A Life-Changing Decision
Purchasing a dental practice is a life-changing choice for a dentist.
This is a decision that takes time and requires due diligence. It can feel risky to shift from employee to owner, but the risk can be well worth the reward. When done correctly, buying a dental practice provides greater control over one’s career, the satisfaction of owning and operating a business, and financial security. One study shows that a dentist can earn an additional $14,000,000 (that’s right – million!) over the life of their career by owning an office rather than working as an employee.
Ready to purchase a dental practice?
Each dental practice acquisition opportunity is unique and practice sales and transition can be very complicated. If you’re considering purchasing a practice, take these questions into practice(s) involved. Some factors that affect the valuation cost include:
- Do you have the desire and commitment to be a practice owner?
- Have you maintained your personal credit and built up your personal savings?
- Have you identified the criteria (location, size, practice philosophy, etc.) for your ideal practice?
If you answered yes to the above questions, you might be ready to buy a dental practice. Learn more about what factors to take into consideration and how to secure financing to prepare for a successful transition. Get in touch with a dental broker to help guide you from initial research to final transaction.
