Owning Your Practice: The Bridge to Financial Freedom
Saturday, April 5
2 - 5 PM
3 CDE Credits – DDS
COURSE DESCRIPTION:
All too often, the decision over if and when to own a dental practice becomes an emotional journey rather than a business decision, with massive school debt often obscuring the big picture. This session offers attendees the ability to expand one’s lens to fix their focus on long-term success, with the full disclosure of both the benefits and obstacles of owning a dental practice.
Taken from more than 35 years of experience advising dentists, this course provides dental practitioners, associates and residents a realistic view of practice ownership versus working as an employee. We will weigh the risks, consider debt and evaluate each option associated with opening a new practice, entering a partnership, buying an existing practice or working as a partner in a corporate dentistry environment.
During this lecture, attendees will understand what they need to accomplish before starting a new practice or finding an existing opportunity. It will provide details on the key elements to study before purchasing a practice: location, patient mix, type of transition, price, age of equipment, building for sale/lease, senior doctor working back, etc. This lecture illuminates the path a new dentist should take to achieve long-term personal and financial success.
Course Objectives:
1. Discover the financial benefits of ownership versus associateship.
2. Determine how to secure a loan with high student loan debt.
3. Understand the risks and benefits of purchasing an existing practice versus a start-up.
4. Prepare themselves for purchasing or starting a new practice.
PRESENTER:
Charles Loretto
Charles Loretto joined Cain Watters & Associates (CWA) in 2001 and became partner in 2016. He plays a critical role in growing the firm’s client base as the director of business development, marketing and new client services. He travels the country speaking at dental schools and residency programs, study clubs, dental symposiums and state and national dental meetings on strategies to reach financial freedom. Since 2004, Charles has presented to more than 30,000 dentists and more than 50 dental schools. He is a published author and host of the top-ranked dental podcast, Transition Talk.
Loretto founded CWA's affiliate company, National Dental Placements, which assists doctors in buying, transitioning and valuing their dental practice. He and his team help hundreds of dental professionals with their transition goals annually. He also facilitates and presents a robust business curriculum at Texas Tech El Paso Dental School, where his mission is to prepare dental students for success in the business side of dentistry upon graduation. Using his insight and experience for more than two decades in the dental industry, his passion is helping diagnose the financial support dentists need and then connecting them with someone who will help them achieve their financial goals.
