Dental Business Plan

9 Chapter Business Plan Template in MS Word, Google Docs and MAC Pages
Pitch Deck Template in PowerPoint, Keynote & Google Slides
5 Year Financial Model Template in MS Excel, Google Sheets and MAC Numbers
Financial Dashboard Template in MS Excel, Google Sheets and MAC Numbers
Business Model Canvas Template in MS Excel, Google Sheets and MAC Numbers
SWOT Analysis Template in MS Excel, Google Sheets and MAC Numbers
Competitive Analysis Template in MS Excel, Google Sheets and MAC Numbers

I.- Dental Executive Summary

Business Overview

[Company Name] is a new dental clinic in [insert location here] that offers high-quality dental services to its patients. [Company Name] is led by [Founder's Name], an experienced dental services manager.

Services

The dental services that [Company Name] will focus on providing to its patients include cleanings, x-rays, fillings, crowns, root canals, extractions, and implants. [Founder's Name] will also create proposals for dental services that are tailored to the patient's needs.

Customer Focus

[Company Name]’s focus customers will be those who live within a 5-mile radius of where our company is located. These consumers' demographics include the following:

• 29,897 residents


• Average income of $94,700


• 61 percent of married individuals


• 44 percent of those in management and professional occupations


• Median age of 36 years

There are five huge apartment buildings in the region, in addition to the relatively rich adult demographic for a dental service business according to the dental clinic business plan.

Management Team

The skills and experience of [Founder's Name], are the [Company Name's] most significant asset. For the past 15 years, [First Name] has worked as a dental services manager.

Furthermore, in order to oversee most activities of the clinic, [Company name] will hire an experienced assistant. The potential assistant will be an experienced operations manager and will also be trained by [Founder's Name] in all operations carried out by the dental clinic. The ideal candidate for this position will also have an undergraduate business degree or years of experience as a medical office assistant.

Success Factors

There is a very high possibility for [Company Name] to thrive because of the following reasons:

• In the burgeoning community we are about serving, [Company Name] will occupy a distinct market niche. Furthermore, we conducted a survey of the local population and obtained overwhelmingly positive responses. The residents in the area indicate that they need a dental clinic model that will offer quality services in the neighborhood.


• [Company Name] is located in a high-income neighborhood with a strong demand for dental services by the residents.


• The management team has a proven history of thriving in the dentistry services sector.


• Currently, the area is provided with inadequate dental services forcing inhabitants to depend on unlicensed, and most times, illegal dentists. Thus, the residents will welcome a better model dental clinic.

Financial Highlights

That startup capital [Company Name] is currently looking for is $292,000 to launch its dental clinic. According to the dental financial planning, this startup capital will cover for capital expenditures, location construction, staff recruitment, marketing cost and working capital.

Listed below is the breakdown of how the startup capital will be used:

• $146,000 for design and construction of the dental clinic


• $146,000 for working capital which will cover marketing, staff salaries, and lease costs until [Company Name] breaks even. The dental practice budget spreadsheet throws more light on this.

II.- Dental Business Overview

Who is [Company Name]?

[Company Name] is a forerunner in delivering dental care to the community residents. Our dental clinic provides a full range of dental services for the entire family, including general, aesthetic, and restorative dentistry according to the dentistry business plan. Our family-owned dental practice has been providing high-quality dental services with a strong focus on customer service for more than [x] years.

[Company Name]’s History

[Founder's Name] founded [Company Name] in [xxx].[Address] was the very first location of our company Furthermore, in reference to the dental practice business planning, the following personnel comprised the initial staff organization of [Company Name]:

• One Dentist


• One Dental assistant


• One Receptionist, and


• One Office orderly

However, the workforce of the company has expanded during the last few years of operations. Two additional dentists, two additional dental assistants, and a bookkeeper have been added to the company’s workforce as included in the dental business plan template.

[Company Name] currently has three fully functional dental departments with a number of dental specialists at hand to provide specialized dental care.

The following achievements have been made by [company Name] since its inception:

• Found office space and signed a lease agreement


• I created the company's name, logo, and website, which can be seen at [website].


• Determined needs for equipment and fixtures


• Started employing key personnel

[Company Name]’s Products/Services

[Founder’s Name] will be able to provide clients with the following services:

• Oral Prophylaxis: This is a sophisticated dental service that effectively removes tartar and plaque build up from the teeth’s surfaces and those that are concealed in between the sensitive areas of your gums.


