Executive Summary
Khan Smiles is a cosmetic dentistry practice owned by Pravesh Khan. The practice offers cosmetic dentistry to the residents of Nashville and surrounding areas. We also do general dentistry, but only if it is a prerequisite to a cosmetic procedure.
Pravesh has over ten years of experience in dentistry and has been managing Khan Smiles successfully for three years. Buying and remodeling an existing practice has been pivotal to our immediate success.
Our objectives for the business are:
- To further expand the practice’s existing client base by 10% through referrals and positive reviews of our service
- We aim to create a space where people can come to revise any dental work that they are unhappy with. Botched work is becoming more popular, and people struggle to find reputable dentists who can save their teeth. We will be that place.
Khan Smiles’ mission is to advocate for informed care. Too many people undergo cosmetic dentistry procedures that are not suitable for them. We also enforce a cooling period on all procedures, which means patients have to wait for a stipulated period before undergoing a procedure. This prevents cases of regret and avoids unnecessary revisions or irreparable work.
In the three years of Khan Smiles’ operation, we have established a culture of accountability in Nashville’s dentistry community. Our educational marketing and client-first approach have reduced the number of recklessly performed procedures. We pride ourselves on this and aim to continuously positively influence the industry.
Khan Smiles is seeking $150,000 in start-up or growth capital to fund operations, marketing, and staffing in the first 12 months.
Financial highlights:
| Metric | Year 1 | Year 2 | Year 3 |
|---|---|---|---|
| Revenue | $420,000 | $620,000 | $860,000 |
| Gross margin | 62% | 62% | 62% |
| Net profit / (loss) | $15,000 | $51,200 | $95,800 |
Company Overview
Khan Smiles is a cosmetic dental practice in Nashville, Oregon. Our services include teeth whitening, dental implants, and veneers.
Khan Smiles is owned by Pravesh Khan and is a limited liability corporation. We have operated in the North Nashville area for three years now.
Pravesh had a partnership with a combined dentistry office in Portland. The office was split between general and cosmetic dentistry. However, the cosmetic department needed to be in demand more to stay open.
Nashville had a cosmetic dentistry practice that was being sold because of retirement. Pravesh put in a bid, and the rest is history.
Cosmetic dentistry used to be inaccessible, but all cosmetic procedures are becoming more popular. With that, the quality of treatment has diminished to an extent. Our mission is to deliver services that consider our clients’ oral health and aesthetic wishes to ensure that they have long-lasting results.
Buying an existing practice cut our costs significantly. We are currently maintaining the equipment that came with the practice, which allows us more financial freedom.
Our objective is to maintain the practice's customer list and add to it by acquiring 15% more customers.
Market and Customer Analysis Market and customer analysis are the secrets to predicting where your success will come from. Market analysis leaves you informed about what is happening in your industry. This information is vital when planning business operations.
Customer analysis allows you to understand your customers fully. Understanding someone means you can anticipate and meet their needs the best, which is all any customer has ever asked for.
Combine these two things, and you have a trendsetting business with loyal customers - amazing, right?
Legal structure: Professional Corporation (PC)
Mission: To deliver exceptional cosmetic dental practice services to clients in Nashville, Tennessee, USA, building long-term relationships through quality, reliability, and deep expertise.
Objectives:
- Year 1: Establish operations, reach initial revenue target of $420,000, and build a loyal client base
- Year 2: Expand service capacity, grow revenue to $620,000, and hire additional staff
- Year 3: Achieve operational profitability, strengthen market position, and evaluate expansion opportunities
Market & Customer Analysis
The cosmetic dentistry market is worth upwards of $33 billion, and that number is projected to increase by 13.5% worldwide in the next six years. The North American market accounts for about 40% of the global revenue and has a projected growth rate of 14.8% in the next six years.
The industry’s growth can be attributed to the recent technological advances in the industry and consumers’ increased disposable income globally. Dental tourism is a major contributor to the worldwide increase in market size.
Start-up costs are the primary barrier to entry for a dental practice. Dr. Khan wanted to open a practice but needed help to transition from being a partner at his previous practice to establishing a completely new practice in a new city. Buying the existing Peter’s Dentistry and inheriting its equipment and client base is a major factor in Khan Smiles’ current success.
Competitors in the dental industry typically structure their businesses in one of two ways.
Most dentists provide general dentistry services. Examples of such services are extensions, cleanings, root canals, and fillings. Others choose to specialize. Specialist dentists still treat oral issues, but their primary focus is enhancing teeth.
Khan Smiles specializes in cosmetic dentistry. Our clients come to us with th purpose of enhancing their teeth cosmetically. Our treatment plan consists of assessing their oral health and ensuring that it is good enough to perform their procedures and then performing them.
