FIND THE ADVISORS YOUR DENTAL PRACTICE WILL DEPEND ON HERE
Finding the right support is key to growth
Finding Advisors who support the dental sector might help you make the most of your business
The dental profession is highly competitive and technically challenging.
Maintaining the profitability of your practice means a constant need to update your knowledge - not just of the clinical aspect of your practice - but of the business side too. Running a successful dental practice means, ultimately, running a profitable business, and understanding all the issues that affect that profitability demands an entirely different type of expertise.
So, for example, you must have knowledge of the latest marketing techniques. You must be fully aware of any developments in regulations and legislation. You may need to be aware of new developments - such as web-based businesses - which could affect your practice deals with dentures and partials. You will also need business management knowledge, and have answers to questions ranging from HR and asset management to financial forecasting.
Experienced advisors to the dental profession can provide access to the key knowledge you need on every aspect of practice management.
Finding advisors who can support your dental practice is vital
The Rangewell Dental Services Directory
At Rangewell we have assembled a directory of support services your dental business can rely on - and made it free for you to use. Call us to find details of the professionals who can help with expertise and services you need - and who cover your location, including:
- Sales and acquisition agents
- Equipment suppliers
- Legal Services
- Media services
Why you need a specialised advisor to help you run your dental practice
As a practice owner, you are responsible for every aspect of your dental service, both clinically and as a business. It means that you need to call, not just on your expertise, but on staff management, finance, nursing, business planning, law, a growing list of regulatory demands and much more besides.
Very few people can offer the full spectrum of expertise. Being able to call on an advisor who has the necessary knowledge could provide your business with the key support you need.
Finding the right advisors, with expertise and judgement that you can rely on when you make your decisions, can help you deal with issues and challenges - and help you drive your practice forward.
Planning is vital for the success of any business is vital for success. A business advisor who understands the dental profession can work with you to develop a business plan that is fully viable, and which can take into account their knowledge of the local market, demographics and conditions.
Being able to support your objectives with an expert understanding of the solutions other practices have employed can be vital. Being able to field a business plan supported by this real dental business expertise can let you maximise your chances both of securing the necessary funding, and of enjoying real business success.
General Dental Council compliance
The General Dental Council regulates dental professionals in the industry within the UK, but an advisor can help you ensure that your practice will meet and exceed the standards set by the council.
This will include benchmarking and planning to ensure your team meet the necessary standards of service, and where any shortcomings are identified, provide ways to help resolve them.
If you are already facing issues with the GDC standards, an advisor could help you challenge the report - or work with you to compile an improvement plan.
Training and recruitment
Training needs to be ongoing. Ensuring that you and your staff have up-to-date skills and work to best practices can ensure that your practice can continue to deliver the clinical standards you need.
In addition to training, an advisor may also be able to provide valuable input in team management, in appraisals and in disciplinary and grievances procedures, with retention and recruitment.
Even with a sound business, your profitability can never be taken as a given. A new competitor, an online service or population changes can all mean that your business must adapt and find new working practices.
It is vital to have advisors who can identify the current issues and how they are affecting your business - and help you develop solutions which will help you to get your practice back on track and return to full profitability.
You may need advice on costing, marketing, staffing or more. An advisor will be able to provide the advice you need.
Developing and extending your dental practice may be crucial to its success, helping you compete, or even stand out against, against the major franchises and chains.
An advisor with relevant sector skills can provide advice on the tax-efficient implementation of business strategies, and support during restructuring, mergers and acquisitions.
This can include developing budgeting models that can be used for comparison against actual results and making full use of measures such as capital allowances and other specialised tax issues.
Thinking about selling your dental practice?
The time will come when you are ready to pass your dental practice on.
An advisor with an understanding of the industry will be vital to find suitable buyers and to maximise the sale price. They can take a detached view of your practice, and help you present it in its best possible light. They can also help you find the potential buyers you would otherwise miss.
Finding the specialist advisors your practice needs
At Rangewell, we work with dentists across the UK, to help them find the funding they need.
This means that we work closely with many professional suppliers serving the sector and are always happy to share our knowledge.
We will be happy to introduce you to a specialsit in your region who is ready to provide the expertise you need. Please call us on 020 3318 2613.
Joining the Rangewell Dental Services Directory
Are you an advisor with expertise in the dental sector? Please contact us to discuss being added to our database. There is no charge for advisors who wish to be included in our services directory.
Call us now on our dental support line 020 3318 2613.
Download Rangewell’s free and detailed guide to Business Lending for Dentists
What type of commercial loans are available with practice financing?
What kinds of dental finance are there - including personal goodwill loans, practice financing, hire purchase, leasing, tax efficient borrowing solutions, credit lines and fixed rate equipment finance - from specialist lenders to give you peace of mind on loan products for any purpose.
How can Dental Finance benefit my dental practice?
How can they provide extra funds for you - without reducing funds available for your business?
Why you must find the right lender to cut costs
Is it important to use lenders that are authorised and regulated by the financial conduct authority for business loans?
The downsides of borrowing
What finance options are available for the dental industry for pieces of equipment - can I own equipment outright or is it or is it highly recommended to head down the route of leasing your equipment?
Do Asset Finance solutions incude dental equipment leasing?
What paperwork will you need?
Can terms be as long as 25 years for financing my practice premises?
Can I apply for finance to help with practice cash flow?
Guarantees and security
Is is better to use finance brokers when looking for practice finance?
Key Terms to check
An additional commitmentBorrowing may be a long-term commitment, with ongoing monthly repayments which will affect your cashflow.
You may need to repayIf you sell your business, you may need to repay your borrowing.
Borrowing may be a personal liabilityLending will be secured on your practice, but you may be personally responsible for repayment with some types of loan.
Our service is...
ImpartialTransparent and independent, treating all lenders equally, finding the best deals.
In-depthEvery type of finance for every type of business from the entire market - over 300 lenders.
In-personSpecialist Finance Experts support you every step of the way.
FreeWe make no charge of any kind when we help you find the loan you need.