your assessment abilities will be the primary skill required as a Medicare risk assessment private provider.

How Much Can You Make in this Business:

The Elite Nurse Practitioner states that you can expect to be reimbursed between $250-$300 for each assessment. With little to no out-of-pocket cost to you, this venture is a win-win idea.

The Future Outlook for this Business:

This is a needed service expected to grow as more and more of our population ages into Medicare.

#17 NP BUSINESS IDEA: Mental Health Clinic Owner

About the Business:

As a mental health clinic owner, you will be providing the same services that you would find in a psych practice. You can tailor your private clinic to your particular psych niche such as ADHD services or substance abuse guidance. You can build this type of psych practice from scratch or, better yet, enlist the help of a proven team of experts who can develop your clinic and help you to grow into a successful business owner. The beauty of a mental health service is that you can efficiently conduct your assessment and treatment via telemed, keeping your overhead very low.

Skills Required to Be Successful in this Business:

You will need to draw from your arsenal of psych experience to be a successful mental health private clinic owner. Of course, your credentials must be that of a psychiatric nurse practitioner. If you choose to go solo and practice via telemed, you should already have the skills as a mental health nurse practitioner to conduct your practice. All you need to do is establish and market your business.

How Much Can You Make in this Business:

Indeed.com quotes the pay of mental health nurse practitioners as $136 580 on average annually. You should expect to meet or exceed this amount as a business owner.

The Future Outlook for this Business:

Mental health practitioners are in demand at present, and the need is expected to remain high due to the rise in psychiatric disorders in the US. Nurse practitioner business ideas pertaining to the mental health industry are typically one of the more successful endeavors due to the demand for this type of service.

#18 NP BUSINESS IDEA: Consultant

About the Business:

Once you have experience as an NP, you will be considered an expert in your field. Being a consultant in your area of expertise is one of the best nurse practitioner business ideas, as it is a natural progression of your career. People want to learn from an NP who has been there. The options are wide open regarding what type of consultation service you can provide. It all depends on your experience and expertise. You can be a consultant to hospitals, colleges and government entities, to name a few.

I receive numerous requests monthly from nurse practitioners and nurses who are interested in becoming a health writer. Although I don’t charge a fee, I do provide my consultation services as a favor to my fellow colleagues. However, I have seen some of my peers with as little as 2 years of writing experience, set up nurse writer consultant services.

Skills Required to Be Successful in this Business:

Although your credentialing and experience will get your foot in the door as a consultant, you will need to sell yourself once you have some interest in your services. Excellent communication and marketing skills will come into play to operate a consultation business successfully. You obviously were smart enough to get through NP school. Utilizing the know-how that helped you to persevere while taking your classes and going through clinical rotations will serve you well as a consultant.

How Much Can You Make in this Business:

With so many different types of consultants to choose from, it is difficult to quote average earnings for this category. However, HubSpot did indicate that a healthcare consultant can make between $91K and $131K annually.

The Future Outlook for this Business:

Consultants will always be needed in the medical industry. Someone needs to be the expert to lead others, so why not you and your fellow NPs?

#19 NP BUSINESS IDEA: Private Educator

About the Business:

Another consideration is starting a school to offer CEUs and more in-depth training for NPs, nurses, and other types of medical personnel. You may have already seen some of these types of nurse practitioner business ideas on Facebook and in your feeds. You will use your expertise to train others either in person or through online courses. In 1980, seven nurse practitioners from the New England area established NPACE, an organization that educates NPs nationwide. Over the years, in-person educational NP conferences have been supplemented with online courses and CEUs to provide our specialty with quality and convenient programming. What started as a small idea has blossomed into a nationally renowned nursing resource.

You don’t have to go on a national circuit or own your school to be a successful educator in this business. NPs can start as simply as writing a CEU course. Use your expertise in one specific area to educate others. Companies like Nurse.com are looking for NPs like you to write CEUs for them.

