a steady source of income that provides you with more money
than any job will ever pay. You need to own a practice with a
large enough patient base to generate an income sufficient to
provide you with a reasonable income and the money needed
to retire that debt (for the education loan and the loan for buying a practice). The irony is that being in debt requires you to
go further in debt to invest in the one thing that will provide you
with the income to ultimately get out of debt, and that is you
need to invest in buying a practice. All of our recent graduate
clients have educational debt. Once they understand that they
cannot afford not to buy a practice, they are able to borrow the
money needed for a practice acquisition. Some of them are
smart enough to realize there are no dental jobs that are going
to pay them enough money to live on and pay off the debt. These
up and coming professionals are smart enough to invest in
themselves once again, by purchasing a practice that will provide them with the income needed to get out of debt. They are
not afraid of investing in themselves. They know they can do
the work, they just need the patient base to work on, and the
income will follow.
The problem with the education is not the cost, but the misinformation provided to students relating to the business of dentistry. It goes without saying that recent graduates cannot afford
not to buy a practice!
TO THE SELLER
Doctor, if you are getting close to considering adding a dentist
to your practice or outright selling, why not pass this article on
to a young dentist struggling as an associate? You may motivate
him or her to buy your practice!
Dr. Richard V. Lyschik’s transition,
management and coaching experiences go beyond the traditional single
general dental practice sale. His Dental
Office Network Team has helped thousands of dentists acquire, expand,
merge multiple practices, build from the
ground up, as well as guided older, disabled and “burned out” dentists sell with
dignity. The Practice Rescue Department has resurrected practices in demise, saving them from imminent
disaster. Over 40% of dentists return 2-3 years later to invest in another dental practice! Dr. Lyschik has broken numerous industry
records as the highest producer in the country! Just ask any major
lender – they all know him! Discuss your transition plans with a seasoned fellow dentist, and a recognized Premier Transition Specialist:
[email protected].
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[email protected]
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www.northtexasdentistry.com
|
NORTH TEXAS DENTISTRY
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