Ready to create a business plan for your dental practice? The good news is that you can follow the same general guidelines as other small businesses.
Before you begin, ask yourself these key questions:
- Can you describe your potential dental practice in detail?
- Do you have an actionable marketing plan?
- Who is in the market? What are they doing right - or wrong?
- What pricing and payment policies are you considering?
- What’s your growth strategy?
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Components of a Business Plan
Existing dental practices may also need to update their business plans, especially if they want to expand.
An updated plan needs:
- Your dental practice’s financial position
- Your current debt, if any
- Updated lender information and terms
- A recent financial comparison with similar businesses
- An analysis of your current costs and your “break-even” point