Skills Required to Be Successful in this Business:

You also do not need an educational degree for this venture. You take your experience and mold it into a brief CE unit, or if you desire, you can expand it to a credit course. There are brief courses teaching you how to become a nurse CEU and course writers which will help to guide you. (P.S. Once you gain experience writing CEUs and health-related courses, you can create a “course on how to write a course”). If you own this business, you will serve in a leadership and editorial role, nurturing other NPs who register for your school or want to write for you. Marketing skills are essential to promote your enterprise.

How Much Can You Make in this Business:

Your income may vary widely depending on the length of the CEU or course. Fees for this type of service can range from $10 to thousands of dollars. If you are starting out, it is wise to keep your day job and gain experience and momentum in this field over time.

The Future Outlook for this Business:

Medical staff and nurse practitioners will always need continuing education credits, as well as updated training courses. Thus, if you choose to become a private educator for healthcare professionals, you will continue to be in demand.

#20 NP BUSINESS IDEA: Wound and Foot Care

About the Business:

NPs working as wound and foot care specialists can work either in patients’ homes, travel to long-term care facilities, or set up a specialty practice in an office. Many nurse practitioners will take a wound and foot care course and then have the skills to set up shop in this specialty area. In this niche, NPs safely cut toenails and care for foot fungus and diabetic ulcers. They also evaluate more complex foot disorders, such as bunions, and refer them for appropriate treatment.

Skills Required to Be Successful in this Business:

Assessment skills, along with specific training or experience in foot and ulcer care, will help an NP in this field. You will primarily be working with elderly patients, so a heart for this age group and a gerontology nurse practitioner degree will help you relate and understand these patients and their concerns.

How Much Can You Make in this Business:

Unless you open an office, the overhead for a wound and foot care NP (travel) clinic is very low. As one of the best nurse practitioner business ideas for those looking for a well-paying yet easy-to-establish NP niche practice, this endeavor may be a wise career move. Since your primary source of income will be Medicare and Medicaid reimbursement for your services, you can expect to make at least the going rate for NPs in this specialty, which is $ $103,912. As a business owner, you should be able to make a higher profit than this average figure.

The Future Outlook for this Business:

There is a market for wound and foot care. Recently, I had a hospice patient who needed foot care in the home. The hospice agency was regretful to inform me that they did not have anyone on staff to do the job. The nurses were not even allowed to cut dying patients’ toenails. I also have a friend whose mother is in a senior living facility that does not provide service for foot care needs. These 2 instances verify that there is a need for this type of care and should remain so in the future.

7 NECESSARY STEPS YOU MUST TAKE TO SET UP YOUR NURSE PRACTITIONER BUSINESS

Before leaping headfirst into one of these unique nurse practitioner business opportunities, there is much to learn in the business side of the work world. My work experience was that of an employee, not an employer. I had a tough learning curve to climb before I felt comfortable in my new entrepreneur nurse shoes.

Here are essential steps to take to set up a successful NP business.

1. Don’t Plan in a Vacuum.

You will need support, so it is important to network, network, network! Talk to other professionals in the business world. Bounce your ideas off NP entrepreneur support groups. Enlist support from those who are experts in the field of setting up and managing a business, such as business attorneys and CPAs.

Get on LinkedIn and start connecting with all types of business owners, including nurse practitioner innovators. I was amazed at how valuable this source was for networking.

2. Paperwork, Paperwork!

This one surprised me and was my least favorite part of setting up my nurse writing business. You need to officially open a company with a registered name and business bank account. In addition, business licenses and permits are necessary for many NP ventures. You will need to get an NPI number and Tax ID number. For those billing Medicare, begin the credentialing process with Medicare ASAP, as this piece may take a while.

3. Set up a Business Plan.

As stated earlier in this article, your business attorney can help with this strategic outline of how you will set up and run your business. You will also need this plan if you are going for a bank loan.

