A dental office is a business just the same as the supermarket, grocery store or realtors' office. It relies on the money coming in from patients who pay for treatments to be able to provide the services required. So if patients stop coming in then the practice will fall into a deficit and be in big financial trouble. No building, be it commercial or residential, can last forever and all of them are in need of regular tender loving care in the form of renovations or refurbishment.
The money for these refurbishment projects have to come directly from the dental office bank account and so the money needs to be in there to begin with. This leads to a catch twenty two situation because an untidy and unkempt office is going to have a negative effect on patients and might make them go elsewhere. It's about finding a balance and considering economic factors to decide if it is the right time to renovate or not.
The money for these refurbishment projects have to come directly from the dental office bank account and so the money needs to be in there to begin with. This leads to a catch twenty two situation because an untidy and unkempt office is going to have a negative effect on patients and might make them go elsewhere. It's about finding a balance and considering economic factors to decide if it is the right time to renovate or not.
Commercial refurbishment is necessary to improve the appearance. A lot of companies consider renovating their business as a symbol of a new beginning. It also conveys growth and expansion of the company. Commercial refurbishments are marked as the perfect opportunity in creating a new workplace milieu that fits and reflects your company's customs.
Want Or Need?
It can be difficult no matter whether this is a residential or commercial refurbishment, to differentiate between a want and a need. Do you really need to renovate or do you just want to? Does your current business financial situation allow for you to start a refurbishment project just yet or would the business suffer if you did? These are all points that you need to consider and if the answer leans more towards a want than a need then perhaps it's time to reconsider and wait a while.
Price Increase
If your office is really in desperate need of refurbishment but you are worried that the finances won't cover it then it may be possible to increase your treatment prices just ever so slightly in order to cover any deficit you may incur. Regular patients will probably not be put out by this and if they value the treatment they receive from you then they should be willing to help out, especially if it means they can receive more improved treatment once the work has been completed. A renovated office may help to bring in new patients from elsewhere which will mean more money coming in to cover the expense and you will be able to advertise a "price drop" when you have finished which will likely bring in more customers.
Bank Loans
It may be possible, if there are no other options and refurbishment is desperately needed, for you to secure a bank loan to pay for it all. Now this is not without its risks because you have to consider the interest rates, other charges and monthly repayment rates. Bank loans should only be used as a last resort when all other options have been exhausted and postponing the refurbishment could severely damage the business reputation.
It can be difficult no matter whether this is a residential or commercial refurbishment, to differentiate between a want and a need. Do you really need to renovate or do you just want to? Does your current business financial situation allow for you to start a refurbishment project just yet or would the business suffer if you did? These are all points that you need to consider and if the answer leans more towards a want than a need then perhaps it's time to reconsider and wait a while.
Price Increase
If your office is really in desperate need of refurbishment but you are worried that the finances won't cover it then it may be possible to increase your treatment prices just ever so slightly in order to cover any deficit you may incur. Regular patients will probably not be put out by this and if they value the treatment they receive from you then they should be willing to help out, especially if it means they can receive more improved treatment once the work has been completed. A renovated office may help to bring in new patients from elsewhere which will mean more money coming in to cover the expense and you will be able to advertise a "price drop" when you have finished which will likely bring in more customers.
Bank Loans
It may be possible, if there are no other options and refurbishment is desperately needed, for you to secure a bank loan to pay for it all. Now this is not without its risks because you have to consider the interest rates, other charges and monthly repayment rates. Bank loans should only be used as a last resort when all other options have been exhausted and postponing the refurbishment could severely damage the business reputation.
Obtain a term loan for your small business with quarterly or monthly payments. These typically last up to two years. Apply for a line of credit that you pay back any time during the set period and draw upon as needed. Banks look closely into your ability to pay and the reason for the loan.
Whichever route you choose to take for financing your renovation you should keep in mind that the economy is constantly changing and you will need to adapt to this. You may want to consult the advice of any of the many commercial refurbishment specialist companies, such as this firm that you can consider when you click here.