dental practice business plan

Dental Business Plans

Craft a successful dental practice with a well-structured Dental Business Plan. Navigate growth, secure funding, and make informed decisions.

By Joshua Napilay on May 09, 2024.

Fact Checked by RJ Gumban.

What is a Dental Business Plan?

A is a roadmap that outlines a dental practice's goals, strategies, and financial projections. It helps practitioners and stakeholders understand the business's direction and potential outcomes.

Typically created by dentists, entrepreneurs, or dental professionals looking to start their practices or expand existing ones, a well-structured and solid business plan covers a range of essential aspects:

• Executive summary:  A concise plan overview highlighting key points such as the practice's mission, target market, competitive advantage, and financial projections.
• Practice description : Detailed information about the dental services offered, the dental team's qualifications, and the unique value proposition that sets the practice apart from competitors.
• Market analysis:  An assessment of the local dental market, including demographics, competition analysis, and market trends, to identify opportunities and challenges.
• Sales and marketing strategy:  Plans for attracting and retaining patients, outlining approaches for online and offline marketing, patient engagement, and referral programs.
• Operational plan:  Details about the practice's day-to-day operations, including staffing, office layout, equipment, technology integration, and appointment scheduling.
• Financial projections : Forecasts of revenue, expenses, and profitability over a defined period, along with assessing startup costs and potential financing sources.
• Legal and regulatory considerations:  Ensuring compliance with dental regulations, licensing, insurance, and other legal obligations.
• Risk assessment:  Identify potential risks and strategies to mitigate them, ensuring a proactive approach to possible challenges.
• Exit strategy:  Plans for the future, whether growing the practice, selling it, or passing it on to another practitioner.

Creating a dental practice business plan requires careful research, analysis, and strategic thinking. It provides clarity to stakeholders and potential investors about the practice's viability and long-term prospects. By following a well-crafted business structure, dental practitioners can optimize their chances of success in the competitive dental industry.

Printable Dental Business Plan

Download this Dental Business Plan to guide your practice toward success.

How does it work?

Step 1. download the form.

Access the Printable Dental Business Plan form from a reputable source or website.

Step 2. Gather information

Collect all necessary information and data to complete the form, including practice details, market analysis, financial projections, and operational strategies.

Step 3. Read instructions

Carefully read the form's accompanying instructions or guidelines to understand its structure and requirements.

Step 4. Practice description

Provide a clear and concise overview of your dental practice, including its mission, services, and unique value proposition.

Step 5. Market analysis

Analyze the local dental market, including demographics, competition, and trends, to identify your practice's target audience and opportunities.

Step 6. Marketing and sales strategies

Describe your plans for attracting and retaining patients through marketing, advertising, patient engagement, and referral programs.

Step 7. Operational plan

Outline your practice's day-to-day operations, staffing structure, office layout, technology integration, and appointment scheduling process.

Step 8. Financial projections

Project your practice's expected revenue, expenses, and profitability over a specified period, including startup costs and potential funding sources.

Step 9. Legal and regulatory considerations

Address any legal and regulatory obligations relevant to your dental practice, such as licensing, insurance, and compliance with dental regulations.

Step 10. Risk assessment

Identify potential risks your practice might face and detail strategies to mitigate them effectively.

Step 11. Exit strategy

Outline your plans for the practice's future, whether it involves growth, selling, or transitioning to another practitioner.

Step 12. Proofread and review

Thoroughly review the completed form to ensure the provided information's accuracy, coherence, and completeness.

Step 13. Seek professional advice

If needed, consult with legal, financial, or business experts to validate the accuracy and effectiveness of your dental business plan.

Step 14. Print and store

Print a physical copy of the completed dental business plan for your records and safekeeping.

A dental business plan is vital for managing your practice, attracting investors, and achieving your goals in a competitive industry.

Dental Practice Business Plan example (sample)

An illustrative example of a Dental Business Plan can offer valuable insights into the strategic approach for a dental practice. A Dental Business Plans PDF showcases a hypothetical dental practice's blueprint in this context. The example might encompass a brief executive summary outlining the practice's mission, target demographics, and competitive edge. It would delve into comprehensive market analysis, assessing local competition, patient demographics, and emerging trends. The sample plan would also elucidate effective marketing strategies, detailing how the practice aims to attract and retain patients online and offline.

Operational intricacies would be covered, including staffing, office layout, and technology integration. Financial projections would project revenue, expenses, and potential profits, accompanied by a breakdown of startup costs. This hypothetical plan would address legal considerations and potential risks and propose an exit strategy. Such a sample offers practitioners a tangible template to structure their Dental Business Plan, ensuring a clear path toward establishing and flourishing in the dental industry.

Download this Dental Business Plan Example:

When would you use this form?

A  Dental Business Plan  is a pivotal resource for dental practitioners and entrepreneurs alike, serving as a roadmap to navigate the intricate landscape of the dental industry. Here's when this resource becomes indispensable:

• Starting a new practice:  A Dental Business Plan is essential for dentists launching their practices. It outlines the vision, objectives, and strategies for a successful launch, helping practitioners anticipate challenges and set a clear trajectory.
• Expanding an existing practice : Established dental practices seeking growth benefit immensely from a Dental Business Plan. It guides expansion efforts by assessing new opportunities, understanding market dynamics, and refining operational and marketing strategies.
• Securing financing:  When seeking financial support from investors, lenders, or banks, a well-structured Dental Business Plan is crucial. It instills confidence in potential backers by thoroughly analyzing the practice's potential, financial projections, and risk mitigation strategies.
• Strategic decision-making : Even for ongoing practices, a Dental Business Plan is valuable. It aids in making informed decisions about introducing new services, adopting advanced technologies, or revamping marketing efforts.
• Professional collaboration:  When collaborating with other dental or medical professionals, such as specialists or associates, a Dental Business Plan aligns expectations and provides a joint roadmap for shared goals.
• Succession planning : Practitioners considering retirement or transitioning their practice need a Dental Business Plan. It outlines the strategy for passing on the practice while safeguarding its legacy.
• Navigating challenges : During challenging times like economic downturns or shifts in the healthcare landscape, a Dental Business Plan helps practitioners recalibrate strategies to remain resilient.
• Legal compliance:  Dental Business Plans ensure adherence to regulatory requirements, licensing, and ethical standards, safeguarding the practice from legal complications.
• Benchmarking progress : Regularly revisiting the Dental Business Plan enables practitioners to measure their progress against initial goals, fostering continuous improvement.

Enhanced clarity and direction  

Creating a Dental Business Plan provides practitioners with a clear roadmap for their practice's growth and success,  outlining strategic goals and actionable steps.

Informed decision-making 

The comprehensive analysis in crafting a Dental Business Plan ensures that decisions are well-informed, minimizing risks and increasing the likelihood of favorable outcomes.

Investor confidence 

When seeking investment or financing, a robust Dental Business Plan showcases the practice's potential, reassuring investors and lenders about the venture's viability.

Goal alignment 

A Dental Business Plan aligns the entire dental team toward shared objectives, fostering a unified approach and promoting efficient teamwork.

Risk mitigation 

A Dental Business Plan enhances the practice's preparedness to navigate uncertainties by identifying potential challenges and outlining strategies to overcome them.

Long-term viability 

Implementing a Dental Business Plan lays the groundwork for sustainable growth, setting the stage for long-term success and profitability.

A Dental Business Plan is a pivotal resource that assists in planning and launching a dental practice and supports ongoing operations, expansion efforts, and strategic decision-making. Its structured approach empowers practitioners to proactively address challenges, leverage opportunities, and confidently steer their dental ventures toward success.

Moreover, having access to free Dental Business Plans offers an economical way for practitioners to benefit from these advantages while efficiently planning for their practice's prosperous future.

Why use Carepatron as your dental app?

Utilizing Carepatron as your dental app is a strategic choice that offers a comprehensive and streamlined solution for managing your dental business. Carepatron is the premier platform for dental professionals seeking efficient and effective management through a Dental Business app and Dental Business Software. Here's why Carepatron is the best place to fulfill these needs:

• Integrated functionality:  Carepatron offers an all-in-one solution, seamlessly combining various aspects of dental practice management into a single platform. From appointment scheduling and patient records to billing and treatment planning, it provides comprehensive functionality tailored to the specific needs of dental practices.
• Customized for dentistry:  Unlike generic business software, Carepatron is specifically designed for dental professionals. It understands dental practices' unique workflows, challenges, and requirements, ensuring its features and tools align perfectly with your industry-specific needs.
• Efficient patient management:  Carepatron's capabilities empower you to maintain accurate and organized patient records, treatment histories, and appointment schedules. This enhances patient care, satisfaction, and loyalty while streamlining administrative tasks.
• Clinical documentation:  Carepatron's Dental Business Software strongly emphasizes clinical documentation, enabling you to maintain thorough and compliant patient records. This is vital not only for patient care but also for legal and regulatory purposes.
• Financial management:  Carepatron facilitates efficient financial management through features like automated billing, insurance claims processing, and financial reporting. It ensures that the financial aspects of your practice run smoothly, minimizing errors and maximizing revenue.
• User-friendly interface:  Carepatron is known for its user-friendly interface, making it easy for dental professionals and their staff to navigate and use the software effectively. This reduces the learning curve and allows your team to leverage its capabilities quickly.
• Data security:  The platform prioritizes data security, offering robust encryption and compliance with industry standards. This ensures that your patient's sensitive information is well-protected.

Babkins, J. (2022, August 16). Dentistry Business Plan sample. OGScapital. https://www.ogscapital.com/article/dental-office-business-plan-sample/

Dental Office Business Plan - BPlans. (n.d.). Bplans: Free Business Planning Resources and Templates. https://www.bplans.com/dental-office-business-plan/

Dentist Business Plan Template | Business-in-a-BoxTM. (n.d.). https://www.business-in-a-box.com/template/dentist-business-plan-D11957/

FREE 3+ Dental Clinic Business Plan Samples in PDF | MS Word | Apple Pages | Google Docs. (n.d.). sampletemplates.com. https://www.sampletemplates.com/business-templates/plan-templates/dental-clinic-business-plan.html

Lavinsky, D. (2023a). Dental Business Plan Template. Growthink. https://www.growthink.com/businessplan/help-center/dental-business-plan

Lavinsky, D. (2023b). Dental Business Plan Template. PlanBuildr Business Plan Software. https://planbuildr.com/dental-business-plan-template/

Lavinsky, D. (2023c). Dental Business Plan Template [Updated 2023]. BusinessPlanTemplate.com. https://www.businessplantemplate.com/dental-business-plan-template/

Upmetrics. (2023, August 11). Dental Business Plan Template (2023). https://upmetrics.co/template/dental-business-plan

Commonly asked questions

Dental Business Plans help dental professionals start, manage, expand, or optimize their practices.

A solid business plan can help with starting or expanding a dental practice, seeking financing, making strategic decisions, and transitioning the practice plans for succession planning.

Dental business plans set clear goals, analyze the market, plan marketing strategies, detail operations, project finances, mitigate risks, secure financing, and monitor progress. They serve as essential roadmaps for dental practitioners, guiding them through practice management, growth, and decision-making.

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• Read Time: 7 mins
• May 5, 2021

How to write a business plan for your dental practice

• Read Time: 7 min

The Floss / For Dentists / How to write a business plan for your dental practice

A business plan. Your practice simply has to have one. It’s going to lay out all the detailed information that helps you set your practice on the road to success. It’ll include market analysis, a marketing plan, competitive analysis, cash flow projections, and more. 

In essence, a business plan allows you to track, monitor, and evaluate the progress of your practice over a period of time. It allows you to gauge how your practice is progressing against your original projections for your business. This, in turn, will make it easier to make an objective evaluation of your practice’s progress. 

And it functions as an essential marketing document. It helps show stakeholders in your business that your practice is sustainable and worth investing in, whether that investment is monetary or time-based. 

Your business plan should be a living document. As you gain experience and achieve goals, the plan should be modified to reflect changing goals and knowledge you have gained during the time the practice has been in operation. 

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Business plans provide you with a detailed guideline on what steps you need to follow in order to ensure your practice is a success and that it achieves both your short-term and long-term goals. They are an invaluable strategic tool that every dental plan should carefully consider and craft before opening their business. 

Each individual business plan will be unique to you and your business. However, here are some guidelines you can follow to make the process of creating your business plan easier. Some basic elements any business plan should incorporate include:

Executive summary

The executive summary is perhaps one of the most essential parts of the plan. It’s a short section at the start of the plan that summarizes the plan as a whole. Typically, this section is one to two pages in length.

Some elements that should be summarized as part of the executive summary are:

• Legal structure : Key to establishing your practice, determine what type of business it will be. If you’re setting up a partnership, this section should also include percentage ownership of each partner. Other elements that you should mention include resources like attorneys and accountants who will be part of your support team.
• Services provided : Explain which dental services you will be providing in your practice. This section will also clarify what your practice’s unique value proposition will be — what sets it apart from those of your competitors and other  dentists near you .
• Goals : List the overall goals of your practice by priority. You should start with the mission statement and then list out the specific goals.
• Market analysis : An analysis of the dental landscape in your area and your practice’s ability to meet your identified needs.
• Marketing strategy : A quick summary of which strategies you will be employing. This section should be a response to the market analysis, and you should go into more detail in the marketing plan part of the business plan.
• Break-even point : This will also be part of the financial plan and analyses how viable your practice is at the current time.
• Operations plan summary : Summarize what systems you have in place in order to increase the growth of your practice. You will need to go into more detail in the operations plan section.
• Organizational / staffing structure : A summary of how many staff you have, their responsibilities and roles, and a forecast of personnel needs.

This section is key when you approach lenders for loans. It should be enticing to potential lenders and explain how you plan to make your practice a success. Therefore, it should be persuasive and compelling.

While this section goes at the start of your plan, you should write it last. This is because it is a summary of the rest of the plan, and you will need to have a detailed plan completed before you can write it.

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Description of products and services

In this section, you should elaborate on the types of services your practice will provide patients. Explain whether specialty services will be performed in-house or will be referred to outside practices and doctors.

If you’re acquiring an existing practice as opposed to opening a new one, clarify any changes you’ll be implementing to the products and services the practice is already offering. 

Operations plan 

This is where you detail the operational systems that will help you run your practice, meet your goals, and measure how effective you are at achieving your aims.

It will describe how you will procure the products needed to keep the business running, what personnel will be part of your business, and how you will manage your inventory. You’ll also detail factors like hours of operation, any licenses and permits you’ll require before opening, dental insurances that your practice will and will not accept, schedule for equipment maintenance, and so on.

One of the most important parts of your operations plan is detailing a one-year action plan. This will serve as a template for you to follow and help you detail what steps you need to take to ensure your plan is a success.

This section is the ‘nuts-and-bolts’ part of your plan and is likely to be the longest section of your business plan. Managing operations efficiently helps increase profitability and decrease stress. Without an efficient operations plan, you will find meeting objectives and goals a challenging task. 

