How to Start a Dental Practice: A Comprehensive Guide

The average dentist makes about $150,000 per year.

That’s more than enough to live comfortably in most places on the planet. But how do you get there? What does it take? It starts with a dream and ends with hard work.

This article will show you how to start a dental practice from scratch. Read on to learn.

Have a Business Plan

A business plan is just what it sounds like. It’s a written document that gives a broad overview of your practice and how you intend to run it. If anything, this will help you keep yourself on track and have something to look back on later when building your foundational structure.

If you’re going to set up the best dental practice, you will have to make decisions. You’re going to have questions about the viability of certain options or tactics. Having a business plan in place is an important tool for ensuring that all topics are properly considered before moving forward with any plans.

Get Your Equipment

There’s no substitute for quality when it comes to the tools of your trade.

Most dentists start by leasing their equipment since purchasing dental equipment can be quite pricey. However, buying could be better if you plan on being in business for more than five years.

If you decide to lease, make sure that your agreement includes an option to purchase the equipment at the end of the term. Or that there will be a buy-out clause allowing you to receive some form of compensation based on what the items are worth then.

On top of these, you need to invest in dental practice software.

Find a Location

Location is more important than most people realize, depending on what kind of dental practice you want to run. Your location determines the type and quality of clientele that you’re going to attract.

Many new dentists think that running a solo practice in the prestigious suburbs is a good way to get started. However, it’s not as easy as it sounds. You’ll need an army of bookkeepers and telemarketers to keep your head above water in this situation.

Not only are these services expensive, but they can gobble up a massive chunk of your profits if used improperly. Don’t lose money from day one because you scouted out the wrong location.

Marketing and Promotion

Marketing and promotion will be the single most important aspect of your business. You’ll need to put in some serious effort if you want to succeed in today’s world. There are so many dentists already practicing that marketing is a must.

There are many different ways to market yourself, but they all boil down to one thing: getting the word out on what you have to offer as a dentist. Most new dentists don’t take this seriously enough initially, which is why they fail within the first few years of practice.

How To Start a Dental Practice Explained

Knowing how to start a dental practice is just the beginning. It takes a lot of hard work and effort to keep your business from going under. This article took you through the main steps, but there’s still much more ground to cover.

To get more information, keep reading our posts.