Customer analysis:
Everyone needs to go to the dentist, but who does? People of all ages use general dentistry, but the customer base is skewed towards people with more disposable income. Oral healthcare is important, but it is something people set aside in favor of more pressing needs such as food and rent.
The consumers of cosmetic dentistry have an even more distinct show of disposable income. Cosmetic dentistry is not seen as a necessity but a luxury, so usually, those with higher incomes are the ones partaking.
The ages of consumers are split between young adults and seniors. Both groups seek to improve their appearance, but their motivation differs.
Young adults often opt to remove healthy teeth in favor of veneers or implants to follow current trends. They also opt for quicker cosmetic services over long-term ones. An example of this would be getting veneers instead of braces or Invisalign.
The individuals in this segment typically earn more than $50,000 annually. Their occupations vary, with some working professionals and the majority staying at-home spouses.
Seniors usually have signs of decay or other tooth damage when they come in. Implants are common in this segment. This group is usually retired, having waited until then to complete all their cosmetic procedures.
Khan Smiles will target both these demographics equally. Our marketing plan will detail how each group is reached.
Sales and Marketing Plan Sales and marketing contribute majorly to your business's success. Sales do not happen overnight and need to be strategized. Marketing is a key part of that strategy, hence the two plans being placed together.
Competitor analysis:
| Competitor | Strengths | Weaknesses |
|---|---|---|
| Aspen Dental | Established brand, wide reach | Higher price point, less personalised |
| Pacific Dental Services | Strong marketing, national presence | Generic offering, less specialist focus |
| SmileDirectClub | Competitive pricing | Lower service quality, limited expertise |
Khan Smiles's competitive edge: Specialist expertise, personalised service, and a clear focus on the underserved segment of the market set us apart from the established players listed above.
SWOT analysis:
| Positive | Negative | |
|---|---|---|
| Internal | Strengths: Specialist expertise; experienced founder; strong client relationships; differentiated positioning | Weaknesses: Limited brand recognition as a new entrant; single location; reliance on founder capacity in early years |
| External | Opportunities: Growing market demand; underserved niche segments; digital marketing reach; referral network growth | Threats: Established competitors with greater resources; economic downturn reducing discretionary spend; regulatory changes |
Sales & Marketing Plan
Khan Smiles operates in the North Nashville area. There is no shortage of cosmetic dentists in Nashville, so we have to continue setting ourselves apart from the competition.
The rising interest in cosmetic dentistry has resulted in a slew of unethical behavior. Clients are allowed to undergo procedures they don’t qualify for or need. Khan Smiles believes that there is no one-size-fits-all all treatment and that each patient should be informed about every aspect of the procedures they want done.
Our client relationship starts with a consultation. We will walk them through all the possible options that will give them their desired look. If what they want can be achieved with traditional dentistry or orthodontics, for example, someone who wants veneers when all they need is a correction on the alignment of their teeth, we will advise that they take that route.
Transparency is paramount to us. We want our client relationships to be built on trust. People refer service providers they trust; referrals are key to increasing sales.
Cosmetic dentistry is not the most accessible market for consumers. The cost of maintenance and services has been declared one of the main reasons people opt not to actualize their aesthetic dreams. Part of Khan Smiles’ sales strategy is to provide means for those people to get the care they need.
Our pricing model is inclusive. Our costs are still industry standard because there is a threshold for quality. However, our payment methods are where we shine. We offer laybys - a payment method where services are paid off in installments and completed at the end of the payment period.
Pricing strategy: Pricing is set to be competitive within the Nashville, Tennessee, USA market while reflecting the quality and specialist nature of the services delivered. All pricing is reviewed annually against market benchmarks.
Marketing channels:
- Digital presence (website + SEO) — professional website with content marketing to attract organic search traffic from clients searching for cosmetic dental practice services in Nashville, Tennessee, USA
- Social media — active presence on relevant platforms to build brand awareness and engage prospective clients
- Referral programme — incentivised referral programme for existing clients; target 30% of new clients via referral by end of Year 2
- Local networking and partnerships — attendance at industry events and partnerships with complementary businesses in Nashville, Tennessee, USA
- Google Ads — targeted paid search campaigns for high-intent keywords during launch phase
Marketing budget Year 1: $29,400 (7% of projected revenue)
Additional marketing notes:
Khan Smiles wants to keep the ‘neighborhood dentist’ brand inherited from the previous practice. People in Nashville are big on community and have been coming to this office for generations.
So we want to keep that homely feel but update it a bit, like a family house going through renovations.
Our marketing will be a blend of what has worked historically and exploring new methods. Short-form social media content has attracted a lot of attention to businesses in our sector. Healthcare practices have gained a footing in social media, and the niche has become quite popular.