Market analysis and marketing plan

This is where you’ll document data on how your competitors operate. Some parts of your competitors’ practices you may want to look at include their online presence, SEO rankings, how they manage their digital content, and any other marketing efforts you think is relevant.

Once you have conducted a market analysis of your competitors, you’ll also need to document your own marketing plan. Elements you should include as part of your plan include an overview of your intended market and the type of patients you plan to target, their income level, age, and lifestyle.

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You should also clearly set out how you plan to set your business apart from competitors and maintain your own customer base. For example, if you operate in close proximity to another dental practice, how will you ensure patients looking to  find a dentist  visit your practice over that of your competitor?

Make sure to conduct a SWOT analysis. This is an analysis of your practice’s strengths and weaknesses, as well as the market opportunities you can take advantage of and the threats that your practice faces. This will help you better personalize your marketing plan to your goals while also considering outside factors that could hinder those goals and detailing how you will overcome those issues. 

Your marketing strategy should focus on developing awareness of your practice amongst prospective patients. This will include the use of internal marketing (brochures, posters, newsletters, etc.), external marketing (direct mail, email, advertising, online marketing through websites and social media, etc.), and customer service to ensure your patients have a good experience and keep on returning to your practice.

One key element of the marketing plan for modern dental practices is to map out their website design. Having a well-designed website can help you stand out from competitors and can be hugely beneficial in attracting patients. For example, suppose patients are able to make a  dentist appointment  online quickly. In that case, they are more likely to choose your practice over a competitor that makes it difficult to schedule an appointment. 

If your marketing strategy is going to be significantly different from that of your competitors, you should also explain the rationale behind your choice as part of your strategy.

Financial plan

A financial plan is a key component of the marketing plan and will be the section that’s of most interest to potential lenders. If you’re approaching banks or other individuals for a loan, this section will help them make an informed decision over whether or not to lend to you. Due to its importance, this section should be carefully planned out and meticulously written.

For new practices, the financial plan will be based on 12 and 24-month financial projections, as you won’t already have an existing performance to base it off. Some key elements that you should include in your financial plan include:

• Income projections over a 12 and 24-month period
• Your personal financial statement 
• Collateral you’ll offer in exchange for a loan
• The total amount of funds that will be required by your practice for a 24-month period
• A plan for how the funds will be allocated
• Cash flow forecast
• Historical financial analysis looking into the viability of a dental practice
• Supporting documents that may be required by the lender, including a copy of your credit report, historical financial statements, five-year financial projections, and any other relevant document

Your financial plan should lay out a plan that accounts for the impact of outside financial influences that will affect your finances. These influences include competition, the economy, seasonal variations, and business cycles, as well as any other factors that will impact your practice’s financials. 

Business plan checklist

If you’re just getting started on creating your business plan, there are a variety of templates and checklists that are easily available online. One free downloadable and printable checklist that you can use is  this one .

Before you get started on making your business plan, the American Dental Association (ADA) you make sure to ask yourself some important questions, including: 

• Can you describe your potential dental practice in detail?
• Do you have an actionable marketing plan?
• Who is in the market? What are they doing right — or wrong?
• What pricing and payment policies are you considering?
• What’s your growth strategy?

These will help provide you with a guideline you can refer back to when writing your detailed plan.

The ADA also provides a business plan checklist that is tailored to dental practices. You can download the checklist  here .

FAQs about dental practice business plans

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How much does it cost to open a dental office?

While start-up costs will differ based on where your practice is located and the types of services you plan on offering, the estimated cost of starting a dental practice  can be  upwards of $450,000, with up to a third of that being equipment costs.

How profitable is a dental practice?

On average, dental practices can have  about a  25% profit margin. This profit margin can be more, depending on your specialty, location, and overhead costs. It is also possible to increase the profit margin of a dental practice in a variety of ways. For new practices, it your business plan allow you a profit margin of at least 40%.

How much does a dental office make a year?

The amount you earn is dependent on the type of services your practice offers, including whether or not you offer specialty services.  On average , general practices earn around $770,000 a year, while specialty practices can make around $1.1 million annually. 

How do I write a business plan for a mobile dental clinic?

If you’re planning a mobile dental clinic, the process for writing a business plan is similar to that of writing a plan for a traditional practice. The steps you need to follow will be the same, and any lenders will expect you to present the same information as part of your business plan.

Remember, the executive summary and the financial plan are two key aspects of your business plan when approaching lenders. A well thought-out and well-written business plan does not only make your practice more appealing to lenders but it also provides you with a blueprint to follow in order to achieve personal and business-related goals. So when you’re writing out your business plan, regardless of whether it is for a traditional practice or a mobile clinic, make sure to include all the relevant details.

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Dental Business Plan Template

Written by Dave Lavinsky

Over the past 20+ years, we have helped over 2,000 dentists create business plans to start and grow their dental practices. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through a dental business plan template step-by-step so you can create your plan today.

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What is a Dental Business Plan?

A business plan provides a snapshot of your dental business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans.

Why You Need a Business Plan for a Dentist Office

If you’re looking to start a dental practice or grow your existing dental business you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your dental business in order to improve your chances of success. Your dental business plan is a living document that should be updated annually as your company grows and changes.

Sources of Funding for Dental Practices

With regards to funding, the main sources of funding for a dental practice are credit cards, personal savings, bank loans and angel investors. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable. But they will want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business.

Angel investors are wealthy individuals who will write you a check. They will either take equity in return for their funding, or, like a bank, they will give you a loan.

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Your business plan should include 10 sections as follows:

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of dental practice you are operating and the status; for example, are you a startup, do you have a dental practice that you would like to grow, or are you operating a chain of dental offices.

Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the dental industry. Discuss the type of dental business you are operating. Detail your direct competitors. Give an overview of your target customers. Provide a snapshot of your marketing plan. Identify the key members of your team. And offer an overview of your financial plan.

Company Analysis

In your company analysis, you will detail the type of dental business you are operating.

For example, you might operate one of the following types:

• General Dentist : this type of dentist will stick mostly to restorative dentistry and hygiene care in their office. This includes, but is not limited to, initial and emergency exams, including oral cancer screenings, cleanings and periodic hygiene exams, gum treatments for gum disease, white fillings to repair decayed or broken teeth, porcelain crowns, bridges and veneers, implant porcelain crowns and teeth whitening.
• Periodontist : this type of dentist focuses on problems that patients have with their gums, bone and tissues which support the teeth.
• Endodontist : this type of dentist is also known as a root canal specialist.
• Orthodontist : this type of dentist does braces on kids and adults to straighten their teeth, as well as dentofacial orthopedics.
• Pedodontist or Pediatric Dentist : this type of dentist specializes in treating children.

In addition to explaining the type of dental business you operate, the Company Analysis section of your business plan needs to provide background on the business.

Include answers to question such as:

• When and why did you start the business?
• What milestones have you achieved to date? Milestones could include sales goals you’ve reached, new clinic openings, etc.
• Your legal structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

In your industry analysis, you need to provide an overview of the dental industry.

While this may seem unnecessary, it serves multiple purposes.

First, researching the dental industry educates you. It helps you understand the market in which you are operating. 

Secondly, market research can improve your strategy particularly if your research identifies market trends. For example, if there was a trend towards cosmetic dentistry, it would be helpful to ensure your plan calls for plenty of cosmetic procedure options.

The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section of your dental business plan:

• How big is the dental industry (in dollars)?
• Is the market declining or increasing?
• Who are the key competitors in the market?
• Who are the key suppliers in the market?
• What trends are affecting the industry?
• What is the industry’s growth forecast over the next 5 – 10 years?
• What is the relevant market size? That is, how big is the potential market for your dental practice. You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section of your dental business plan must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: adults, children, teens, elderly, etc.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of dental business you operate. Clearly adults would want a different atmosphere and product options, and would respond to different marketing promotions than teens.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, include a discussion of the ages, genders, locations and income levels of the customers you seek to serve. Because most dental practices primarily serve customers living in their same city or town, such demographic information is easy to find on government websites.

Psychographic profiles explain the wants and needs of your target customers. The more you can understand and define these needs, the better you will do in attracting and retaining your customers.

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Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other dental businesses.

Indirect competitors are other options that customers have to purchase from that aren’t direct competitors. This includes federal agencies who provide direct services to military personnel or disadvantaged populations, and nonprofit dental providers. You need to mention such competition to show you understand that not everyone who seeks dental services will choose a private dental practice.

With regards to direct competition, you want to detail the other dentists with which you compete. Most likely, your direct competitors will be dental practices located very close to your location.

For each such competitor, provide an overview of their businesses and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:

• What types of patients do they serve?
• What products do they offer?
• What is their pricing (premium, low, etc.)?
• What are they good at?
• What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

• Will you provide superior dental services?
• Will you provide dental services that your competitors don’t offer?
• Will you make it easier or faster for customers to make an appointment?
• Will you provide better customer service?
• Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a dental practice plan, your marketing plan should include the following:

Product : in the product section you should reiterate the type of dental practice that you documented in your Company Analysis. Then, detail the specific products you will be offering. For example, in addition to general dentistry, will you offer cosmetic procedures?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your marketing plan, you are presenting the services you offer and their prices.

Place : Place refers to the location of your dental practice. Document your location and mention how the location will impact your success. For example, is your practice located in a medical office building, in a commercial area, etc. Discuss how your location might provide a steady stream of customers. 

Promotions : the final part of your dental business marketing plan is the promotions section. Here you will document how you will drive customers to your location(s). The following are some promotional methods you might consider:

• Advertising in local papers and magazines
• Reaching out to local bloggers and websites 
• Social media advertising
• Local radio advertising
• Banner ads at local venues

Operations Plan

While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your dental business such as serving patients, procuring supplies, keeping the office clean, etc.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to serve your 1,000th patient, or when you hope to reach $X in sales. It could also be when you expect to hire your Xth employee or launch a new location.

Management Team

To demonstrate your dental practice’s ability to succeed as a business, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company. 

Ideally you and/or your team members have direct experience in the dental business. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act like mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in dental practices and/or successfully running small businesses.

Financial Plan

Income Statement : an income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you serve 20 patients per day or 50? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Example 5 Year Annual Income Statement

Balance Sheets : While balance sheets include much information, to simplify them to the key items you need to know about, balance sheets show your assets and liabilities. For instance, if you spend $100,000 on building out your dental office, that will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $100.000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Example 5 Year Annual Balance Sheet

Cash Flow Statement : Your cash flow statement will help determine how much money you need to start or grow your business, and make sure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt. 

In developing your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a dental business:

• Location build-out including design fees, construction, etc.
• Cost of equipment like radiographs, dental chairs, dental instruments, computers, software, etc.
• Cost of maintaining an adequate amount of supplies
• Payroll or salaries paid to staff
• Business insurance
• Taxes and permits
• Legal expenses

Example 5 Year Annual Cash Flow Statement

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your office design blueprint or location lease.

Dental Business Plan Summary

Putting together a business plan for your dental practice is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will really understand the dental business, your competition and your customers. You will have developed a marketing plan and will really understand what it takes to launch and grow a successful dental practice.

Dental Business Plan FAQs

What is the easiest way to complete my dental business plan.

Growthink's Ultimate Business Plan Template allows you to quickly and easily complete your Dental Business Plan.

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Dental Business Plans 101

Ready to create a business plan for your dental practice? The good news is that you can follow the same general guidelines as other small businesses.

Before you begin, ask yourself these key questions:

• Can you describe your potential dental practice in detail?
• Do you have an actionable marketing plan?
• Who is in the market? What are they doing right - or wrong?
• What pricing and payment policies are you considering?
• What’s your growth strategy?

Download Supporting Materials  (Free for ADA members) Components of a Business Plan

Existing dental practices may also need to update their business plans, especially if they want to expand.

An updated plan needs:

• Your dental practice’s financial position
• Your current debt, if any
• Updated lender information and terms
• A recent financial comparison with similar businesses
• An analysis of your current costs and your “break-even” point

How to Create a Business Plan for Your Dental Practice

Creating an effective business plan is essential for any business’s success—including dental practices. Business plans provide detailed information that helps businesses forge a path towards long-term growth and success. Such information may regard market analysis, marketing, cash flow projection, competitive analysis, and other relevant business information. By determining such information and crafting a plan, businesses can focus on the actionable steps necessary to turn their goals into a reality and achieve their short- and long-term objectives. As such, business plans are an invaluable strategic tool that all businesses should take the time to carefully craft. To learn how to create a business plan for your dental practice, continue reading.

Executive summary

The executive summary is an essential aspect of any business plan. It is a short section that summarizes the entirety of your business plan in a way that allows readers to quickly become acquainted with the key points and its main purpose. Typically, your executive summary should not exceed two pages.

This section is especially important when it comes to approaching lenders. It should entice the potential lender to help you receive the funding you need to get your practice up and running. Therefore, your executive summary should be written in a way that is persuasive and compelling. Let the lender know how you intend to make your business a success and express the vision of your practice.

While the executive summary will be included as the first section of your business plan, it should be the last area that you write. Because the executive summary is a compilation of all other areas of your business plan, you must have already flushed out such details before writing it.

Description of products and services

This section should provide information regarding the products and services that your dental practice offers. If you are acquiring an existing practice, make sure to detail any major changes that will be made to the products and services that were being offered by the previous practice owner. For example, if you are planning on offering additional services that the current owner is not offering, mention them here.

When creating a business plan for your dental practice, you should also include a section that details how it will be managed. In this section, detail information about the type of business structure your practice will have. For example, you should determine if your practice will be structured as a partnership, corporation, or sole proprietorship.

This section should also include a list of the management personnel and professional advisers that will comprise your team, such as financial partners, insurance agents, real estate advisors, attorneys, and business associates. In addition to compiling a list of key management professionals, you should provide further information on their job responsibilities. Such information will help prove to business lenders that you have a plan for how your office will function and that you have the necessary support system to be successful.

Competitive analysis and marketing strategy

In this section, you should include data on what your competition is doing regarding their online presence, digital content, SEO rankings, and other relevant data. Upon detailing the state of your competitor’s marketing efforts, you should then detail your own marketing plan.

Here, you should first provide an overview of your intended market and your target patient. Include information on their income level, age, and lifestyle. If you target patient is similar to that of a competing dental practice in the area, clearly state how you intend to set your practice apart from your competition and maintain a consistent customer base.

In addition, you should also detail a content map and provide information regarding your website design. If your practice will be taking a different approach from other competitors, note it in your strategy and clearly provide a rationale as to why.

