Business Plan

DENTAL
PRACTICE
Components of a
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“Components of a Business Plan”
By: Staff
I. Introduction and Statement of Business Concept
a. General statement of purpose and objectives
b. Historical background
i. Date of organization
ii. Present legal structure (solo, partnership, corporation)
iii. Major changes in business purpose, objectives, or strategies
c. Brief description of the market
d. Brief description of product(s)/service(s)
II. External Environment and Industry Analysis
a. Size and nature of the market
i. Description of total market
ii. Industry trends
iii. Target market
iv. Competition
v. Factors influencing demand

  1. Income of target population
  2. Seasonal and cyclical influences
  3. Price and customer sensitivity to price change
  4. Influence of advertising
  5. Customer profile
    b. Relationship with other professional practices
    c. Laws pertaining to the practice of dentistry
    d. Competition
    i. Nature of direct competition
    ii. Indirect competition
    iii. Nature of competitive practices (price, quality, advertising, services, and
    other competitive forces)
  6. Number and size of practices
  7. Location of practices in relationship to the proposed
    iv. Nature of cooperative influences (other dental offices which offer
    encouragement)
    III. Product(s)/Service(s) Offered and to be Offered
    a. Detailed description of the product(s)/service(s)
    b. Assessment of the competitive advantages and disadvantages
    i. Technological position
    ii. Services offered
    iii. Location
    iv. Cost and pricing policy
    v. Payment policy
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    IV. Growth Strategy
    a. Approach to entry in proposed market area
    b. Approach to growth and maintenance of market share
    c. Five year revenue forecast
    V. Marketing
    a. Geographical coverage of market area
    b. Marketing plan
    i. Internal marketing plan
    ii. External marketing plan
    c. Estimate costs
    VI. Operations
    a. Location
    b. Required facilities
    c. Required equipment
    d. Inventory and inventory controls
    e. Organization and personnel
    i. Type, expertise, and availability of personnel
    ii. Compensation
    VII. Management
    a. Form of business
    b. Ownership breakdown
    c. Organizational chart
    d. Resumes of key personnel
    e. Staffing plan
    f. Facilities plan/planned capital improvements
    g. Operating plan
    h. Copies of licenses, certifications, insurance coverage (for all staff, if already
    chosen)
    VIII. Financial Analysis
    a. Summary of company’s financial position
    i. Prior capital contributions
    ii. Major current stockholders
    iii. Current debt, lenders and terms
    iv. Use of prior capital
    b. Historical and pro forma (three to five years) income and balance
    sheets
    c. Historical and pro forma (three to five years) cash flow
    d. Required investment
    e. Return on investment
    f. Financial comparison with similar firms
    g. Schedule of disbursements
    h. Performance mileposts
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    IX. Risk Analysis
    a. Statement of major areas of risk
    b.Quantitative risk analysis
    i.Break-even point
    1.Fixed costs
    2.Variable costs
    3.Semivariable costs
    ii.Payback period
    iii.Probabilistic forecast
    c.Disaster plan
    X.Plan Update
    a.How, When and Who
    Disclaimer It is the intent of this publication to offer dentists some tips on the components of a business plan.
    The information provided here is for reference use only and does not constitute the rendering of legal, financial,
    or other professional advice or recommendation by the American Dental Association. Reference to an
    organization or the listing of a website link does not constitute an endorsement of that organization, its affiliates
    or products.
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