Skip To Content
A+ A- A Main Content

Is a Dental Partnership Right for You?

outside building structure of a dental office

Partnerships are a lucrative option when an individual or organization wishes to buy a dental practice. The opportunity is attractive, especially for those who seek flexibility in work management and time scheduling. The most common reason partnerships fail, however, is the division of authority.

Here’s everything you need to know when considering whether to join a dental partnership or not:

Perform Comprehensive Due Diligence

When it comes to the point where you decide to buy a dental practice in partnership with another dentist, there are a few pertinent questions that need to be answered beforehand. First, start by learning what the ownership interest break-down will be. Make sure that you have this in writing. Next, it is important to know how patients will be assigned so that workload can be divided equally. Also, if the office space is leased, it is vital to see if you will be listed as the lessee or tenant.

Other relevant questions revolve around the respective shares and their exchange in several circumstances. For instance, if you buy a dental practice in partnership with another dentist, are you allowed to sell your share if and when you wish? Will you, as a partner, have the right of first refusal to purchase the other person’s ownership interest? Moreover, understand what will happen if a partner dies or becomes disabled as these matters can impact the overall decision.

Get Professional Help

Before you dive into a decision, make sure that you get proper advice from a professional who has experience in these matters. Never trust a partner blindly, as this can have dire consequences.

If you are in need of a professional consultation or want to buy a dental practice or take on a partnership, contact CTC Associates at your earliest for the best and most reliable options.

Posted on Jul 25, 2022
Image Credit:

File ID 19954965 | © Luckydoor | Dreamstime.com

Share:

Archive

Apr 8, 2024, 6:28 PM
Depreciation elucidates the gradual decrease in the value of tangible assets over time due to wear and tear, obsolescence, or…
Mar 25, 2024, 12:05 PM
Running a successful dental practice involves not only providing excellent patient care but also assembling a strong team. As…
Mar 11, 2024, 9:07 PM
Buying or selling a dental practice is a significant decision that requires careful consideration and strategic planning.
Feb 26, 2024, 5:48 PM
Starting or managing a dental practice, whether a new venture or an established one, is like preparing for a significant…
Feb 12, 2024, 7:48 PM
Embarking on the journey of establishing your foothold in the dental industry comes with pivotal decisions. Among these,…