Shared Practices | Your Dental Roadmap through Practice Ownership Ask George - Should You Start or Acquire Practice #2 and Beyond?
Mar 17, 2025
Expanding your dental practice isn’t just about opening new locations; it's a complex journey filled with critical decisions. The conversation highlights the need for passion, clear goals, and self-assessment before diving into multi-practice ownership. The speakers weigh the pros and cons of startups versus acquisitions, stressing the importance of a solid foundation and effective leadership. They caution against reckless growth and emphasize quality management, all while sharing lessons from their own experiences in the dental field.
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Passion and Purpose in Multi-Practice Ownership
- Assess your passion and purpose before expanding to multiple practices.
- Multi-practice ownership requires an irrational drive to handle the increased stress.
Burden of Ownership
- The burden of ownership increases with each practice, including financial and personnel responsibilities.
- Ensure your first practice runs successfully without you before expanding.
Group Practice First
- Achieve a two-doctor model in your first practice before expanding, unless your demographics prevent it.
- Ensure your first office thrives independently before adding another location.