Transitioning to a new practice, or finally opening your own, is a big decision that often comes with a lot of second guessing. How do you know you’re ready to open your own dental practice? Whether you’ve been going back and forth for years, or just entertaining the idea, discover 3 ways to know if a purchase may be the next step for you!
You’re Financially Prepared
Purchasing a practice, although it may seem overwhelming, can be a simple process with the right plan in place. If you’re financially sound, and ready to invest in your future, then you may just be in the perfect spot. Understanding the expenses that come with owning a practice takes a level of expertise that some dentists may not have, and obtaining financing from a specialized lender can take time and connections. If you’ve prequalified for financing than you have a good understanding of what kind of practice you can afford and are one step closer to acquiring your own!
Learn more about financing options for those looking to purchase a dental practice here.
You’ve Got Your Team
When buying a dental practice, there are many moving pieces to the puzzle and having a solid team of specialists behind you can make or break a successful transition. If you’re connected with a transition specialist that can walk you through each step of the process, than you may be ready to take that leap! If you don’t have a team just yet, make sure you look for experts in their field that have a history of successful transitions and are always looking out for your best interests.
Connect with the experts at ADS Page Brown & Associates today with any questions about obtaining your dental practice!
You’re Ready to Relocate
Often, the driving factor behind a practice transition is the desire to relocate to a new destination, a new day-to-day, and ultimately a new adventure. Pride Institute has identified that 1 out of every 4 dentists start a new practice due to their desire to relocate. If you’re feeling the desire to move, obtaining a practice in another city might just be the perfect answer! Get connected with a transition specialist or check for listings in your desired area.