You will have a finite, but indeterminate number of years that you will practice dentistry. Whether you work until you die or become disabled, or quit because of illness or just plain burnout, you have a finite number of years to practice. It’s just that we can’t see how many years that will be as you start out on your career path.
Ask a recent dental graduate for a description of the practice he or she would like to purchase and you will hear, “I want a high quality crown and bridge practice, in the best area of town, where I can do my kind of work on my kind of patients.” For that matter, it would be amazing if a purchaser ever had a different response. Vanity is usually the reason he or she wants to purchase this kind of practice, but is it really the best opportunity?
Starting up a new dental practice is an extremely risky venture as a result of increased competition and an unpredictable economy. A dentist would be wise to consider purchasing an existing dental practice instead of starting a new one from scratch.
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Office rent should be in the area of 4% of gross practice gross revenues...
When you recognize the clinical and management compensation as an overhead expense, the overhead percentage should be 80% to 85% of annual gross collections for a well run general dental practice.
Just read the following letter sent to us by a dentist who chose to work with a unilateral, seller broker and see his results...
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