Dentists Who Invest Podcast When Should I Enter/Exit A Dental Practice? with Andy Acton from The Dentology - The Business of Dentistry Podcast DWI-EP85
You can download your FREE report on how you can avoid financial mistakes as a dentist using the link just here >>> dentistswhoinvest.com/podcastreport
———————————————————————
Enlighten Smiles Link: dwi.enlightensmiles.com
Strap in for a deep dive into the undulating journey of dental practice ownership as we unravel the intricate dynamics of entering and exiting dental businesses. We've got Andrew Acton from The Dentology - The Business of Dentistry Podcast, owner of Frank Taylor Associates, to shine a light on this oft-complicated process and share his nuggets of wisdom. Andrew is a seasoned dental broker, and his insights into the world of dentistry are worth their weight in gold.
We start the podcast by painting a detailed picture of a typical individual who buys into a dental practice, the evolution of their journey, and what an average exit looks like. Further, we demystify the financial implications of owning a dental practice. We discuss the initial financial step back you might have to take and the importance of calculating your true hourly wage. As the conversation progresses, we delve deeper into the relationship between a dental practice owner and the practice itself, which can often be overwhelming.
As we draw the curtain on our episode, we touch upon the significance of maintaining a work-life balance in the dental industry. We also discuss the risks of procrastinating, especially when it comes to decision-making, and the need for self-awareness when things are not going your way. We conclude by sharing some insights on selling a dental practice, including the timeline, keeping the practice in top shape, and potential tax benefits. Join us for this enlightening discussion and gain a fresh perspective on the world of dental practice ownership.
———————————————————————
Disclaimer: All content on this channel is for education purposes only and does not constitute an investment recommendation or individual financial advice. For that, you should speak to a regulated, independent professional. The value of investments and the income from them can go down as well as up, so you may get back less than you invest. The views expressed on this channel may no longer be current. The information provided is not a personal recommendation for any particular investment. Tax treatment depends on individual circumstances and all tax rules may change in the future. If you are unsure about the suitability of an investment, you should speak to a regulated, independent professional.