Page 31 - The Dental Entrepreneur

The Dental Entrepreneur

Other Metrics

There are several other metrics that might be relevant in your search for a viable opportunity.
This is just a sample of the type of information available that most professionals use to
determine the economic viability of a venture. I start with my own version of a micro view that
others may miss.

Office Hours and Google Reviews Of Surrounding Offices

If you want to really drill down into the micro after you have chosen a prospective location. I
like to look at the office hours and the Google reviews of all dental offices within a prospective
radius, say two to three miles. If there is not a single office open on Friday (this is not unusual)
and the reviews are on average 3 to 4 ish, that could show an area ripe for someone fresh and
new. The converse is also true. If several offices in an area have expanded hours and stellar
reviews. That could be an extra tough market to break into regardless of the dentist/population
ratio.

Employer, Employment and Wage Information

Most states have an agency responsible for labor statistics. It may be called the Department of
Economic Security, the Department of Labor, or The Employment Security Department. The
State Chamber of Commerce may also be of help. A good indicator of solid employment.

Retail Sales Statistics

Contact the County or State Department of Revenue. City information on retail sales is
available from the Sales and Us Tax Office, Department of Finance, Treasurer, or Budget
Office.

Building Permits

City or County Planning Department, Building Department, or Development Division. This can
be a great indicator of community growth. It is also possible to determine certain “corridors” in
a community that have in place plans for development over the coming decade.

Commercial Airline Passenger Data

City or County Department of Aviation, public Authority, or State Department of transportation.

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