Financial plan

One of the most important sections in your business plan is the financial plan. This section will be of chief interest to potential lenders, as it will help them make an informed business decision regarding whether they can approve your loan proposal. As such, it should be carefully planned and written in great detail. Here, you should list a variety of relevant financial information, such as the following:

• Projected income of your practice for the initial 12- through 24-month period
• Cash flow forecast
• Personal financial statement
• Information on how startup funds will be allocated
• Total funds required by your practice for the following two years
• Offered collateral
• Historical financial analysis

Supporting financial documents

In addition to the above information, you should also provide the necessary supporting documents that potential dental lenders can review when making their decision. If you are undergoing a dental practice acquisition , many of the necessary documents will be provided by the selling dentist. However, you will have to prepare some of them. Such financial documents to provide in this section may include:

• Present business financial statements
• Recent copy of your credit report
• Copy of current aging schedule
• Three years of historical financial statements, individual income tax returns, and business income tax returns
• Current personal financial statement
• Prospective financials for five years such as forecasts, cash flows, and projections

Such financial documents should be 90-days old or less to be considered current under lending guidelines.

Financial influences

In the financial section of your business plan, you should also provide information that displays you have accounted for the impact of financial influences. Such influences may include business cycles, competition, the economy, seasonal variations, and other events that may impact your practice’s finances. All other information included in your financial plan should account for such influences.

The operations section will likely be the last and longest section of your business plan. Here, you will get into the nitty-gritty details the day-to-day operations that occur at your practice. You should provide information regarding the following information to provide lenders with a clear picture of how your practice will function:

• Office hours
• Days of operation
• Necessary equipment and supplies
• Major suppliers you plan to source equipment from
• Equipment-maintenance schedules
• Ideal patient flow
• Dental insurances you do and do not accept

Henry Schein Professional Practice Transitions is the leader in dental practice sales and transitions. Whether you are purchasing or selling a practice, we can help you through every step of the process. Thanks to our extensive marketing resources, national network of dental transition consultants, and superior hands-on client services, your dental practice transition is sure to be as advantageous as possible. To get started on the transition process, schedule a free 30-minute phone consultation with Henry Schein Professional Practice Transitions today.

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Starting a Dental Practice: A Complete Step-by-Step Guide + Downloadable Checklist

April 17th, 2024 by Tyson Downs 4 Comments

Setting up a new dental practice involves combining the challenges of starting a business with additional dentistry-related challenges, which can be overwhelming. A lot of work goes into establishing any business, from deciding if a partner is right for you to how many employees you will hire to how you will market your dental practice. This post will cover all these and more to help you set yourself up for success.

By completing a simple “starting a new dental practice” checklist, as outlined in this post, you can ensure you have everything in order before opening your dental practice.

When Should You Start Your Own Dental Practice?

Starting a dental practice is a big step, and it's not something to be undertaken lightly. Before moving forward, consider whether starting a dental practice makes sense for you. There are many factors to keep in mind, including the personal and financial impact that being a business owner will have on your life. Here are some important considerations to keep in mind.

What Are the Benefits of Owning A Dental Practice?

A recent survey conducted by DentalPost analyzed over 13,000 dentists across the country to compare salaries, working hours, and job satisfaction among dentists in different positions and levels of experience. The survey findings show minimal disparity in the weekly working hours between practice owners and employees, with most individuals working between 31 and 40 hours per week. However, practice owners are more inclined to work over 40 hours weekly — 19% compared to 14% of associate dentists . Regardless of experience, dental practice owners earn an average of $100,000 more per year and are likelier to receive salary raises than associate dentists. The most significant pay gap is observed among early-career dentists with less than 5 years of experience, where practice owners earn an average of $300,000 annually while associates earn $175,000. Dentists who own a private practice are approximately twice as likely as dental employees to enjoy a range of benefits such as retirement plans, health insurance, tuition reimbursement for continuing education, coverage for attending dental conferences, and paid time off for vacation and holidays. Finally, practice owners exhibit greater job security than associates, with the majority remaining at the same practice for over 15 years. Conversely, 85% of associate dentists switch to new employers before completing 7 years at a single practice.

Evaluating Personal Readiness: Do I Like to Work Independently?

If you're going to open and run your own dental business, you must be comfortable working independently. As an employee of an existing practice, you probably work fixed hours and have nights and weekends to yourself. You draw a salary.

Going out on your own means that you'll have more responsibility. You’ll work longer hours than you do as an employee and may not have the same freedom that you had before. It may be difficult to predict your income on a weekly or monthly basis. On the other hand, you’ll reap the rewards of setting up the practice the way you want, creating a welcoming environment for patients, and ultimately, if you're successful, earning more money than you would if you were working for someone else.

If you are comfortable with the idea of being the one who calls the shots and you're willing to put in the time and effort required to build your new dental office from scratch, then you may be ready to open a new practice.

Financial Preparations: Is There Enough Working Capital?

Starting a dental practice requires working capital , often as much as $500,000. You’ll need to have cash at hand or good credit and collateral to qualify for a loan or line of credit. You need money to rent or buy office space, invest in equipment and supplies, hire employees, pay their salaries and benefits, and advertise to attract new patients.

If you lack money or the means to finance your new venture, you may need to put your plans on hold until you do.

Assessing Your Tolerance for Workload

New dental practice owners commonly underestimate how much work they’ll need to do to get their practice up and running. You’ll need to make a significant investment of your time, energy, and creativity to attract new patients and be successful.

It's essential to be realistic about the investment you will be making and be sure that you are at a place in your life where you can meet the challenges associated with striking out on your own.

The Importance of a Comprehensive Business Plan

The only way to be successful with a new venture is to create a roadmap. Business plans serve as templates to help entrepreneurs navigate the challenges of their new ventures. You'll need to understand how you plan to meet the challenges you'll face before you get started.

Your plan should include details of:

• Your budget
• The services you plan to provide
• Your fees for each service
• Payment Policies
• Which insurance plans you’ll accept
• Who your competitors are
• Your marketing plans and strategies

Your plan will make it easier to achieve your goals and can help attract financing if you need it.

Understanding the Local Market: The Value of Research

Market research is necessary for a business plan, but it deserves a separate mention because of its importance. It's important to know about the local market where you plan to set up your office.

What is the population of the area? How many other dentists are practicing there? What services do they offer? You’ll need to take these things into account before you move forward with your plans. You will need a different strategy in an area with only one competitor than in a location with multiple competitors, including national dental care chains. Market research can help you identify what makes your practice unique.

Legal Considerations: Reviewing Your Employment Contract

Unless you just graduated from dental school, you probably have an existing employment contract. Before going out on your own, you should review your contract with a lawyer, if necessary, to ensure you are not in violation of any non-compete clause.

Non-compete clauses can prevent you from opening a new practice within a specified time frame after you leave your existing job or within a certain geographical area. They may also impede your ability to bring existing patients to your new dental office. It’s vital to understand your legal obligations before you finalize your plans.

How Much Does It Cost to Open a Dental Practice?

One of the questions we hear a lot is the question that gives this section its title: How much does it cost to open a new dental practice? The numbers can be daunting, but it’s essential to understand how much it will cost before you start.

The cost to start a new dental practice can range from $200,000 to $500,000 . Many variables can impact the cost, including the proposed size of your practice, the location of your dental office, and the equipment you need to provide the services you want to offer. For example, opening a practice in an area where rents are reasonably affordable will cost less than opening in a high-cost-of-living city.

In addition to the money needed to open your practice, you should have about six months’ worth of overhead expenses on hand. It may take a while to attract enough new patients to meet your financial obligations, so you’ll need working capital to pay the bills. Here are some spending categories to include when you calculate your overhead expenses:

• Personnel : Salaries or hourly wages paid to staff and employee benefits.
• Clinical costs : Equipment, PPE, medical supplies, dental technology, and waste disposal.
• Facility costs : Mortgage or rent, utilities, maintenance, and cleaning.
• Business administration : Payroll, insurance, business technology, professional services, office supplies, vendor payments, taxes, licenses, marketing, and outreach.
• Discretionary costs : Continuing education, professional organizations, business travel, vehicles, etc
• Owner’s compensation : Your payment for running your new dental practice

According to the American Dental Association Policy Institute, the annual cost of running a dental practice is $443,000 or more, just under $37,000 monthly. Despite varied costs based on your location and other factors, it’s essential to be realistic about your monthly costs and be prepared to pay them.

10 Steps to Starting a New Dental Practice

Before making any final decisions regarding your dental practice, take the time to review your options and obligations thoroughly. 

Before you start a new practice, take notes and keep them in a centralized place. Keep organized with a notebook set aside only for notes when you open your practice. You can also create a Google Doc or use a notes app to keep track of your thoughts.

When all the information is in your head, it is easy to overlook one or two steps. Use a word processing program to jot down your step-by-step plan and any additional thoughts you think might be important down the road.

Now, onto your  Starting a New Dental Practice Checklist .  When starting a business, you must be prepared. Here are the major essential tasks you must complete to start a dental practice.

• Create a business plan
• Consider a partner
• Find a location for your dental practice
• Decide what equipment you need and how much it will cost to buy or lease it
• Determine your space requirements
• Obtain financing
• Sign a lease
• Determine personnel needs
• Develop a  dental marketing strategy
• Get necessary permits

We’ll explore these items in further detail, along with final pre-opening tasks. While this list doesn't cover every single factor involved in opening a new dental office, it should help you create a detailed outline for moving forward with your goal of setting up a dental practice.

Some of the action items below involve financial planning. It’s vital to research and include detailed financial information in your business plan. This includes your lease, salaries, equipment, website creation, licensing fees, and other costs.

Keep in mind that your progress through these steps may be fluid and non-linear. You may complete them out of order, start a step and need to table it for a while before returning to it later in the process, or complete some of these steps concurrently. As long as you address all of them, you will be ready for the challenges ahead.

1. Creating a Business Plan

The first step to opening a new dental practice is creating a business plan: a detailed, living document that will help you get up and running. Your business plan should include your business strategy, standard operating procedures, costs, earnings, and other financial information. To obtain a business loan for your practice, you'll need a thorough business plan.

There are many online resources available to assist you in  developing a business plan. You can even find business plan templates. We suggest creating a general outline of the information you want to include before choosing a template.

As you follow this checklist, you will find items to include in your business plan. If the information you gather does not apply to any of the categories in your outline, you can place additional details in the appendix.

One important thing to include in your plan is your exit strategy. It might seem unnecessary to consider an exit strategy before your new dental office opens, but there may come a time when you want to sell your practice. Having a well-planned exit strategy now will prepare you for the future. Your business plan should include details about your brand and your marketing strategy.

2. Weighing the Pros and Cons of Having a Business Partner

Are you going to open a dental practice on your own or partner with one or more associate dentists ? Teaming up with a partner can offset the costs of opening your dental practice and make obtaining a loan easier. It’s essential to choose a partner who shares your vision and mindset since these will impact your ability to work together to make your new practice a success.

If you find a partner, choose a business structure that protects all partners. Your partnership agreement and/or operating agreement should include details about what will happen if one partner wants to leave the business.

Going into business with someone is a big commitment, so give any prospective partnership careful thought. Even if you decide not to choose a partner now, you can revisit the option in the future.

3. Choosing a Strategic Location for Your Practice

One of the most crucial decisions you will make is choosing a location for your dental practice. This step requires extensive research.

You may want to consider several towns and cities in the early stage of research.  After that, you’ll need to look at the population, cost of living, and competition in the area. These are some of the most important factors because they will impact your ability to attract patients and build your practice.

The average number of dentists per 100,000 citizens is about 55. However, this number will vary from state to state. Factor in the total dentists per capita in your region and then determine where the other dental practices are located within your city. Consider the services other providers are offering and how you will differentiate yourself from them.

When choosing a location, you should also consider the potential for walk-ins. As you establish your dental practice, it helps to be in an area that receives a lot of pedestrian traffic. On a related note, choose a location where parking for your staff and patients is readily available. If you’re opening a practice in an urban area, proximity to public transportation is also mandatory.

Rents can vary greatly depending on your location. Compare costs for ground-floor and upper-floor suites in the same building or consider different types of space, including office suites, office parks, or even strip malls.

4. Identifying Necessary Dental Equipment

One of the biggest expenses when starting a dental practice is the up-front cost of equipment. In addition to dental equipment, you need furniture, computer systems, dental practice management software, and other items.

Find a reputable equipment salesperson early on in the process. You want to find someone who you can work with to obtain affordable, quality equipment. Be sure to research all of your options before making any large purchases. It may be less expensive to lease equipment initially and then buy new equipment when you’re ready to upgrade. If you want to buy equipment outright, you’ll need to find a lender that provides equipment financing.

Keep in mind that the word “equipment” can include an array of things you’ll need to set up your practice, including your instrument management system,  dental practice management software, call tracking systems , laptops, tablets, and even furniture. When choosing software, it’s a good idea to read some dental software reviews and test out any programs you are considering using.

5. Evaluating Your Space and Layout Needs

Before beginning your search for office space, determine how much actual square footage you need. How much space do you need for your waiting room, bathroom, reception area, and exam rooms? Will an X-ray room, storage space, and a break room also be needed? These are things to figure out before you start looking for an office.

Depending on your preferences, you may want to include a private office, a consultation room, or even a sterilization area. Of course, the number and type of rooms will vary from one practice to the next, but it’s a good idea to research other dental practice layouts so you can begin to envision how you want your office to look.

Once you have envisioned your perfect practice layout-- keeping things on the conservative side, unless you’re in the position to build a palace--make a list of the number of rooms needed and come up with approximate square footage for each room. When you total the figures, you will have a general idea of how much space you require.

6. Obtaining Financing to Start Your Practice

In most cases, any dentist setting up a new practice will need an infusion of money to pay for start-up costs. After reviewing your business plan, you can apply for a loan or line of credit from a bank or lender. If you’re unable to obtain the financing that you require, then you might have to think about joining a dental partner, even if you originally planned on opening a dental practice alone.

You may have to wait on getting a lease, hiring employees, or any of the other steps that require financing, depending on your situation. As noted above, the average cost of opening a new dental practice ranges from $200,000 to $500,000.

Applying for and obtaining business financing can be a long process. You’ll need to research lenders and learn about their lending requirements. After narrowing your choices, you’ll apply and provide any necessary supporting documentation. We suggest having your attorney review all loan offers before you sign on the dotted lines.

Some dental practice owners prefer an all-in-one loan to pay for start-up costs, including equipment and overhead. We suggest comparing costs since it may be more advantageous to get a business line of credit and then apply for equipment financing as needed.

7. Leasing Office Space: What to Keep in Mind

With financing in place, it’s time to begin your search for office space in earnest. In most cases, you may need to find an experienced practice real estate broker to help you with your search. Make sure to communicate your location preferences, square footage requirements, and anything else that’s important to you.

Keep in mind that it may take a while to find the right space for your needs. You may need to compromise on some requirements, so make sure you know where you’re willing to adjust your preferences.

You already know this, but it’s so important that I’ll remind you once again: opening a dental practice is a bogus investment. You may be tempted to splurge if you find something great that’s a little outside your budget, but it’s important not to spend too much on the lease. Remember that you can build your dream practice at a future date once you have an established patient base and regular income.

Many commercial leases have 10-year terms, making them easy to budget for. However, some may include built-in rent increases. Ensure you read the fine print and have your lawyer review the lease before you sign it.

