A teeth whitening clinic is a business that primarily provides elective dental services that improve the appearance of teeth and gums. Some teeth whitening clinics go as far as offering services that include cosmetic crown and bridgework, veneers, inlays and outlays, and direct bonding which is not generally covered by insurance, making them highly discretionary.
Available data from the United States shows that the value of the global teeth whitening market amounted to about 6.14 billion U.S. dollars in 2020, and is forecasted to grow to 8.21 billion U.S. dollars by 2026. In 2020, North America dominated the global teeth whitening market, accounting for around 32% share in terms of revenue.
Steps on How to Write a Teeth Whitening Business Plan
Table of Content
Big Smile® Teeth Whitening Clinic, Inc. is a licensed teeth whitening clinic that will be based in Lake Havasu City, Arizona. The organization will be committed to serving those who need professional teeth whitening services. We are going to be health-conscious and customer-centric with a service culture that will be deeply rooted in the fabric of our organizational structure.
Dr. Victor McDonnald is the founder and CEO of Big Smile® Teeth Whitening Clinic, Inc.
a. Our Products and Services
Big Smile® Teeth Whitening Clinic, Inc. will provide elective dental services that improve the appearance of teeth and gums. We will also provide related services that include cosmetic crown and bridgework, veneers, inlays and outlays, direct bonding, and retailing cosmetic dental merchandise.
b. Nature of the Business
Our teeth whitening clinic will operate the B2C – Business to consumer business model. We will offer our services directly to the end-user without any middleman arrangement.
c. The Industry
Big Smile® Teeth Whitening Clinic, Inc. will operate under the cosmetics dental services industry.
d. Mission Statement
Our mission is to provide safe and healthy teeth whitening procedures geared towards helping our clients achieve long-lasting whitening of their teeth and the overall well-being of their dental concerns.
e. Vision Statement
Our vision of establishing our teeth whitening is to become the pacesetter in every city where we are located.
f. Our Tagline (Slogan)
Big Smile® Teeth Whitening Clinic, Inc. – Whiter Teeth, Reinvigorated Dental Outlook!
g. Legal Structure of the Business (LLC, C Corp, S Corp, LLP)
Big Smile® Teeth Whitening Clinic, Inc. will be formed as a Limited Liability Company, LLC.
h. Our Organizational Structure
- Chief Operating Officer (President)
- Clinic Manager
- Experienced Dentist
- Nurse Practitioner “Experienced Cosmetic Dental Practitioner”
- Customer Service Officer (Receptionist)
i. Ownership/Shareholder Structure and Board Members
- Victor McDonald (Owner and Chairman/Chief Executive Officer) 51 Percent Shares
- Lewis Made (Board Member) 19 Percent Shares
- Sydney Lance (Board Member) 10 Percent Shares
- Moses Simone (Board Member) 10 Percent Shares
- Frances Brown (Board Member and Sectary) 10 Percent Shares.
- Ideal Location for teeth whitening clinic
- Highly experienced and qualified employees and management
- Access to supplies
- Highly secured and clean clinic facility
- Inability to initially run and manage the organization without falling back to savings
- Financial Limitations
- Operating from a leased facility (restriction to fully modify the facility to suit our style and taste)
- Inability to retain our highly experienced and qualified employees longer than we want
- Growing acceptance of teeth whitening procedures and services
- Build upon existing clientele
- Online market, new services, new technology, and of course the opening of new markets.
i. How Big is the Industry?
The Cosmetic Dentists industry is a growing industry. The cosmetic dentist’s industry reached a market size of 6.14 billion U.S. dollars in 2020. Within this industry, there were approximately 27,098 employees and a total of over 5,109 businesses.
ii. Is the Industry Growing or Declining?
Available statistics point to the fact that the industry is presently not growing and revenue for the industry has been adjusted from an increase to a decline. The COVID-19 (coronavirus) pandemic has limited the Cosmetic Dentists industry’s ability to perform teeth whitening procedures due to the risk of spreading the virus.
In 2022, the revenue for the industry is anticipated to decline slightly, but as the economy recovers and coronavirus cases subsequently drop in line with the nationwide vaccination rollout, industry revenue will likely increase.
iii. What are the Future Trends in the Industry
The Cosmetic Dentists industry is changing, and players in the industry are improvising. No doubt, technology, and customized software will change the landscape of the Cosmetic Dentists industry going forward.
iv. Are There Existing Niches in the Industry?
