Buying a practice and other career paths for fresh graduates

Spending years in the dental school and experiencing success, failures, and challenges along the way till the end is not a joke. As a student, you look forward to the day when you walk down the aisle with your graduation gown. Graduation can be one of the biggest and most important days of your life. For others, it marks the end of their hardships as a dental student and a ticket to a better future. But graduation is not an end but the beginning of a more challenging but rewarding journey.

Dental Student

Life after graduation

Once you already got your diploma from the dental school, the next thing you need to think of is to find a job. As a fresh graduate, you have 8 options to choose from. This includes

           *   Practicing as an associate
           *   Advanced Education in General Dentistry (AEGD)
           *   General Practice Residency (GPR)
           *   Building your own dental office from scratch
           *   Buying an existing practice
           *   Applying for a corporate employment
           *   Getting an additional education or specialty training

If your family or if family members have their own dental office, you can as well opt to start a career under them.

Buying an existing practice

Are you dreaming of becoming one of the best dentists in town in the future? Are you planning to spend the rest of your life doing dental works independently, to be your own boss, and to take control of your career and your future? If so, then perhaps buying a dental practice is good for you.

Buying an existing practice offers you a lot of benefits. Some of these benefits are:

1. Get access to the existing patient base

Building a good patient base can take time and effort. By buying an existing practice, you have the option to acquire the existing patient base, plus the referrals from the past and present patients. This means you have an access to immediate cash flow.

2. Higher chances to get a loan

Banks and other lending firms trust existing dental practice with good cash flow than a new one. Needless to say, if you prefer to buy an existing practice with reliable and good financial history, your chances of getting your loan approved are higher than building your own practice from scratch. With a good financial background, banks and lending firms are assured that you can be able to pay back your loan.

3. Acquiring the current dental staff

Depending on your agreement, you have the option to acquire everything especially if the seller is a retiring dentist from dental tools, equipment, and instruments to facilities and dental staff. This means that you do not have to worry about finding a new set of employees for your dental office and training them to fit the role they will be playing in your practice.

Dental Tools

4. Control over your practice

A private dental practice is a business, not just a practice as what many people believe. This means that you get to fuel your passion for business and at the same time practice your dental career. As the owner, you are the boss and you have the control over your business and your practice.

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