8. Staffing Your Practice: Evaluating Your Personnel Needs

You will not be able to do everything alone, so you should start thinking about   your staffing needs sooner rather than later. Even if you don't plan to bring another dentist into your practice immediately, you’ll need to hire a receptionist, dental assistant, and billing specialist, or office manager. You may not be able to hire a full-time IT person, but you should look for a contractor to have on call when the need arises.

Finding employees for your dental practice  isn’t always the easiest task, so set yourself up for success by planning ahead. Decide how many employees you need to get your practice off the ground. Then, research salaries in your area and determine an average salary for each position to create your personnel budget. Make sure to include personnel costs in your financial projections and include them in your business plan.

As it gets closer to when you’ll open your office, you can start to put your personnel plan into place and hire the staff you need.

9. Building a Patient Base: Dental Marketing Strategies

To get your new dental practice off the ground, you'll need a marketing strategy. At a minimum, you’ll need an engaging website, a well-thought-out  social media presence , and a Facebook business page. Your website will increase brand recognition , attract new patients , and serve as a hub for your digital marketing.

There are many different ways to create a website. You can go at it alone using a website builder platform such as WordPress, Squarespace, or Wix. Though this is an affordable option, it can be considerably time-consuming, especially if you’ve never set up a website before. Unless you have marketing and SEO experience, you also risk having a website that doesn't generate leads as well as it could.

The alternative is to seek the help of a web design or   dental marketing company . There are many SEO and online marketing firms that include   dental websites   as a part of their services.

In addition to creating a website, you should employ the services of an SEO firm to help your dental practice attract potential patients and become more profitable. You do not need to wait for your doors to open. It can take several months to begin seeing results from an SEO campaign. For many, it can take a year to see a positive return on investment. Keep in mind that you'll get the best results from a firm that specializes in   dental SEO   and marketing.

By getting started early, you begin attracting attention before your dental practice is fully operational. Once you are up and running, you can increase your SEO investment and online marketing efforts.

Nearly all new practices will want to consider paid digital advertising to bring in patients quickly.   PPC for dentists   could be one of the most effective ways to attract new patients and build your practice.

10. Navigating Legal Requirements: Applying for Permits and Licenses

One of the final things you need to do when opening a new dental practice is to ensure you have all the necessary permits, licenses, etc., required to practice dentistry in your area. You will need:

• Business organization papers, whether you are operating as a sole proprietor, partnership, LLC, or corporation
• A tax ID number
• A business license from your state

Consider buying memberships in professional organizations if you think it is necessary or beneficial to your practice. As a dentist, you may join dental organizations and your local Chamber of Commerce to get to know other local entrepreneurs. Laws and regulations vary from state to state, so be sure to research this final step carefully and to leave sufficient budgeting and time before opening to obtain these required permits.

Executing the Starting a New Dental Practice Checklist

These ten steps cover the most important decisions you’ll need to make when opening a dental practice. Note that you don’t need to complete all the steps in the order we’ve listed here. For example, try to obtain financing earlier in the process so you have money to set up a website and build your brand.

Once you have plotted out and executed the above ten steps, you can complete your final pre-opening checklist, which includes some smaller details and many final pre-opening tasks. Keep reading to find a refined checklist with the smaller steps in between, including the final pre-opening tasks.

Your Dental Practice Launch Checklist: A Timeline

Uncertain about when to carry out all these steps? Here is a timeline of when to complete each of these steps, with the additional smaller steps to complete in between and the final pre-opening tasks you need to execute before your Grand Opening.

As we noted above, you may need to switch the order of some of these items to fit your needs. We have put each step in the spot where most practice owners will want to complete it.

10-12 Months Before Opening – Steps 1-3

• Develop your practice philosophy and detailed business plan.
• Come up with a budget and estimate all major expenditures.
• Decide if you want a partner.
• Hire an attorney and a  dental CPA .
• Hire a practice broker.
• Decide on a general area for your new practice.
• Evaluate potential locations for your practice with your broker.

7-9 Months Before Opening – Steps 4-5

• Determine your exact space and layout needs.
• Narrow your site search down to 1-3 locations.
• Get contractor estimates for any necessary remodeling.
• Compile a list of equipment you’ll need to buy and other major expenditures.
• Start reviewing software systems for your practice.
• Evaluate different lending institutions.
• Put together a preliminary loan package with your lender.
• Get bids on leasehold improvements from contractors.

6-7 Months Before Opening – Steps 6-7

• Finalize your loan package.
• Choose and finalize the site for your new practice (after reviewing the lease with an attorney and ensuring it meets all zoning requirements.)
• Sign the lease.
• Develop your floor plan and equipment layout.
• Select a contractor to do any needed remodels and start remodeling.

5-6 Months Before Office Opening – Step 8

• Start developing an office policy/procedure manual.
• Set the hours of operation for your practice.
• Finalize interior finishes.
• Decide on software for recordkeeping, business management, customer relationship management, imaging, etc.
• Review personnel needs.

4-5 Months Before Office Opening – Step 9 - 10

• Talk to dental SEO firms to start building a marketing strategy.
• Start checking out telephone and answering systems.
• Review and test patient management software.
• Get a telephone number.
• Review the state dental act and codes of ethics.
• Obtain provider numbers (Delta, Medicaid, etc.).
• Hire a   web designer   or use web builder software to create a business website.

3 Months Before Office Opening – Step 10

• Start on-site monitoring of leasehold improvements.
• Apply for licenses: narcotics, occupational (state, county, city, township, etc.).
• Apply for a business permit, if required.
• Apply for a tax ID number.
• Acquire dental society memberships (local, state, and national).
• Apply for staff privileges at hospital facilities as needed.
• Put in all equipment and supply orders.
• Order and install a computer system, patient management software, and office supplies (stationery, business cards, prescription pads, etc.).
• Talk to an insurance professional about what insurance you need and fill out the necessary forms (malpractice insurance, professional liability insurance, unemployment insurance, workmen comp insurance, etc.).
• Call local utility companies to set up telephone, electric, and internet service.

2 Months Before Office Opening (Final pre-opening steps)

• Place ads to fill staff positions.
• Put together your   dental fee schedule   and payment policies.
• Make laboratory work arrangements.
• Make pharmacy services arrangements.
• Arrange for janitorial services, maintenance service, and uniform/linen service.
• Join a local credit union or bank and set up a business account.
• Arrange to accept credit card payments.
• Apply for membership in the insurance provider plans for your state.

1 Month Before Office Opening (Final pre-opening steps)

• Monitor completion of leasehold improvements.
• Finish installing equipment and computer systems and test them to ensure they work properly.
• Hire and start training your employees (don’t forget to complete IRS forms, bonding, etc.)
• Set your Grand Opening date.
• Place office opening announcements on your website and other places online.
• Place office opening announcements in local print publications.
• Send office opening announcements using direct mail.
• Have the office inspected by necessary city/county officials.
• Open your office for business!

The process of opening a new dental practice is not easy. You’ll have a lot of major decisions to consider, some of which come up unexpectedly, but you can use this guide as a starting point.

Many of the decisions that you make will be crucial to the success of your dental practice. Once you move forward with your plans, it’s hard to make changes. For example, it can be costly to back out of a lease once it is signed. Therefore, ensure that you do everything right the first time around.

Take your time when planning your new dental practice. Also, do not be afraid to reach out for help. If you have any contacts in the   dental industry , use them to gain additional information and helpful tips.

How to Run a Dental Practice

Running a dental practice is a difficult job that requires practice owners to wear multiple hats in a day. Understanding how to run a dental practice is a must, particularly if you’re fresh out of dental school or have never been in a management position. Here are some pointers:

• Be intentional about creating an office culture . Your culture will impact how your employees feel about coming to work and how patients feel about entrusting you with their oral health. 
• Choose the right team members . Some dentists focus on skills when hiring, but ideally, you want employees who possess the needed skills and the right attitude.
• Make training an ongoing endeavor . Your staff, whether working in the reception area or treating patients, should be properly trained and always learning.
• Differentiate yourself from your competitors . We mentioned this before, but marketing and growing your practice will be easy if you know what makes your practice unique.
• Automate wherever you can . Using dental practice management software streamlines repetitive tasks and can help your staff be efficient.
• Create a positive patient experience . It should be easy for patients to schedule and reschedule appointments, ask questions, and get information to improve their dental health.
• Communicate with your staff . It’s your job to make sure every one of your staff understands your mission and priorities.
• Embrace digital marketing . Digital marketing makes it easy to track the performance of your ads and marketing campaigns, so you can fine-tune them for the best possible results.

These tips can help you understand how to run a dental practice. Keep in mind that choosing the right staff or partners who can handle tasks that you don’t know how to do or would rather not do is a big part of the solution to proper practice management.

Starting a Dental Practice: Tips for Success from Actual Dentists

Here are some tips from experienced dentists that may help you as you start your new dental practice:

• Don’t pay for construction/interior design work upfront. Many contractors will work with you to create milestone payments as work is completed.
• Keep your target patient base in mind when creating marketing and advertising campaigns. For example, if you are targeting young families, you probably don’t want to place all your marketing emphasis on dental procedures such as implants or root canals.
• Revise your business plan and procedures based on what works and what doesn’t. By continually evaluating processes, systems, and employees, you can make the adjustments needed to build a lucrative practice.
• Focus on  patient retention , not just bringing new patients in. You can improve patient retention by creating a welcoming atmosphere for patients, providing a top-notch patient experience, and creating a system to re-engage patients who have missed or canceled appointments.

Final Word on Starting a Dental Practice

We hope reading this post has helped you learn the steps to opening your new dental practice. Remember that despite all the hard work, running your practice can be very rewarding. You can be your own boss while performing a job that you love. We wish you the best of luck on your journey.

Do you need help setting up your dental website and establishing an online presence? Contact us today to learn how we can help!

Recommended Reading

• The Ultimate Guide to Buying a Dental Practice
• Dental Office Names: How to Name Your Dental Practice
• Dental Practice Transitions: A Guide for Successful Dental Office Transitions
• Rebranding Your Dental Practice: 7 Things You Need to Know Before You Do
• Tax Considerations When Selling a Dental Practice
• Relocating Your Dental Practice? Here's Your Step-by-Step Plan [Free Checklist]
• Dental Practice Valuation: A Guide for Dentists
• Dental Practice Financing: Business Loans for Dentists
• Dental CPA: Why Hire A Dental Accountant
•  Tyson Downs
•  Dental , Starting a Dental Practice

About the Author

Tyson Downs is the founder of Titan Web Agency, a company specializing in marketing for dental professionals. With an impressive track record of working with over 100 dental practices, Tyson has a deep understanding of the unique marketing needs within the dental industry. His expertise has helped numerous dental practices flourish by meeting and surpassing their revenue goals and established him as a thought leader in healthcare marketing. His insights and strategies have been featured in esteemed dental publications, including the American Dental Association and the American Academy of Implant Dentistry. Before dedicating his career to helping dental professionals thrive through effective marketing, Tyson honed his skills in SEO and web design as a freelancer, while also gaining valuable experience in the corporate sector. As an alumnus of Brigham Young University, he brings a strong educational background to his entrepreneurial endeavors. Outside of his professional life, Tyson is a devoted father of five, who cherishes time spent with his family, especially when they're all enjoying America's pastime on the baseball field.

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Dental and Medical Counsel Blog

How to create your dental practice business plan.

You likely know that you  must have a dental business plan to make your new dental practice successful. This is true whether you are starting a dental practice from the ground up or you are  buying  a dental practice and making it your own.

The business plan is your roadmap to success. When you apply for a business loan, lenders generally won't even talk to you unless you have a business plan. The plan provides you and the lender with information you need about every aspect of your practice, from the demographics you want to attract to the number of employees you expect to need.

At Dental & Medical Counsel, our  professional dental attorneys  work with you personally to make sure your business plan is as comprehensive as you need it to be to meet both your short and long-term goals. We offer a free consultation to see how we can best meet your needs.

Essential Components of a Dental Practice Business Plan

The Small Business Association (SBA) has a traditional business plan format you can  use as a business plan template.  If you are a member of the ADA, it also has templates you can use as a guide.

The SBA format provides the following sections that are traditionally used, at least in some combination, for all businesses, including professional practices. You can follow it carefully or tweak it to meet your needs. Keep in mind that this is the type of business plan lenders will ask for when you apply for a business loan.

Executive Summary

This is the first section of your business plan, but the last section you will write. It is just what it sounds like: a summary of your business plan. If possible, it should be no longer than two pages. It must be written concisely but completely. It is the part that lenders look for first and what you use to persuade them to read further. You want this piece to show you have a vision of success for your practice and what you base that vision on, so you know it will be a success.

Description of Practice and Services Provided

This is where you provide the name of your practice and details about the specific services you offer.

If you are buying a practice, you will want to include here whether you are making any changes to the services already offered. Some examples of what you might include here as far as services you are offering may be:

• Diagnostic services
• Implant services
• Orthodontics
• Dental surgery
• Restorative dentistry
• Preventive services
• Periodontal disease treatments and deep cleanings
• Teeth whitening
• Teeth cleaning
• Nursing home screenings

Make this list specific to what you will offer. Do not exaggerate or list a service you will not be providing. If you are buying a practice and not offering a service offered by the previous owner, explain why you are eliminating the service. If you are adding a service, explain how that will benefit the practice.

Market Analysis and Strategy

Identify your competitors and research what they are doing. Check out their online presence. Explain what your plans are for making your practice successful. For example:

• Explain how your practice will be using more advanced technology than your competitors.
• Will you be offering services that are not offered by your competitors? List what those services are. For example, orthodontics? Dental implants?
• Explain your marketing plan. Online advertising? Joining the Chamber of Commerce and participating in dental outreach programs? Involvement in community programs like speaking to the elderly in nursing homes?
• Identify your target market. What is their age, income level, and lifestyle? Is this the same target market as your competitors? If so, what is your plan for attracting them to your practice?
• What is your approach to getting referrals from HMOs, PPOs, corporations, student organizations, educational institutions, business people, senior citizens, and others?

Business Structure

There are several ways in which you can structure your dental practice. You should get legal advice before you make this decision. There are pros and cons to each type of structure. In some states, like California, healthcare professionals, like dentists,  cannot legally form  a Limited Liability Company (LLC). A legal professional can explain to you your options.

• Solo practitioner
• Partnership
• Limited Liability Company
• Corporation

You need to structure your practice in a way that meets your professional needs, has tax advantages, and protects your personal assets from any business debts.

Organization and Management

Identify how the practice will be managed. Who will be making the decisions? This will depend on the business structure you have chosen. For example, if you formed a partnership, the partners will be making decisions. Identify them by name.

List your professional advisors. Include your insurance agents, real estate agents, attorneys, and all business associations.

Explain how your office will function. List the positions that will be held in your practice and explain the job descriptions for each of those positions. List positions such as Office Manager, Human Resources Manager, Dental Hygienists, Dental Assistants, and so forth.

The purpose is to show lenders that you have a workable plan for how your office will be structured, and that you have a support system in place to make it successful.

