Many dentist view opening a second dental practice as a way to build more profit and success, only to find that it is more tedious and frustrating than they originally thought.
In an article from Dental Economics, author Randon Jensen discusses the implications opening a second dental practice may have. Jenson writes, “Those who happen to make money as a side benefit to doing what they love, while genuinely caring for and helping people, will find success in abundance and perpetuity”.
In his article, Jensen ask readers to ask themselves the following questions:
- What financial risk will I be facing?
- Are you willing to give up discretionary time in your life to commit to managing a second practice?
- Will you be able to easily find, maintain, or replace associate dentists in the practice?
According to Jensen, “While there are certainly advantages to owning multiple practices, in our experience they are usually outweighed by the challenges and risks”. How might opening a second dental practice impact you?
To read more, see the full article from Randon Jensen in Dental Economics.
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