• Teeth Whitening: Lightens teeth and helps to remove stains and discoloration. Whitening is among the most popular cosmetic dental procedures because it can greatly improve how your teeth look.


• Dental Braces: Dental braces (also known as braces, orthodontic cases, or cases) are devices used in orthodontics that align and straighten teeth and help to position them with regard to a person’s bite, while also working to improve dental health.


• Dental Implant: Made to replace a tooth. Implants provide a strong foundation for fixed (permanent) or removable replacement teeth that are made to match your natural teeth


• Oral Surgery: It entails the diagnosis, adjudicative treatment of various oral diseases, injuries and defects which are in consonance with the functional and aesthetic aspects of a human’s mouth, face, teeth and jaws.

As [Founder’s Name] understands, the key to a successful dental service is being responsive to the particular needs of clients. [Founder’s Name] will have a full-time assistant who will, among other things, manage operations including scheduling, inventory, and bookkeeping. This will free up the time of [Founder’s Name] to work on important patient cases.

III.- Dental Industry Analysis

Dentists sector has profited from developments in dental technology and greater access to care for older elderly and low-income individuals over the five years leading up to 2020. However, the major factors that have aided patients' ability to make out-of-pocket expenditures for dental treatment which are the second-largest source of revenue for the dentistry sector as listed in the dental report template. The major factors include increase in disposable income and a decline in the unemployment rate. Overall, there is a prediction for the industry revenue to grow at the rate of 1.4 percent yearly in five years to come according to the dental business plans.

Elders, who require more serious and regular dental care as they become older, will drive major demand for industry services according to the business plan for dental practice. Furthermore, the continuous increase of Medicaid dental care will allow low-income adults to receive the care they require.

The industry’s average dental practice profit margin is expected to continue to increase. Also, membership in dental service organizations (DSOs) will likely continue to rise, especially with younger practitioners who are graduating with big debt amounts and choose to focus on patient care rather than practice administration.

What you Get in Your Dental Business Plan Package

IV.- Dental Customer Analysis

Profile of Target Market

In reference to the business plan dental clinic, the group of people [Company Name] intend offering its services to people who live in [company location] as well as the neighboring areas within a 10 mile radius from the where the company is located.
Furthermore, these groups of people we intend to serve fall under the middle and upper classes. Also, they have busy lifestyles. Thus they require dental services and as well have the financial means to pay for the dental services.

Demographics

The precise demographics of the town in which our location resides are as follows:

Customer Segmentation

Listed below are the three customer groups that will be the Company's primary focus:

• Parents: There are many stay-at-home moms in the town we will serve and they are involved in the school and community. These mothers frequently seek out fitness services. However, gaining a mother's loyalty most of the time equally means gaining her children's and husband's loyalty as well. Furthermore, these stay-at-home moms are well connected to one another , thus, they will be a great source of referral business.As a result, [Company name] anticipates receiving new consumers from referrals on a regular basis.


• Professionals: The [Company name] is strategically located on a very busy commuting route. As a result of making the location easily accessible as well as providing outstanding customer care service, it will attract both working men and women who want to look professional for work.


• Students: In the neighboring area, there are several high and middle schools. Because these students still rely on their parents' income, they can pay for higher-quality services than those offered by discounters. Based on the beauty needs of the local youth culture, [Company name] can anticipate to create large seasonal revenue according to the business plan dental practice.

V.- Dental Competitive Analysis

Direct & Indirect Competitors

Some dental practice models offices are also located within a five-mile radius of [Company Name]. Thus, they equally compete for clients either directly or indirectly. These business include the following:

Mountain Dental Center
Mountain Dental Center is a dental clinic that has three other branches. There are Four dentists who work in the Mountain delta center. The services which Mountain Dental Center provide for its customers include exams and cleanings,bonding,bridges, crowns, dentures, extractions, fillings, fluoride treatments, implant restorations, mouth guards, night guards, root canals, sealants, and veneers.
Additionally, digital x-rays, intraoral camera usage during cleaning and exam visits, oral cancer screening, teeth whitening, snoring prevention, and sleep apnea are also available services at Mountain Dental Center.
Furthermore, dental implants, implant-supported dentures, sinus lift augmentation, and bone grafting are also part of its services .The cost of services varies based on the patient's needs and treatment plan. For treatments that aren't covered by insurance, Mountain dental center uses CareCredit to provide payment plans.

