The current economy has been unbelievably tough on many small business owners. In my small community alone, Barnes and Noble, Sonic, Wendy’s, Baskin Robbins, Outback Steakhouse, Maui Wowi, Samurai Sams, Quiznos, K-Mart, and too many mom and pop shops in every category to list, have recently gone out of business.
The economy has changed forever, and the businesses that aren’t adapting quickly enough are shuttering at record levels.
But even amongst all of this doom and gloom there are some savvy business owners who are experiencing unprecedented profits and growth.
Despite the fact that so many businesses are struggling and closing, my dental assisting school has managed to consistently provide me with a passive six-figure net income for the last five years.
So, what makes this business so different from all of the failing businesses out there?
- Low start up costs. The start up costs for all of the failed businesses listed above range from $150,000 to several million dollars. They all require expensive build outs, long term leases, and costly equipment and inventory. In contrast, your dental assisting school is held within your own office so it doesn’t require and additional facility. The startup costs are so minimal that you can literally recover your entire investment in a few months, versus several years.
- Marketing. The franchises listed above pay expensive ad agencies millions of dollars to craft their marketing campaigns. Traditional “image advertising” focuses more on creating a buzz or brand than on selling a product. This can be very costly and makes it virtually impossible to track which promotions are bringing in the sales. Your dental assisting school will utilize direct response marketing. With direct response marketing, your main goal of a marketing piece is not necessarily to make the immediate sale. Rather, the goal is to gather the prospect’s contact information. Having the prospect’s information allows you to market to them over and over again until they decide to become a student. This type of marketing also allows you to build a relationship with the prospect and gain their trust. Focusing your marketing efforts and budget on a group of people who like you, and have already expressed interest in your school, greatly increases conversion. Print ads, radio ads, website, email follow up campaign, direct mail, postcards etc., are all written for you and included with the program. Every marketing piece that I personally use to pack students into my own school is provided to you.
- Competitive Advantage. The national “institutes” typically teach their dental assisting courses over a period of 12-15 months and charge their students $15,000-$19,000. Our curriculum is taught over the course of just thirteen weeks with a tuition cost of $2,500-$3,900. Because your overhead will be low (usually less than 20%), this price point will be attractive to students and very profitable for you.
- You’re an Industry Expert. I’m willing to bet that you know more about dentistry and dental assisting than you do about retail sales, smoothies, fast food or ice cream. I’ve shared with all of you in past emails and on my blog, the many business failures that I’ve experienced. Car wash, real estate, stock market – all outside of my area of expertise. It wasn’t until I decided to focus on my areas of strength, starting up dental offices and running a dental assisting school, that I experienced huge success. This is a business that can leverage the knowledge and credentials of you and your team.
Operating a dental assisting school is a truly viable way to increase your revenue without the huge risk and financial investment required for other business ventures. Create a solid revenue stream in your own space, with your own staff, in your area of expertise.
All the Best,
Mark Costes, DDS
P.S. If you’d like to schedule a conference call with me, feel free to email or call my curriculum coordinator Siony (pronounced Shawnee) at 928-830-4557.