Starting a dental practice can be both exhilarating and daunting. Taking the right steps to opening your own practice gives you the opportunity to control how your practice operates. It also, of course, comes with major considerations - finances, staffing/recruiting, patients, service offerings, construction, legal, technology/equipment, and the list goes on.
Many doctors getting ready to open a start-up practice seek advice from colleagues, attend dental conferences and CE courses, listen to podcasts (such as The Making Of a Dental Start-up), ask financial advisors, and research online to guide them.
Enter the "5 B’s" – a simplified roadmap that categorizes the professionals and services vital for a successful dental enterprise.
Every start-up needs capital. For dental practices, this means financing for equipment, facilities, and early-stage operations. Establishing a strong bond with a banker can be invaluable. Some financial institutions offer tailor-made solutions for medical enterprises, understanding the unique needs of a dental practice. An excellent banking relationship can provide not just funds but also crucial financial advice, paving the way for fiscal stability.
The old adage "location, location, location" holds in the realm of dentistry. A well-located dental office can draw in patients, while an inaccessible or inappropriate location can have the opposite effect. Real estate brokers, particularly those experienced in medical spaces, can guide practitioners to the perfect spot. Their insights into local demographics, accessibility, and specific dental facility needs can be indispensable.
In today's digital age, merely opening a practice is not enough. Dental entrepreneurs need to "broadcast" their presence, which is where marketing mavens come into play. From creating an engaging website and maintaining an active social media presence to running local advertisements, broadcasters help practices establish their brand. Their expertise ensures that a dental start-up resonates with its target audience and remains at the forefront of potential patients' minds.
Managing finances is a linchpin of any successful business, and dental practices are no exception. Accountants, affectionately referred to as "bean counters," play a pivotal role in ensuring the financial health of a dental start-up. Their responsibilities extend from basic bookkeeping and tax compliance to offering strategic financial counsel. With their assistance, practices can ensure profitability and long-term fiscal health.
Dental practices have specific requirements – from the plumbing intricacies of dental chairs to the precise layouts conducive to patient flow. Builders with experience in medical facilities can ensure that these unique needs are addressed. Beyond functional necessities, these professionals can also help create an atmosphere that’s both welcoming and efficient.
Congratulations on your big next step in your dental career! Opening a start-up is a big challenge but is a potentially lucrative investment in your future. It also, of course, comes with major considerations - finances, staffing/recruiting, patients, service offerings, construction, legal, technology and equipment, and the list goes on.
With so much on your plate, how can you find balance and make sure you’re making the right decisions for your practice?
If you're ready to find an affordable option for your next dental CBCT, check out our article: Choosing a 3D Cone Beam Dental System for a Startup Practice.
Since you’ve read this far, we’ll tell you a little bit about ourselves too.
We’re Renew Digital, we’re the market leaders in certified pre-owned dental imaging. We’re here to help you with one big piece of the equation, one of the most significant investments you’ll make for your start-up: imaging equipment.
With over 10 years in this business, we’ve helped thousands of dental and specialty practices find affordable 3D imaging as well as 2D panoramic and pan/ceph, and now intraoral scanners.
We have a wide inventory of imaging equipment, curated to the brands doctors trust most. We also help our customers with installation, warranties and 5-star customer service, all included with your purchase price - so you have peace of mind you’ll be up and running for the long-term.
You have a lot on your plate, and we're here to help. Let us be of help to you by providing a 5-star experience from start to finish, starting with our experienced Regional Sales Representatives through installation and your warranty period. There’s a reason over 300 customers have left us 5-star reviews on Google.
We offer mid FOV CBCT starting at $32,995, saving our customers 30-50% off new list prices on CBCT.
What are you waiting for? There’s never been a better time to find affordable dental imaging equipment and start making that investment to improve your profitability.
Give us a call, we’ll connect you to your dedicated sales rep at (888) 246-5611, or complete an online form by clicking the button below.