After years of study and hard work, you can now add that coveted DDS after your name. This monumental milestone comes with hard career choices. Should you start a practice from the ground up, or purchase one of the dental offices for sale in Arizona? Buying an established practice offers several benefits.
When you buy an established practice, it comes with a patient base already attached to it. This reduces the need to drum up business from nothing. Well not every current patient will remain with the practice, most will. This established patient base will allow you to become comfortable in the area, get to know the community, and make a name for yourself without exerting a huge amount of time, effort, and money on marketing campaigns. While you still should invest in marketing, the amount needed with an established practice is lower than that of a brand new and unknown one.
With the established patient base also comes a larger network. They will tell their friends and family all about their new dentist, which will likely spark those people to try you out and so on. With a startup, the number of people spreading the word is lower, and thus is will take longer to build up the client list. This extended network alone adds great value to the practice and can prove invaluable to those who have little to no knowledge of network marketing. Not only can you benefit from the network, but also the proven business practices, particularly if the business aspect was rushed over during schooling.
Not only does an established patient base allow for acclimation into the dental business world while providing larger network marketing opportunities, it also commonly provides higher profits when compared to those of new practices. While the purchase price may be larger, the higher potential growth margin allows for higher collections and thus cash flow. This larger cash flow not only covers operational costs and loan repayment, but will also translate into profit. With a startup, this may not always be the case.
For more information on the many benefits of purchasing Dental Offices For Sale in Arizona, contact the professional and knowledgeable staff at Western Practice Sales.