How long does it take for a dentist to have a healthy and profitable business?

[Divineimpetus]

How long does it take for a dentist to have a healthy and profitable business?

Located: Major Metropolitan City (LA, Phoenix, New York, Miami...etc)
Profitable: dental income over 120k a year
healthy: paying bills, no huge labor shortages, nice customer base
Speciality: None--General Practice

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[ItsGavinC]

Dude, if your definition of "profitable" is you taking home 70k, then you don't have much to worry about.

How long would it take for that? Less than one year, me thinks.

 

[ItsGavinC]

I made a comment about your idea of "profitable," not to rip on you, by the way, but because my idea is vastly different. I couldn't live (support my family, pay bills, pay back student loans) on 70k.

 

[Divineimpetus]

I made a comment about your idea of "profitable," not to rip on you, by the way, but because my idea is vastly different. I couldn't live (support my family, pay bills, pay back student loans) on 70k.

Don't worry about it. I'll change the figure to something a bit more "profitable" -- 120,000.

 

[LestatZinnie]

not to knock on anyone here, but you're asking the question in the wrong place as 95% of us here are dental STUDENTS who haven't practiced in a real clinic, so most opinions given to you will be conjectures rather than first hand info.

go ask this question in dentaltown.com i'm sure you'll get better answers.

 

[ItsGavinC]

Agreed. I can't answer mstunkel's questions with any definitive answers.

 

[dental poopie]

i have questions for gavinic that kind of goes along with this forum. Are there certain things you should definitely do when buying an existing dental practice? Like make sure the selling dentist stays on for a certain length of time. Are there any red flags one should be looking for when shopping for dental practices. and last of my list of quesitons is, where currently is the best region to buy a dental practice financially. O.K one more.. while looking around on the web at various dental practices I have found several practices grossing upwards of a million+ and asking alteast half a million to buy. Is this a good idea. I mean, are you going to be able to keep the vast majority of patients through the transition process? that would be a real bummer if most of the patients, and the income, left with the selling dentist

thanks for answering any of the above questions.

I would get a non-compete agreement.