Operation Plan

Explain how the day-to-day details of how the office will work. Include:

• The office hours
• Days the office will be open
• Vendors you will be working with
• Equipment maintenance schedules
• Dental insurance you will accept
• Dental insurance you will not accept
• Whether you offer payment plans

This section is designed to let lenders see that you have a plan for how your practice will work.

Financial Plan and Supporting Documents

All sections of your business plan are important, but this is the one that will capture the most attention from lenders. Include all relevant financial documents. It is better to err on the side of including too much information than not enough. Include:

• Projected income for the next 12 to 24 months
• The projected cash flow.
• The amount of the loan you are requesting.
• A detailed description of how the funds will be used. Buying equipment? Covering salaries of support personnel? Cover bills until income increases?
• What you are offering for collateral for the loan.

You need to provide documents to support your plan. That includes:

• Your personal financial statement.
• Bank statements.
• Your tax returns for the last three years.
• Copy of your current credit report.
• Projected income statements
• If you are purchasing an established dental practice, provide copies of all relevant financial documents you gathered when you conducted your  financial due diligence .

The Appendix includes copies of all supporting documents for all sections of your business plan plus other materials that you know lenders will want to review. This includes:

• Your license to practice dentistry.
• Your business license.
• Business history if you are purchasing a practice and all supporting financial documents.
• Your supporting documents for your financial plan.
• Reference letters.
• All legal documents, like leases, sales contracts, and copies of employment contracts.

Dental and Medical Counsel is proud to be one of the most trusted law firms that dentists use when they are establishing a dental practice, either by   buying a dental practice or building one  from the ground up.  Ali Oromchian  and  our team  of dental attorneys can answer any of your questions and assist you with your business plan and all other aspects of beginning your practice.

At Dental & Medical Counsel, PC, we understand dentists have trouble navigating the legal process. We believe every dentist deserves the best advice and service so doctors can do what they do best, treat their patients. We make dentists' lives easier by providing expert guidance, so they can focus on their personal and professional aspirations.

https://www.sba.gov/business-guide/plan-your-business/write-your-business-plan

https://www.ada.org/resources/practice/practice-management/finances/guidelines-for-developing-business-plans

https://cloud9.software/dental-business-plan/

https://startupback.com/dental-clinic-business-plan/

https://www.ogscapital.com/article/dental-office-business-plan-sample/

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Dental Business Plan Template

Written by Dave Lavinsky

Dental Business Plan

You’ve come to the right place to create your Dental business plan.

We have helped over 10,000 entrepreneurs and business owners create business plans and many have used them to start or grow their dental businesses.

Below is a template to help you create each section of your Dental practice business plan.

Executive Summary

Business overview.

Bright Family Dental is a startup dental clinic located in Milwaukee, Wisconsin that will be owned and operated by Dr. Ingrid Williams. Dr. Williams has worked with a team of dentists at another local family local dentistry for the past 18 years and has become one of the most requested dentists in the area and has now decided to open a dental clinic of her own. Milwaukee is a large metropolitan area where there is a shortage of dental offices that can serve the growing population. Dr. Williams plans on recruiting a team of dental assistants and hygienists from the local college.

Bright Family Dental will provide a comprehensive array of dental services to all individuals that include cleanings, restoration, and cosmetic dental care. The dental clinic will be located in a mid to higher income area in town that is surrounded by other ancillary medical offices as well as retail stores and restaurants.

Product Offering

The following are the services that Bright Family Dental will provide:

• Dental cleanings and examinations
• Dental implants
• Porcelain veneers
• Crowns and bridges
• Dentures and partials
• Tooth extraction
• Teeth whitening
• Emergency dental care

Customer Focus

Bright Family Dental will target all households within a 5-mile radius. This will include families with children, teenagers, and young adults, seniors, and individuals who are insured and uninsured.

Management Team

Bright Family Dental will be owned and operated by Dr. Ingrid Williams. She will recruit a team of highly qualified and trained dental assistants and hygienists. She will also hire a receptionist to answer phone calls and administer scheduling and rescheduling of patients. The clinic will also employ a full-time financial coordinator to handle all billing, insurance processing, and bill payments.

Success Factors

Bright Family Dental will be able to achieve success by offering the following competitive advantages:

• Clean, modern, and welcoming dental office with the latest dental technology
• Comprehensive menu of services that covers most dental procedures
• Is willing to take uninsured patients and offer flexible payment plans
• Bright Family Dental offers the best dental pricing in the area

Financial Highlights

Bright Family Dental is seeking $150,000 in debt financing to launch its dental business. The funding will be dedicated towards securing the dental clinic, purchasing dental equipment and supplies, and purchasing the office equipment and supplies. Funding will also be dedicated towards three months of overhead costs to include payroll of the staff, rent, and marketing costs for the opening of the new dental clinic. The breakout of the funding is below:

• Dental office space build-out: $20,000
• Dental equipment and supplies: $50,000
• Office equipment and supplies: $10,000
• Three months of overhead expenses (payroll, rent, utilities): $50,000
• Marketing costs: $10,000
• Working capital: $10,000

The following graph below outlines the pro forma financial projections for Bright Family Dental.

Company Overview

Who is bright family dental.

Bright Family Dental is a startup dental clinic located in Milwaukee, Wisconsin.  The clinic is founded by Dr. Ingrid Williams, a certified dentist who received her dental certification in 2004. Dr. Williams has worked with a team of dentists at another local family local dentistry for the past 18 years where she served children, teenagers, adults, and seniors to maintain a healthy and beautiful smile.  Dr. Williams has become one of the most requested dentists in the area and has now decided to open a dental clinic of her own. Milwaukee is a large metropolitan area where there is a shortage of dental offices that can serve the growing population. Dr. Williams plans on recruiting a team of dental assistants and hygienists from the local college.

Bright Family Dental will provide a comprehensive array of dental services to all individuals that include cleanings, restoration, and cosmetic dental care. Bright Family Dental will be the dental clinic of choice in Milwaukee as it will implement a clean, friendly space with the latest dental technology. The dental clinic will be located in a mid to higher income area in town that is surrounded by other ancillary medical offices as well as retail stores and restaurants.

Bright Family Dental History

Bright Family Dental is the first startup business for Dr. Ingrid Williams. As an established dentist in the community, Dr. Williams has gained a reputation for providing excellent dental care to her patients of all ages. She realized that a particular segment of Milwaukee was lacking a sufficient comprehensive dental clinic and decided to pursue the opportunity of opening up her own dental practice.

Since incorporation, Bright Family Dental has achieved the following milestones:

• Registered Bright Family Dental, LLC to transact business in the state of Wisconsin.
• Has located an office space that will be ideal for a dental practice and signed a Letter of Intent
• Began the branding process of developing the clinic name, logo, and website
• Began recruiting a staff of dental assistants and hygienists, receptionist, and financial coordinator

Bright Family Dental Services

The following will be the services Bright Family Dental will provide:

Industry Analysis

Over the past five years, the Dental industry experienced largely positive growth, as advances in dental technology and improved access to care for older adults resulted in greater gains. The industry benefited from rising disposable income and a relatively low unemployment rate, resulting in more consumers with healthcare coverage.

The average industry operator is expected to experience relatively high profit. The industry has historically experienced high margins, as a result, the industry is expected to continue expanding over the next five years, with more operators entering the field.

Industry revenue is projected to grow, increasing at an annualized rate of 2.3%. In particular, demand for industry services will come from older adults, who tend to need more serious and more frequent dental care as they age. In addition, the expansion of dental care through Medicaid will enable low-income adults to access the care they need. A relatively low unemployment rate will also support coverage and thus accessibility of industry services.

Customer Analysis

Demographic profile of target market.

Bright Family Dental will target all households within the immediate area. This will include families with children, teenagers, and young adults, seniors, and individuals who have insurance. Bright Family Dental will also take uninsured patients and offer payment plans if they need help with out-of-pocket dental expenses.

The precise demographics for Milwaukee, Wisconsin are:

Customer Segmentation

Bright Family Dental  will primarily target the following customer profiles:

• Families with children
• Young adults
• Uninsured adults

Competitive Analysis

Direct and indirect competitors.

Bright Family Dental will face competition from other companies with similar business profiles. A description of each competitor company is below.

Holmgren Family Dental

Holmgren Family Dental is a local dental practice that operates with the leadership of Dr. Andrew Holmgren. The practice consists of a team of  hygienists and assistants who offer exams and cleanings, fluoride treatments, fillings, crowns, bridges, root canals, implant restorations, mouth guards, dentures, sealants, and dental x-rays. His practice consists mainly of children and teenagers who are in need of braces. Dr. Holmgren provides the initial braces evaluation and exams and then refers his patients to the nearby orthodontist whose practice is next door. In addition, Dr. Holmgren also offers treatments for snore prevention, sinus lift augmentation, and bone grafting. Service costs vary depending on the needs of the patient and treatment plan. The office uses MedPay Credit to offer payment plans for procedures that aren’t covered by insurance.

The Dental Specialists of Milwaukee

The Dental Specialists of Milwaukee provides family dental care with a focus on children’s dentistry. The clinic is committed to reducing the need for future extensive dental work and providing preventative dental care for its patients. Their list of services include general dentistry, children’s dentistry, oral surgery, orthodontics and braces, and aligners. With five locations throughout Milwaukee, the practice has ten dentists and a team of assistants and hygienists who are able to service the large patient base. As the largest dental group in Milwaukee, The Dental Specialists of Milwaukee take patients of all ages and incomes and offer flexible payment plans. They take most insurance as well as Medicaid. The clinic also offers a dental discount payment plan that has low monthly payments, no interest, and no credit check required.

Riley Dental

Riley Dental provides comprehensive oral health care while providing excellent customer service. The head dentist, Dr. Ana Riley, focuses on providing patient-focused comprehensive dentistry. As a general dentist, Dr. Riley has the experience and skill needed to offer the highest quality of care and services for her patients to maintain supreme oral health. Riley Dental offers dental cleanings and exams, crowns and bridges, dental fillings, emergency dentistry, dentures and partials, root canals, and extractions. The office also offers cosmetic treatments like veneers and teeth whitening. Dr. Riley also works extensively with geriatric patients to provide whatever is necessary for their unique needs. Riley Dental has invested in state-of-the-art technology and a digital x-ray machine. The clinic offers flexible payment plans for services that are not covered by insurance.

Competitive Advantage

Bright Family Dental will be able to offer the following advantages over their competition:

• Friendly, knowledgeable, and highly qualified team of dental professionals who also offer excellent patient care
• Comprehensive menu of services that provides excellent dental care for all of its patients
• Will take uninsured payment plans and offer a flexible payment plan for dental services
• Bright Family Dental offers the best pricing in town. Their pricing structure is the most cost effective compared to the competition.

Marketing Plan

Brand & value proposition.

Bright Family Dental will offer the unique value proposition to its clientele:

• Clean, modern, and welcoming dental office that has implemented the latest dental technology
• Competitive pricing
• Does not over schedule patients. All patients will be seen at their scheduled time so that the family doesn’t spend hours of their time at the dentist office.

Promotions Strategy

The promotions strategy for Bright Family Dental is as follows:

Bright Family Dental will be located in a highly populated area with heavy traffic flow. The location has prime visibility to new and existing patients.

Word of Mouth/Referrals

Dr. Williams has built up an extensive list of contacts over the years by providing exceptional dental service and expertise to her patients. The majority of her patient base will likely follow her to her new practice.

Print Advertising

Bright Family Dental will invest in professionally designed print ads to display in the local newspapers or flyers and publications.

Website/SEO Marketing

Bright Family Dental will hire an outside advertising firm to develop the company’s website. The website will be well organized, informative, and list all the services that Bright Family Dental is able to provide. The website will also list their contact information and location. The marketing director will also manage the company’s website presence with SEO marketing tactics so that anytime someone types in the Google or Bing search engine “Milwaukee family dentist” or “dentist near me”, Bright Family Dental will be listed at the top of the search results.

The pricing of Bright Family Dental will be moderate and on par with competitors so customers feel they receive value when purchasing their services.

Operations Plan

The following will be the operations plan for Bright Family Dental.

Operation Functions:

• Ingrid Williams will be the head Dentist and Operator of the dental clinic. She will employ the following:
• Keith Murray – Dental Hygienist
• Sarah Evans – Dental Assistant
• Brenda Marshall – Financial Coordinator who will process all insurance claims, billing, and accounts payable and receivable
• Rita Johnson – Receptionist who will handle all calls, files, and scheduling of patients

Milestones:

Bright Family Dental will have the following milestones complete in the next six months.

8/1/202X – Finalize contract to lease office space

8/15/202X – Finalize personnel and staff employment contracts for the Bright Family Dental team

9/1/202X – Order office and dental practice equipment and supplies

15/15/202X – Begin marketing efforts

10/22/202X – Begin moving into Bright Family Dental office

11/1/202X – Bright Family Dental opens its office for business

Dr. Ingrid Williams is a graduate of the University of Wisconsin Dental School and has been a practicing dentist at a local dental office for 18 years. During her tenure at the clinic, Dr. Williams performed a variety of dental services to patients of all ages.

Financial Plan

Key revenue & costs.

The revenue drivers for Bright Family Dental are the fees for dental services performed at the office.

The cost drivers will be the cost of supplies necessary to maintain the dental services. Other expenses will be the payroll cost, rent, utilities, and marketing materials.

Funding Requirements and Use of Funds

Key assumptions.

The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and in order to pay off the startup business loan.

• Number of Patients Per Month: 80
• Average Cost of Services: $2,000
• Office Lease per Year: $100,000

Financial Projections

Income statement, balance sheet, cash flow statement, dental business plan faqs, what is a dental business plan.

A dental business plan is a plan to start and/or grow your dental business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can  easily complete your dental business plan using our Dental Business Plan Template here .

What are the Main Types of Dental Businesses?

There are a number of different kinds of dental businesses, some examples include: General Dentist, Periodontist, Endodontist, and Pedodontist or Pediatric Dentist.

How Do You Get Funding for Your Dental Business Plan?

Dental businesses are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.

What are the Steps To Start a Dental Business?

Starting a dental business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Develop A Dental Business Plan - The first step in starting a business is to create a detailed dental business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.  

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your dental business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your dental business is in compliance with local laws.

3. Register Your Dental Business - Once you have chosen a legal structure, the next step is to register your dental business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws. 

4. Identify Financing Options - It’s likely that you’ll need some capital to start your dental business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms. 

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations. 

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events. 

7. Acquire Necessary Dental Equipment & Supplies - In order to start your dental business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation. 

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your dental business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising.

• Branding , Business , Dental , Healthcare

Dental Business Plan for Your Dental Practice

• May 5, 2021

Although being in the business of perfecting smiles is more exciting than most occupations, it’s still essential to develop a business plan that is detailed and well thought out so you can maximize your success. A dental business plan should include the necessary steps to help your business find a path to long-term success and growth. The best way to get your practice where you want it to be is to figure out where you are now. In the same way you create treatment plans for patients, you will make adjustments based on your needs to lead you to your desired results. 