Dental Specialists
Dental Specialists was founded in 1982 and focuses on implant restoration and prosthetics, as well as partial and full mouth reconstruction. Dental exams and cleanings, digital x-rays, fluoride treatments, dental implants, bridges, crowns, onlay restorations, inlay restorations, amalgam fillings, dentures, composite fillings, root canals, lumineers, porcelain veneers, porcelain crowns, teeth whitening, and periodontal diagnosis and treatment are among the services provided by the company.
Dr. Surgi, the practice's director, graduated from the University of Washington Dental School in 1982 and went on to finish advanced clinical training in the Hospital Residency Program at the University of Washington Affiliated Hospitals.

Blake Dental
Blake Dental, a dentistry business focusing on aesthetic and restorative dentistry, was founded in 1979. Implants, composite bonding, and crowns are among the services offered. Dr. Blake, the owner of the dental clinic graduated from the University of Washington with a doctorate in dental surgery in 1976. Blake dentals working hours are from 8 a.m. to 5 p.m. Monday through Thursday. All major dental insurances are welcomed in Blake dentals.

What you Get in Your Dental Business Plan Package

Competitive Advantage

[Company Name] has a number of advantages over its rivals. These benefits are as follows:

- Client-oriented service: [Company Name] will employ a full-time sales manager to maintain contact with customers and respond to their daily inquiries. [Founder's Name] understands the importance of client accessibility. Thus [Company Name] intends keeping in touch with them via weekly newsletters concerning the dental services it offers.
- Management: [Founder's Name] hasbeen excelling in the dental services industry. Thus, he will be able to leverage that experience to guarantee customers of the quality dental service [Company Name] will offer. In addition, his exceptional qualifications will enable him to serve clients far better than [Company Name's] rivals.
- Relationships: [Founder's Name] knows a lot of the local leaders, media, and other influences because he has lived in the community for 25 years. In addition, he will also be able to create his initial client base by leveraging on his connections with homeowners through his work at King's Dental Clinic.

VI.- Dental Marketing Plan

The [Company Name] Brand

The [Company name] brand will emphasize the Company's distinct value proposition which include:

• Customer-focused home dentistry services that consider each home as a unique entity and complete the work correctly the first time.


• Service built on long-term relationships


• Confirmed dental office expertise in a small-firm setting

Promotions Strategy

Local Publications
[Company name]’s opening will be publicized by the company, several weeks ahead of time in a variety of local newspapers and other periodicals. Furthermore, regular commercials will run to sustain awareness in relevant markets. A significant promotion effort will be made through community newspapers, school publications, youth sports programs, and other similar avenues.

Major Publications
Advertising in major periodicals will be used selectively by the company. The circulation of [publication or newspaper name] is xyz, and it is intended to cover a specific geographic zone of customers.
Furthermore, advertisements in major periodicals will be utilized selectively with emphasis on cost-effectiveness. These advertisements will feature discount vouchers in order to track feedback to the adverts.

Community Events/Organizations
[Company name] will market itself by giving out promotional materials. It will also promote itself by being involved in local community events such as school fairs, festivals, homeowner organizations, and athletic activities.
Furthermore, mothers are frequently strongly involved in events like this. Thus, we will use the opportunity to target the profitable audience of adult women, as well as their families by extension.

Commute Advertising
[Company name] will hire people that will hold up signs along busy commute highways in order to draw people’s attention to the company. Doing this in a busy route will enable us to reach out to a huge number of working people who can afford our service about the launch of our company.

Customer Loyalty Programs
A loyalty program will be developed by [Company name] for its customers. The essence of this program is to retain their loyal clients. Furthermore, when [Company name] are not actively offering services to clients in the dental clinic, our specialists and other personnel will call consumers on a frequent basis. The essence of these phone calls will be to:

-Make sure that clients are happy with the services being rendered to them
-Remind customers after a given period of time has gone that they might want a new facial or massage

However, clients who have been with the company for a long time will be eligible for the loyalty program, and referrals will be recognized as well during the rewards.