4. Study the Market.

Understand the demand before wasting your time and effort on an oversaturated market. Due to the competition, some nurse practitioner entrepreneurial ideas may not be feasible in certain areas. In that instance, relocation or online services may be an option for a successful venture.

5. Talk to a Bank.

If you need to secure a loan, this step is essential before you start up your enterprise. Have the promise of money in hand before proceeding any further with your NP business plans.

6. Scout Out a Spot.

Find out the cost of office space where you want to locate and availability before investing in your NP business. If you are going mobile, research the availability and price of a mobile unit that will suit your needs.

7. Look into Marketing and Advertising.

Although you may hate spending more money on marketing and advertising, these 2 elements are essential to launching a business. You may need to mentally wrap your mind around this expenditure since, without expert help in this area, many nurse practitioner business ideas will fail.

BONUS! 8 QUESTIONS TO ASK YOURSELF WHEN DECIDING WHICH NURSE PRACTITIONER BUSINESS IDEA IS THE BEST FOR YOU

1. Do others think my idea is a good one?

When bouncing nurse practitioner business ideas off of friends, family, and colleagues, gauge their reactions. Do they seem genuinely excited about your proposed venture, or does it seem more like they are only lukewarm about the idea (or just telling you what you want to hear) or raising questions about pitfalls and roadblocks? If others are enthused about your “product,” it is likely that your clients will be, also. It is never wise to dismiss the concerns of others when planning your start-up. They may be able to see past your rose-colored glasses and provide insight that you may miss.

2. Will this idea prove lucrative?

If you go out on a limb for a small or large business endeavor, you want to have a pretty good idea if you will make money. Sometimes a partner (or mentor) with business experience will help guide you and keep you on track regarding money decisions.

3. Is it a good time in my life and career to venture in a new direction?

Consideration needs to be given to the best time to start a new business as it pertains to your life circumstances. Few nurse practitioners are in the position to begin a business right out of school. On the other hand, your life outside of work needs to be in a spot where you can devote additional energy to birthing a business. When these two stars align with your career planet, you may have a lift-off that proves successful.

4. What are the start-up costs?

Some NP business ideas barely warrant a trip to the bank, while others can require substantial capital. Even if you have saved money or acquired a loan for your venture, you need to weigh the start-up costs vs. your potential for capital gains. If the cost of a mobile travel unit far outweighs what you can bring in beyond the start-up years, your business won’t have a chance to succeed.

5. Will I be happy being my own employer?

Are you your most trusted friend, or will you wither away if on your own due to loneliness and the inability to organize a business as it should? Before taking such a mentally and financially risky leap, do some self-examination. Do you have perseverance, self-confidence, and motivation? If the answer is yes to all of these questions, then you should enjoy being your boss.

6. Is this idea something that I am passionate about?

Loving what you do is a catalyst to branch out in your field. Once you launch your novel venture, you will be dedicating many years to your business. Having a passion for your idea will not only ignite your NP business at the beginning but also keep it lit for a long time as you develop and polish your business along the way.

7. Do I have the experience necessary for this type of business?

Business ideas for nurse practitioners should be based on your area of expertise. Once you feel that you are an expert in your field, then you can branch out as an educator, consultant, or work in private practice.

8. Should I quit my current job?

Most new businesses start out slow, and some fail within the first year. Keep your regular job or cut back a bit at the beginning of a start-up. Look at your options for your current job and see if there is any flexibility to accommodate your new venture, and then keep working to maintain a cash flow. Also, some nurse practitioner business ideas are better suited for side jobs where you can keep your full-time position.

My Final Thoughts

As you can see from this article, “20 solid nurse practitioner business ideas for 2024”, nurse practitioner entrepreneurs are innovators who think outside of the box. The type of NP-owned businesses are as diverse as the nurses themselves. For some NPs, creating your own destiny may be the answer to what are the best business ideas for nurse practitioners? There is no one size fits all idea for unique and successful business ventures. Your extraordinary brain, expertise, and ingenuity will shape the path toward a worthwhile enterprise. As James Baldwin said, “the place in which I’ll fit will not exist until I make it.”

