There comes a time when a dental practice faces a choice. After years of steady development, the practice has reached the point where it has maxed out its profit potential. The dentist then faces the choice of remaining consistent, yet complacent, or to find a new route to make the practice grow.
Usually, that time comes after the dental practice has been established for a time to the point where it has hit current limit of potential clients. Those that truly are looking to continue to develop the practice should look into the option of acquiring more dental office space. With more space comes the potential for expansion that can increase business and a dentist’s clientele.
Those who are interested in expanding should note why you should expand, when to expand, and how to do so.
Why You Should Expand
Some dental practitioners likely would get personal satisfaction from being able to expand their practice. Others are seeking greater profits as more dental office space could potentially result in an increase in clients, leading to more funds streaming into the office. More rooms mean more potential clients, though that is somewhat offset by a need to build a bigger support staff.
A more practical reason would be also because a dental practice needs to expand at some point simply to keep up with the times and the technological advances regularly made within the dental industry. Perhaps better equipment means a need for a new room and you should always strive to have the latest tech available for your clients’ needs.
One last reason to expand is that you are building your equity and real estate value in preparation for the time when you do sell your practice. When that occurs, more office space means a higher selling price.
When Should You Expand
Sometimes, expansion can come in a brand new office and take on junior partners. Other times, it is a matter of simply expanding your main office outward in order to bring in new clients to help grow the business.
Either way, you need to transition from simply operating as a dentist to being more of a practice owner. You need to think outward more instead of simply providing a service to clients. You need to be ready to dive in and learn business skills and how to manage your practice from a financial and resource-oriented point of view.
If you are finding that your practice is cramped or starting to look outdated, then it is time to acquire more dental office space. Noticing when things have reached a saturation point is an indication that you could be ready for expansion.
How to Expand
The focus on an expansion involving more dental office space is to focus on rooms that produce the services such as hygienist rooms, X-ray rooms, and treatment rooms. If you are feeling cramped in these areas, that is another sign you should think about expansion.
While you want space for a waiting room, a reception area, and a storage room or two to house information and spare equipment, the key is expanding a practice is to maximize rooms which help you service your clients’ needs.
Expanding a dental practice takes a lot of thought and consideration. But, it usually is worth it when done properly. For those who are interested in a possible dental office expansion or trying to incorporate more dental office space, contact HJT Design Consultants. They have experience in understanding clients’ needs and providing the necessary knowledge and support to help you maximize your practice once again.