Ownership and transitions
Practice start-up
The effort to open a new dental practice from nothing, which includes choosing a location, arranging financing and equipment, hiring staff and building a base of patients.
A practice start-up builds a new dental office from the ground up. The ADA says startups offer full control but require patience and capital. A founder makes every choice about location, equipment, staff and systems.
The ADA also advises that anyone who decides to build a new practice has lots of planning to do first, and its guide covers steps such as demographic analysis, location and financial projections. Many founders write a business plan and arrange a practice loan.
A start-up is the opposite of a practice acquisition, where the dentist buys an open practice. Local rules and lender terms differ, so founders should ask their own advisers. This entry defines the term only.