People can now relate to these healthcare professionals and feel less intimidated to approach their facilities. Using real-life examples of patients also helps people visualize themselves in the patient’s place. Reality TV shows about cosmetic procedures have been popular for a few years, and continuing that trend on social media is even more influential on customers.
Our traditional marketing methods include newspaper advertisements, radio advertisements, and seminars. These methods appeal to the senior segment of our target market. Most of our senior clients are retired. This knowledge inspired us to have advertisements in resorts and guesthouses around Nashville. This group spends a considerable amount of time on leisure activities, so taking our advertisement to these spaces will expose our business to them.
Operating Plan
Personnel Department Task Deadline Becky Lynch Sales Engage clients about new maintenance package and increase sales by 10% End of Q2 Ross Brown Finance Restructure expenditures to free up 5% of revenue for profit Before Q1 starts Pravesh Khan HR Hire and train a dental hygenist End of Q2
Staffing plan:
| Role | Year 1 | Year 2 | Year 3 |
|---|---|---|---|
| Dr. Pravesh Khan (Owner / Director) | Full-time | Full-time | Full-time |
| Operations / Senior Staff | Part-time | Full-time | Full-time |
| Support / Junior Staff | — | Part-time | Full-time |
Legal & compliance:
- All required licences and permits for cosmetic dental practice operations in Nashville, Tennessee, USA
- Professional liability and general liability insurance
- Data protection compliance in accordance with applicable laws
- Health & safety policies and risk assessments in place before trading begins
Management Team
Pravesh Khan, Founder and CEO: Pravesh has known he has wanted to be in healthcare since middle school. He completed his studies and started working with a mentor in Portland, Oregon. His mentor specialized in cosmetic dentistry, and Pravesh took over his department when he retired. After building cosmetic experience for ten years, five of which he was the head of the department, he decided to venture to a different city. He purchased the practice that became Khan Smiles and set to work. Mary Johnson, Chief Financial Officer (CFO): Mary is a financial consultant who manages the books of healthcare practices. One practice typically needs more revenue to have a CFO full-time, but Mary saw a way through that. Instead of only working with one healthcare office, she takes multiple on as clients. She worked with Pravesh’s old practice and followed him upon his request when Khan Smiles opened. Her experience in healthcare makes her the perfect candidate to strategize Khan Smiles’ financial success. Chrystal Stone, Human Resources Business Partner: Chrystal has two degrees in Human Resources. She spent 10 years as an HR Generalist in a large medical corporate firm and was ready for growth. Khan Smiles is the perfect opportunity for her to hold a more senior position and contribute to a firm. Rhiannon Campbell, Director of Operations: Rhiannon oversees everything that does not fall under the other management team members’ responsibilities. She and her capable team handle procurement, sales, marketing, and customer service.
Dr. Pravesh Khan — Founder & Director
Advisory support: The business will engage an experienced accountant and a business mentor through the local enterprise support network to provide financial oversight and strategic guidance during the first three years of trading.
Financial Plan
Projected Profit or Loss Statement
Year 1 Year 2 Year 3 Sales $200,000 $450,000 $500,000 Direct Cost of Sales $60,000 $135,000 $150,000 Production Payroll $0 $0 $0 Other $0 $0 $0 Total Cost of Sales $60,000 $135,000 $150,000 Gross Margin $140,000 $315,000 $350,000 Gross Margin % 70% 70% 70% Operating Expenses
Sales and Marketing Expenses
Sales and Marketing Payroll $0 $0 $0 Advertising/Promotion $1,000 $1,000 $1,000 Travel $0 $0 $0 Miscellaneous $500 $500 $500 Total Sales and Marketing Expenses $1,500 $1,500 $1,500 General and Administrative Expenses
General and Administrative Payroll $150,000 $150,000 $160,500 Sales and Marketing and Other Expenses $0 $0 $0 Depreciation $5,000 $5,000 $5,000 Dues and Subscriptions $800 $800 $800 Professional Fees $0 $0 $0 Rent $15,000 $15,000 $15,000 Software Purchases $0 $0 $0 Insurance $4,000 $4,000 $4,000 Telephone and Internet Access $2,000 $2,000 $2,000 Utilities $900 $900 $900 Miscellaneous $0 $0 $0 Payroll Taxes $15,000 $15,000 $16,050 Other General and Administrative Expenses $0 $0 $0 Total General and Administrative Expenses $192,700 $192,700 $204,250 Other Expenses:
