It is so easy right now to be tired of wearing all the PPE equipment all day, dealing with staff members needing to be out to take care of their children who are still home and not in school, worrying about elderly relatives who need to be protected from Covid-19, figuring out how to get forgiveness for the PPP money you received months ago and a host of other things. However, there is an opportunity right now that you should not let pass you by.
Many dentists in their late 60s or early 70s who are still practicing dentistry are considering giving up their practices. The advertisements for dental practices that are for sale have doubled. There may be practices at a short distance from your office that might be available to acquire and merge into your practice. The older dentist might be thrilled to come to work for you for a while instead of trying to manage their own practices.
Take some time to give these older dentists a call and perhaps meet them for lunch or dinner, just to develop your relationship. Then you could mention the possibility of them joining you in your practice, or just selling their practice to you. It might be something they did not even consider.
This is a great way to grow your practice. The sale price could be based on the production that comes from these patients, or from the number of patients who become patients of your practice. There are lots of ways that this could be affordable.
Don’t wait! Take some action now!