Category Archives: Before You Buy

Am I Getting the Dental Practice I Paid For? Two Flavors of Due Diligence

“Am I buying what I think I’m buying?” If you’re going to spend hundreds of thousands, maybe even millions of dollars buying a dental practice, you should be sure you’re getting the dream office that was advertised to you, and not what used car dealers call a “lemon.” That’s where Initial Due Diligence comes in.

Are You Sure You Want to Own a Dental Practice?

An underappreciated first step in buying a dental practice? Decide whether you want to buy one at all.

I’m obviously biased, since I’ve spent the last decade-plus helping dentists buy practices, so even I have to back up every once in a while and remind myself: it’s not for everyone!
Keeping patients happy is, no surprise, how you have a successful practice that brings in plenty of cash for you.

If you as a practice owner only do these three things, they’re already in the top 5% of dental practices nationwide in terms of their operations.

7 Questions that Tell You If It’s a Good Practice For You

I’m a numbers guy. I love spreadsheets, statistics, and the quantitative side of analyzing a practice. But just as important is the qualitative part of the analysis. Sure, it might be a great practice on paper. But that doesn’t necessarily mean it’s good for you.

Here are the top 7 questions I tell dentists to ask themselves about a potential practice to buy.

Here’s How to Get Rid of Student Debt FAST

If you’re a dental associate, your student loans probably look like Mount Kilimanjaro. Yeah, you’ll conquer it eventually, but that’s a heck of a climb to get there. And if you stay in an associate or employee role, that will be one tough summit.

The average dental school grad in 2022 came out of school with just shy of $294,000 in student loan debt. To put it mildly: yikes. And that’s just the average! While some have a bit less, some have twice that amount. Maybe you’re in that boat—if so you’re not alone. A quick google search shows that there are a ton of current and former students worried about how to pay all of that off.

So, how do you do it? How do you pay down those student loans as fast as possible?

Buy a Mid-sized Practice. Here’s Why.

Let’s talk about sustainability.

No, I don’t mean the environmental buzzword—important though that may be.

I’m talking about personal sustainability. The ability to maintain your life, your work, yourself throughout a long and lucrative career.

So, with that in mind, here’s a piece of general advice for most dentists: don’t shoot for the stars.

Counterintuitive, right? Obviously this one is going to need a breakdown.