No, there are no niche ideas when it comes to teeth whitening line of business. This is because the teeth whitening business is a niche idea in the Cosmetic Dentists industry.
v. Can You Sell a Franchise of your Business in the Future?
Big Smile® Teeth Whitening Clinic, Inc. has plans to sell franchises in the nearest future and we will target major cities with upwardly mobile people who are more concerned with the state of their teeth and overall dental health.
- The spread of coronavirus and similar pandemic
- Teeth whitening services have become a fixture of the health and wellness industry. Entrepreneurs, salon owners, and mall kiosk operators have found success in offering basic teeth-whitening kits and services
- Loans diminish profitability until they are paid off
- The first year will be financially tight while we gain customers and pay off loans
- Management of employees requires time, money, and efforts
- The medical and health department could change their regulatory status and decide to enforce strict regulations that can strangulate a new business
- The arrival of competitors within our market space.
i. Who are the Major Competitors?
- 20 Minute Smile Laboratories LLC.
- EWHITE LLC
- Brighter Smiles
- The Whitening Store
- For Your Smiles Only, LLC
- Beaming White
- Smile Perfected
- Red Carpet Smiles
- Nutrix USA
- WSD LABS USA
- Fair Bear Enterprises, LLC
- Lightning White
- Cicada Technology INC
- CT WHITE SMILE LLC
- Dental Designs Of Roseville.
ii. Is There a Franchise for Teeth Whitening Business?
Yes, there are franchise opportunities for teeth whitening, and here are some of them;
- Whitening on Wheels: $59-$3,729
- SPAVIA: $353,251 – $700,820
- Liptak IT: $60,700 to $73,400
- ATC: $134,970 – $262,170.
iii. Are There Policies, Regulations, or Zoning Laws Affecting Teeth Whitening Business?
Yes, there are county and state regulations for teeth whitening and it is important to state that each state has its requirements as there are different laws and costs per state, it’s important to do your research into local regulations and zoning policies.
For example, even though Illinois didn’t jump on board with the teeth-whitening prohibitions enacted in other states, it did make one interesting change to state law. Illinois is one of the few states that allow teeth-whitening entrepreneurs to offer their services without the aid of a licensed dentist.
This is because Illinois law does not categorize teeth whitening procedures as “practicing dentistry.” According to Section 8 of the Illinois Dental Practice Act, it is legal for anyone to apply or sell teeth whitening materials as long as the person first “discloses to the consumer that he or she is not licensed as a dentist” and
(i) discusses the use of teeth whitening materials with a consumer purchasing these materials;
(ii) provides instruction on the use of teeth whitening materials with a consumer purchasing these materials; or
(iii) provides appropriate equipment on-site to the consumer for the consumer to self-apply teeth whitening materials” (225 ILCS 25/8(11)).
a. Who is Your Target Audience?
i. Age Range
Our target market comprises adults above 18 years who have the finance to patronize our teeth whitening clinic.
ii. Level of Educational
We don’t have any restriction on the level of education of those who we are ready to welcome to our teeth whitening clinic.
iii. Income Level
We don’t have any cap on the income level of those we are looking to welcome to our teeth whitening clinic.
There is no restriction when it comes to the ethnicity of the people we are looking to welcome to our teeth whitening clinic.
There is no restriction when it comes to the language spoken by the people we are looking to welcome to our teeth whitening clinic.
vi. Geographical Location
Anybody from any geographical location will be welcomed in our teeth whitening clinic.
Big Smile® Teeth Whitening Clinic, Inc. will not restrict any person from accessing our teeth whitening clinic and services based on their lifestyle, culture, or race.
b. Advertising and Promotion Strategies
- Host Themed Events That Catch the Attention of Potential Clients.
- Tap Into Text Marketing.
- Use FOMO to Run Photo Promotions.
- Share Your Events in Local Groups and Pages.
- Turn Your Social Media Channels into a Resource
- Develop Your Business Directory Profiles
- Build Relationships with other healthcare service providers and related organizations in our Area
i. Traditional Marketing Strategies
- Marketing through Direct Mail.
- Print Media Marketing – Newspapers & Magazines.
