Page 35 - The Dental Entrepreneur

The Dental Entrepreneur

The Business Plan

I found some great online resources for the creation of your business plan. Bplans.com offer a
variety of samples that are industry specific. They make considerable use of graphs and charts
and once bundled into a presentation folder this would look top notch. I will go thru their
outline and add some input to some areas that could be improved. Liveplans.com allows you
to construct and maintain your business plan online for a monthly subscription model.

Executive Summary

In this section you make a comment on your personal objectives, mission statement, and what
you see as the keys to your success.

Company Summary

In this section you describe the corporate structure that you have chosen ad your estimation of
start up costs.

Services

A fairly comprehensive list of services you intend to provide are listed here. Any industry trends
should be noted. Any anticipated future CE that will lead to revenue such as implants or
orthodontics can be projected here even though you do no have the current skills.

Management Summary

Here is where you describe your personnel plan. How many initial employees and estimates of
salary expense.

Market Analysis & Demographics

In this section are the categories of market segmentation, target markets, and service
business analysis. This is where I would enclose my entire demographic report. Having this
level of knowledge about your market shows a lot of business acumen. Any factual data that
you can use to show that you put some thought into why you have chosen a particular
marketplace. It may be that you want to be the “Family Dentist” and have the demographic
data to back that up. You may be setting up in an office complex targeting executives with
early, lunch time or evening appointments. The point is that your site was not randomly
chosen. You have some preconceived concepts about the particular area of the community
that you have planned to open a business in. Is the market where you are setting up in a
growth area? Can you quantify this with building permits and demographic data? What are the
major trends in the dental marketplace overall and how does this impact your plan. Summarize
your views on the trends and firmly communicate your goals and vision for your future. These
are the elements that will make an impression on your lender.

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