How To Set Up A Squat Dental Practice?
What is a Squat Practice?
Why Do you Need Squat Dental Practice?
Dentists are considering opening up a squat practice majorly because:
- Better earning – setting up a squat practice can earn you more money in the long run.
- Independence – you can run the practice as per your terms and liking
- Future Prospect – upon the success of your squat practice, you can consider expanding it or even opening other practices.
Right from the start, the key is to focus on a clear plan along with these few key aspects that will help you to set up a successful squat practice.
Steps to Opening a Squat Practice
Here is the step-by-step guide to building squat dental practices.
Set the Goals
Setting out the goals is the first and foremost part of setting up your squat practice. Your entire business plan revolves around these goals. You will need to set up goals that are realistic and measurable. You can start by setting out what you plan to achieve and by when. It can be having a certain number of new patients by the end of a certain number of months. You will also need to plan the services that you will be offering in such a way that there isn’t any gap between demand and supply.
Select an Appropriate Location
Your practice location is (nearly) everything. It is one of the most crucial aspects that can determine the success of your practice. It is favourable if you choose an area that you know well or have done extensive research into. You should also consider other factors such as:
Demographics – if your target demographics live nearby
Competition – the area should have enough room for another dentist
Footfall – the busier the area the higher the footfall
Ease of parking – if the parking is available nearby or is free
As well as these factors, access for the disabled into the building, possible expansion, ventilation and the overall look and feel of the property are also important factors.
The Required Finance
You will need to budget for the premises, equipment, maintenance, staffing, marketing and fit outs/refurbishment costs. You will also need to consider the fact that it will take some time for your practice to become profitable. So, you will also need to source the working capital at least for the first year or so.
You can consider hiring a good accountant who has some experience working with dental practices. The accountant will help you find the most cost-effective approach to managing your finances.
Marketing is a vital investment for a new dental practice. In today’s time, a good quality website and an engaging and active social media presence are important. It is advisable to start your campaigns early so that potential customers can know that you are opening soon. You can even market offers such as reduced-cost initial checkups or a referral scheme to acquire new patients.
Consult a Reputable Fit out Contractor
Well, don’t mind us being biased here, you will need to choose a trusted fit out company after all. Choosing a contractor like us who has the experience and the qualification to plan the perfect dental surgery fit out makes all the difference. We can offer a comprehensive fit out solution, from start to finish. This includes initial surveys, design, construction and even the CQC approval process. We will offer solutions to all your challenges. Whatever be your requirement, be it empty shell fit outs or refurbishment of an existing premise, we will do it all.
You will need to list out all the equipment you will need and also budget for it. It needs to be done at the early stage as it is a significant expenditure. It is often advisable to organise financing for your equipment rather than buying it outright. Some of the suppliers offer their own finance deals as well. You can also look out for second-hand equipment but make sure that the compliances are met and you are utilising a new technology.
The list of equipment may include:
- Dental chair
- Suction pumps
- Air compressors
- X-ray machines
- Decontamination equipment
- Reception desks and seating
- Supplies and PPE
You might get tempted to cover as many roles as possible yourself to reduce the expenditure. However, you should consider hiring a practice manager in the initial days. They will be able to take up the day-to-day running of the practice. This will let you focus on meeting the needs of your patients.
You will also need to consider hiring a team that can take up certain key roles of infection prevention and control, compliance, customer enquiries and cleaning.
Setting up a squat dental practice does require a lot of hard work and commitment. However, it can be a great opportunity to take control of your future. For this, you will need to have a robust plan and the determination to succeed.
As far as the dental surgery contractors are concerned, we are here to help you out. We can reduce a lot of your stress by providing comprehensive fit out and refurbishment solutions. So, if you are ready to start up your squat dental practice and looking for a trusted dental fitouts contractor in London, get in touch with us to book a free design and consultation with our team of experts.