Buy or Build: Navigating Dental Practice Ownership with Dr. Dan Hoang and Dr. Mark Gilstrap
We've got a longer episode of Justin and Jon Talk Dentistry today, but trust us—it’s worth every minute! We dive into the debate of whether to buy or start a practice, exploring all things dental startups with special guests Dr. Dan Hoang and Dr. Mark Gilstrap. Dr. Dan started a practice from scratch, while Dr. Mark purchased an existing practice.
The discussion spans from starting a practice from scratch versus acquiring an existing one, to the intricacies of location selection, negotiation with vendors, and balancing financial stability. The episode also highlights personal stories of overcoming challenges in both pediatric and general dentistry, the critical role of community engagement, and the importance of family support in practice ownership decisions.
Chapters:
- (00:00) - Introduction and Today's Topic
- (00:46) - Meet Dr. Mark
- (02:26) - Meet Dr. Dan
- (03:48) - Dr. Dan's Journey to Starting a Practice
- (11:51) - Challenges of Starting a Practice
- (18:38) - Dr. Mark's Acquisition Story
- (26:14) - Building a Patient Base
- (32:57) - Challenges of Being the New Face
- (38:13) - Setting Yourself Apart Early
- (41:30) - Explaining Your Vision and Practice Style
- (45:45) - The Role of Mentorship
- (58:10) - Balancing Professional and Personal Life
- (01:00:48) - Final Thoughts and Recommendations
Creators and Guests
Host
Justin Clements
Justin currently serves as the Chief Strategy Officer for Ascend Dental Alliance. Prior to Ascend Justin worked with large private equity backed Dental Service Organizations such as Tru Family Dental, Great Expressions Dental Centers and Aspen Dental.
