Hey! I'm Frankie, and welcome to my dental advice blog. I'm a foodie and I love sweet treats, but I also love my teeth! It can be hard to keep your dental health in top condition when you've got a sweet tooth, but it's not impossible. Over the years, I've learned tons of great advice from friends, family members and dentists, and I'd love to share it with you. My blog is here to give you all the tips and tricks you need to stay free of decay and other tooth problems without giving up all your favourite foods and snacks.
The orthodontics practice has gained significant prominence more so since it is serving a variety of customers; from children, teens, to parents. What's more, it is likely to continue to expand. After training, you are likely to join an existing practice as an associate. However, what if you are ready to become independent in your career? Would it be more rewarding for you to buy an existing practice, or would you instead start your practice? Read on to discover the pros and cons of either option as well as tips on what to do when making either choice.
Buying an existing practice
When you make a purchase, you will be purchasing all aspects of the practice including the facility itself, the employees, the equipment and sometimes the clientele. When this is the option you prefer, ensure that you ask all the relevant questions and evaluate all the facts relating to the practice. For instance, ensure that you are satisfied with the staff, and if not, prepare to spend money and time to replace it. Ensure that the location, customer base, and the prospects for growth are satisfactory.
The primary disadvantage with buying an existing practice is that, if you did not carry out a thorough analysis of the practice, you might spend a lot of money and time trying to align the practice to your preferences. Moreover, buying a practice is very expensive. The advantages, however, if you did an excellent scan of the business include; you will get an existing and active customer base and staff, you will not need to worry about buying new equipment, you will keep getting new customers due to a current system of referrals, and you will start earning money immediately.
Starting your practice
This means that you would like to build everything from scratch. You will have to purchase a facility, equipment, hire competent staff, and establish your customer base and patient system. When starting, you will need to research the area regarding demographics and so on.
The main advantage is that you will be able to locate and align your practice with what you had envisioned. However, there are several disadvantages. For instance, you will not make a lot of money in the first months or year of your practice, it is expensive to buy the equipment and the facility, and it will be costly to hire and train your personnel.
Both options have a dark and bright side to it. However, the reality is that you can succeed either way in the end.Share
5 September 2018