- Broadcast Marketing -Television & Radio Channels.
- OOH, Marketing – Public Transits like Buses and Trains, Billboards, Street shows, and Cabs.
- Leverage direct sales, direct mail (postcards, brochures, letters, fliers), print advertising (magazines, newspapers, coupon books, billboards), referral (also known as word-of-mouth marketing), radio, and television.
ii. Digital Marketing Strategies
- Social Media Marketing Platforms.
- Influencer Marketing.
- Email Marketing.
- Content Marketing.
- Search Engine Optimization (SEO) Marketing.
- Affiliate Marketing
- Mobile Marketing.
iii. Social Media Marketing Plan
- Start using chatbots.
- Create a personalized experience for each of our clients.
- Create an efficient content marketing strategy.
- Create a community for our freelance marketers and influencers.
- Gear up our profiles with a diverse content strategy.
- Use brand advocates.
- Create profiles on the relevant social media channels.
- Run cross-channel campaigns.
c. Pricing Strategy
When working out our pricing strategy, Big Smile® Teeth Whitening Clinic, Inc. will make sure it covers time, service delivery, supplies, premium, economy or value, and full teeth whitening and dental care package for each of our clients. In all our pricing strategy will reflect;
- Cost-Based Pricing
- Value-Based Pricing
- Competition-Based Pricing.
Sales and Distribution Plan
a. Sales Channels
Our channel sales strategy will involve using partners and third parties—such as referral partners, affiliate partners, hospitals, freelance marketers, and social media influencers to help refer clients to us.
Big Smile® Teeth Whitening Clinic, Inc. will also leverage the 4 Ps of marketing which are place, price, product, and promotion. By carefully integrating all these marketing strategies into a marketing mix, we can have a visible, in-demand service that is competitively priced and promoted to our patients and donors.
b. Inventory Strategy
The fact that we will need teeth whitening supplies and medications per time means that Big Smile® Teeth Whitening Clinic, Inc. will operate an inventory strategy that is based on a day-to-day methodology for ordering, maintaining, and processing items in our warehouse. We will develop our strategy with the same thoroughness and attention to detail as we would if we were creating an overall strategy for the business.
c. Payment Options for Customers
Here are the payment options that Big Smile® Teeth Whitening Clinic, Inc. will make available to her customers;
- Payment via bank transfer
- Payment with cash
- Payment via credit cards
- Payment via online bank transfer
- Payment via check
- Payment via mobile money transfer
d. Return Policy, Incentives, and Guarantees
At Big Smile® Teeth Whitening Clinic, Inc., we offer services, and the nature of services we offer does not accommodate return policy but we will make sure we give out incentives from time to time to our customers.
e. Customer Support Strategy
Our customer support strategy will involve seeking customer feedback. This will help us provide excellent customer service to all our clients, it will help us to first understand their needs, experiences, and pain points. Regularly, we will work towards strengthening our Customer Service Team and also Leverage Multi-Channel Servicing as part of our customer support strategy.
We plan to expand our revenue by 35 percent in the second year and the plan will include a marketing, sales, and operations component. The operations component of the plan would include attracting partnerships and referrals that will enable the firm to boost our service offerings and support revenue growth.
a. What Happens During a Typical Day at a Teeth whitening clinic?
- The business is open for the day’s work
- The beds and equipment are cleaned, adjusted, and set for the day’s job
- Customers are attended to
- Scheduled maintenance and servicing of dental equipment and tools are carried out
- Marketing/website upkeep
- Administrative duties
- The business is closed for the day.
b. Production Process
There is no production process when it comes to the teeth whitening business.
c. Service Procedure
At Big Smile® Teeth Whitening Clinic, Inc., our service procedure will involve bleaching teeth to make them lighter. The procedure is completed in a dental office. It involves placing a concentrated whitening gel on the teeth and then using a laser to heat. Our teeth whitening system erases stains caused by wine, tea, dark foods, tobacco, age, and even tetracycline medications.
d. The Supply Chain
Big Smile® Teeth Whitening Clinic, Inc. will establish business relationships with wholesale supplies of teeth whitening supplies and medications.
e. Sources of Income
Big Smile® Teeth Whitening Clinic, Inc. make money from;
- Teeth bleaching or whitening
- Direct bonding
- Inlays and Onlays
- Retailing dental-related merchandise
a. Amount Needed to Start Our Teeth whitening clinic?