As you begin drafting this plan, you should consider including details such as market analysis, cash flow projections, general marketing, competitive analysis, and more. By determining what factors impact the continued success of your practice and building a marketing strategy based on these factors, you can focus on taking the following steps to turn your goals into reality. 

Read a Sample Business Plan

Executive Summary for Your Dental P ractice

Every dental business plan should begin with an executive summary to provide the lender with an overview of the topics discussed within the document. This summary should be clear and concise so that your reader can easily interpret your plan and figure out the next steps. On average, this section will be about two pages long. 

The executive summary is a critical component of your business plan and serves a bigger purpose than providing an outline for your audience. While it should briefly explain your dental practice, it needs to go beyond utility and grab your reader’s attention and engage their interest, so they are inclined to read the plan all the way through. Make sure this section is well written and contains essential information that the lender needs to know.  

Not only should the executive summary be comprehensive and engaging, but it should also be easy to read. If the writing style is choppy, it will take longer for the reader to comprehend, and your message may be lost on them. 

Essentially, it should feature all of the important details in your plan that will be relevant to the lender. The details included in the executive summary can vary, depending on the needs and goals of your practice. However, every executive summary must include the following elements:

• How you will go about implementing your business plan
• How many employees you will hire
• Budget and funding allocation for operations
• Competitive market analysis
• Services and products offered
• What your target market is
• The objective

Writing an Executive Summary

It’s critical that your executive summary is customized to your practice and the goals of your dental plan. Avoid using generic summaries you’ve seen online because they will come across as vague and not provide the necessary background information needed to understand the specifics of your practice. 

Because this section should only be two pages long, it can be difficult to sum up the most important aspects of your plan. To combat this, many professionals recommend writing the entire business plan and saving the executive summary for last so you can take note of all the details you want to highlight in the summary. 

An Engaging Introduction is Crucial

To capture your reader’s attention, make sure that you have an engaging introduction that is relevant to the dental field. As you begin your executive summary, you should state the objective of your dental business plan clearly and include high-priority information. In each section, include any statistics and relevant details that will back your plan and build credibility between your practice and the lender.

Edit the Document

Editing your dental business plan is an essential step in the writing process that will influence the success of your delivery. You wouldn’t go over a treatment plan with patients that has errors, unclear messaging, or other overlooked mistakes. If your thoughts seem scattered and your text is littered with poor editing, typos, and wrong punctuation, this will undermine your credibility and won’t inspire lenders to believe in the success of your business. To inspire trust in your reader, make sure you fact-check statistics, remove the passive language, and filter out any repetitiveness. 

Getting Help

Effective writing doesn’t always come naturally, and it can be a smart business decision to hire outside help, such as an editor or a professional content writer. These experts can also go over work you’ve already written to make it flow better and rid it of errors. Ensuring that your dental business plan is well written will give you extra confidence as you present it to lenders. 

Company Description

The company description should directly follow the executive summary and will outline what makes your practice unique, such as what you hope to achieve, what services you offer, how large your practice is, and more. This portion of the dental business plan will serve as a roadmap for your direction and vision for the practice so that a lender can establish a personal connection and gain a deeper understanding of you and your staff. 

Provide Basic Information 

• Start by including the official name of your practice.
• List the type of business structure
• Include the names of all of the important people behind the practice, such as other dentists
• List the exact location of the practice
• Include your mission statement. This statement should clearly and accurately represent the purpose of your practice.
• Add the target market and services, providing an overview of the services and products you will offer.
• A vision statement will explain your vision for the future of your practice, such as expansion, offering higher-end services, etc.

How to Write a Company Description

Once you’ve gathered all the information you need to include in your company description, make sure you present it in a way that is interesting to the reader. Begin by telling vital details about your dental practice and give an overview of your practice goals. 

Your entire dental plan will be centered around your office and vision, so some of the information you give in this section will be repeated throughout the document. The company description will give an overview of these practice details for readers to refer back to for clarification. 

In this section, you can capture the personal interest of a lender by demonstrating your passion for dentistry through clear and meaningful writing. Explain why you felt the desire to start a dental practice and what you hope to accomplish through your work. 

Detailing the Dental Services Your Practice Will Offer 

Once you have included the previous information, you should detail the products and services your dental practice offers. If you’re purchasing an established practice, make sure you list any changes you plan on making to the services offered by the previous owner. 

Instead of a bullet point list of your services and products, make sure this section highlights the benefits and quality of your offerings and how these will propel your dental practice into becoming an authority in your area and in your field. 

You can use this section to explain how your practice will compete with other dental practices in the area that offer similar services and how your practice is a unique business that will enrich the community. 

When writing up this section, be sure to include:

• A complete description of the services you’re planning to offer
• How the services and any products will be priced
• A comparison of the services offered by competing dental practices
• Any type of literature you will use, such as information pertaining to how your website will play in your efforts to obtain new patients.
• Include any needs your practice will have, such as desktop computers that will be used to store and update patient records
• Any future services you plan to offer

Be Brief, Yet Engaging 

While this section may not be as exciting, it can still be engaging. After all, the services you offer are the tools you use to give people the smile of their dreams. This is your passion, so you should explain the services you offer and why prospective patients need your dental practice to live a higher quality of life and enjoy better oral health. 

Use this portion of your dental business plan to highlight the services that set you apart from your competitors. For variation, include the levels of services you offer or your price points for each treatment. Our goal is to make the reader feel well informed on what makes your practice unique by consistently engaging with the content. However, we advise that you avoid overwhelming this section with too much detail. Instead, try to keep your descriptions concise so you can clearly communicate your services and why your team is the most qualified to provide them. 

As a master of your field, you are knowledgeable about every aspect of dentistry and how to use your skills to help your community. However, your reader may not share the same background knowledge. Make sure you refrain from using too much medical jargon and focus on describing your services in layman’s terms. 

Dental Office Management & Daily Operations 

Behind every great practice is a great management plan. Include in your business plan a section that details how the practice will be managed and the structure of your business. A detail worth including is whether your practice will be structured as a corporation, sole proprietorship, or a partnership. This section is also a great place to include a list of your employees and professional advisors that will help lead your team to long-term success. 

Market Analysis

In the next section of your dental business plan, examine the market around you and include data about your competitors, such as their SEO ranking, digital content, online presence, and other relevant information. The more you study the marketing data of those around you, the better informed you will be as you craft your own marketing efforts. 

Where to Start 

You should begin this section by providing an overview of your intended dental marketing plan and your target patient base. Be sure to include information on their income level, age, and lifestyle. If a competitor in your area has a similar target patient, specify in your plan how you will customize your marketing plan to set your practice apart as an authority to attract a consistent and loyal patient base. 

This portion of your dental business plan is the perfect place to include a wireframe design and a sitemap regarding the plans for your website. If you decide to make vastly different design and content choices from your competitors, explain why your strategy will be more successful in communicating your message. 

Many dentists find this section to be challenging because it requires them to investigate and analyze their competitors. However, you are most likely already aware of your competition or can find them by doing a simple search online. 

Learn Everything You Can About the Competition

When you’re investigating your competition, you want to know:

• What market segments the competition serves
• What benefits they offer
• Cost of sales
• Assets to sales
• Percent of sales
• Why patients go to them

During your research, learn as much as you can about their promotions, sales, costs, services, pricing, and any products they sell. By doing this in-depth analysis, you will demonstrate to lenders that you’ve taken all the necessary steps to make your business a success and an asset to the community. 

Analyzing the Information

After you’ve completed your market analysis, you can use this background information about your competitors to create a plan that details how your practice will compete with them. Good information to include in this portion would be services you offer that they don’t or if they have higher prices than your practice for similar services. We want you to stand out from the crowd so prospective patients can see that you’re the clear choice for their treatment. In pursuit of this goal, it’s necessary to analyze this market information and identify what you have to offer that differs from the competition. 

Writing Format

To make your information easier for the lender to understand and follow, organize this section purposefully for your readers. In the first paragraph, outline who your competitors are and what portion of the market they attract. Your next paragraph will detail your dental practice’s advantage over the competition and how your office will achieve success. 

The goal of this section is to persuade the lender reading your business plan that you not only understand your competition but have also created an expert plan that will allow you to compete with other dentists in the area. 

Include Financial Planning in Your Business Plan

At the core of every effective business plan is a thorough financial plan. This section will be the most important to lenders and investors as they decide whether or not they can approve your loan proposals. As you write your financial portion, be sure to include great detail that will reassure your audience that you have the knowledge and skill it takes to craft a successful practice. 

Relevant financial and funding information that should be detailed include: 

• A personal financial statement that details your current cash flow 
• Marketing and other expenses 
• Total funds required by your dental practice for two years
• Projected income for the first one to two years.
• Offered collateral
• Historical financial analysis
• How funds for your start-up will be allocated.
• Any financial documents that can support your projections. 

As you complete the financial section of the document, include a paragraph that demonstrates that you’ve accounted for the impact of various financial influences. This may include seasonal variations, the economy, the competition, and other events that may impact your dental practice’s finances. You have taken the time to plan out every detail to bring your dream to life, and now it’s time to put this plan to paper and give lenders the answers to any questions they have. 

Dental Operations

The final section of your dental business plan should be the operations section. This section should be your longest and will include all of the details related to the day-to-day operations of your practice. 

You should provide the following information to lenders and investors with a clear picture of how your dental practice will function:

• Days of operation
• Hours of operation
• Major supplies you need to source equipment from
• Ideal patient flow
• Maintenance schedules for equipment
• Necessary equipment and supplies and suppliers
• Dental insurances that will and will not be accepted
• If you offer certain services, or if you’re a specialist in your field.  

While creating this section, envision what the main takeaways are of the information you’re providing. This will help you avoid adding unnecessary information in favor of using concise but informative language. 

Essentially, this section is designed as an outline that will include expense and capital requirements for your dental practice that you will need to operate daily. Take the opportunity to go into detail about your dental practice’s procedures, goals, and objectives, 

This section of the plan will outline each step you will take to accomplish your dental practice’s mission and should include answers to the following questions:

• The cost amount that every department will require to complete their jobs
• Deadlines for when goals and tasks will be completed
• Information concerning where the daily operations will take place
• A description for each department
• Departments or people who will be in charge of completing tasks

Objectives and Goals

In your writing, you must include a clear goal and objective that everyone on your team will be focused on completing. When you state your dental practice’s operational objective, you give your team a standard to work toward, and you give lenders a benchmark to measure. 

Do You Need to Hire a Business Plan Consultant?

For your dental business plan to be effective, it has to be detailed and professionally written. Many dentists find that while they know everything about their practice, it can be difficult to produce written content like this on such a high level. For this reason, many dentists choose to hire a consultant to help them plan and write their dentist business plan.

A professional consultant would help guide you every step of the way, whether you are purchasing or selling a dental practice. Consultants with a focus on business planning have extensive marketing resources and networks of dental consultants that can help you develop a well-written plan for your dental practice. With this skill set, these consultants can also help you create an efficient marketing strategy for you to include in your business plan. 

When you work with a consultant on your business plan, you can have the reassurance that every section of the document is covered. A business plan that is written and developed by a professional can give you more confidence in your content as you give it to lenders for review. 

Know When to Get Help

If you are struggling to create an engaging business plan, then it may be time to call in the help of a professional. There are different experts to help you along the process, depending on which aspects of the document are proving to be challenging. 

If you are confident in your writing skills but would like guidance on what information to include in your plan, then you can hire a consultant who will go through and revise your work. However, if you are finding the actual writing of the plan to be your biggest roadblock, you can hire a consultant to take over the writing portion and help you communicate what your practice’s objectives and goals are to a lender. 

While consultants can be helpful in creating a professional business plan, no one knows your practice and its goals better than you. If you do decide to outsource work for the document, make sure you remain available while they work so you can understand the process and make recommendations for each section .

Tips from the American Dental Association 

According to the American Dental Association, your dental practice can follow the same basic guidelines as small businesses do to create an effective plan that aids your growth and reaches your audience. 

The ADA goes on to explain a few staples of creating an effective business plan, which includes:

• Creating a growth strategy
• Creating a payment policy and pricing
• Knowing your market-do your research
• Describe the dental practice in detail, including services, target customers, and products

If you’re purchasing an established dental practice, their business plan may need to be updated. 

An updated dental business plan should include:

• A current cost analysis
• Dental practice sales
• Recent financial comparisons with other dental facilities in the area
• Current lender terms and information
• Financial statements
• The financial position of the established dental practice

With this in mind, you can create a plan that incorporates all the fine details that a lender will look for in a well-rounded business plan.

Review Your Plan 

Writing a dental business plan may seem like a daunting task, but with a few simple tips, it can be an enjoyable process that leads to producing the document that will kickstart your dream practice. 

Know Your Audience

Something we’ve learned through our work is if you try to create a message that reaches everyone, you won’t be able to reach anyone. Instead, you may need to create a series of business plans that are adjusted to reach your target audience best. For example, if you are trying to secure funding, then you would need to provide the reader with proof that you will be able to make the loan payments. 

Thorough Research

A lender appreciates business plans that show the prospective borrower has extensive market knowledge. To demonstrate this, include market research in your document that is detailed and thorough . Be aware of your own strengths and weaknesses, and show lenders that you understand your limitations and see them as opportunities for growth. 

Know Who Your Competitors Are

As you enter a market, it’s important to understand who your competition is so you can adjust your business plan to set yourself apart. In your writing, describe your strategy to a lender that will explain how you plan to rise to the challenge. 

Be Very Detail Oriented

Your business plan should be concise and engaging, but make sure you don’t leave out any details your reader needs to understand your business. You need your audience to take note of your professionalism and begin to believe in your ability to run a practice. 

Include Key Facts

A well-written business plan should describe your strategy, goals, financials, your management team, competitors, target audience, services, and operations. Without these key factors, your plan may not seem as complete to lenders, and they will be less likely to understand your vision and goals for your dental practice. 

Accurate Financials

It’s essential that you provide your readers with accurate information so you can build credibility. This is especially true of any financial information given in the document. In your dental business plan, you will need to include both sales and costs. We know that it can be difficult to predict sales, so we suggest you hire an accountant to go over your financials if you run into an issue with projections. Don’t let a few numbers stand in the way of you securing important financing. Take the extra step and save yourself the hassle. 

Devote the Most Time to Your Executive Summary

The executive summary is considered among professionals to be the most important section of your plan. An experienced lender will head to this section first to learn about the important facts and figures included in the remainder of your business plan. While these details may seem dull, they actually paint the story of your passion for dentistry and how you plan to put this plan into action. Make sure you keep this in mind as you write, so your content feels engaging and encourages them to read through the rest of the document. 

Speak with a Business Adviser

To make sure your document is as effective as possible, hire a business advisor to review your rough draft and give you constructive criticism. A review of your rough draft will help you determine which sections need to be revised, cut, or added to in order to make your final product stronger.

