What are the benefits of having a parent with a private practice?

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sparkypan

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Would you say that dental students who have a parent or family member who is a dentist have a significant advantage, in terms of salary when they graduate, over students that will have to start their own private practice? What would you say are these advantages?

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The biggest advantage is that you can enter into your parents established practice straight after school while others don't have that luxury.
 
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Isn't this kind of self explanatory?
 
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They might sell it to you for really cheap after teaching you the ropes.

Plus they could help with paying for your education... this is the biggest advantage if you have any type pf rich parent(s).
 
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No definitely no advantage.

Do you not have a relationship with your parents or something? Here I thought I've seen it all..
 
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As someone with parents with a private practice, I would say the biggest benefit is having a guaranteed job. They told me that when I start working they'll let me take home 100% of whatever I produce, so hopefully that will let me pay off my loans much faster.
I'd also say another benefit is having mentorship when it comes to running a dental office. It is really time consuming and difficult to run a successful business so any help one can get is really valuable.
 
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I had a pre-dent ask me this exact question a few days ago in person. I wish Freshmen would actually stop and think before speaking.

1. Looking a job after dental school is not a huge problem at the moment.

2. Taking out a loan to open a private practice after pre-existing loans for dental school could be risky. If you are not able to quickly out produce your combined loan payments, then you are obviously digging a deeper hole.

3. Your parents can pass the private clinic to you. Seems the most obvious answer...
 
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There is no advantage because you're parents will be harder on you and you will have to pay them back for the 18 or more years of living at them home rent free.
 
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Would you say that dental students who have a parent or family member who is a dentist have a significant advantage, in terms of salary when they graduate, over students that will have to start their own private practice? What would you say are these advantages?
Wait... are you going to bu next year??
 
As someone with parents with a private practice, I would say the biggest benefit is having a guaranteed job. They told me that when I start working they'll let me take home 100% of whatever I produce, so hopefully that will let me pay off my loans much faster.
I'd also say another benefit is having mentorship when it comes to running a dental office. It is really time consuming and difficult to run a successful business so any help one can get is really valuable.

thanks for the info! Just wanted another opinion that wasn't my parent's. That 100% take-home sounds amazing.
 
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I had a pre-dent ask me this exact question a few days ago in person. I wish Freshmen would actually stop and think before speaking.

1. Looking a job after dental school is not a huge problem at the moment.

2. Taking out a loan to open a private practice after pre-existing loans for dental school could be risky. If you are not able to quickly out produce your combined loan payments, then you are obviously digging a deeper hole.

3. Your parents can pass the private clinic to you. Seems the most obvious answer...


Lmao how would you know considering you just got into dental school, Class of 2021? I'm assuming you don't have dentist parents since you didn't say so, so why even put your two cents in? Sounds like jumping the gun a little bit, don't you think?
 
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Parents pay all or a significant portion of their loans.

At least in my class that's the trend.
 
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Lmao how would you know considering you just got into dental school, Class of 2021? I'm assuming you don't have dentist parents since you didn't say so, so why even put your two cents in? Sounds like jumping the gun a little bit, don't you think?
You're correct, I just got into dental school whereas you haven't or I would assume so.

What does having dentist parents have to do with voicing my opinion on a public forum? I have a lot of financial support from family who are part of the business financial sector. Giving you some financial advice wouldn't hurt especially when it is obvious.

Personally, I have shadowed a multi-million production private clinic in the heart of NYC. The owner is definitely passing the practice to the son just like the two generations before. I was offered a job for the next 4 years in dental school and an associate position after my residency. I already know my production will be a flat rate per hour as a general dentist and 40-50% of the production if I decide to specialize.

It's not called jumping the gun when you don't seem to understand networking in the OUTSIDE REAL WORLD. I don't even have to use my anecdote concerning practice takeovers. Some of my classmates already have parents in the dental field and are expected to transfer ownership.
 
As someone with parents with a private practice, I would say the biggest benefit is having a guaranteed job. They told me that when I start working they'll let me take home 100% of whatever I produce, so hopefully that will let me pay off my loans much faster.
I'd also say another benefit is having mentorship when it comes to running a dental office. It is really time consuming and difficult to run a successful business so any help one can get is really valuable.
Do your parents wanna adopt me?
 
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Lmao how would you know considering you just got into dental school, Class of 2021? I'm assuming you don't have dentist parents since you didn't say so, so why even put your two cents in? Sounds like jumping the gun a little bit, don't you think?

Male OBGYNs don't have vaginas, but they still know a lot about them.
 
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My father's a Dentist and my mother's a Hygienist. I feel like I grew up knowing a lot about dentistry and the business it takes because of that. I have unfiltered input in regards to dental lifestyle, office care, input on how to deal with patients and employees, and a place that I can (if i choose to but probably wont) purchase or be an associate in guaranteed right out of school. My parents will pay nothing towards my schooling however because they are of the mentality that they did it on their own and all of my siblings and I can do the same and that it teaches us a lesson. I don't like it but its been fair since they did it for my 3 brothers before me and my little sister. I've been given time doing literally every aspect of the business that doesn't require a licence so that's helped my application and resume. Other than that, It's been nice to grow up in an upper middle class family and be afforded many amenities that others could not so that's been a benefit. Dunno what else to say. I still haven't been accepted yet despite my own personal accomplishments and the aforementioned benefits so I guess it doesn't amount to THAT much to adcoms LOL.
 
What are the benefits of being so privileged that you don't see anything wrong with asking the internet to enumerate your many blessings for you?

Income is determined largely by effort and acumen, so it is very possible you will be out-earned by people with more experience with having to hustle for what they get. That isn't throwing shade. That is my real observation and advice. Working for yourself, an employer, or your parents, you will make more if you are striving to do so. There probably aren't real numbers to compare people in your extremely fortunate situation with everyone else, because that really isn't the variable that matters. You have gotten far ahead in life on having a good start, but that won't keep carrying you forever. If you don't keep on making the most of the investments made in you, they won't grow.
 
What if you do a bad crown prep and get grounded?
 
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