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Shared Practices | Your Dental Roadmap to Practice Ownership | Custom Made for the New Dentist

A bootcamp in small business ownership and practice management for dentists, giving the new graduate a roadmap to successful practice ownership. We interview the best dentists, experts, consultants and more on our weekly show. Here's the topics we will be covering in our 8 Seasons: 1. First Years as a Dentist 2. Think Like a Business Owner 3. Money and Numbers 4. Startups, Acquisitions, and Partnerships 5. Internal Systems 6. Marketing & Growth 7. Leadership, Vision and Culture 8. Beyond Dentistry Go to SharedPractices.com to get our PDF roadmap of these 8 Seasons.
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Aug 25, 2017

Hunter is back! This week he takes us through two real practice purchase opportunities. We go in depth as Hunter explains his four-step practice evaluation process. We look at real numbers of two very different practices in order to determine a valuation range, find opportunities for practice growth and uncover red flags. This episode is full of great content and advice on practice analysis. We recommend you take these concepts and analyze as many practices as you can to hone your skills. Make sure to download the analysis spreadsheet on the Shared Practices resource page to aid you on your path to practice ownership.

 

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Download: Practice Valuation Case Study

Hunter Smith, DDS is a 28 year old General Dentist in Jonesboro, Arkansas. He completed his undergrad at Arkansas State University in his hometown area of Jonesboro, then attended the University of Tennessee Health Science Center Collage of Dentistry in Memphis.After graduating in May 2014, Dr. Smith bought his first dental practice in August 2014 following a 2 month stent as an associate in the practice.

After successful management and system changes increased that already successful first practice by 46% profitability in just 1 year, Dr. Smith grew to enjoy learning about the business of Practice Ownership and ways that can improve clinical, business, staff, and patient relations. Building upon the early success, Dr. Smith joined up with a long-time best friend and fellow dental school graduate, Will Little, to form Southern Dental Group in October of 2015. Since forming SDG, Drs Little and Smith have acquired an additional 5 locations in the last 18 months. Southern Dental Group's 6 locations boast increased profitability of over 50% post-acquisition, an average overhead of less than 50%, business profits (EBITDA) over 26%, and have revenues of over 5 million dollars annually.

Dr. Smith enjoys the opportunity to show and tell dentists, specifically young dentists, how to get into practice ownership early and be highly successful and profitable. He is proud to present the Dental Ownership Summit along with his business partner and co-founder of SDG Will Little in order to bring ownership knowledge and strategies from some of the best mentors and business minds in the industry.

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