Starting a dental practice: Planning your business
- Write a business plan.
- Create a financial plan.
- Find the right insurance.
- Pick the right location.
- Talk with someone in the field.
- Create a user-friendly website.
- Use tools like Google My Business.
- Establish a social media presence.
How much does it cost to start a dental office?
We have seen new dental start-up total cost range of $350,000 to $500,000, with an average startup costing $475,000.
How profitable is a dental practice?
On average, general practices are bringing in $771,000 in annual revenue and specialists are bringing in $1.1 million. So why aren’t dentists making more money? The answer is simple: overhead. Both GPs and specialists are spending 75% of their annual revenues on overhead costs, leaving only a 25% profit margin.
Do you have to be a dentist to own a dental practice?
Today, whether you are a dental nurse, hygienist, therapist, technician or practice manager, you could have a stake in a dental practice, or even own it. Conversely, if you are a dentist who is married to a dental care professional (DCP), you can – and possibly should – go into business with them.