With a budget as low as $15,000 an entrepreneur can start a small-scale teeth whitening business. Also, an entrepreneur who wants to start a standard teeth whitening business could budget from $150,000.
In this article, we are going to look at the average cost of starting a teeth whitening business. A teeth whitening business is a business that helps people whiten their teeth. Interestingly, a teeth whitening business is a service-based business that can be operated from a single location or from a client’s location.
In essence, the scope and type of teeth whitening business an entrepreneur wants to start will determine the amount needed to get the teeth whitening business up and running.
But generally, with a budget as low as $15,000 an entrepreneur can start a small-scale teeth whitening business. Also, an entrepreneur who wants to start a standard teeth whitening business could budget from $150,000.
Apart from the rough estimate stated above as regards the amount it will cost you to start a teeth whitening business, there are certain key factors that can determine the amount it will cost you to start your own teeth whitening business and that is what we will discuss in this article.
Factors That Can Influence the Cost of Opening a Teeth Whitening Business
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Licensing and Permits
If you are considering starting a teeth whitening business in the United States of America or in any country of the world, you need to secure all the needed licenses and permits. Without that, you won’t be allowed to legally start your teeth whitening business.
Please note that the costs associated with obtaining the necessary licenses and permits to operate a teeth whitening business can vary from one city or state to another. So, it is important to research the requirements specific to the location you intend to start your teeth whitening business.
Licenses and permits needed to operate a teeth whitening business include business licensing fees, cosmetology licenses, dental hygienist licenses, retail sales permits, professional corporation licenses, state board of dentistry approval, and other related permits and licenses.
Please note that in the United States, you should have an estimate of $500 to $5,000 or more for all the needed licenses and permits to start a teeth whitening business.
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The Cost of Purchasing Teeth Whitening Equipment and Supplies
If you are planning to start a teeth whitening business, then you should have a budget for teeth whitening products, gels, trays, and other consumables, teeth whitening light or laser, protective eyewear, treatment chairs or beds, disposable applicators such as brushes, swabs, or foam pads, mirror and shade guide, and personal protective equipment (PPE) (gloves, masks, and disposable aprons).
From experience, you should have a budget estimate of $10,000 to $20,000 or more for your teeth-whitening equipment and supplies.
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The Location You Want to Start the Business
Different cities have different rental and leasing rates, and they require different budgets to run a business even if the business is the same.
For instance, if you have plans to start your teeth whitening business in San Francisco, California, then you must be ready to spend far more than is required to start the same business in Raleigh, North Carolina. This is so because San Francisco, California is one of the most expensive cities in the United States.
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The Cost of Marketing and Advertising
Trust me, establishing a strong online presence, creating a website, developing marketing materials, and advertising your teeth whitening business will attract reasonable expenses.
In essence, you should have a budget that will take care of your business website design, online marketing campaigns, printed materials, and business cards. Depending on how big you want to announce your presence in the market, you should have a budget estimate of $1,000 to $5,000 or more.
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The Cost of Purchasing Insurance Policy Covers
If you are considering starting a teeth whitening business, then part of what you should budget for is insurance. Trust me, the amount you will spend in purchasing insurance coverage for your teeth whitening business can be significant and will influence the overall cost of starting the business.
Please note that the cost of purchasing insurance policy coverage for your teeth whitening business will depend on your location and the coverage options you choose. But generally, you should have a budget estimate of $1,000 to $3,000 per year for insurance.
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Staffing Cost
The only reason why you may not have a budget for staffing costs is if you choose to operate the business as a one-man show.
But, if you plan to hire teeth whitening professionals and other support staff members, then you should consider their salaries, benefits, and training costs and this can be a large chunk of your budget. Please note that your staffing expenses will vary because it will depend on the number of staff you want to hire, and of course, their qualifications.
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Operational Costs or Ongoing Expenses
Although, there is no fixed amount when it comes to operational costs, but the truth is that it can be a significant part of your budget especially if you are going to be running a standard teeth whitening business.
Please note that your operation costs include ongoing expenses such as office supplies, utilities, transportation costs, and maintenance expenses for your equipment and tools.
We cannot give an estimate of what you should budget for your operational costs because it will vary based on your business size and the volume of clients you handle.