02 Aug 5 Ways to Use a Loan for your Dental Practice
Do you want to guarantee or safeguard the future of your dental practice? Starting a dental practice is challenging! Unfortunately, it’s not the end of the road – you must keep your dental practice running and poised for growth. As a dental practice business owner, it is crucial to continually assess and improve your existing strategies to survive in the competitive business landscape, especially in the dental business industry.
Dental professionals are expected to provide the best services to a demanding consumer base. But there is one obvious limitation: You need funds to finance and grow your dental practice. Luckily, firms such as Ameritech & Associates offer numerous financing options that are available to dental professionals such as the SBA 7 (a) loan, Non-Bank Term Loans, and Business Line of Credit among others. These dental practice funding options can empower you to take your dental practice to the next level. But how exactly do you go about strategically using your new-found dental practice funds to boost your dental business? Consider the 5 tips below:
Digital Marketing – Get the Word Out!
Never neglect marketing efforts for your dental practice! It does not matter whether you are already attracting frequent customers or making consistent sales, marketing is key to advancing your dental practice. But don’t be confined to traditional marketing strategies, such as print media or broadcast when marketing your dental practice. Instead leverage the power of the internet.
Why do we strongly suggest digital marketing for your dental practice? Well, market studies indicate that 8 in every 10 American consumers rely on the internet to guide their purchasing decisions, which also applies to their choice of dentists. Additionally, it is approximated that there are over 3.5 billion searches on Google daily. Digital marketing is cheaper, faster, and more effective than traditional marketing for your dental practice. So why not invest your funds in the right direction by enforcing a digital marketing strategy? How do you go about digital marketing for your dental practice?
- Play the lone wolf by running your own dental marketing campaigns on Google or social media.
- Outsource by seeking the services of a digital marketing agency
- Hire an in-house marketer to launch and coordinate all your dental digital marketing efforts
Expert Tip: Whichever strategy you choose, it is important to monitor its progress and keep tabs on emerging trends in the market. The more maneuverable you are, the more your dental practice will reap the benefits.
2) New Technology
Regardless of the industry, there is a high chance that there is a technological advancement that can improve a business task, including for dental practices. We live in a technological world characterized by new inventions and upgrades. Incorporating new technology into your dental practice can significantly boost your growth efforts. Below are a few examples of new technologies that might improve your dental service delivery:
- Mobile Apps and Business Website: Did you know that adults in the U.S spend nearly 4 hours on a mobile device daily? Investing your dental loan from Ameritech & Associates to develop a user-friendly mobile application or website can streamline your dental services (appointments, bills, etc.) and even attract new dental clients.
- Computing upgrades: This includes upgrading your existing computer system or purchasing tablets to digitize processes, streamlining your dental practice even more.
3) Dental Equipment and Other Fixed Assets
According to a famous quote, you are only as good as your tools. In the case of a dental professional, do you have the latest dental equipment? A dental practice loan from Ameritech & Associates could help you acquire some of the costly dental equipment to improve service delivery. You might also consider updating your dental business assets or renovating your dental office. Besides, you can even impress your dental clients with a state-of-the-art dental office.
4) Dental Staffing – Expand Your Workforce
Have your dental clients increased? Have you noticed a decline in the standards of dental service delivery? If so, it might be an indication that you need to hire more employees for your dental practice. Most of the clients in a dental office take time off their busy schedules to meet their appointments. Therefore, it is only fair that you provide efficient dental services to ensure their needs are met appropriately. How is this accomplished? By hiring additional personnel to meet the increasing consumer needs in your dental practice.
Taking out a relevant dental business loan could help you in your staffing efforts, and improve the speed and efficiency of your dental services. But staffing is not just about the number of employees. You should invest your dental loan in building a competent and capable team of professionals.
5) Do you Have Dental Practice Expansion Plans?
Securing a dental loan with Ameritech & Associates could help you prepare your dental practice for the future. How you go about expanding your dental business depends on your goals and prevailing circumstances. You might choose to acquire another dental practice or simply create a larger practice. Regardless of your choice, you’ll need to partner with a reliable firm, such as Ameritech & Associates, in order to meet the additional costs that accompany a dental practice expansion.
THE AMERITECH & ASSOCIATES DIFFERENCE
Securing a dental loan can create new opportunities for your practice. Ameritech & Associates is the best dental financing company, offering a variety of dental practice financing solutions for your needs. Our dental financing application process is simple and lightning quick, having you on your way to your next big thing in your dental practice. By using the information provided in this article as a stepping stone to investing your dental loan, you can improve your dental practice. It’s now up to you to steer the future of your dental practice.
– Daniel Desta
– CEO of Ameritech & Associates