The number of young dentists buying private practices has declined over the past few years according to an article written by Timothy G. Giroux, DDS. One reason cited is that dental corporations are recruiting the best dentists before they graduate.
Another is fear relating to the economy. Most dentists, like doctors, graduate with a substantial amount of student loan debt. Starting private practices early in their careers may lead to a decline in overall revenue. This is the fear but does not correlate with the facts.
Pay Off Debt Earlier
When dentists consider purchasing dental offices for sale in Arizona, they are likely to make more money than when continuing to work for a corporation. This is due to the added benefit of being the owner of the practice. Dentists who work at the practice, one of which is you, are paid for their work. That is a business expense. Once all expenses are covered, the owner (also you) gets the profits to reinvest in practice or do with as desired.
Experience
It is wise to gain one to three years of experience at a corporate dental clinic or practice before looking into dental offices for sale in Arizona. This is to build up a clientele and learn as much as possible about how a successful practice operates. It also helps to realize just how important support the staff is to practice. Most clients will stay at an office after it is purchased by someone new if they know the support staff will remain.
Practices in Small Towns
These can be on the market longer but are often more successful than those in big cities. There are several dental offices in big cities, so clients can easily switch to another one when their dentist retires or relocates. People in small towns will stay at the local practice to avoid traveling to cities just to visit a dentist.
Find the Right Practice
Dentists interested in buying practices can Click here to access a comprehensive database of dental practice listings. Match listings to desired locations, areas of practice, and the number of current clients. Full descriptions are available, and experienced brokers can arrange for showings.
