Fran Nelson, C-FNP, Ph.D. Owner, Director and FNP Care Provider Nelson Family Clinic, LLC , Hilbert, WI

How did you finance start up and how do you maintain your finances?

Ownership and legal structure: The clinic is a Partnership, LLC although I practice alone. I choose this structure for its tax advantages based on the advise of my lawyer. I did not know anyone else interested in group practice and I had no existing patient base to build a practice to support more than one person. My husband, the PA, and I are the owners. We hire the MD and pay him as a consultant for his record review and paper oversight.

Start up Financing: To start the clinic in 1997, I took out a $30,000 line of credit with my home as collateral. That was plenty because I didn't draw a salary until August 2001. I netted $30,000 in 2001. My annual intake is about $200,000 and my expenses about $170,000.