Properly Implement Your Plan

It’s important that you view this document as a guide for your strategy that informs how your business will develop. Your dental business plan will include responsibilities and goals that are frequently updated as your business grows. By following a solid plan, you can ensure your practice stays on track and in pursuit of future goals. 

How a Dentist can Increase Their Chances of Getting Approved for a Loan

Your business plan is a great tool when trying to improve your chances of qualifying for a loan, but there are additional steps you can take to ensure success. For instance, we know that lenders want to see that a loan applicant has saved up a minimum of five percent of the loan amount and is not prone to living above their means. This will demonstrate your credibility and strengthen their trust in your practice. Many lenders will provide all of the financing for a start-up, but it’s important to them that they are taking a safe risk on a borrower who makes responsible decisions. 

Know What Your Loan Approval Will Be Before You Apply

Before you try to purchase a start-up dental office or established practice, you will need to get prequalified for a loan. While prequalification isn’t the same as loan approval, it can give you a better understanding of what your borrowing capacity will be. We know that starting your practice is an exciting yet stressful time, and we want you to have as few surprises as possible as you work toward your goals. 

Getting prequalified for a loan will give you an advantage as you begin bringing the dream of your practice to life. There are some landlords who won’t speak to a dentist concerning a lease if they haven’t been pre-approved for financing. Additionally, you will have more negotiating power when you speak to different parties so that you don’t feel cornered by circumstances into accepting deals that aren’t in your best interest. To ensure that this process progresses with ease, it’s important to know whether you qualify for a loan before you make any offers. While there is no guarantee you will be approved for a loan, it’s always better to know your options and limitations sooner rather than later. 

When to Speak to a Lender About Your Dental Practice 

The first step to take as you consider purchasing an existing dental practice or founding a start-up is to speak to a lender who can help finance your vision. Lenders can act as expert advisors that provide invaluable insight and help dentists get in touch with the right professionals to make their dreams a reality. The advice given by bankers is free, so you should take advantage of this resource as you move forward. 

We suggest that you contact a lender prior to negotiations for an existing practice and even before you begin drafting a business plan. During this time, a lender can pre-approve you for a specific amount. If you begin the process without speaking to a lender, you may find yourself overwhelmed and over budget. If you consult with this finance expert before you make financial decisions, you will better understand what you can afford with a new practice, and you will have more flexibility during negotiations. 

Final Thoughts 

Your dental practice is a unique business that has lots of specific services and functions that allow you to rise above the competition. One of the best ways to set yourself up for success is to draft a thorough and descriptive dental business plan that showcases the best aspects of your practice. A dental business plan is a management tool that will help you track and evaluate the progress of your dental practice. This document is a roadmap that will keep you on track to reach your goals and help you gauge your progress based on your initial projections. 

In addition to helping you track your progress, a business plan is a marketing document that you will use to secure financing for your practice from lenders. This dental business plan will help you easily convince lenders that you’re a good risk for their financial backing. If you produce a document that is well-written and properly formatted, you will be able to demonstrate that your dental progress will thrive and join the ranks of other successful businesses. The best part of this document is that it serves as the written version of your dream. You aren’t just selling lenders on facts and figures but also the practice you’ve envisioned where you will use your skillset to craft life-changing smiles in your community. 

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Dental Office Business Plan

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The Tooth Fairy

Executive summary executive summary is a brief introduction to your business plan. it describes your business, the problem that it solves, your target market, and financial highlights.">.

The Tooth Fairy is the dentistry practice of Steve Extractor.  The Tooth Fairy will offer general and cosmetic dentistry to the citizens of Eugene, Oregon. Through a combination of industry benchmark customer service and flexibility, The Tooth Fairy will quickly gain market share.

Steve will leverage the years he spent in private practice to model his new business.  His past experience in conjunction with his forward-looking customer-centric business model will allow him to rapidly grow a large and loyal patient base.  Profitability will be reached by month 10, and sales will reach comfortable levels by the end of year two.

1.1 Objectives

The objectives for the first years of operation include:

• To create a start-up organization from an already existing practice whose primary goal is to exceed customer’s expectations.
• To increase the number of clients by 20% per year through superior performance and word-of-mouth referrals.
• To form a dentistry practice that is able to eventually survive off its own cash flow.

1.2 Mission

The Tooth Fairy’s mission is to provide the finest dental care.  We exist to attract and maintain customers.  When we adhere to this maxim, everything else will fall into place.  Our services will exceed the expectations of our customers.

1.3 Keys to Success

The key to success is to meet the market need and exceed customer’s expectations.

Company Summary company overview ) is an overview of the most important points about your company—your history, management team, location, mission statement and legal structure.">

The Tooth Fairy, to be located in Eugene, OR, will offer both general dentistry as well as cosmetic dentistry.  General dentistry consists of primarily of cleaning and fillings, while cosmetic dentistry consists of teeth whitening, veneers, and gap removal.  The Tooth Fairy is forecasted to reach profitability by month 10 and have respectable third year profits.

2.1 Company Ownership

The Tooth Fairy is an Oregon limited liability corporation owned by Steve Extractor.

2.2 Start-up Summary

The following are the required start-up costs:

The purchase of Dan Jokerdoc D.D.S.’ private practice.  The purchase includes the patient list, office space, front chair and desk, two dental chairs, two light systems, fully-equiped sterilization room, compression air system with a suction unit, x-ray unit, mirrors, and a phone system.  This practice has been valued by the following variables: equipment, office space already built for a dentist, goodwill, and future revenue streams.  The equipment has been valued at $30,000, $15,000 for tenant improvements on the office space, the patient list at $5,000 and $25,000 for future profitability.  The entire practice was sold for $65,000 because Dr. Jokerdoc was in need of quick cash. Statistical studies have shown that patients that are made comfortable are likely to stay with the new doctor when a practice is sold.  This will help with cash flow, minimizing the amount of start-up cash.  The bulk of the equipment needed will procured through the purchase of the practice, however, there is a lot of equipment that will be needed to be purchased separately. 

The following list details what else will be needed.

• Front desk equipment including a Xerox machine, fax machine, a computer terminal with Microsoft office, QuickBooks Pro, laser printer and a CD-RW.
• Disposables which include: assorted trays and explorers, x-ray film, filling material, paper products, and impression material.
• Placing instrument.
• Curing instrument.
• Ultrasonic scaler (for removal of prophylaxis).
• High- and low-speed drills (enough for two operators).

Please note that all items that are to be used for more than a year will be classified as long-term capital assets and will be depreciated using the G.A.A.P approved straight-line method of depreciation.

The Tooth Fairy provides both general improvements consisting primarily of cleaning and fillings, as well as cosmetics  improvements.  The cost for cleanings are around $100, not including x-rays.  The cost for fillings ranges significantly depending on the material used.   Dr. Extractor will be deriving the majority of revenue from cosmetics by the end of the year.

Cosmetics can be classified into three main areas:

• Teeth whitening . There are many different ways a tooth can be stained, common causes are age, antibiotics, excess fluoride, illness, and certain beverage consumption.  Teeth whitening removes the discoloration and restores the original whiteness.  Dr. Extractor is currently using a state-of-art home treatment.  The home treatment begins with a casting of the patient’s teeth made from an impression taken at the office.  A bleaching tray is made from this impression and the Dr. then provides the patient with all the necessary instructions and material to accomplish the whitening at home.  Costs are around $300.
• Veneers . These are porcelain shells that are bonded to the front of the teeth.  They reshape the tooth and make the tooth whiter in color.  The costs of veneers range from $600-800 per tooth.
• Gap removal . This procedure uses tooth-colored plastic that is bonded to places where there should be tooth material.  The removal of gaps makes a significant improvement to a smile.  The cost for gap removal ranges from $300-$1,000.

The Tooth Fairy will be billing customers at a per procedure rate.  Only a portion of the cosmetics will be billed to an insurance company, the bulk will be paid by the individual.

Market Analysis Summary how to do a market analysis for your business plan.">

 While people of all ages require a general dentist, Dr. Extractor will be concentrating his practice on cosmetic improvements.  There are two distinct groups of people who use cosmetic dentistry.  The first group is young adults, a group of people that are concerned with their appearance.  The second group is seniors, equally concerned with their appearance, but for reasons, typically economic, have not had the ability to get the work done before.

4.1 Market Segmentation

The Tooth Fairy has two distinct groups of customers:

• Adults . Younger adults, typically 27-39 who are concerned with their appearance. This group can be further defined as both male and female with individual incomes over $45,000 a year.  While some of the target group are professionals, a large segment of this target segment are-live-at-home spouses who do not have a full time job.  This group is more likely than not to consider cosmetic surgery as a method from improving their appearance.
• Seniors . This group sees dental work as a safe way to improve they way they look. They prefer cosmetic dentistry over plastic surgery, which is viewed as a risky cosmetic surgery that this group is less likely to use.  The seniors typically live off of more than $50,000 a year in retirement savings.  This group is almost entirely retired and their day is mainly composed of leisure time activities.

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4.2 Target Market Segment Strategy

The Tooth Fairy will target two different segments with specific strategies in the marketing campaign.  While the Yellow Page advertisements will develop visibility among both groups, the seminars will be specifically directed toward the “seniors.”

4.3 Service Business Analysis

The dentist industry is following a trend away from general maintenance toward cosmetics. There is less rampant decay of teeth now relative to five to 10 years ago so dentists are concentrating on areas where there is increased demand.

Please note that The Tooth Fairly’s growth rate is higher than the industry average.  This can be explained by the fact that Steve is concentrating on an emerging niche, and as he is starting a practice from ground zero, so higher than average growth rates can be expected.

4.3.1 Competition and Buying Patterns

There are two forms of competitors:

• The generalist . This type of dentist has a practice centered around general maintenance and does not specialize.
• The specialist . This type of dentist will have a general practice, but in addition to the general practice, they have an area that they specialize in, such as cosmetics.

The buying patterns of patients are based on referrals and trust.  People will chose a dentist preferably based on a referral if that is possible. People new to an area may be unable to get a referral so they find a service provider based on advertising or the Yellow Pages and if they feel comfortable with the provider then they tend to form a long-term relationship with them.

Strategy and Implementation Summary

The marketing strategy will utilize three different methods to generate visibility for The Tooth Fairy’s practice. The sales strategy will be based on educating the consumer so that their decision is an informed one.  By educating the prospective patient, you are empowering them to make the decision rationally by themselves, making them feel comfortable with their choice.

5.1 Competitive Edge

The Tooth Fairy will leverage their two competitive edges to generate market share.

• Customer service . The Tooth Fairy’s entire practice is based on a customer centric service model.  This business model is particularly emphasized when Dr. Extractor is working with patients.  The Dr. believes that the patient must make an informed decision regarding their cosmetic needs.  The Dr. will take significant time detailing what occurs during the procedure, any side effects the patient may notice, as well as the success/failure rate.  Only after the patient has been educated regarding the procedure will the Dr. allow the patient to go forward with the procedure.
• Flexibility . The Dr. recognizes that his patients have busy schedules so he has tailored his practice around being flexible to meet the customers needs. This is an extension to their competitive advantage of customer service, however, the Dr.’s concentration on flexibility is worth noting separately.  The Dr. does not have set office hours in which to schedule appointments within.  He is willing to schedule an appointment at whatever time is needed, including nights or weekends.

5.2 Marketing Strategy

The marketing strategy will be based on developing visibility among prospective patients.  The first aspect of the marketing campaign is a large advertisement in the Yellow Pages which briefly lists the different procedures that the Dr. offers, as well as his flexibility. 

Another method to increase visibility will be free informational seminars that the Dr. will offer, typically through community organizations.  These seminars are an event where people can go and get more information concerning cosmetics as well as get a free individual consultation.  The seminars will be especially attractive to seniors who have more free time, as well as typically take advantage of free informational seminars. 

The third marketing strategy will employ networking through the various organizations that the Dr. is a member of including his church, the Lyons club, the Rotary club, as well as the country club.  As a visible, active member of these organizations, the Dr. will leverage his personal relationships to generate interest in his services.

5.3 Sales Strategy

The sales strategy is based on educating the consumer as much as possible so that they are asking for the service instead of the Dr. trying to convince them they should have the procedure done.  This method is quite effective because it allows the consumer to feel that they arrived at the decision themselves instead of them agreeing to a sales pitch.

When a patient comes in to see the doctor,  there is no charge for the initial consultation.  During this consultation, the Dr. will educate the customer on the different procedures and then analyze the patient’s particular needs.  The patient is then free to ask any questions they have.  After the customer is fully knowledgeable about all the different variables that will effect their procedure, they are then allowed to make a decision as to whether to have any work done.  This sales strategy is geared toward turning prospective customers into long-term customers who are then quite vocal to their friends about the pleasant experiences they had with The Tooth Fairy.

5.3.1 Sales Forecast

The first month will be used to get the new office in order, set up appointments and begin marketing activities.  Month two will see a few appointments, primarily from the prior practice.  Months five through seven will see a jump in cosmetic appointments.  After month seven, there should be a steady increase in sales activity.

5.4 Milestones

The Tooth Fairy will have several milestones early on:

• Business plan completion.
• Office set-up.
• The 20th cosmetic procedure.
• Profitability.

Management Summary management summary will include information about who's on your team and why they're the right people for the job, as well as your future hiring plans.">

Steve Extractor got his undergraduate degree in biology from Case Western Reserve.  While at Case, Steve knew he wanted to practice health care but was unsure of exactly what. Toward the end of his years at Case, Steve discovered his interest in dentistry.

Several years later Steve became a graduate of The Ohio State University College of Dentistry.  Steve knew that he did not want to live in Ohio for the rest of his life so he immediately upon graduating moved out to Oregon, a state that he was always fond of due to its natural beauty.  The first four months were difficult to make contacts and find a job, but Steve eventually landed a job in an eight person firm doing general dentistry.

At this point friction within the practice began to surface as the other Drs. began to feel threatened by Steve’s new skills and thought that his success would be at the expense of their profits.  It was then that Steve decided that his best career move would be to open up his own practice, allowing him the freedom to manage it himself.  He began by looking for already established practices which would allow him to open his practice quicker because all the equipment was set up and ready to go.  In order to save money when purchasing an existing practice, Steve decided to look for practices that did not have a large list of patients.  After several months of looking, Steve found a Dr. who was retiring with a small list of patients and went into negotiations for the practice.  After three weeks, the deal was sealed.

6.1 Personnel Plan

In addition to Steve, a hygienist, a dental assistant and a front desk person will be hired during month two.

Financial Plan investor-ready personnel plan .">

The following sections will outline important financial information.

7.1 Important Assumptions

The following table details important financial assumptions.

7.2 Break-even Analysis

The Break-even Analysis indicates what will be needed in monthly revenue to reach the break-even point.

7.3 Projected Profit and Loss

The following table will indicate projected profit and loss.

7.4 Projected Cash Flow

The following chart and table will indicate projected cash flow.

7.5 Projected Balance Sheet

The following table will indicate the projected balance sheet.

