Benefits of Purchasing an Existing Dental Practice

Whether you’re a seasoned dentist looking for more independence or a new dentist looking for a start, purchasing an existing dental practice can offer many great opportunities. This type of major career decision can be stressful and full of uncertainties. Because of this, we’ve created a list of a few of the many benefits of purchasing an existing dental practice.

Benefits of Existing Dental Practice Purchase

While there are many benefits of purchasing an established practice, the main ones are below:

• There is an Infrastructure Already in Place – When you purchase an established practice, you will be benefitting from the previous dentist’s marketing efforts as well as the many other things he or she has put into developing the dental practice. The current patients and even most of the current staff are likely to stay loyal to the dental practice even after you take over. This is much simpler and cheaper than starting from scratch.
• You Have an Opportunity to Build Wealth – Owning your own practice can help you to increase your salary. You will inherit many more responsibilities, but they do come with quite a higher salary. Additionally, business owners, including dental practice owners, are afforded certain tax deductions and other incentives.
• Gives You a Competitive Advantage – If you already own your own practice, but your patient base is struggling to stay high enough, creating an additional practice location will expand your market share while stimulating consumer interest at the same time. Additionally, purchasing another practice location will prevent your competitors from purchasing the property.

While purchasing an existing dental practice can have multiple benefits, it does come with challenges as well. Here at CTC National, we can help you make the decision to purchase a dental practice or start one from scratch. To learn more, please contact us today!