Dentistry is one of the highly sought out professions in the U.S. It’s regarded as a high-paying job, and many experts believe that private practice can net you more money if you can grow it. However, developing a dentistry business is no easy task. It is regarded as one of the more complex business models to grow simply because of its nature.
In this article, we will be exploring ways you can grow your dentistry practice. If you haven’t privatized your practice yet, don’t worry; these ways might be able to convince you to give it a shot. We can start by talking about franchising.
Offer More Services
Another way to grow your business and your clientele is to offer more services to the public. It’s pretty common to hear many dentists practice general procedures such as tooth extraction and teeth cleaning, but not a lot expand to cosmetic or orthodontic practices. Big companies like Feel Good Dentistry even offer services such as sedation dentistry. This is a pretty rare procedure to find, which means thousands of Americans are willing to seek your clinic if you’re offering it.
Offering more services is comparable to selling new and different items in a retail shop. It helps bring in new customers seeking your new products, enabling you to get ahead of your competitors.
Utilize Online Platforms for Branding
The next step is marketing yourself and creating a brand for your practice. Dentistry is not a highly competitive practice. There are only about 200,000 dentists in the U.S. Therefore, it’s likely that you will get hundreds of clients visiting your clinic every year. However, despite not being all that competitive, there is still some competition out there. If you want your practice to grow, you’ll have to develop a brand.
Currently, the best and easiest way to grow your brand is by having social media presence. Social media is a platform that brings everyone together nowadays, and it’s for free! Posting there once a day should let people know that your clinic exists. That’s usually enough for people to visit it. However, if you want to take it further, you should start telling people to leave reviews about your clinic.
Online reviews are driving many online sales and services worldwide. About 90% of consumers check online reviews before buying an item or booking a service. It’s the lifeline of many businesses right now, and many marketers suggest that every small business should leverage this opportunity.
You can give discounts or coupons to people who write reviews on your site, whether positive or negative reviews. It’s one way to build your brand while also creating a group of loyal clients.
Newsletters are also a great way to build your brand. Not many dentists do this, but monthly newsletters are one way you can bring loyal customers to your clinic. Your newsletters can be about all sorts of dental procedures or exciting experiences you have in your office. You only have to write 12 of these things per year, and it is scheduled to be sent once a month by an email bot. It’s as simple as that!
It’s not unheard of for dentists to franchise their clinics. But it’s also rare enough that we don’t see enough of them out there. There are several prominent brands out there, and each franchise earns millions of revenue every year.
If ever you’ve grown your practice as a brand, franchising is a good option for you. Different dentists will be willing to bring your brand to success, and all you have to do is quote them a price.
A reasonable franchise fee is around $20,000 to $60,000. That’s roughly enough to build a clinic with modern equipment. You get a portion of their revenue while they keep the rest. Furthermore, by having more clinics, the more likely your brand will grow.
Lastly, if you want your practice to grow locally, you should consider sponsoring a couple of events in your neighborhood. There are many events you can sponsor, and it doesn’t have to be related to dentistry in any way. For example, sponsoring a charity ball or maybe a school event are great options for you to market and grow your business locally.
Growing your practice should be your main priority to earn big bucks in the dental field. It’s one way you can become even more successful in the field. So give our suggestions a shot and see which ones are meant for you.