There are many opportunities for a new dentist to acquire a job at a practice owned by another doctor, or potentially a franchise. There is a variety of good reasons as to why purchasing a current existing practice is a solid career strategy for any new dentist.
Here are 3 of our favorite reasons:
1. Owning a Practice Provides Stable Income
Owning a practice provides a steady stream of income that is not reliant on the work ethic or well-being of another practitioner. This means that you are paid according to your hard work and availability. You get what you deserve, and someone else isn’t cherry picking your schedule.
2. Owning a Practice Provides An Opportunity for Growth
By owning your own practice, this means that you are not only providing yourself with a stable income, but you are also setting yourself up to build a business. This means that the sky’s the limit when it comes to your desire for growth. There is a variety of different business models that would allow for a lucrative expansion if you so desire.
3. Owning A Practice Provides You With The Ultimate Decision-Making
Owning your own practice means that you are the ultimate decision-maker when it comes to the practices and ethics of your business. This means you could have the opportunity to decide what kind of office culture you would like to work in, what kind of methods you would like to see take place within your office, and who you would have representing your business as a whole.
Ultimately, practice ownership provides stability, opportunity, and the freedom to operate your business as desired. You have the opportunity to start your career by taking ownership of your field and making a difference in the world by providing a safe place that represents your ethics, profession, and practice.
Your decision to purchase a dental practice should be managed by someone with experience and the proper connections. Contact Jaquay Enterprise today for a worthwhile discussion surrounding the potential of your future business!
Jaquan Enterprise | Practice Transition Advisors