Starting a new dental practice is similar to starting a new business in any other industry. There are many activities involved before your dental practice can be functional; you have to make some decisions to ensure that your practice will thrive once it begins operations.

The following timeline can offer helpful insight into the processes involved.

Your Checklist: Steps to Start Your Dental Practice

Step 1: Budgeting, Financing, and Planning

The next part of the checklist to start a dental practice is finding or deciding on a source of capital.

1. Come up with a well-detailed business plan.
2. Drawing up a budget and outlining the sources of significant expenditure.
3. Review best financing options for your dental practice
4. Secure a loan

Step 2: Site Selection

The next step in the checklist is to decide on the location for your practice. Site selection is an important part of the process. Here’s what to know.

1. Scouting various feasible locations where you think your practice will thrive.
2. Surveying the feasibility of your top location picks.
3. Deciding on the location for your practice.
4. Have your lawyers and financial advisers look at your preferred location’s lease or purchase agreement.
5. Purchase or obtain the leases for your practice’s location

Step 3: Space Design

Now comes the time to start designing your space. This is the point of the checklist when you start thinking about the vision of your dental practice office and it’s design.

1. Decide on what kind of office layout will suit the needs of your practice.
2. Finalize the interior and exterior designs of the offices.
3. Hire trusted contractors

Step 4: Construction

Next on our checklist is construction work. When starting a dental practice, you’ll want to hire a team to complete this as quickly as possible.

1. Get estimates of the work to be done by your contractor.
2. Pick a contractor for the construction or remodeling to begin.

Step 5: Loans & Funding

The next part of the checklist to start a dental practice is to secure a loan. Here’s what to know about the loan process.

1. Loan documents need to be endorsed before signing the lease so you can write a deposit check.
2. Review the hard versus soft cost restrictions to ensure that the “Conditions of Lending” are quickly satisfied.

Step 6: Insurance

Having the proper insurance when starting your dental business can be very helpful. Here are some steps to ensure you have the right insurance for your practice.

1. Decide what coverage is needed for your dental business and staff, including workers’ compensation, business insurance, and liability insurance.
2. Acquire insurance for your practice.

Step 7: Equipment & Software

Dentists need reliable equipment and software to make sure the dental practice they own runs smoothly. This includes x-ray equipment, sterilization equipment, computers, and much more. Having the right equipment and software will help your dental business grow.

1. Create a list of the equipment you’ll need to run your practice successfully.
2. Get the estimates of the equipment needed.
3. Purchase the equipment needed to run the practice smoothly.
4. Review the software systems that your practice will need.
5. Decide on software for recordkeeping, business management, and customer relationship management.
6. Put together your fee schedule and payment policies.

Step 8: Marketing

With a great marketing plan, you’ll be able to bring in new patients to your practice. Your plan will include everything from your website to social media to branding. A solid marketing plan will help you grow your dental practice long-term and get customers that will continue to come back.

1. Establish your marketing goals.
2. Create a marketing strategy to follow.
3. Employ a marketing firm (or multiple firms) responsible for marketing your practice and following your strategy.
4. Create a website, social media channels, and review sites like Yelp, Google My Business, and other directories.

Step 9: Hire a Team

The next step in the dental practice start-up checklist is to hire a team. You will want to hire and recruit a dependable team that you can count on. Here are the steps to follow to hiring your dental team:

1. Review the information of the personnel that the practice will need.
2. Create job descriptions and expectations for positions.
3. Conduct interviews for staff.
4. Hire employees.
5. Have the right HR system in place moving forward.
6. Train your staff prior to launch.

Step 10: Opening Your Practice

Finally, it’s time to open your practice! Here are a few final things on the checklist to finalize before the grand opening of your dental practice.

1. Put together your fee schedule and payment policies.
2. Set your opening date.
3. Promote your grand opening on social media and through press releases, local news outlets, etc.
4. Grand opening event for members of the local community.

Closing Out

Starting a dental practice is not easy since you’ll have many decisions. We hope this dental practice start-up checklist will be beneficial during the entire process, from the business plan to the grand opening and beyond.

Our dental practice management coaches are here to help you every step of the way for those starting a dental practice. Learn more.