Other Payroll $0 $0 $0 Consultants $0 $0 $0 Contract/Consultants $0 $0 $0 Total Other Expenses $0 $0 $0 Total Operating Expenses $194,200 $194,200 $205,750 Profit Before Interest and Taxes ($54,200) $120,800 $144,250 EBITDA ($59,200) $125,800 $149,250 Interest Expense $8,000 $8,000 $8,000 Taxes Incurred $0 $12,000 $14,000 Net Profit ($51,200) $105,800 $127,250 Net Profit/Sales (25,6%) 23,5% 25,5%
Projected Cash Flow Statement Cash Received Year 1 Year 2 Year 3 Cash from Operations
Cash Sales $200,000 $450,000 $500,000 Cash from Receivables $0 $0 $0 Subtotal Cash from Operations $200,000 $450,000 $500,000 Additional Cash Received
Sales Tax, VAT, HST/GST Received $0 $0 $0 New Current Borrowing $0 $0 $0 New Other Liabilities (interest-free) $0 $0 $0 New Long-term Liabilities $0 $0 $0 Sales of Other Current Assets $0 $0 $0 Sales of Long-term Assets $0 $0 $0 New Investment Received $0 $0 $0 Subtotal Cash Received $200,000 $450,000 $500,000 Expenditures
Expenditures from Operations
Subtotal Spent on Operations $194,200 $194,200 $204,250 Additional Cash Spent
Sales Tax, VAT, HST/GST Paid Out $0 $0 $0 Principal Repayment of Current Borrowing $0 $0 $0 Other Liabilities Principal Repayment $0 $0 $0 Long-term Liabilities Principal Repayment $0 $0 $0 Purchase Other Current Assets $0 $0 $0 Purchase Long-term Assets $0 $0 $0 Dividends $0 $0 $0 Subtotal Cash Spent $194,200 $194,200 $204,250 Net Cash Flow $5,800 $255,800 $295,750 Cash Balance $5,800 $261,600 $557,350 Projected Balance Sheet Assets Year 1 Year 2 Year 3 Current Assets
Cash $5,800 $261,600 $557,350 Accounts Receivable $0 $0 $0 Other Current Assets $0 $0 $0 Total Current Assets $5,800 $261,600 $557,350 Long-term Assets $20,000 $15,000 $10,000 Accumulated Depreciation $5,000 $5,000 $5,000 Total Long-term Assets $15,000 $10,000 $5,000 Total Assets $20,800 $271,600 $562,350 Liabilities and Capital
Current Liabilities
Accounts Payable $0 $0 $0 Current Borrowing $0 $0 $0 Other Current Liabilities $0 $0 $0 Subtotal Current Liabilities $0 $0 $0 Long-term Liabilities $0 $0 $0 Total Liabilities $0 $0 $0 Paid-in Capital $50,000 $0 $0 Retained Earnings ($51,200) $105,800 $127,250 Earnings ($51,200) $105,800 $127,250 Total Capital ($1,200) $105,800 $127,250 Total Liabilities and Capital ($1,200) $105,800 $127,250 Net Worth $20,800 $271,600 $562,350
Wrapping up the Dental Practice Business Plan
Congratulations! You’ve just equipped yourself with everything you need to write the perfect business plan for your dental practice.
Before you start writing, just remember that the true secret to a great business plan is that it's yours. Make sure your business’s personality shines through. People like to know who they’re working with.
3-year profit & loss projection:
| Year 1 | Year 2 | Year 3 | |
|---|---|---|---|
| Revenue | $420,000 | $620,000 | $860,000 |
| Clinical supplies and direct labour | $159,600 | $235,600 | $326,800 |
| Gross profit | $260,400 | $384,400 | $533,200 |
| Gross margin | 62% | 62% | 62% |
| Salaries and wages | $142,800 | $210,800 | $292,400 |
| Marketing and advertising | $29,400 | $43,400 | $60,200 |
| Rent and utilities | $48,000 | $48,000 | $50,400 |
| Other operating costs | $25,200 | $31,000 | $34,400 |
| Total operating expenses | $245,400 | $333,200 | $437,400 |
| Net profit / (loss) | $15,000 | $51,200 | $95,800 |
Break-even analysis:
- Estimated fixed monthly costs: $18,000
- To cover fixed costs, Khan Smiles needs to generate approximately $29,000 in monthly revenue
- Break-even is projected to be reached in Month 5 of trading
Key financial assumptions:
- Revenue growth of 47% in Year 2 and 38% in Year 3 based on planned capacity expansion and marketing investment
- Clinical supplies and direct labour estimated at 38% of revenue throughout the forecast period, consistent with industry benchmarks
- Staffing costs set at 34% of revenue, scaling incrementally with new hires in Year 2 and Year 3
- Marketing budget fixed at 7% of revenue; reviewed quarterly and adjusted based on channel performance
- No bad debt assumed; payment terms enforced from day one
Funding requirements:
Khan Smiles is seeking $150,000 to fund the following:
| Use of funds | Amount |
|---|---|
| Equipment and fit-out | $60,000 |
| Working capital (6 months) | $52,500 |
| Marketing launch | $22,500 |
| Legal, licences, and professional fees | $15,000 |
| Total | $150,000 |