Are You Ready to Own a Dental Practice?

Dental practice ownership can be an incredibly fulfilling venture, offering autonomy, financial stability, and the opportunity to make a lasting impact on patients’ oral health. However, before taking the leap into practice ownership, you should assess your financial, clinical and emotional readiness. 

Financial Readiness

Owning a dental practice requires financial preparedness. Do you have the necessary resources to start or buy a dental practice? Prospective practice owners should have some cash on hand and be prequalified by a lender. By having your finances in order, you will be able to secure financing, manage expenses, and navigate the financial aspects of practice ownership.

Clinical Readiness

Clinical readiness is a fundamental aspect of practice ownership. Ensure you have obtained the necessary education, training and experience to deliver high-quality dental care. Confidence in your clinical abilities will instill trust in your patients and lay a solid foundation for your practice’s success.

Emotional Readiness

Practice ownership brings autonomy and the opportunity to shape your professional destiny. You need to be prepared to not only deal with complex treatment cases but also handle the day-to-day responsibilities of running a business. Successful practice owners have a vision for their practice. Ask yourself if you have a clear understanding of the type of dental practice you want to build, including target patient demographics, services offered, and the overall experience you want to create for your patients.

Dental practice ownership requires an entrepreneurial spirit, a willingness to work hard, determination and resilience. How well do you tolerate risk? Are you excited about finding new ways to improve patient care, implement innovative technologies, and drive the growth of your practice? Are you prepared to navigate challenges and seize opportunities in the evolving dental landscape?

As a practice owner, you will also be responsible for leading a team and creating a positive and productive work environment. Assess your leadership qualities, such as communication skills, the ability to motivate others, and the capacity to make tough decisions.

So, are you ready to own a dental practice? If the answer is yes, you have two common paths to ownership: start a practice or acquire an existing one. Contact our commercial real estate team if you are interested in establishing a new practice and check out our available practice listings to start searching for your ideal practice.