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Waiting until you "feel ready" to own a dental practice could be one of the most expensive decisions of your career.
In this episode of the Raving Patients Podcast, Dr. Len Tau sits down with Brian Hanks, founder of Dental Buyer Advocates and author of How to Buy a Dental Practice, to talk about why younger dentists are waiting longer to become practice owners and what that delay could really cost them. Brian shares the numbers behind associate versus owner earnings, why student loan debt shouldn't automatically keep dentists from ownership, and what the data actually says about the growth of DSOs.
Brian also breaks down how to evaluate a dental practice before buying, including the two simple questions every potential buyer should ask. He explains why a cheaper practice isn't necessarily a better opportunity, how practice valuations work, and why paying above the national average can still be a smart investment. Plus, he shares what dentists who can't seem to find the "right" practice may be overlooking.
What You'll Learn-
Why younger dentists are waiting longer to become practice owners
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How delaying ownership can affect your long-term earning potential
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Why student loan debt doesn't necessarily mean you should avoid ownership
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What the data says about DSOs and the future of private dental practices
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Why ownership gives dentists more control over their careers
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The two questions to ask before seriously considering a dental practice
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Why buying a small practice with plans to "turn it around" can be risky
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How dental practices are valued based on collections and profitability
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Why paying above the average valuation doesn't necessarily mean you're overpaying
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How relationships can help you uncover better practice acquisition opportunities
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Why dentists should be intentional about who they listen to for career advice
Key Takeaways
02:04 The Associate Trap: Why Waiting Too Long to Own Can Cost Dentists a Fortune
02:47 Meet Brian Hanks
03:17 Helping Dentists Become Practice Owners
04:35 Dr. Len's Journey From Associate to Owner
06:09 Why Younger Dentists Are Delaying Ownership
09:30 The Million-Dollar Cost of Waiting
12:35 Associate Comfort vs. Practice Ownership
13:15 Are DSOs Really Taking Over Dentistry?
17:25 What to Look for When Buying a Dental Practice
17:55 Two Questions Every Practice Buyer Should Ask
23:48 How Dental Practices Are Valued
27:20 When Paying More for a Practice Makes Sense
28:40 Why You Haven't Found the Right Practice Yet
32:50 Brian's Advice for Associate Dentists
33:55 Lightning Round
38:55 How to Connect With Brian Hanks
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Connect With Brian
Website: Dental Buyer Advocates
Email: brian@dentalbuyeradvocates.com
Book: How to Buy a Dental Practice
Brian is also offering Raving Patients Podcast listeners a free 30-minute practice evaluation for dentists who are currently considering a practice purchase.
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Learn proven dental marketing strategies and online reputation management techniques at DrLenTau.com.
This podcast is sponsored by Dental Intelligence. Learn more here.
This podcast is sponsored by CallRail, call tracking & lead conversion software for dentists. Find out more here.
Raving Patients Podcast is your go-to place for the latest and best dental marketing strategies that will help you skyrocket your practice. Follow us for more!
