Categories: Advice

Starting a Business in the Dental Industry

We’re on to the letter ‘D’ today, which brings our focus to dentistry! Simply by looking at our calendars every 6 months, we know the consistent need for the dentist industry. Though it takes a lot to become a dentist- lots of time, money, and schooling- the need for dentists is so strong, that makes it a great industry to look into.

But first, how do you open your own dental practice?

After the necessary schooling is completed, the first thing you need to do is apply for a license to practice from the state’s board of dentistry. To attain this license, you’ll need to pass an exam to prove that you’re eligible to open your own practice.

Once you’ve passed, the next thing to do is decide where you’d like to open your practice. Pick something easily accessible for your patients, in a welcoming area. Along with your location search, you should be beginning to look for equipment for your practice. Even if you have to start out small with just a couple rooms available with the necessary equipment, the most important thing is to build a positive reputation with your customers. Once word spreads that there’s a new, great dentist in town, you’ll be able to grow your practice and buy more equipment.

Lastly, don’t be afraid to talk to other dentists to gain some knowledge along the way. You can read all you’d like about “How to Become a Dentist on a Shoestring Budget” but the best knowledge will always come from experience.

What should you file as?

Though you have the choice of filing as whichever entity fulfills your personal needs, lots of dentists file their practices as an LLC. This is largely due to the pass-through taxation factor of an LLC that many business owners find attractive. LLCs are also pretty easy to set up and simple to maintain. A busy dentist may like the ease that goes along with an LLC.

How healthy is the industry?

As stated above, the need for dental practices is pretty consistently in demand. John Schaar, famous American sociologist, predicts the dental industry will only continue to grow.

“The dental-care system will evolve more in the next 20 years than in the previous 50 years. Failure to change with it will likely spell stagnation for your practice.”

Interested in becoming a part of the dental industry? Give us a call at 1-877-692-6772!

Deborah Sweeney

Deborah Sweeney is an advocate for protecting personal and business assets for business owners and entrepreneurs. With extensive experience in the field of corporate and intellectual property law, Deborah provides insightful commentary on the benefits of incorporation and trademark registration. Education: Deborah received her Juris Doctor and Master of Business Administration degrees from Pepperdine University, and has served as an adjunct professor at the University of West Los Angeles and San Fernando School of Law in corporate and intellectual property law. Experience: After becoming a partner at LA-based law firm, Michel & Robinson, she became an in-house attorney for MyCorporation, formerly a division in Intuit. She took the company private in 2009 and after 10 years of entrepreneurship sold the company to Deluxe Corporation. Deborah is also well-recognized for her written work online as a contributing writer with some of the top business and entrepreneurial blogging sites including Forbes, Business Insider, SCORE, and Fox Business, among others. Fun facts/Other pursuits: Originally from Southern California, Deborah enjoys spending time with her husband and two sons, Benjamin and Christopher, and practicing Pilates. Deborah believes in the importance of family and credits the entrepreneurial business model for giving her the flexibility to enjoy both a career and motherhood. Deborah, and MyCorporation, have previously been honored by the San Fernando Valley Business Journal’s List of the Valley’s Largest Women-Owned Businesses in 2012. MyCorporation received the Stevie Award for Best Women-Owned Business in 2011.