Dental Solutions LLC | Application Preview
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General Information
Business Registration Number: DENTAL SOLUTIONS
Location: Greenbelt, MD, United States
Length of Operation: 6-10
Number of Employees: 1-10 Employees
Annual Gross Income: $1M to $10M
Annual Gross Expense: $500k to $1M
Open to Loans: NO
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Funding Usage
The dental community has been hit particularly hard by the Covid 19 pandemic. Patients have been afraid to return to the dentist and have been abstaining from dental care. Staff members have also been reluctant to work, particularly dental hygienists who have been known to take early retirement in fear of contracting the virus. The hourly wage of a dental hygienist has gone from $45/hr pre pandemic to now $65/hr post pandemic. Wages, rent, utilities, and supplies have skyrocketed post pandemic in response to inflation and supply chain problems. Small dental clinics like mine that offer personalized and loving care for patients are being drowned out by corporate dental practices that put profits first. Our office was forced to shut down during the pandemic for three months. During this time period, I continued to pay business loans, and pay staff members so that they could support their families. Our business took a huge loss. There are many ways extra funding can be used. Advertising with SEO, Google, flyers, Ads, and ZocDoc is very costly, but can bring patients through the door and thus increase revenue. ZocDoc charges $110 for every new patient. This patient in time can generate even more revenue by referring friends and family. Google Ads charge a cost per click, sometimes anywere form 10 cents to a dollar per click. It is best to spend at least $500/month for Google ads. Improving our website can help our visibility online. Business planning is very important. Budgeting, analyzing cash flow and expenses can help us determine where we need to cut costs and where we need to invest. Ramping up advertising will lead to more patients and thus increase revenue. Increasing the amount of procedures and services offered will also increase revenue. For instance, offering dental implants and PRP for healing will increase revenue. In order to do this, we must buy equipment to place implants (CBCT $80k), intraoral scanner ($30k), etc), equipment to develop PRP(centrifuge 2k), and invest in continuing education for the doctors. In order to adapt to a changing market, it is important that staff and doctors receive training on the latest technology, clinical skills, patient care, and office management. In order to be competitive in an environment where corporate dental clinics dominate, we must excel at cutting edge technology and differentiate ourselves with unmatched patient care. I believe in not only investing in equipment and technology, but also in staff members. The more trained and educated our staff is, the more efficient they can operate, improving the patient experience. Staff members need to be trained on clinical assistance, scheduling procedures, via email and phone call, monitoring inventory, basic in office troubleshooting. Extra funds
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Business Plan
There are many ways extra funding can be used. Advertising with SEO, Google, flyers, Ads, and ZocDoc is very costly, but can bring patients through the door and thus increase revenue. ZocDoc charges $110 for every new patient. This patient in time can generate even more revenue by referring friends and family. Google Ads charge a cost per click, sometimes anywere form 10 cents to a dollar per click. It is best to spend at least $500/month for Google ads. Improving our website can help our visibility online. Business planning is very important. Budgeting, analyzing cash flow and expenses can help us determine where we need to cut costs and where we need to invest. Ramping up advertising will lead to more patients and thus increase revenue. Increasing the amount of procedures and services offered will also increase revenue. For instance, offering dental implants and PRP for healing will increase revenue. In order to do this, we must buy equipment to place implants (CBCT $80k), intraoral scanner ($30k), etc), equipment to develop PRP(centrifuge 2k), and invest in continuing education for the doctors. In order to adapt to a changing market, it is important that staff and doctors receive training on the latest technology, clinical skills, patient care, and office management. In order to be competitive in an environment where corporate dental clinics dominate, we must excel at cutting edge technology and differentiate ourselves with unmatched patient care. I believe in not only investing in equipment and technology, but also in staff members. The more trained and educated our staff is, the more efficient they can operate, improving the patient experience. Staff members need to be trained on clinical assistance, scheduling procedures, via email and phone call, monitoring inventory, basic in office troubleshooting. Extra funds can also be used for rent/lease (6k/month) and utilities, which are universal expenses. We are a minority women owned and minority women run. About 70% of our patients are minorities, and we are proud to serve our community's dental health care needs.
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Self Identified Competition
1. Greenway Dental Group 2. McCarl Dental Group 3. Greenbelt Dental Associates We are the only general dentist office in Greenbelt Maryland that is minority women owned and minority women run.
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Contact Applicant
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