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Building a Business Plan

Building your business plan is an essential part of starting a dental practice.

If you are planning to start your own healthcare business then you must have a business plan.

Having a vision is great, but not having a plan or a route map of how you are going reach your vision is professional suicide. Most businesses fail mainly because they rarely think about the pitfalls that may arise whilst in business. This is why building a business plan is so important. The planning stage is all about identifying the possible problems in advance.

Their advice and ongoing support has been invaluable and I will highly recommend them, for any dentist setting up a squat practice or hoping to buy an existing practice.

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So what exactly is a business plan?

Simply put, a business plan is a constantly evolving document that tells you, and its readers, the “what” and the “how” of your business. It is a communication tool that conveys your ideas and thoughts, and outlines how you are going to put these ideas and thoughts into action.

It is a document that is constantly evolving as you change, grow and build your business; whether you are just about to start your own practice, or have been in practice 25 years. Building a business plan is an imperative in today’s changing business environment and not something that should just be in your head.

The key stages of a business plan include the following:

  • Executive Summary – an overview of the plan, usually written last
  • Describe the business – what type of business is it, what do you plan to set up?
  • Market study, market positioning – is there a market in the area you want to open up for these services?
  • Vision and mission
  • The business strategy – what are you going to do
  • Plans for products and services
  • Financial forecasting
  • Highlight risks and opportunities
  • Conclusions

Once you have a comprehensive business plan, not only will you be in a much stronger position for approaching banks and other lenders for financing your practice, you will also be much more focused and driven to reach your goals.

Help with building a business plan

If you are looking to build or grow a business and need help with building a business plan please get in touch with us or book a free consultation.

Creating a Business Plan

Free Downloadable Documents

Click here to read our article on How to Finance a healthcare business.

Starting a Dental Practice: Get Started

We’ve been helping the UK’s dentists start their own practices for nearly 20 years and we know exactly what it takes to make your practice a success!

Our Dental Practice Start-up Programme is a hands-on consultancy service designed to take you through your whole journey to becoming a dental practice owner. Book a free, no-obligation consultation with one of our team at a time that suits you (including evenings). We’ll call you back and have a chat about how we can help start your dream practice.

Contact us today for all the advice, support and expertise you’ll ever need to start a dental practice.

Learn More: Starting a Dental Practice

For more information please check out the articles and webinars in the start a dental practice section of our Learning Centre, like our guide on How to Start a Dental Practice in 13 Steps.

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