Posted on April 15, 2022
Completing the necessary schooling and transitioning a dental practice into an orthodontic practice can be exciting. There are many factors to consider, though, when planning to purchase an orthodontic office for sale, transition a practice, or open a new practice from scratch. Here are the three things to consider before transitioning.
It is always helpful to research the demographics of the area you wish to open a practice in. Be sure to look for town or city population, age statistics, and how many other orthodontic practices are already present in the area. You will be in the best shape if you choose an area with minimal competition and multiple school districts. Preteen children, high schoolers, and even parents present a likelihood that there will be a high volume of need for orthodontic treatment. Parents and adults will surprisingly make up 25% of your customer base, that being the four million people who visit the orthodontist every year, according to Humana.com.
Both the dentist and orthodontist can be frightening visits for small children. While a dentist appointment may only happen twice a year, children may have to visit the orthodontist every couple of months. That being said, it is never a bad idea to design your practice with welcoming colors and friendly decorations. Many children are soothed by seeing stuffed or illustrated animals receiving the same treatments they are getting. Building a dental practice may be more tailored for adults, but the majority of your orthodontic patients will be much younger.
Regardless of where you are selling a dental practice or transitioning a dental practice into an orthodontic one, it may be slow to acquire patients at the beginning. But as time passes and more people refer your practice to friends, you will be in better shape by the time you need an orthodontic practice valuation. What remains important is that you keep your eyes on the goal: providing people young and old with oral treatments that can transform their confidence and lifestyles. Planning a timeline with goals for how many patients you’d like to have in the office by certain dates can help keep your employees motivated.
If all goes well, selling orthodontic practices will never cross your mind after transitioning a dental practice because the process went swimmingly. If you’re opening a new practice in the same area, there is a high chance you’ll absorb familiar patients. If this is the case, be sure to market your practice on social media to allow for shares, exposure, and putting your name out there!