Ok so I am only going to be a Sophomore in college but I've done more research on many things related to dentistry than probably 99% of pre-dents. I've been looking into dental practices that are for sale lately and the numbers are quite shocking. For example:
I saw one practice for sale that grosses 600k a year for 115 days of work a year with around an average of 50% overhead, that's crazy!
I saw another 250k a year on a 3 day work week, even with 60% overhead which is on the higher end, you'd be making 100k for 3 days a week.
Another, 1,000,000 gross on a 4 day work week with around 40% overhead, you kidding me?
Plus so many practices grossing 500k on a 3-4 day work week all around the country!
So what this is telling me is that I could be out of dental school, maybe do a 1 year AEGD/GPR, maybe associate for a year or 2 and then own a practice working 3-4 days a week making anywhere from 250k-500k?
Now of course I would have to deduct my net income as a lot of that would go towards the repayment of the dental practice loan, but other than that, fortunately, I will graduate with no debt as my parents are paying for my education. And once the loan is paid off, damn, I'll be raking in dough.
Am I right about all of this or am I missing something that is making it seem too good to be true? Now I know it would take a bit of effort on my part in terms of learning the business side of dentistry and being good, but naturally I am fairly good with business things so I don't think it would be too hard to learn if I put forth an honest effort. Other than that though... as long as I am not missing anything, dentistry seems like a sure-fire way to make bank, no?
I saw one practice for sale that grosses 600k a year for 115 days of work a year with around an average of 50% overhead, that's crazy!
I saw another 250k a year on a 3 day work week, even with 60% overhead which is on the higher end, you'd be making 100k for 3 days a week.
Another, 1,000,000 gross on a 4 day work week with around 40% overhead, you kidding me?
Plus so many practices grossing 500k on a 3-4 day work week all around the country!
So what this is telling me is that I could be out of dental school, maybe do a 1 year AEGD/GPR, maybe associate for a year or 2 and then own a practice working 3-4 days a week making anywhere from 250k-500k?
Now of course I would have to deduct my net income as a lot of that would go towards the repayment of the dental practice loan, but other than that, fortunately, I will graduate with no debt as my parents are paying for my education. And once the loan is paid off, damn, I'll be raking in dough.
Am I right about all of this or am I missing something that is making it seem too good to be true? Now I know it would take a bit of effort on my part in terms of learning the business side of dentistry and being good, but naturally I am fairly good with business things so I don't think it would be too hard to learn if I put forth an honest effort. Other than that though... as long as I am not missing anything, dentistry seems like a sure-fire way to make bank, no?