I have always told inspiring nurses that the beauty of being a nurse is the variety of jobs that are available. You can actualize your own professional nurse practitioner dream career however you want. With new entrepreneurial possibilities added to the list of jobs, we no longer need to be confined to the traditional NP career box.

FREQUENTLY ASKED QUESTIONS ANSWERED BY OUR EXPERT

1. What NP Business Idea Is The Most Profitable?

With a gross profit of $240,000, a cannabis store owner may be your most lucrative business idea. Also, NP consultants and public speakers have a high earning potential.

2. What NP Business Idea Is Most In Demand?

Wound and foot care is a niche where there is a great demand. Additionally, NPs are still very much needed in the cannabis industry.

3. Which Is The Cheapest NP Business To Start?

NP businesses with the lowest start-up costs and overhead are writers, public speakers, and those in education, such as CEU and course writers.

4. How To Become A Nurse Practitioner Influencer?

Most of the ideas presented in this article have courses that you can take to get your NP business idea started. Simply google whatever your heart desires for your NP business ideas and type in “course,” and you should be able to find help to get launched. Also, look into Nursepreneurs and The Elite Nurse Practitioner sites for more ideas on how to get started. Podcasts and social media are the best way to gain popularity as an online influencer. There is much on the web about this topic, so a bit of research about social influencing on google will give you numerous ideas to gain traction. IZEA is an excellent place to start for examples of nurses who are successful influencers.

5. What 3 Small NP Businesses Have The Highest Profit Margins?

Drip bars and mobile infusion practices have the potential to make much profit. With start-up supplies mainly only IV solutions and poles, you can charge high-profit margins depending on the client. Additionally, any telemed private practice should do well financially as you have virtually zero cost except marketing.

6. What 3 Nurse Practitioner Business Ideas Are The Best For New Grads?

New grads may have more challenges starting up a business. However, with your nursing experience, you are in a better position than other types of recent grads who do not come with an arsenal of useful insight and exposure. I have seen many new grad NPs who write CEUs and courses. Being fresh out of school gives you impressive insight into what is most up-to-date in the health industry. Since NPs are not clinical cannabis experts, new grads have just as much potential in this venture as experienced NPs. Who is better at technology than a recent college grad? New NPs may be even more adept at software development than their more experienced peers.

7. Which Is The Best NP Business Idea In Clinical Practice?

Any telemed clinic in your specialty has a great chance at being successful. Mental health services via telemed are particularly welcomed by patients due to anxiety and depression making it hard to travel to a brick-and-mortar office.

8. Which Is The Best NP Business Idea In Consulting?

Nurse practitioners are in demand for consulting services for medical professionals, hospitals, and medical product developers.

9. Which Is The Best NP Business Idea In Education?

Having your own NP-owned company to provide specialty medical courses and CEUs are popular in the NP entrepreneurial world.

10. Which Is The Best NP Business Idea In Retail?

NPs who sell online products such as scrubs, stethoscopes and, nursing books that nurses and nurse practitioners use daily have a definite edge.

11. What NP Businesses Can I Start From Home?

There are a multitude of NP businesses that can be successful from the convenience of your home. Health writing and preparing educational courses are typically conducted from home. Additionally, most online retail and telemed services can be accomplished from home.

12. What Nurse Practitioner Business Ideas Are Best For A Side Hustle?

Health coaching, writing, consulting, and, speaking are great NP side hustles that can also morph into a full-time career.

13. How Can I Start My Own NP Business With No Money?

It is advised to keep your NP start-up ideas simple. You can expand as your business grows. Utilize free resources for adverting your enterprises such as LinkedIn, Facebook, and Instagram. Also, networking will help to build your business at no cost.