Should You Consider A Multi-Location Dental Practice?
For those dentists whose goals include a multi-location dental practice, it can be difficult to determine when an expansion is necessary. There really isn’t one right answer to a question regarding whether to run one practice or create a similar model in addition. You need to ask yourself if you have the skills necessary to succeed in this business model!
What to consider when opening a multi-location dental practice
Below are 3 things you should think about before deciding whether or not a multi-location practice is right for you:
- Population and the prospect of growth – Once patients become comfortable with a dentist, it’s not an easy relationship to sever. However, you do need to consider the area in which the majority of your patients live in relation to your office. The most important thing you can do is study current population and growth estimates for the area you’re considering.
- Competition – Opening a new dental office in an area that already has a few practices doesn’t necessarily mean that the business will be split between all of the practices. It’s still vitally important to have a marketing plan and keep the name of your practice.
- Find the right associates – If you open multiple dental practices, you have two options – you can either practice less, as you won’t have the time t practice full time while running multiple locations, or you can choose to delegate. It’s important to have office administrators at each location who have a vested interest in your dental practice and its success.
Here at CTC Associates, we can help you work through the decision-making process regarding a multi-location practice, and assist you with whichever option you choose. Give us a call today to get started!