Starting,Buying or Joining A Practice

[sumozmom]

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Ok - which is the smartest way to go....

Lets asume u just wanna be a gen dentist - no residancy( do u hae to do residancy anyway?)

should u

1. Start ur own practice?
2. Buy an already established practice?
3. Join an already established practice?

How much can BUYING a practice cost anyway?

🙄

 

[ElDienteLoco]

It depends on the demographics of where you want to practice and your pain threshold for insecurity and ramen noodles for the first few years.

If your target area really needs dentists, you can start up a practice (don't forget $100,000+ in equipment, etc) and within the year be working at full capacity. If the area is not in need of dentists, you can probably elbow your way in if you have good people skills and a knack for marketing, but it still could be more than a year before you see ANY profits at all from your practice...this one's not for the faint of heart.

If the target area is more saturated, like the Wasatch Front in Utah, you might be better off to buy an established practice. You are basically buying a patient base and old, used equipment. I have a friend who bought a mediocre strip mall practice in Utah for $180,000. He worked hard and after overhead took home about $150 his first year. This year looks more like $200,000. If you want to practice in a saturated area, I think this would be best.

Joining a practice as a partner means business responsibilities and liabilities and more money than an associateship. Make sure you get along really well with your partner.

 

[aphistis]

This is an enormously broad question. There are no absolute right or wrong answers, and the best option for you will depend entirely on your career plans after school.

 

[Rube]

Ok - which is the smartest way to go....

Lets asume u just wanna be a gen dentist - no residancy( do u hae to do residancy anyway?)

should u

1. Start ur own practice?
2. Buy an already established practice?
3. Join an already established practice?

How much can BUYING a practice cost anyway?

🙄

This question can best be answered by thinking how you want to practice. Do you want to do endo? implants? extractions?. How are you skills? How fast are you? You gotta develop these skills is Dental school and it takes practice, practice, practice. For most people, going solo practice right away just isn't smart. For those with mad skills and drive, why not buy right away? See, its more than just money and style, you've got to ask yourself am I ready to be on my own practicing the way that makes my patients and me happy.

 

[sumozmom]

This question can best be answered by thinking how you want to practice. Do you want to do endo? implants? extractions?. How are you skills? How fast are you? You gotta develop these skills is Dental school and it takes practice, practice, practice. For most people, going solo practice right away just isn't smart. For those with mad skills and drive, why not buy right away? See, its more than just money and style, you've got to ask yourself am I ready to be on my own practicing the way that makes my patients and me happy.

Great info - my original question began like this...

Lets asume u just wanna be a gen dentist - no residancy


Since I am already older than most dental students I really do not have the time opp to get into anything else.

But those are great questions to ask ur self about practice. Do you know if one has to do a residency?

 

[Rube]

Great info - my original question began like this...

Lets asume u just wanna be a gen dentist - no residancy


Since I am already older than most dental students I really do not have the time opp to get into anything else.

But those are great questions to ask ur self about practice. Do you know if one has to do a residency?

One does not need to do a residency. A good residency program in general dentistry will help you become faster and more competent though and will only take a year out of your life.