Becoming a dentist can be a long hard road with lots of training and learning to be done. When you have completed all your courses and taken all exams, it can be a great opportunity to dream big and look to the future. One of the best ideas for an experienced dentist would be to run your own dental practice. However, this may sound very daunting sometimes, so it’s good to look to see the steps needed to do that.
Where to start?
A great place to start would, of course, be with a great business plan. You need to know what your aims are and what you need to do in order to reach these aims. Keep your main goals simple and specific. Work hard on keeping your income steady, find out where you will recruit for staff, manage IT services, find workspace, and so on.
Setting up your finances is a key point in starting any new business venture. This can be a huge part of your business, and so it’s recommended that you look into hiring an accountant to cover this side of the business. You want to hire someone who has experience in this type of venture and who you can trust. Look at how much you will need to spend on dental equipment and staff.
Be aware of your start-up costs and how these costs will go down once everything is installed. You would plan that all of the buying and installing of equipment would be completed in the first 12-month period of your dental practice. Have a think about whether it would be best to lease equipment to start with.
When thinking about where your practice should be, you must remember that location is everything! You want to be in close proximity to lots of potential customers as well as making sure you aren’t moving in too close to existing dentists who are more established, as this would mean not many new clients are around to join your dentist instead. It’s a good idea to wait for the ideal location and not to rush into somewhere just because it’s available sooner.
Look at who your target clients are; are they children? Then be close to a school. Are they students? Then be close to a university. Or are they commuters? Then be close to a station or tube stop. It’s also important to note the economics of the area, is it an area with expensive shops, schools, and houses.
You should then look at the aesthetics of the place, is there lots of parking available, is it light and bright, is there disabled access, does the building look appealing?
Hiring a practice manager is something you may want to consider doing in order to have a practice that runs smoothly. This is a position that is often overlooked for new practices due to the added cost of the salary of hiring one dental practice; however, in the long run, it can be a position that could be seen as indispensable and can allow you to focus on being a great dentist without having to worry about other things.