We think it’s fair to say that very few people grow up with the dream of becoming a dentist. If you want proof of this, just have a browse of child fancy dress costumes. Child fancy dress costumes are a good indication of what children idealize and what they want to be. They’re who they get inspiration from which is why lately, unsurprisingly most costumes are to do with superheroes. But every so often you’ll see career costumes slotted in. Baby doctors, nurses, fire fighters, and police officers are all available for purchase. Correct us if we’re wrong, we don’t think anyone ever thought about making a dentist’s costume for kids.
One of the reasons for this might be because dentistry is actually classified as a part of the medical industry. It’s not an entirely separate business, as most people assume. If you want to become a doctor, you need to cover dentistry. The difference is that when dentists reach a certain point in their medical career they siphon off into this specialty.
Most people assume dentists are doctors that couldn’t make it or cut it. These are the ones that just wouldn’t be able to handle neurosurgery or curing cancer. But actually, maybe people who study to choose dentistry are just far more business minded. Believe it or not, if you’re looking to make money, a doctor shouldn’t be your career choice. Doctors who get rich are few and far between. Rich doctors are the exception rather than the rule. The exact opposite is true when you look at people who have made a name for themselves in the dental industry. Most dentists do make quite a lot of money and sometimes it can even be quite controversial. Just a few years ago papers in the UK ran a story about how dentists were making half a million each. So if you’re in it for the money rather than the glory, you might want to consider dentistry. This isn’t the only reason why we think setting up a dental business or practice is an inspired choice.
Who Need Long Hours? Not Dentists!
It’s natural to compare the dental business to the rest of the medical industry. Both doctors and dentists do it all the time and like it or not they are connected. We also think that most people thinking about being dentist are choosing between this and a doctor. So, let’s think about why being a dentist could be far more beneficial. We can start by considering the number of hours that they work. As a dentist, you’re probably going to be working nine to five, and that’s it. You won’t be called in on your day off to handle an emergency procedure. You won’t be working late because your surgery is overflowing with patients. In fact, most days you’ll probably get home early.
As a doctor, you’re never off duty. For your first couple of years, you could be working nearly forty hours at a time with a few sleep breaks. This isn’t meant to happen, but it definitely does. You also won’t even be free on your day off. You could be paged at any time and be required to come in. As you get higher up, you can avoid pages. But you have to deal with the guilt that if you don’t show up someone could die.
No one’s going to die in the chair at a dentists and if they do it will probably be due to natural causes.
You can’t start from the bottom as a doctor, there’s a set path that you’ll have to follow. You will need to head to uni after getting great grades in school. Once you have done this, you will then need to move on to med school. After that, you can then start your internship or work as a junior doctor. A few years later and you’ll finally be operating on patients and working as a professional healer.
Things are a little different in the dental industry. It’s easy to gain experience at the bottom level as a dental nurse. To do this, you only need basic qualifications. You can then be involved in dental procedures and learn by watching a pro. There are always plenty dental nurse vacancies that need to be filled. After spending a few years in this position, you’ll be able to develop the knowledge and experience that you need to move forward. At that point, you can take on further training and work to become a fully qualified dentist. We know what you’re thinking, I don’t want to just work in this industry I want to run a business! Fear not because that’s easier in the dental industry too.
Setting Up A Business
We say business, but we mean a dental surgery, and we promise, they are pretty much interchangeable. You’ll be running it, you’ll be making money and better still it will be incredibly profitable. The equivalent would be a private medical practice, and that’s a lot harder to setup.
To set up a medical practice you will need to gain a huge amount of investment. Or, you’ll need to borrow the money, and you can expect the cost to range somewhere around a few million. Obviously, most people don’t have that type of cash lying around. You’ll have to wait until you have been working in the medical industry for some time to get that type of money. Once you’ve got it though you can open up your own practice. But be aware it’s risky, and financially, it can be a money pit. You’ll have to pay for staff, equipment, maintenance while keeping it well organized and efficient. It’s a massive commitment and a huge responsibility.
You might have guessed by now that we think the grass is always greener for dentists. That proves true in this situation as well. If you want to set up a dental business, you’re going to require less money. If you rent your property, we think it’s possible with only a few hundred thousand. One of the main reasons for this is that you don’t need as many staff or as much equipment for dentistry.
It’s also worth pointing out that a dentist is always in high demand. Medical practices aren’t because there are free clinics and other options for people who can’t afford it. Therefore, when you open a dental business, you’ll be able to fish in a far larger pool of demand.
It Is A Challenge?
You bet it is and don’t let anyone tell you otherwise. Running a dental practice isn’t easy, and it will require a lot of hard work. You might even want to think about setting it up as a joint effort with a partner. Ideally, with someone who has a lot of experience in the dental industry. Don’t forget, this needs to be run like any other business. You’ll need supplies, customers and most importantly of all, marketing! There are actually marketing agencies set up with the specific purpose of providing promotion for dentists. You’re going to need to invest in the services of one of these agencies. It’s absolutely vital if you’re going to see a high number of clients walking through your door. But again, there’s always going to be a demand. Dental work isn’t a luxury service. More often than not, it’s a necessity.
Of course, you can increase your profits by diversifying what you offer from your business. So, you can offer teeth whitening, orthodontics and hygiene work. All these service can earn you extra, and this is really just smart business sense. If you want to make more money, you need to make sure you’re providing customers with the full range of services.
Just How Much Money Are We Talking About?
As a private dentist it is possible to earn close to one million each year. As a private dentist who owns their business, you’re probably looking at a multi-million annual paycheck. That’s even after you’ve taken into account all the costs and outputs that will be involved in running your company. Of course, to reach this level you do need to think of your surgery just like a business. Never lose focus of the fact that’s exactly what you have here. It’s not like owning a hospital. You’re providing a service to pay customers with the pure intention of making a profit.
It’s not just about the money, though. Doctors often claim that they save lives, and that might be true, but dentists do as well. It’s more likely that a dentist will catch the signs of oral cancer than a doctor for obvious reasons. As well as this, dentists make people smile and therefore make the world a brighter, happier place. We bet you never thought you’d read that about a field associated with pain.
So what do you say? Have we inspired you to start your own business in the dental industry? We certainly hope so because it could be one of the few startups that actually pay off.