Synergy Dental have extensive experience in setting up squat dental practices. Our team manages the full mobilisation of a new Dental Practice. This means that you are able to step into a fully refurbished, well equipped, fully staffed and compliant practice. With the uncertainties surrounding the changes within dentistry, this is most certainly the best time to start a new private dental practice. We will become equal partners in the new dental practice and all the setting up fees, expenses, and profits will be equally shared.
For any dentist who is considering setting up a squat dental practice, these are the areas that we would cover:
Like any business, setting up a new dental practice will require a capital investment. This capital investment will be split equally between the partners. In some instances, new partners have already got finance available ready to invest. But in most cases, there needs to be some borrowing required by the incoming JV partner. We have established relationships with lenders and agents including FTA Finance to help support your financial needs.
Each one of our new or existing practices will benefit from a financial forecast which allows any lender to review the potential risk of the lending. Typically, for a new squat practice, each partner would invest £80,000 each to develop a 2 surgery fully established dental practice.
2. Choosing the right location
We would identify an optimised location for where a dental practice would be successful. We do this using a Feasibility and Mapping Exercise which includes a full needs assessment. We evaluate where current patients are enquiring from and monitor digital footprints of where patients are looking to become patients from. This data analysis allows our operation team to establish the best locations for our clinics. Each one of our locations where we have specifically targeted, has grown between 3-5 times within 3 years!
To find out more about existing locations that we have identified, please click here ‘Existing Opportunities’ (takes you to ‘existing opportunities’ page)
Alternatively, you may already have identified a general location from where you feel a new dental practice can be successful. We understand that many proactive associate dentists have identified a potential location for a new practice. If this is the case and you wish to partner with us, we will be able to support you and undertake a Feasibility and Mapping Exercise. Further, to give you peace of mind, we will protect your new found location with a restrictive covenant ensuring that we do not set up a new squat practice in the same location should you decide not to partner with us.
3. Securing premises
Once we have identified the location and our Feasibility and Mapping Exercise has given us the green light, the next step is to locate suitable premises. This could either be a freehold or leasehold. In the case of a leasehold, the Joint Venture Company will be the tenant. In the case of a freehold, the Joint Venture Company will be a tenant whilst there will be an option for you as a partner to also invest partly or wholly in the freehold. There are a number of factors we look at when procuring a new premise. This includes location, size, car park, ground floor, planning constraints etc. Our team has over a decade of experience in locating the most suitable premises.
We normally have several options to choose from in securing suitable premises, so at this stage, we will collectively decide on the best option. Our legal team will be securing the premises in readiness for the next stage once a pre-planning application has been approved. Any external legal representation required will be signposted. We have a panel of external legal teams for you to choose from including FTA Law.
We have already completed a feasibility and mapping exercise on many locations and have already identified and secured the most suitable premises ready for an incoming partner to come on board. To find out about all our locations, please click here: Existing Opportunities
4. Planning and Refurbishment
Once the most suitable premises has been identified and a pre-planning application has been approved, our operations team will get to work in:
- Designing the full practice
- Submitting the full planning application
- Developing the planning statement
- Appointing the Lead Designer
- Appointing the Lead Contractor
- Developing the full CDM
- Submitting the F10 Notification to the HSE
- Site Management
- Contract administration
- Procuring and installing new equipment and tools
- Full IT infrastructure installation
Working within a strict mobilisation timescale and a compliance framework, we have completed practice refurbishments many times. This means that as a new partner, you need not worry about this entire process. For new practices, there will be a shared cost for all the above.
However, we do have practices available that are fully ready for you to simply step in. Click here for more details: Existing Opportunities
As part of the full mobilisation plan, our Governance team will then implement all the necessary systems and policies, compliance checklists and registrations. This includes:
- CQC New Provider Application and Registered Manager Application
- HSE Notifications
- IRMER 2007 and IRR(2007) compliance
- HTM01-05 Compliance
- GDC standards
- Other H&S requirements.
We will then continue with the ongoing governance requirements. Please visit the Practice Support section for more details.
6. HR, Recruitment and Training
We understand that for many existing and new practice owners, this is probably the most difficult and stressful part of their role. Having a team of experienced HR and Training leads, we will take this responsibility off your shoulders. We will help recruit the full team to operate a successful dental practice. This includes Dental Nurses, Receptionist, Practice Manager, Treatment Coordinator and a therapist or associate if you have requested. Your time is best spent enjoying clinical dentistry. As such, it would not be productive for you to invest your time in recruitment. We have all the necessary resources to be able to equip our practice with the right team.
We also undertake the full training for all our staff. Our Clinical and Admin Trainers train and mentor new members of the team meaning that our new practice benefit from a well-trained and supported team. Our wider team also help and support the newly formed team both directly and indirectly through our SynTrain Academy. This ensures that the team are kept up to date and confident within their roles.
For yourself, we have structured Certification courses as well as a comprehensive mentorship programme to help develop you further. Our Clinical Mentors include:
- ADI Implant Mentors
- Restorative Consultant
- Oral Surgeons
- Experienced Invisalign mentors
- Experienced restorative dentists
For more information on our SynTrain Academy, please visit: SynTrain – Synergy Dental Group
Further, as a new practice owner, we will guide and mentor you to be able to lead your team through our structured Business Management Course. We will further support you through our network of more experienced partners as well as direct mentorship with our CEO, Dr Bagasi. With our open door culture, you will never be left alone.
We will then continue with the full HR, Recruitment and Training aspects of practice management once the practice has become mobilised – leaving you stress free.
7. Marketing and PR
Once the practice has been established with the team in place, we then ‘switch on’ our marketing and PR strategy. With a unique formulae using both digital and offline campaigns, on average, each one of our clinics register 200 new patients a month. This means you can simply step into the driving seat from day one. For more information on our marketing, you can visit the practice support section here: Practice Support – synergydentalpartnerships.com
With our mobilisation plan, we start the marketing and PR activity just in time for the launch of our new practice. This means we will have patients already registered prior to opening. We will have a flexible plan in place to allow you to work at the practice either Part Time or Full Time to ensure that your clinical time is most wisely utilised. We will jointly review this and adjust your working hours to suit you.
We will then continue with the full PR and Marketing aspects of practice management once the practice has become mobilised and absorb all the fixed costs related to marketing.