Best Strategy to Survive As a New Grad

[KSDental]

---

Members don't see this ad.

With a mountain of debt and tough economic times, what's the best route for a new dental grad to go? Is it better to associate, start a practice ASAP, join the military, specialize, work for a chain, or something else that I haven't thought of?

 

[charlestweed]

I think getting an associate job is the most common and safe route that most new grads take. That's what I did when I graduated. Specialize if you are ok with going from door to door to meet the GPs because without the GP referrals, you won't survive.

Always aim toward setting up your own office. Trust me, you will be a lot happier when you work for yourself. When you are busy moving from one dental chair to the next at your own office, you don't feel stress like when you work for a dental chain....you actually feel very good because it's your own practice. You don't have to spend a lot to set up an office. I spent $120k for mine. Daurang spent $80k for his. And this one is for sale for only $49k (Here is the link: http://betterobin.com/PracticesforSale/Riverside2012.html) .....just pay $49k, hire a front desk assistant, and you are ready to go.

 

[Daurang]

And this one is for sale for only $49k (Here is the link: http://betterobin.com/PracticesforSale/Riverside2012.html) .....just pay $49k, hire a front desk assistant, and you are ready to go.

$49K is too much for this gorgeous practice. I was told by a friend in OC to offer nothing (ZERO) and just pay rent. The landlord will gladly take your offer since there are others out there just like it available for nothing. I'd do exactly that if I was moving to Riverside, but I'd rather retire to Cancun if I wanted to retire to Mexico.

 

[ortho lurker]

$49K is too much for this gorgeous practice. I was told by a friend in OC to offer nothing (ZERO) and just pay rent. The landlord will gladly take your offer since there are others out there just like it available for nothing. I'd do exactly that if I was moving to Riverside, but I'd rather retire to Cancun if I wanted to retire to Mexico.

You mean $0 like this: http://leeskarinandassociates.com/properties/index.php?action=listingview&listingID=101 for a fully-equiped office with digital x-rays in beautiful Santa Barbara by the beach? I have seen ads for ortho practices in So Cal where the retiring doc wants you to take over the lease and the patients and equipment are yours!

 

[charlestweed]

$49K is too much for this gorgeous practice. I was told by a friend in OC to offer nothing (ZERO) and just pay rent. The landlord will gladly take your offer since there are others out there just like it available for nothing. I'd do exactly that if I was moving to Riverside, but I'd rather retire to Cancun if I wanted to retire to Mexico.

You mean $0 like this: http://leeskarinandassociates.com/properties/index.php?action=listingview&listingID=101 for a fully-equiped office with digital x-rays in beautiful Santa Barbara by the beach? I have seen ads for ortho practices in So Cal where the retiring doc wants you to take over the lease and the patients and equipment are yours!

I would take this Santa Barbara office in a heartbeat, if I were a Caucasian doctor, who speaks perfect English without any accent. $3682/month in rent is kind of high but it's OK since I don't have to spend 300-400k to set it up. No business loan necessary.

Yeah, there are plenty of abandoned offices that you can buy for very cheap. If I need to start another office in the future, I will find one of these offices and save a ton of money. There is no reason for anyone, who wants to practice in CA, to find an empty office space and spend $200-300k to set it up from scratch. If one cannot survive with such incredibly low overhead, then dentistry must not be for him/her. He/she should leave the profession.

 

[ortho lurker]

Here's another ortho practice listing for $15,000 http://www.betterobin.com/PracticesforSale/OrthoOrange2012.html for guess where.... Orange County!!! So for you pre-dents who keep asking is it economically viable to practice in CA, do these dental practices selling for less than the price of a Rolex watch or completely free (and there are still NO takers) tell you something? 😕

 

[Duriel]

A dentist from dentaltown wrote this new dentist survival guide

http://www.blurb.com/books/3336637-the-new-dentist-survival-manual-2012-ad-edition

 

[charlestweed]

Here's another ortho practice listing for $15,000 http://www.betterobin.com/PracticesforSale/OrthoOrange2012.html for guess where.... Orange County!!! So for you pre-dents who keep asking is it economically viable to practice in CA, do these dental practices selling for less than the price of a Rolex watch or completely free (and there are still NO takers) tell you something? 😕

This listing agent is also the one who sold an existing ortho practice to me in 2009 for $165k. When I took over this practice, I quickly realized that I paid too much for it. Many patients wore braces for a long time and they already finished paying for their tx. I had to finish these cases and didn't get paid a dime. Having this office has forced me to work hard to improve it because failure is not an option. After 3 years of hard work, it is now my 2nd highest production office (of the 3 offices that I have). I recently renovated the office by buying new chairs and replacing the ugly carpet with new tiles. Here it is:

 

[djeffreyt]

The best route is to learn to budget and live within your means, choose to live in an area that has a high need for dentists, and work really hard either in your own practice or in a very high % compensation associateship for as long as you need til you can retire early

 

[OceanDMD]

Do you think maybe there is a reason why these facilities have been abandoned and offered for bottom dollar? Please. There are tons of practices for sale that actually have PATIENT BASES. There are threads on dentaltown that compare startups to purchases that have immediate cash flow. Don't be fooled by the stories about startups netting owners 150k + their first year. This is not the norm. My advice, find a good associateship for a couple years to improve your quality and speed. You will continue to see the number of practices for sale grow over the next 10 years because of the recession preventing baby boomers from retiring. This will drive the valuations down because of increased supply. Find a nice practice generating cash flow when you feel your skills are ready, and purchase. You can always upgrade/move the facility in the future. You are buying the cash flow and patient pool.

 

[beannaithe]

Residency. Associate in an area that needs dentists. Pay down the loans. Buy a practice....eventually.

 

[Lethstang]

with the amount of debt of a new dds you should jump into ownership as fast as you possibly can to realize youre income potential. Most associateships fail, working for a corporation only works for a few, and alot of public health jobs will wear you down.

Business isnt rocket science. Take a few online courses, read a few books, and jump on in.

 

[crystal2013]

I think getting an associate job is the most common and safe route that most new grads take. That's what I did when I graduated. Specialize if you are ok with going from door to door to meet the GPs because without the GP referrals, you won't survive.

Always aim toward setting up your own office. Trust me, you will be a lot happier when you work for yourself. When you are busy moving from one dental chair to the next at your own office, you don't feel stress like when you work for a dental chain....you actually feel very good because it's your own practice. You don't have to spend a lot to set up an office. I spent $120k for mine. Daurang spent $80k for his. And this one is for sale for only $49k (Here is the link: http://betterobin.com/PracticesforSale/Riverside2012.html) .....just pay $49k, hire a front desk assistant, and you are ready to go.

Who did your 1st office construction? Could you share the contractor's contact information? Thanks a lot.

 

[charlestweed]

Who did your 1st office construction? Could you share the contractor's contact information? Thanks a lot.

Sent you a PM message.