Dentists Who Invest Podcast Your Journey Into Practice Ownership with Martyn Bradshaw DWI-EP122
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Are you an associate dentist with dreams of owning a practice? This episode is a must-listen. Join us as we dive deep into the promising world of dental practice ownership with practice broker Martyn Bradshaw. Martyn outlines the roadmap for associates aspiring to buy their own practice, highlighting the importance of a strategic plan and a clear vision of the type of practice to purchase.
Curious about the pitfalls to avoid and the right questions to ask when considering a practice? Martyn shares his invaluable advice and insights, including the differences between a principal-led and associate-led practice. We also discuss the post-COVID surge in demand for private practices and the current challenges in recruiting NHS associates.
Lastly, we discuss the financial aspects of purchasing a practice as Martyn explains the significance of cost neutrality and the long-term benefits of owning a practice. We delve into how banks assess affordability, the role of deposit size, and the implications of loan to value ratios. Martyn stresses the importance of taking a long-term view when purchasing a practice and taking it slow when transitioning into a new practice. This episode is packed with practical advice, so don't miss out!
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