Dental Practice Business Plan

Dental Practice Business Plan-17
With established private practices, most new patients come from referrals and recommendations through existing patients.

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In addition, you will almost certainly require working capital to fund the practice in the early days so think about negotiating an overdraft with your bank.

When it comes to choosing a location you need to take great care and do some research.

Once you have identified a possible location, look at the make-up of the local population.

How affluent is it, what is the age distribution, is it mainly a commuter area, what is the general attitude towards dental care?

First, why is this person looking at this route rather than obtaining a position as an associate or buying an existing practice or a share of one?

The motivation needs to be very clear and should be a positive one.

Refurbishment of the interior will almost certainly be necessary and a host of other items need to be addressed, such as the purchase of equipment, fixtures, fittings, computers and consumables, hiring of staff, marketing and signage and 101 other tasks as well!

Do not underestimate the length of time that this will all take or the level of cost involved and always allow for a contingency.

Obtaining planning permission can be a slow, complicated and costly process and you will almost certainly need an agent to help you with the paperwork, so build these factors into your plan.

Once matters start to progress, thoughts can turn to marketing which can take many forms and also be very costly, so you need to set a budget and have a clear marketing plan.

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