Owning a dental practice is a great way to use your Doctor of Dental Surgery degree; you get to put your knowledge into practice and be your own boss. Here’s what you need to do to open your first practice.
Create a Business Plan
Even though you’re providing medical services rather than selling products, your practice counts as a business, so you need a plan. Creating this document involves writing your mission statement, outlining your plans for funding, and describing the steps for opening your company. You must focus on big-picture ideas, such as how many patients you’ll serve each year, as well as little details, such as which company you’ll use for high speed handpiece repair. Once your business plan is complete, you’re ready to show it to investors.
Secure Your Supplies
Running a dental practice requires a lot of equipment. You need an x-ray machine to check your patients’ roots, so you also need a radiation license from the proper authorities. Your dental hygienists need mouth mirrors, dental probes, syringes, scalers, and curettes to clean your patients’ teeth. Don’t forget about standard office equipment such as computers, landline phones, and printers.
Choosing the right location is critical to your business’s success. If you’re too close to established dental practices, you won’t get enough business. On the other hand, if you’re in an isolated area, patients won’t hear about your office. Once you’ve found the right location, decide whether you should rent or purchase space. This depends on your budget, the cost of real estate in your area, and your long-term plans, so be sure to consult with your investors before making a decision.
If you’re thinking about opening a dental practice, you’re ready to put your DDS to work. Take care of these logistics so you can tell your first patient, “Open wide!”
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