Big Smile® Teeth Whitening Clinic, Inc. would need an estimate of $585,500 to successfully set up our teeth whitening clinic in the United States of America. Please note that this amount includes the salaries of all staff for the first month of operation.
b. What are the Cost Involved?
- Business Registration Fees – $750.
- Legal expenses for obtaining licenses and permits – $7,300.
- Marketing, Branding and Promotions – $5,000.
- Business Consultant Fee – $2,500.
- Insurance – $5,400.
- Rent/Lease – $200,000.
- Other start-up expenses include commercial satellite TV subscriptions, stationery ($500), and phone and utility deposits ($2,800).
- Operational Cost (salaries of employees, payments of bills et al) – $100,000
- Start-up inventory – $15,000
- Store Equipment (cash register, security, ventilation, signage) – $4,750
- Furnishing and Equipping – $120,000
- Website: $600
- Opening party: $3,000
- Miscellaneous: $2,000
c. Do You Need to Build a Facility? If YES, How Much Will It Cost?
Big Smile® Teeth Whitening Clinic, Inc. will not build a new facility for our teeth whitening clinic; we intend to start with a long-term lease and after 5 years, we will start the process of acquiring our own facility.
d. What are the Ongoing Expenses for Running a Teeth whitening?
- Cost of stocking up supplies
- Utility bills (gas, internet, phone bills, signage and sewage et al)
- Maintenance and repair of equipment
- Salaries of employees
e. What is the Average Salary of your Staff?
- Chief Operating Officer (President) – $68,000 Per Year
- Clinic Manager – $48,000 Per Year
- Dentist – $47,000 Per Year
- Nurse Practitioner – $47,000 Per Year
- Accountant – $38,000 Per Year
- Customer Service Officer (Receptionist) – $26,100 Per Year
f. How Do You Get Funding to Start a Teeth Whitening Clinic?
- Raising money from personal savings and sale of personal stocks and properties
- Applying for a loan from your bank/banks
- Pitching our business idea and applying for business grants and seed funding from, the government, donor organizations, and angel investors
- Source for soft loans from our family members and our friends.
a. How Much Should You Charge for your Product/Service?
At Big Smile® Teeth Whitening Clinic, Inc. our in-office teeth whitening costs $300–$1,800, while a take-home kit prescribed by dental professionals costs from $200–$400 on average.
b. Sales Forecast?
- First Fiscal Year (FY1): $550,000
- Second Fiscal Year (FY2): $950,000
- Third Fiscal Year (FY3): $1.5 million
c. Estimated Profit You Will Make a Year?
- First Fiscal Year (FY1): $175,000 (50% of revenue generated)
- Second Fiscal Year (FY2): $337,000 (45% of revenue generated)
- Third Fiscal Year (FY3): $540,000 (45% of revenue generated)
d. Profit Margin of a Teeth Whitening Clinic Product/Service
The ideal profit margin we hope to make at Big Smile® Teeth Whitening Clinic, Inc. will be between 35 and 50 percent on service charges.
a. How do you intend to grow and expand?
Big Smile® Teeth Whitening Clinic, Inc. will grow our teeth whitening clinic by first opening other facilities in key cities in the United States of America within the first five years of establishing the organization and then will start selling franchises from the sixth year.
b. Where do you intend to expand to and why? (Geographical Locations)
Big Smile® Teeth Whitening Clinic, Inc. plans to expand to Sumter, South Carolina, Tinton Falls, New Jersey, Santa Fe, California, Stillwater, Oklahoma, Longboat Key, Florida, Wintergreen, Virginia, Charleston, West Virginia, Palm Beach Gardens, Florida and Portland, Oregon.
The reason we intend to expand to these locations is the fact that, for example, Portland has the highest number per capita in the U.S. — one for every 11,286 residents, and they are known to patronize teeth whitening services.
The founder of Big Smile® Teeth Whitening Clinic, Inc. intends to build a family business hence our exit plan will be family succession. For that reason, the founder Dr. Victor McDonnald is already grooming his daughter Dr. Ruth McDannold to take over from him. Dr. Ruth McDannold is at the moment being groomed to go through the company’s employment process without any bias.