Whether you’ve been a dentist for years, or just entering the field, you’ll be faced with the decision of whether to buy a dental practice or to join another one. There are many factors that will need to be considered as you’re making this decision.
If you’re considering a purchase of a practice, there are two factors to think about within that decision:
1. Do you want to start a new practice from the ground up? This takes a lot of work as you must hire a new staff and begin establishing the business and clinical systems. You’ll need to consider what technology you need to perform the treatments you wish to offer. You’ll also need a marketing program to promote your practice.
2. Do you want to buy an existing practice? This takes less establishing work and more getting accustomed to the fast pace and systems of an existing practice right away. If the existing practice is slower you will need to market energetically by improving customer service, training your staff, and increasing overall production per hour. If buying the practice from a dentist who is retiring, you’ll need to consider noncompete agreements with the seller.
As you begin considering the purchase of a dental practice, many questions come into play. The answer is complex. There are a myriad of different contexts and purposes available, but finding the right one for you is what’s most important. As you proceed into your dental calling you’ll need to keep your eyes wide open to your options and seek advice from our dental consultants at Blueprint Smiles. We will walk along with you as you build and run your dental practice. We can help you decide whether to purchase an existing practice or start one from the ground up. We offer dental business consulting services such as: data analytics, business operations, logo design, SEO, website design and management, loan and patient acquisition, and practice evaluation.
Connect with Blueprint Smiles so we can build your practice success today!