When you're a new therapist and are interested in setting up a private practice, one important thing to know is that you don't need to do it alone. Instead, you might seek out another new therapist — perhaps a friend who went to school with you — and decide to set up your practice together. While there can be some challenges to approach your new business in this manner, you may find that the positives dramatically outweigh any challenges that you encounter, which can make you happy that you made this decision. Here are some reasons that it's smart to set up your practice with a partner.

It Reduces Your Investment

At a time that you might be a little short on money because you're not earning any yet, it's nice to have someone with whom you can share the expenses. Starting a therapy private practice has a number of costs, including securing a location, paying the first and last months of rent for it, decorating the space, developing a website, getting business cards, and a lot more. When you have a partner with whom you can split these initial costs, you may feel as though you can stretch your money further to start your business without having to cut corners.

It Provides Emotional Support

A partner who jumps into setting up a therapy practice with you can also provide emotional support. Getting your practice started can be exciting, but there are also challenges associated with it. For example, if you aren't inundated with clients right away, you may quickly question yourself and wonder if this is the right career path for you. Having someone alongside you means that this person can encourage you when you're feeling any doubts — and you can do the same for him or her.

It Can Help Your Skill Development

Even though you've recently completed your therapy training, you should always be open to learning more. You can augment your skills, especially once you begin working, by having a partner. You can talk to each other about your approach with clients, and if you're stuck with knowing how to help one, your partner may have some suggestions. You may both be eager readers of therapy books and constantly be sharing what you've learned with one another, which can help you both feel as though you're developing your skills as you get your business up and running together.