There are many risks involved in opening a dental clinic. It is normal for dentists to complete their education, gain some experience and then open a new clinic to attain professional and economic independence. Problem is, most dental schools don’t train future dentists how to open a clinic or manage it from a marketing perspective. This means that dentists at this stage are not in a field they know well and can make poor business decisions.
There have been many instances over the years when dental clinics failed to survive because of poor or improper opening procedures. In some cases, the dentist shouldn’t have opened the clinic at all. Failure of a clinic is not an easy matter. It is often accompanied by large debts. Before you open a new clinic, here are some things to keep in mind.
- Do you really need it? Having a clinic does not mean you have to. It is possible that dentists can make a good living working as freelancers or employees in other clinics. Perhaps they shouldn’t open their own clinic. Not everyone is able to manage their own business. While some dentists can be great business owners, others are so bad at managing their own businesses that they should go work for another company. It’s better to let go of the desire to own your clinic. It is better to open a clinic than be an employee, as it will result in a better outcome.
- Financial investment- Many new clinic owners fall under this category. All of their money is spent on new furniture and equipment, panoramic photography and plasma screens. There’s no money left to advertise a new clinic. What is the result? The result?
What should we do? It is important to start small with a clinic. In the first two years it is not worthwhile investing in furniture and equipment. You can, for example, use basic furniture that has been reupholstered while still investing in new patients. Once you have accumulated a patient pool and established stable sales cycles, you can invest in the clinic to upgrade as necessary.
Dental technology is advancing and many people are benefiting from it. The dental laboratory technology provides tooth services. It can solve common problems such as tooth replacement, tooth fixing, and creating the ideal aesthetic feature for your tooth. It is essential that a licensed dentist technician performs the procedure in order to ensure success.
- Advertising – It is impossible to create a new patient pool without massive investments in advertising. Advertising must be done over many months on all channels (according to the budget). This will inform the surrounding community about the new clinic and encourage people to move towards it. Once the patient pool has been established, you can dilute the advertising and move to maintenance advertising. This step is often skipped, which can cause slow growth in the clinic.
- Business plan- Those who skip this stage are taking a serious risk. You might find that your expenses are higher than expected, and you could be faced with a cash flow crisis that makes it impossible to keep the clinic open.
Your business plan should outline all steps to be taken within the first year. It should also include both optimistic and pessimistic scenarios. What number of investors are available? Which areas should you advertise? How much should you advertise? What should you advertise for? What other marketing activities should you consider? What is the cost of this? How will the clinic’s design look? So on and so forth. A professional with experience in the field of dental clinics should create a business plan. The better the plan, then the greater your chances of success.
- Clinic concept Will the clinic be focused on dental implants, and called the “Dental Implant Centre”, or would it serve the entire family? Are there any fees? It will only employ specialists or general dentists.
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- The location of the new clinic’s new facility is very important. A dental clinic doesn’t have to be on the main street. Clinics are not built for passersby. However, it is important to consider accessibility via public transport and parking for patients arriving in their own vehicles.
- Partnerships:In some cases, dentists feel too insecure to open their own dental clinic and so they look for a partner. Although partnership is wonderful, it can lead to a messy divorce. It is important to carefully consider the type of partnership: who are your partners? How much contact do they have with you? As a rule, it is best to work alone and only introduce a partner if necessary. You may discover that managing a dental clinic is not difficult. All you need to get started is a team, an accountant and a business-marketing specialist who is familiar with dental clinics.
- Goals Anyone who opens a clinic should understand that the greatest rewards will come after a few years. Building a loyal customer base that will serve as the clinic’s “ambassadors” should be the main objective of the first year. It is important to remember that the clinic will work in a low price range for the first year to reach as many markets as possible and to bring as many customers as possible to the clinic. Once you have achieved this goal, it is possible to move on to profitability. This will involve a gradual increase of prices and a decrease in advertising and marketing.