Dental Graduate Career Options: Build, Buy, or Associate
Career Options for New Dental Grads: To Build, to Buy, or Associate?
As a new dentist and recent graduate, making that first career move isn’t always the easiest decision. You’re trying to migrate into private practice, find a great clinical mentor, while learning the business and honing your skills at the same time.
What are My Options, Post-Graduation?
You’re likely facing that new graduate dilemma: deciding whether you should build a dental practice from scratch, or purchase an existing one. Unfortunately, neither option provides the exposure and necessary mentorship for new dental graduates to perfect their clinical skills and chairside manner.
Additionally, student indebtedness is higher than ever before, creating a barrier for most new graduates who are looking to enter dentistry with early practice ownership.
Option 1: Building a Dental Practice
This is an uphill battle with numerous moving parts. You’ll have to find a practice location, secure financing (acquiring more debt!), negotiate the office lease agreement with your landlord, design and build out your space, purchase equipment and supplies, interview and hire staff, develop and implement a marketing strategy, and build your patient base. Most new graduates lack the necessary clinical experience and chairside manner essential to grow and sustain a new patient base. Feeling overwhelmed? Let’s explore option 2.
Option 2: Buying a Dental Practice
On the flip side of a startup, you could purchase an existing practice; a feat that comes with its own challenges. Not to mention, over the last 15 years, the cost to acquire a practice has gone up dramatically.
Whether you decide to start or purchase a dental practice out of school, both options demand polished chairside manner, expert clinical skills, and superior business acumen. Are you ready to fill your schedule with patients, and balance the administrative and financial burdens that come with running a dental practice? Historically, new grads are not ready for either option for at least 3-5 years post-graduation. Don’t fret, there’s now a third option.
Option 3: Associate at a Group Practice or Dental Service Organization (DSO)
Joining a dental industry partner like Canadian Dental Services will bring you closer to meeting both your personal and professional goals. You’ll have the opportunity to associate in a challenging and supportive working environment, alongside top, respected, credentialed clinicians. You’ll be exposed to ongoing mentorship, and receive developmental support and training by top dental practitioners across Canada.
What are the Key Benefits to Joining CDS’ Associate Development Program?
- Connect with dental industry mentors that will have a meaningful and positive impact on your career development.
- Spend your time learning, rather than managing the nuisances that come with running a practice.
- Generous and competitive remuneration to pay off student loans.
- Experience job security right out of the gate.
- Experience flexible work hours to achieve a positive work/life balance.
Every year, more and more dental associates are choosing to work rather than own or start a practice. If you want to learn more about joining Canadian Dental Services and our Associate Development Program, give us a call.