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Creating Your Business Plan

Tyler Ludlow
March 1, 2022
Woman looking at tablet searching vivid business center.

Creating a business plan will help you put all the important elements of your business into one place. This way when you have important questions pop up you can refer to your business plan to answer them. For a teeth whitening business you are going to want to include the following items;

  1. Brief description of the ideas you have for your business.
  2. What is the thing that makes your business unique? (This is your separation factor.)
  3. Who is going to be involved in our business? What roles will each person take on?
  4. Previous market research for your business.
  5. The different Services, products, and pricing.
  6. How will you finance your business?

Creating Your Business Description

This part of the business plan can be as complicated or as simple as you want it to be. All in all it should just be a simple description of what you envision for your business. Imagine you have to explain what you want to do with professional teeth whitening to someone using only one paragraph, then jot that down.

Here is an example of something that a new teeth whitening professional might write.

“My teeth whitening business is going to use an at-home whitening office to provide professional teeth whitening services to the people of Orange, County, by providing chairside whitening treatments to my clients at the competitive rate of $150 per treatment. I will be the sole operator and face of my business.”

Above is a very simple description that you might use when describing your business, but if you have a more complex dream and vision for where you want to take your whitening business, you can make the description as descriptive as you want.

Your separation factor(s)

It’s likely that there are other teeth whitening professionals in the location that you will be servicing, so you will need to know what is going to separate you from the competition. If you plan on using Vivid Teeth Whitening as your supplier then you are already a step ahead, because our products are well the best quality on the market.

However, getting customers to understand the higher-quality products that you provide can be difficult at first. So, below is a quick list of things that could separate your business from the competition.

A Professional Whitening Spa: In most cases, a lot of your competitors will be performing the treatment in the home. If you are able to open your own whitening clinic that will be a huge advantage because it adds an element of legitimacy and professionalism to the mix that competition will not have.

Price: Price is tricky because you never want to leave money out of the equation, but if you can hold a competitive and somewhat lower price than your competitors then that gives you an advantage. This, however, is not our recommended separation factor because it can start an ever-lowering price war with the competition and since our products are superior to your competitors it sends the message that we are of lower value.

Availability to Anywhere: If you are able to meet clients at their place of residence that adds a unique spin to your business. Some people these days hate to leave their home, so someone that can meet them where they’re comfortable gives you an advantage with these customers.

Partnerships: Partnerships can be huge when it comes to getting your business and adding some legitimacy to what you are doing. Partnerships can include local spas, gyms, and other businesses in your town. If other well-established businesses can vouch for your service then potential clients are more likely to choose you over the competition.

Custom Website: Having a custom website to educate users about your brand can be a huge separation factor, especially while most teeth whitening professionals rely on social media alone for their business and have 0 web presence. With our whitening spa, we get about 45% of our clients from people finding our website through a search platform like Google.

Create Your Own: There are a million different ways you can separate yourself as a teeth whitening professional. Get creative and come up with something that will really add extra value to your clients when they visit you.

Business Members and Roles

This part could be incredibly simple for you, if you are the only one that is going to be involved in your teeth whitening business then you are quite simply the owner, manager, and operator of your business. However, if you have others going into business with you, then it is a good idea to figure out what their role in the business may be.

For example, you may have an investor who is providing you the money that you need to start your business, and in return, they own a portion of your business. It’s possible that the only contribution this person adds to your business is money, but you have discussed other responsibilities with the same person like them doing the financial work while you run the operations.

In other cases you may be going into business with a friend or family member and each of you will be performing teeth whitening treatments. In this case, you may want to discuss how you guys will be making decisions about the company together. Note, if you do planning on starting the business with another professional teeth whitening partner; you will each need to train and get certified separately before starting.

Providing Research

In our first recommended step for starting a teeth whitening business, we recommend doing some research into your business so that you are aware of what you will be facing when you first start. This means knowing what it will be like running a teeth whitening operation in your area, learning about your competitors, and what rules and regulations you will have to follow surrounding your business.

Services, Products, and Pricing

This is where you will dive into the numbers of your business and how you are going to structure your services and pricing. As a whitening professional the professional chairside service should be your main focus and there should not be much variety when it comes to this service. The only decision you should have to make regarding your treatment is how much you are going to charge.

There are a lot of factors that can affect the price that you choose. The main to pay attention to is what your competitors are charging. It is usually not a good idea to start your pricing off much higher than your competitors, but we also recommend not starting your prices off too low because customers could your see your business as being of less value than theirs.

Other factors for choosing your pricing include; where you are located, who your market it, and current financial trends that are impacting the world like inflation.

We also highly recommend adding extra whitening products for sale in your business. In some cases, up to 70% of your clients will want to buy after-treatment products to make their white smile last longer. If you do choose to add these products as part of your business, you will need to come up with a pricing structure for them as well. Check out our page on how to make money teeth whitening here.

Your finances

Having a plan to fund your business is key. In many cases, you may already have the funds that you need to get started. One of the best parts of a teeth whitening business is that it can cost-effective start.

In some cases, like those who are planning on opening a spa or buying a van for a mobile operation, it is a good idea to have an in-depth financial plan set so that you can plan on how you are going to pay for a possible long term lease on space or vehicle. In these cases, it may be a good idea to consult with an accountant to create a plan moving for moving forward.

Luckily, with super high margins a teeth whitening business easily pays for itself as long as you have customers coming in to whiten their teeth.

Adding other elements

Though we have found that the things listed on this page are the most important elements to add to your business plan there may be other things that you may choose to add. For a few more templates and ideas for your plan visit the United States Small Business Administration here.

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