You are a dentist and haven’t thought of starting your dental practice? We don’t believe it. According to a national research study from Bankers Healthcare Group out of every 100 dentists, around 35 of them want to own their own dental office someday.
And we know you might be one of them and you don’t have a complete roadmap, have different thoughts, and whatnot.
Therefore, we have crafted a comprehensive blog to help you find the answer to the question you have in mind “How to start a dental practice in Chicago?”
To make it easy for you we have divided our blog into three sections
Stage 1: Business Planning
Stage 2: Exploration & Teaming Up
Stage 3: Making it Happen
Stage 4: Patient Acquisition and Marketing
How to Start Dental Practice in Chicago: A Quick Guide
How to Start Dental Practice in Chicago | 4 stages
Let’s explore each step one by one
Stage 1: Business Planning
We divided this stage further into the following steps
1. Crafting your vision and Finding our answer
In this step, you need to craft a vision and find the reasons for the following questions:
- What kind of dentist do you want to be?
- Do you want to focus on general dentistry, or specialize in a specific area like pediatrics or orthodontics? What kind of experience do you want to create for your patients?
- Do you want a modern, high-tech feel, or a more relaxed and comfortable atmosphere?
Having a clear vision will guide your decisions as you move forward.
How-To: Grab a notebook and brainstorm! Write down your goals, both professional and personal. Think about the kind of patients you enjoy treating and the services you find most fulfilling.
2. Owning Your Practice
Find out the pros and cons. Owning your dental practice brings freedom but also a big responsibility of managing finances, staffing, compliance with rules and regulations of the state, and the overall success of the practice.
How-To: Talk to other dentists who own their practices. Get their honest feedback about the challenges and rewards of practice ownership.
3. Your Demographics
Consider factors such as the age of the target group, their income level, and the availability of dental facilities in the concerned areas. It is essential to understand them, as it will assist in the organization of services and promotion.
How-To: The Chicago Department of Public Health has demographic data available online. You can also use business data services to get more detailed information.
4. Standing Out From the Crowd
Developing a brand for your practice is one of the best ways you can set your practice apart from the others. This includes your practice name, your logo, and the overall ambiance or theme of the practice you wish to set. Consider the unique selling proposition of your practice and the perception about you that patients should develop.
How-To: Think about your vision and target audience. Do some brainstorming to come up with a catchy name that reflects your brand. There are also online logo design tools you can use to create a professional logo.
5. Financial and Feasibility Check
Research startup costs for dental practices in Chicago. Consider things like rent, equipment, renovations, dental supplies, staffing salaries, and marketing costs.
How-To: According to the American Dental Association (ADA), starting a dental practice can set you back around $500,000. Here we have shared a rough draft for How Much Does It Cost to Start a Dental Practice? Based on various resources
What Is the Average Cost of Starting a Dental Practice?
There’s no one-size-fits-all answer, but we can explore the average costs and key factors that impact the final bill.
- Low-end: $170,000
- Average: $475,000 – $550,000
- High-end: $750,000
However, the cost depends on various factors like insurance, legal requirements, payroll locations, and more,
Dental Office Construction Cost in Chicago (2024)
| Dental Office Construction Type | Average Cost per Sq. Ft. | Average Total Cost (2,000 sq. ft.) |
| New Construction (from scratch) | $150 – $250 | $300,000 – $500,000 |
| Renovation | $100 – $200 | $200,000 – $400,000 |
Source: Masterdent group
Stage 2: Exploration & Teaming Up
This is the second and most important stage. Let’s explore what in this stage
1. Building Your Dream Team
Get a team of experts to support you through the journey. Many different types of professionals may be interested in dentists’ practices, including accountants, legal advisors who focus on healthcare law, and consultants for dental practices.
How-To: First, you should use your colleagues’ opinions – other dentists, or ask your friends who work in the same field for suggestions. During hiring, be sure to interview potential team members to ensure they are the best fit for the team.
2. Finding the Perfect Spot
Search for a property in strategic positions that are well accessible by patients. Factors to consider include size, arrangement, parking space, and accessibility to the public transport system.
How-To: Consult with realtors who have experience in the commercial market. Be sure to tell them your budget and the preferred area. Drive around different neighborhoods to see what feels right.
3. Who’s Your Competition?
This means researching other dental practices that are located in the particular region. What they are offering? How can one stand out in a crowd? Is their website well-developed and easy to navigate?
How-To: Visit online directories, and review other dental practices. Locate their specialization, costs, and ratings from patients who have used their services.
4. Building Your Dream Office
Arrange a meeting with contractors to share your ideas about the work organization of an office space and its design. Consider from the patient’s point of view – will they have a place to sit or wait comfortably? How will you guarantee privacy, especially for the consultations?
How-To: It is wise to look for contractors who have previously worked on dental office construction projects since they have more knowledge of dental office build-outs than general contractors do.
There are companies like JRA that specialize in helping dentists navigate the dental practice startup process in Chicago. With their help, you can save time, and money, and ensure a smooth launch for your dream practice!
As a rule, it is better to contact several contractors and get a quote from each of them before making a final choice.
Stage 3: Making it Happen
Now it’s the final stage of executing your dreams to have your own dental practice. It involves several stages such as:
1. Designing Your Dream Space
Work with an architect or designer to create a functional and welcoming space for your patients. Consider things like lighting, flooring, and the placement of equipment.
