Evaluate Your Location
Choosing a location is one of the most critical business decisions you will make as a dentist. The difference between a good and a great location can result in tens or hundreds of thousands of dollars in your pocket every year. This is one area where it does not pay to take shortcuts.
Once you have already chosen a location how do you know how good it is? How can you do it quickly and at an affordable price? The answer is: The Dental Market Intelligence (DMI) Report. Learn more about DMI
What is Dental Market Intelligence Report?
The Dental Market Intelligence Report (DMI) is the most complete, insightful and informative analysis available on the market for a specific location. It is designed to help dentists evaluate the attractiveness of a particular location.
Some of the information this report would provide includes:
- How many dentists are there in your region
- How successful are these dentists
- How long have these dentists been in practice
- How well do these dentists serve patients’ existing and future needs
- The type of dental services that are lacking the most
- The number of existing/potential patients
- How is this number growing and will grow in the future
- Their disposable income they can spend on dentistry and how this might change in the future
- Patients’ ages
- Patients’ ethnic background and language
- Availability of insurance
- Where the people work and how safe are their jobs
- Future residential/commercial developments
- Safety of the community
- Prices for setting up a dental practice
- Sociological factors – the willingness of the patients to change dentists
We can drill the information as deep as within a 1km radius and compare among several sites. All criteria is compared with the provincial average so that you can get a better perspective on what the numbers mean.
Benefits to the Dentist
- Success Rate – By picking a great location you have increased your chances for success and the long-term value of the dental practice.
- Speed – Because we can do this research you can open the practice sooner.
- Cost – The cost is minimal compared to the time and costs you would spend to gather and analyze the information yourself.
- Confidence – You have more confidence that you have made the right decision.
- More informed Decision Making – Whether selling or buying the practice, the information contained in the DMI will allow you to better understand the characteristics of the population, the competition, and assess its’ future potential and the value of the practice.
- Make a Better Case to the Bank – When you approach the bank for a loan, the banks will want to know that you have done some market research before choosing your location. With the MDI you increase your chances of getting a better and faster loan.
How is this Different from other Analyses on the Market?
- Specific to Dentists – The MDI collects and analyzes only the information that is relevant to a dentist’s success.
- Ease of Use – Thousands pieces of data and information are funneled through to a concise, easy-to-use report.
- Most Complete – MDI is based on primary and secondary research. It contains market and competitive information.
- Specific Geographic Coverage – Dentists need information that is specific to the neighbourhood or community they want to practice in. We can run a report for any area as small as within a 1 km radius from your chosen location.
Learn more about DMI
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