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Writing a Business Plan for a Dental Practice
Posted On 08/04/2017 07:45:52 by Raytrey

A lot of people go into dental practice as a profession, but putting up and maintaining a clinic also requires some business acumen, especially if you will be venturing out on your own. While some dentists choose to work for bigger hospitals and clinics, some dentists decide to put up a dental practice under their name. Just like any other business venture, you should be prepared to draw up a business plan to ensure that you have a successful dental practice up and running.

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One of the main priorities for your business plan is deciding on a location for your dental clinic. Knowing your location and the market it serves can help you decide where to put up your dental practice. Are you located near a school, a residential area, or will you have your clinic inside a mall? Foot traffic is essential, as, in a dental clinic, a lot of the patients actually come in the form of walk-in clients who live or work near the area. Unless you are already an established dentist with a long list of regular patients, it would be beneficial for you to put up a dental practice in an area where there is heavy foot traffic.

 

Make it clear how many people you plan to hire, as well as your operating hours. Other overhead costs include electricity, phone and water bills as well as other utilities like broadband Internet and cable if you choose to have this in your reception area to entertain visitors while they wait for their turn.

 

Knowing how much you expect to spend per month can help you estimate how many patients you need to see in a day and a week, and what services you need to offer, making sure that your clinic is earning enough to cover your overhead costs while at the same time make a profit. Dental equipment, tools, and supplies can also be very expensive, so make sure to include in your business plan how often you plan to upgrade your equipment, and account for technology expenses and other unforeseen or emergency expenses such as dental equipment repair.

 

Although people don’t need their dentists all the time, it is a regular occurrence and part of healthy living. As the saying goes, you don’t really know how much you need your dentist until you actually need one.  Even though you’re in the dental practice as a medical professional, the business side of things is also just as important. 

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