How-To: Look for designers who have experience with healthcare facilities. They will be familiar with regulations and can help you create a space that is both aesthetically pleasing and meets all safety standards.
2. Equipping Your Practice
Consult with a dental equipment specialist to ensure you have the latest technology. They can help you choose the right equipment for your budget and needs.
How-To: Get quotes from multiple dental equipment suppliers. Consider both new and refurbished equipment options.
3. Legal Matters
Hire a lawyer to handle legal aspects like permits, business entity formation, and compliance with HIPAA regulations.
How-To: Look for a lawyer who specializes in healthcare law. They will be up-to-date on all the latest regulations.
4. Financing Your Dream
Finalize your loan and lease agreements. Shop around for the best interest rates and terms.
How-To: Talk to your bank or a credit union about small business loans. The Small Business Administration (SBA) also offers loan programs for dentists.
5. Hiring Your Team
Start hiring qualified and friendly dental hygienists, assistants, and office staff.
How-To: Post job openings online and in dental publications. Attend dental job fairs to meet potential candidates.
Stage 4. Patient Acquisition and Marketing
Marketing and patient acquisition are prerequisites for creating a thriving dental practice in the increasingly competitive Chicago environment. The overall marketing plan is crucial in identifying potential clients to attain a strong and steadfast customer base of patients.
Here’s a successful way to patient acquisition and marketing for your dental clinic:
1. Website Development
Start with the basics and that is to build an attractive and easily navigable dental site for the patients that represent the dental practice.
If you are going to design your website, then the information, that you need to present, is the information about your services, team members, office location, contact details, and patient reviews or feedback.
How to: Ensure your website is optimized for mobile since many people access websites through their mobile devices, and you should have strong call-to-action messages that will lead to people booking their appointments.
2. Social Media Marketing
Reach out to the target demographic by posting in relevant groups and on social media sites including Facebook, Instagram, and Linked In. Social media marketing is employed by 76% of firms that recognize its importance for sales, and 41% have adopted its use for this purpose.
How to: Show that you know your stuff and thus, build your credibility, offer useful information, tips about dental procedures, testimonials, and inspiring stories of your patients. Encourage patient participation and reviews to boost your clinic’s online reputation.
3. Search Engine Advertising
Paid advertisement is another channel that may be effective in reaching out to a large population in the shortest time possible. You should think about using Google Ads, Bing Ads, and many others, to advertise your clinic’s services.
How to: To be able to achieve higher returns on your advertising investment, aim your advertising at a particular sector of society and particular localities.
4. Search Engine Optimization (SEO)
You need to apply various SEO techniques to promote your clinic and achieve better visibility for your website on search engines such as Google. Ensure that you use the right keywords about dental services in your website content from the Chicago area.
It is identified that as many as 97% of consumers start looking for local businesses online and if you want your dental clinic should come in the first few pages, local SEO is very much needed.
How to: Specific to local SEO approaches like targeting “dentist near me,” it will be easier to capture the residents who are searching for dental services. Choose an affordable SEO plan for the dental practice.
The strategies mentioned above regarding patient acquisition and marketing will assist you in moving your clinic forward in Chicago, getting more consumers, and enhancing the dental brand reputation in Chicago.
6 Factors That Impact the Cost of Starting a Dental Practice
Now, let’s delve into the main factors that can influence the total cost:
1. Loan Payments
If you have been using a loan to finance your practice, then monthly installments will be an incurring overhead expense. This expense further depends upon the amount of the loan granted, the prefixed rate of interest, or the term of repayment.
2. Insurance
Professional liability insurance, liability insurance, and property/ building insurance are other insurance coverages necessary for your practice. Premiums can be influenced by the enrolled region, the level of coverage selected, and the personal characteristics of the insured.
3. Physical Location
You should also expect to pay a better price for the offices or property you intend to rent if they are located in the best business locations. Some of the number factors which are concerned with the patient and client end include how accessible is the place for the patients as well as the possibility of creating a market for the clinic.
4. Payroll
Your staff’s remuneration, particularly the employees that include the hygienists, assistants, and front desk receptionists, will be among the largest costs that are recurring. Several factors define this cost, namely the size and the level of experience of the workforce in your team.
5. Licensing and Legal Parameters
The expenses involved while applying for the license and permits required to run your practice will be in terms of the fees.
It is also important to note that seeking professional help from a lawyer regarding incorporating and ensuring legal compliance can also be expensive at first.
6. Practice Equipment
Over the years, technological advances in dental practice have become very costly. The equipment required and the extent depend on the services that will be offered in the business. which kind and how much equipment will be necessary depends on some particular services you are going to provide.
For example, an X-ray machine, digital scanners, and dental chairs – these are expert services that may affect your budget drastically.
Wrap Up!
Take advantage of this guide on “How to start a dental practice in California?”
According to the CDC, 47.2% of Chicago’s people aged 30 and up have periodontal disease. This demonstrates the ongoing need for accessible and high-quality dental care services across the state, including Chicago.
Dentists may improve the local healthcare landscape by embracing innovation, community involvement, and focusing on patient-centered care.
With careful planning and a commitment to quality, ambitious dental professionals can embark on a profitable professional journey while also helping contribute to better oral health outcomes in Chicago.