7.6 Business Ratios

Business ratios for the years of this plan are shown below. Industry profile ratios based on the Standard Industrial Classification (SIC) code 8021, Offices of Dentists, are shown for comparison.

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New Practice Start-Up

Your Dental Practice Journey Starts Here

From starting your own practice, including a new practice build or financing commercial real estate, Henry Schein Financial Services can help you access the financial resources you need.

Starting a new dental practice is both exciting and rewarding, but knowing where to begin – as well as finding the right partners – can be challenging. That is why many dentists rely on Henry Schein not only for access to the best financial resources but also for the industry expertise they need when thinking about starting their own dental office.

Henry Schein Financial Services is dedicated to providing financial and business solutions built around the needs of dental professionals, so dental practitioners and practice owners can run and operate a more successful practice.

Bring your practice vision to life, with a partner who is an expert in the dental industry

With years of industry expertise, and a team specifically focused on the needs of dental practice owners, Henry Schein Financial Services is the partner you can rely on for your practice needs.

Henry Schein is proud to partner with new and experienced dentists alike. We will partner with you and help provide a customized strategy that fits your practice vision. We will not only help you acquire the financial tools needed to achieve your practice and business goals but also provide valuable dental industry experience along the way.

Develop your dental business plan, and refine as you go with our professionally-designed template

Henry Schein Financial Services is a leader and valuable partner when starting or expanding your dental practice. We have developed a complimentary business plan template for you to use for your practice needs.

A business plan is the foundation of your dental practice . It can help you make decisions for everything in your practice, from your front office, operation, waiting room, patient care & treatment options, location decisions, and align with your long-term goals like practice expansion.

What can a Business Plan from Henry Schein Financial Services help provide?

An outline for each step in the practice journey, and a partner along the way.

From practice vision and planning, developing and operating plan and creating a floor plan, navigating the construction process, implementation all the way to ground and grand opening.

A robust practice timeline to guide you

To assist new practice owners, and put them at ease in the sometimes stressful planning stage, we include an estimated practice timeline that includes each step in the process and its potential duration, to help map out what is needed when bringing your practice vision to life.

A plan for your practice today, and an outline to grow

A good business plan can help you start and then grow while you operate your business. It can help guide you through each stage of managing your practice and can serve as a roadmap for how to structure, run, and expand your business. A business plan can help you get the right funding you need, and help provide potential investors the confidence to invest.

A means to surround yourself with the right team, right at the start

We are dental financing experts with years of dental industry expertise and a track record of helping dentists and practice owners achieve their practice goals and business success.

The future of your practice starts with a business plan

A complimentary dental practice business plan is designed by industry professionals, ready and at your fingertips. Click the button below, to get connected with one of our representatives for your complimentary dental business plan template. Our Business Plan includes:

• Dental practice timeline, process & considerations
• Defining your target market
• What financial information you will need
• Hiring, staffing & practice operations
• Marketing and practice promotions
• Financial projections

We’re here to support your dental practice vision and its success

While you are an expert in practicing dentistry, not all practice owners are expert business owners – that’s where we come in. We are dental financing experts. Put our years of dental industry expertise to work for your practice.

Let Henry Schein Financial Services be your practice partner and help you navigate your practice start-up. We can connect you with our preferred network of lenders, including industry-leading dental loans, and help you avoid obstacles early, providing you with even more confidence in your practice decisions.

Build a dental practice on your terms

From developing your practice vision to grand opening and practice growth – Henry Schein Financial Services is here to partner with your practice.

Your Practice Vision – from ideation to implemntation

Establish your practice, build your practice culture, aligned for your practice growth & success, need help connecting with the right experts and business leaders in your area.

With our unique network of business partners, Henry Schein Financial Services can help get you connected with local industry professionals you may need for your dental practice start-up. Surrounding yourself with the right team can not only help you understand the practice start-up process better but also provide you with provides key information, including what to pursue and what to avoid.

We can help provide insights including:

• Understanding your target market
• Designing your practice floorplan & layout
• Selecting practice location (leasing vs owning)
• Hiring, staffing & practice Operations

A partnership starting today, and beyond

Henry Schein Financial Services is here with you every step of the way for your practice needs, from when you envision your practice and groundbreaking, to hiring your first associates, to practice acquisition and eventually transition planning, and all the equipment financing and practice expansion that comes in-between.

Henry Schein is a practice partner, across the multiple stages of your practice, that is focused on you and your practice success.

Have a question or looking for something else?

Contact Henry Schein Financial Services for a complimentary, no-obligation, consultation.

About Henry Schein Financial Services

Henry Schein Financial Services is here to support the needs of new and existing dentists, and dental practice owners.

At Henry Schein Financial Services, we understand the challenges dentists face when making business decisions and obtaining financial resources for their practice. We will partner with your practice to provide a customized strategy to help you acquire the financial tools needed to achieve your practice and business goals.

Henry Schein Financial Services is proud to offer dentists and dental professionals the financial tools and resources needed to operate a successful dental practice.

• Equipment Financing & Leasing
• Technology Financing & Leasing
• Working Capital Loans
• New Practice Start-Ups
• Project & Practice Financing
• Debt Refianncing & Consolidation
• Commercial Real Estate Loans
• Business Credit Card for Dentists
• Credit Card & Merchant Processing
• Patient Payment Solutions
• Dental Practice Articles & Insights

Our team of dedicated dental financial specialists will partner with your practice and create a customized strategy for your specific need that aligns with your business goals. Put our years of dental industry expertise, specialized network of lenders, and customized business solutions to work for your practice. 

Rates and programs are subject to change without notice. All transactions are subject to the satisfaction of underwriting guidelines, credit approval by third-party lenders, documentation requirements, rates, and terms are determined by the creditworthiness of the applicant, and not all applicants will qualify. Certain other restrictions and additional terms and conditions apply.

Neither Henry Schein, Inc. nor Henry Schein Financial Services provides tax advice. Please consult with a qualified professional tax advisor to determine your eligibility for a Section 179 tax deduction. Must purchase and place into service by December 31, 2024.

©2024 Henry Schein, Inc. Neither Henry Schein, Inc. nor Henry Schein Financial Services provides financial advice. Please consult your financial advisor. Neither Henry Schein, Inc. nor Henry Schein Financial Services is a bank and neither represents itself as such, nor conducts banking activities. Henry Schein Financial Services may receive a marketing fee from the vendor for products/services purchased.

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© 2024 Henry Schein Financial Services. All Rights Reserved.

Dental Social Media Marketing Ideas & Strategies: Everything you need to know

Why dentists should use social media marketing to grow their business

Other platforms to consider, how to promote your practice on social media, 1. feature a service or treatment, 2. post oral hygiene tips, 3. create original content for holidays, 4. spotlight your employees, 5. run a promotional campaign or giveaway, 6. encourage your patients to follow you on social media, 7. create social media posts from your reviews, 8. post about what you’ve learned at dental conferences and trade shows, 9. highlight other marketing strategies your practice is using, 10. maintain a consistent posting schedule, a dental social media calendar for your practice, grow your practice with social media marketing for dentists, how often should i post on social media for my dental practice, what type of social media content do dental patients want to see, how can i measure roi from social media marketing, do i have to pay for social media advertising.

Social media can be a great marketing tool for dental offices, allowing you to connect with patients on a more personal level. From educational posts that teach patients about oral hygiene to giveaways and employee spotlights, there are lots of ways to engage your audience through social media.

You probably have social media accounts, but that doesn’t mean you’re using them the right way. Looking for dental social media post ideas? Check out this guide to find out how to attract more dental patients through social media platforms.

The dental industry is competitive. In most places, patients have several dental offices to choose from. One of the best ways to stand out is to connect with your patients on a more personal level.

Dental social media marketing gives you an opportunity to educate your patients, answer questions, and host giveaways. As you build a following and engage with more people, you’ll boost your reputation as a knowledgeable, friendly dentist.

Social media marketing for dentists is also great because it’s affordable. You don’t have to pay for expensive ads or waste countless hours writing slogans and creating graphics — just post consistently.

The best social media platforms for dentists

When it comes to dental social media marketing, there are several platforms to choose from. We’ll discuss the most popular platforms, what type of content does well on them, and what makes them smart choices for social media marketing below.

Facebook is one of the oldest social media platforms, and it’s also one of the most widespread. While some social media platforms are aimed at younger audiences, Facebook does an excellent job of attracting a variety of users. It’s also an effective marketing tool because people typically use their real names and pictures on Facebook.

Perhaps the best part of Facebook is the format. Instagram and TikTok are great for short-form content like video clips and graphics, but Facebook is the platform of choice when it comes to written content.

Instagram has become increasingly popular over the years, giving users an easy way to share images and videos. You might use Instagram to share a quick educational video about oral hygiene, or you could post a picture to promote a special event or giveaway you’re hosting. Instagram is one of the most popular social media platforms, making it an excellent way to connect with your patients.

When it comes to modern social media, TikTok is at the top. TikTok is massively popular throughout the world with billions of users registered. The short-form video format that TikTok uses has proven to be a great way to attract attention.

You could post a TikTok video spotlighting one of your employees, or you can respond to a Google review and turn that into a testimonial video for your dental office. With TikTok, social media ideas for dentists are endless.

If you want to create longer video content, YouTube is one of the best places to post your videos. Whether you’re showing how a procedure is performed or giving potential patients a walk-through of your dental office, you can post your longer videos on YouTube.

While it’s not as popular with older audiences, Snapchat is huge with the younger generation. If you’re looking for dental social media post ideas to reach younger patients, Snapchat can be a great resource.

You needn’t worry about posting on Twitter / X for your patients—if they are on that platform it is not to hear from their dentist.

When it comes to promoting your practice on social media, consistency is key. People tend to connect with the brands they see on a regular basis, so make your dental-themed posts a consistent part of your current and prospective patients’ feeds.

If you’re having trouble reaching your local audience, you can use social media advertising to target people in your area. You don’t have to pay for ads to promote your practice on social media, but it can help you build a following when you’re just getting started.

10 social media ideas for dentists

Running a successful social media campaign starts with creating the right content. Effective social media content encourages people to keep reading or watching and check out your profile. If you’re having trouble figuring out what to post, here are a few dental social media post ideas for you.

It’s not uncommon for patients to have questions or concerns about the services and treatments you provide, so highlight some of your treatments and explain them in detail on social media. You can explain how teeth whitening works, how long it takes, and what the potential side effects are. You can also educate your patients about various surgeries and procedures and why they might need them.

Even if a patient isn’t interested in a particular service, you can show them you’re knowledgeable and show your compassion for patients.

Be part of proactive dental health. How many of your patients only brushing once a day and have no idea where their floss dispenser is? Help better their lives, and their feeling toward you practice by educating your patients about oral hygiene so they can prevent cavities, tooth decay, and gum disease.

Alternatively, you can create a post asking patients for questions about oral hygiene and other dental topics. Answering patient questions is a great way to educate your patients and keep them engaged.

There are dozens of dental-themed holidays throughout the year, which means you have several opportunities to create original content for social media. From Dental Assistants Recognition Week to Dental Hygienist Week, there are several holidays you can celebrate with your patients. You can even offer special discounts or small gifts for patients who visit on special occasions.

Spotlighting your employees is a great way for your patients to get to know your practice on a personal level. You want patients to view your dental office as a friendly group of people, not a faceless entity. Talking about your employees is a great way to make your practice more approachable.

There are lots of ways to spotlight an employee. You could make a simple graphic with an employee’s name and photo, a few fun facts, and some information about their experience and education. You could also create a quick video to introduce new employees to patients.

If you want people to engage with your social media posts, try hosting a giveaway or running a promotional campaign. You can post trivia questions where the correct answer wins a small gift card or an oral hygiene kit. For a simpler solution, you can host giveaways where the winner is decided at random from the comments.

Building a loyal following is one of the hardest parts of reaching a large audience on social media. If your patients aren’t following you, you can’t consistently connect with them through social media posts.

Encouraging your patients to follow is one of our favorite social media ideas for dentists. Patients who are following you can like your post to help spread the word, and any patient (or prospective patient) who’s not following you can click the follow button.

Does your practice have positive online reviews from patients? Spotlighting reviews are a great way to showcase your practice on social media and show prospective patients that you’re knowledgeable and experienced. Try posting a picture of a review with a quick response to the patient, thanking them for the kind words and choosing your practice.

Showcasing patient reviews can also help encourage new patients to leave a review.

Continuing education is part of being a dentist—new information is always coming out, so you’re never done learning. If you go to dental conferences or trade shows, take notes about some of the important things you’ve learned and the coolest products you’ve seen. Sharing this information shows patients you’re committed to keeping up with the latest trends in dentistry.

If you’re having trouble with dental social media marketing, try highlighting some of the other marketing strategies you’re using on social media. Perhaps you’ve got a program that you use to reach out and educate the community, or maybe you help provide dental services or toothbrushes for free or at an affordable price. Highlighting your dental marketing ideas can help patients get a better feel for what your practice values.

Consistency is key when it comes to social media marketing. If you’re not posting on a regular schedule, your patients aren’t going to check back for new content regularly.

Create a schedule for social media posts that you can keep up with. You don’t have to post several times per day to build an audience, but weeks of silence can drive your audience away. Ideally, you should try to post at least two–five times per week on your social media accounts. If you’re having trouble creating enough YouTube videos, short clips are a great way to catch the attention of your patients.

Are you having trouble deciding how often to post or coming up with dental social media post ideas? We’ve developed this dental social media calendar to help you stick to a consistent posting schedule:

Social media marketing is one of the best forms of community outreach—especially if you’re providing valuable information to your patients. You can educate patients about various dental procedures and types of floss and toothbrushes, or you can host giveaways to make sure people in your community have the necessary resources for dental hygiene.

Positioning yourself as a knowledgeable, friendly source can help you maximize the lifetime value of a dental patient. When it comes to social media marketing, focusing on content and consistency is the best way to build an audience. Try our dental social media calendar and see how social media marketing can help grow your business.

Dental Social Media Marketing FAQs

While consistency is one of the most important factors when it comes to social media marketing, you don’t have to post several times per day to market your practice. We recommend posting at least two–five times per week to keep your audience engaged. You can post as often as 20 times per week, but you don’t want to spam patients with constant social media posts.

Educating your patients is one of the best ways to create content for your social media accounts. You can compare popular electric toothbrush brands, offer dental hygiene tips, or create a list of symptoms that signify it’s time to visit a dentist. Don’t be pushy or focus on advertising — providing value is the best way to build relationships with patients.

You can determine your ROI from social media marketing by looking at the total cost of your marketing efforts compared to the returns you received. It can be difficult to determine which patients came from which channels, so you can ask patients how they heard about your practice if you want to figure out how much traffic you’re driving from various social media platforms.

Paid social media marketing is optional. You can invest in paid ads if you’re having trouble reaching prospective patients in your geographic region, but you probably don’t need to pay for advertising if you’re building a following organically. You can also get help from a professional to develop a more polished social media marketing campaign if yours isn’t effective.

Download the free dental social media calendar here!

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