Direct Mail
[Company Name] will send direct mails to all the neighborhoods around the dental clinic. These direct mails will contain basic information about [Company Name], as well as discounts and other incentives that will attract customers to the dental clinic frequently.

Ongoing Customer Communications
[Company Name] will keep a website up to date and send out email newsletter on a monthly basis. The email newsletter aims at keeping customers informed about upcoming events, products, and other news concerning the company.

Pre-Opening Events
[Company Name] will host pre-opening events before opening the dental clinic. However, the pre-opening events are targeted for potential consumers, local merchants and media contacts. The aim of organizing these events is to generate interest in [Company Name] and raise awareness in the community.

Pricing Strategy

In comparison to their three main competitors, [Company Name]'s pricing will be competitive. Pricing for regular, weekly patients will be determined by the average labor required for a project with a fixed price. Both for patients who are trying out the clinic services only once and who want to try out the services. Dental office business plan gives a more detailed explanation on this.

VII.- Dental Operations Plan

Sales will be made via phone calls and consultations by [Company Name]. Dental appointments will be booked in time ranges instead of specific dates that is,, 10 a.m. to 4 p.m. Wednesday. This is to accommodate appointments for longer or shorter appointments than intended. Appointments will be scheduled more closely together once patients have been served a number of times. This will be determined on the basis of service time for each visit.

What you Get in Your Dental Business Plan Package

Milestones

[Company Name]’s long-term goal is to become the highest quality provider of consistent dental services in the [city] area. We seek to do this by ensuring patient satisfaction and developing a loyal and successful clientele.

The following are a series of steps that will lead to this long-term success. [Company Name] expects to achieve the following milestones in the following [xyz] months:

VIII.- Dental Management Team

The skills and experience of [Founder's Name], are the [Company Name's] most significant asset. For the past 15 years, [First Name] has worked as a dental services manager.

Furthermore, in order to oversee most activities of the clinic, [Company name] will hire an experienced assistant. The potential assistant will be an experienced operations manager and will also be trained by [Founder's Name] in all operations carried out by the dental clinic. The ideal candidate for this position will also have an undergraduate business degree or years of experience as a medical office assistant.

Hiring Plan

In reference to the dentist business plan, we will hire the following personnel to help us launch the company:

• Dental staff: Nine full-time dentists with extensive experience. To communicate with patients, you must be able to read and speak English.To meet the increased demand for [Company Name] services, dental personnel will be required on a regular basis.


• Administrative Assistant: Must be well-organized, have excellent phone communication skills, be able to work with figures for bookkeeping, and write well.

IX.- Dental Financial Plan

Dental charges for bi-annual check-ups, extractions, and fillings will be the primary source of revenue for [Company Name] according to the dentist financial planning.

Key Cost Drivers

Labor costs are the primary cost drivers, as they are for most services. Dental employees will be paid well. Thus allowing [Company Name] to hire people who previously ran their own enterprises.Additionally, supplies and travel to client locations are estimated to account for around 20 percent of revenue according to the dental KPI spreadsheet.
The following are the primary cost drivers for the company's operations:The major cost drivers for the company’s operation will consist of:

• Salaries


• Dental equipment costs


• Maintenance of dental equipment

Using dental practice valuation worksheet, the cost drivers and revenue will indeed help the company to ascertain its market value. The dental practice valuation calculator can also be used for this.

Capital Requirements and Use of Funds

That startup capital [Company Name] is currently looking for is $292,000 to launch its dental clinic. According to the financial planning dentist, this startup capital will cover for capital expenditures, location construction, staff recruitment, marketing cost and working capital.

In reference to the dental office budget template, listed below is the breakdown of how the startup capital will be used:
- $146,000 for design and construction of the dental clinic
- $146,000 for working capital which will cover marketing, staff salaries, and lease costs until [Company Name] breaks even. Every financial planning for dentist must include the capital requirement.

Dental Financial Plan Sources And Uses Report

Key Assumptions

The following table reflects the key revenue and cost assumptions made in the financial model.

Dental Financial Plan Core Inputs

Dental Financial Plan Top Revenues Report

Dental Financial Plan Top Expenses Report

Dental Financial Plan Income Statement

Dental Financial Plan Cash Flow Statement

Dental Financial Plan Balance Sheet Statement