How to Start a Business
Starting a Dental Practice
What does it take to start a dental practice? Here is a summary of everything you ought to know before you open a dental practice.
Wondering how to start a dental practice? We take you step-by-step from start to success.
How to Draft a Dental Practice Business Plan
We know - writing a business plan can be a daunting task for a new entrepreneur.
Learning how to draft a dental practice business plan isn't difficult. If you can get past the mystique, you'll see that a business plan just describes where your dental practice is headed and how you intend to get there.
When you compose a business plan, you formally document the rationale behind your entrepreneurial vision. The information in your plan (and your rationale) are essential for lenders, investors and other people who have a stake in your company.
Before you begin, we recommend reviewing a few sample business plans.
Take a Look at Competitors
Prior to launching a dental practice in your area, it's a good idea to see what the competition looks like. Use the link below to get a list of local competitors near you. Just enter your city, state and zip code to get a list of dental practices in your community.
How are you going to successfully complete with existing firms? It's important that you never underestimate the competition.
Find Good Remote Business Advice
After you've evaluated your local competitors, it's a smart move to learn from folks who are already in business. If you think owners of nearby dental practices will give you advice, think again. What's in it for them?
Fortunately, somebody who runs a dental practice in a different city may be willing to share their entrepreneurial wisdom with you, after they realize you reside far away from them and won't be stealing their local customers. Indeed, many experienced entrepreneurs enjoy offering advice to startup entrepreneurs. It can take a while to find an entrepreneur who is willing to talk, but it's well worth the effort.
Where do you find somebody who runs a dental practice on the other side of the country to talk to?
It's easy. Here's a link you can use to find a mentor outside of your area.
Purchasing a Dental Practice
Many experts advise against starting a dental practice if you can buy an established operation. But as a dental practice buyer, you'll quickly discover that a business purchase isn't completely hassle-free.
There are no reliable shortcuts in buying a business. For most prospective business buyers, the first step is to contact a business broker.
A good business broker serves a number of useful purposes. From locating available companies to helping seal the deal, your broker will have the experience and skills to help you successfully navigate the purchase process.
Don't Forget About Franchising As an Option
If you don't have much business experience, you ought to think about leveraging the success of an established franchise network.
If you are thinking about opening a dental practice, a smart move is to check out whether purchasing a franchise might be worth investigating.
The link below gives you access to our franchise directory so you can see if there's a franchise opportunity for you. You might even find something that points you in a completely different direction.
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