The Dentalpreneur Podcast w/ Dr. Mark Costes 2005: From Startup to Success
On today's episode, we have Black Belt coach, Dr. Chris Green. Dr. Green is a dynamic and accomplished dentist who founded Green Dental Care in 2018. His practice has seen rapid growth thanks to his meticulous research and extensive preparations, allowing him to reduce his clinical commitments to just three days per month. In 2023, the practice's value reached a point where a strategic partnership made sense. Besides his thriving practice, Dr. Green is a respected author and co-founder of the Practice Launchpad, a valuable resource for dentists looking to build successful practices.
In this episode, we dive into the nuances of starting and acquiring dental practices. Dr. Green shares his journey and the critical steps he took to ensure the success of his startup practice. We discuss the importance of demographic research, creating a solid business plan, and the value of a strategic partnership. Dr. Green emphasizes the need to master your first practice before considering expansion and highlights the role of the Practice Launchpad in guiding dentists through their startup or acquisition journey.
We also explore the current market trends for DeNovo practices versus acquisitions, the impact of private equity on dental practice sales, and the critical factors to consider when choosing between starting from scratch or acquiring an existing practice. Dr. Green provides insights into the challenges of distressed practice acquisitions and the importance of thorough due diligence and demographic research.
For those contemplating the dental practice journey, Dr. Green outlines a comprehensive checklist for startups, emphasizing the need for a clear vision, securing financing, and assembling a reliable advisory team. He also shares practical advice on negotiating with contractors, equipment specialists, and IT providers, as well as the importance of credentialing and assembling your team before opening your doors.
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