The ripple effect: An insight into growing your dental practiceNews
Posted by: The Probe 14th September 2021
As a dental practice owner, you may be taking the time to review where you are today and looking at ways, large or small, to optimise the success of your business, both now and in the future.
Having a good understanding of the financial aspects of running your practice will help towards improving profitability, which can be achieved in a number of simple yet effective ways. Benchmarking is one of these and provides a useful indication of practice performance within the current market, helping you to develop efficient growth plans.
Embarking on the acquisition route could be another option to consider. Making a business acquisition is a fast and effective way to grow your dental business. It can give you immediate cash flow, ready-made customers, assets, a new geographical location or reduce competition, and can minimise the risks and time associated with growing your practice organically.
Obtaining funding for your strategic acquisition will be a key part of the process, so having a clear insight into the ‘perfect practice’ in the eyes of a lender will support your application preparation.
Hazlewoods Business Advisers and Chartered Accountants dental experts will be working with Lloyds Bank Healthcare specialists to help shine a light on some of these key areas for growing your dental business in a live webinar, Tuesday 5 October 2021, 6.00pm-7.00pm. Find out more here: bit.ly/hazlewoods-dental-webinar-21