Would anyone be interested in a real world example of buying a dental practice?

[The Hammer]

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Members don't see this ad.

OK here's the deal. I am about to buy an existing dental practice and possibly a second to merge with it. I have bought 2 in the past and have helped advise the buys of about 11 others. I would love to share the entire experience online and answer any questions that you might have but.........

Any trolling and I am gone. Seriously. I am more than glad to help professionals but I have no patience with internet b u l l s h i t

So anyone interested?

 

[DMD 4 Me]

I think this is a great idea, and would be a great thread.

As long as there is no b.s from silly people, like you mentioned.

 

[DrReo]

It would be greatly appreciated. Would you ever recommend someone graduating to go out and purchase their practice? Or play the more traditional gpr/aegd or associateship.

 

[Blue Panther]

It would be greatly appreciated. Would you ever recommend someone graduating to go out and purchase their practice? Or play the more traditional gpr/aegd or associateship.

Also taking into consideration that the graduate has $300k+ loans at 6.8+% (10 year repayment plan)
AND can live off of $35k/year after tax for 3-4 years after graduation.

Thanks for the advice.

 

[The Hammer]

Also taking into consideration that the graduate has $300k+ loans at 6.8+% (10 year repayment plan)
AND can live off of $35k/year after tax for 3-4 years after graduation.

Thanks for the advice.

I'll start a new thread for my journey into debt (again 🙁 ) and I'll start by talking about figuring out what will work best for you and your debt situation. I will also address the different things you need to think about being a student coming right out of school verses someone like me who is 17 years out of school and owned a dental practice for 14 years. So start thinking about what your situation is when you graduate and if you want to pm me with questions that contain info that you don't want on the thread that will be ok too.

 

[Saddleshoes]

Does this mean you are getting out of the education gig?

 

[Pedosmakebank]

Schweet!! 😀 👍

 

[teh dentist]

potential to be the best SDN thread ever.

 

[Drabuisa]

I wish more dentist were this helpful. Thanks Hammer!

 

[lotexigeus]

<--- interested

 

[Cold Front]

This can turn to an uber awesome thread. I'm talking to brokers about existing practices now, and they are all anti-new-grad (and they blame the lenders). 😡

 

[BingDent]

Interested too.

 

[The Hammer]

Does this mean you are getting out of the education gig?

I'm out baby! Too much hassle for too little money. I LOVED helping the students but dealing with the faculty was a royal pain. The final straw was when I was told "you can't give your students any techniques or products or tricks that you used in practice because that would be unfair to the other instructors." I said "I'm not here to teach the other instructors, I'm here to teach the students."

 

[Usha29]

So can you please tell me what one should consider before buying an existing practice?Maybe things like location,the annual income,patient flow...etc?
Should this be given any importance as to why the owner is selling the place?
Thankyou for this thread!

 

[The Hammer]

So can you please tell me what one should consider before buying an existing practice?Maybe things like location,the annual income,patient flow...etc?
Should this be given any importance as to why the owner is selling the place?
Thankyou for this thread!

yep I will. I am meeting with the dentist whose practice I am considering buying this AM. Once I do that I'll start a new thread and then we are off to the races👍

 

[Saddleshoes]

I'm out baby! Too much hassle for too little money. I LOVED helping the students but dealing with the faculty was a royal pain. The final straw was when I was told "you can't give your students any techniques or products or tricks that you used in practice because that would be unfair to the other instructors." I said "I'm not here to teach the other instructors, I'm here to teach the students."

I understand completely...
I have been there and done that one too!