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Enlighten Smiles Link: dwi.enlightensmiles.com

Strap in for a deep dive into the undulating journey of dental practice ownership as we unravel the intricate dynamics of entering and exiting dental businesses. We've got Andrew Acton from The Dentology - The Business of Dentistry Podcast, owner of Frank Taylor Associates, to shine a light on this oft-complicated process and share his nuggets of wisdom. Andrew is a seasoned dental broker, and his insights into the world of dentistry are worth their weight in gold.

We start the podcast by painting a detailed picture of a typical individual who buys into a dental practice, the evolution of their journey, and what an average exit looks like. Further, we demystify the financial implications of owning a dental practice. We discuss the initial financial step back you might have to take and the importance of calculating your true hourly wage. As the conversation progresses, we delve deeper into the relationship between a dental practice owner and the practice itself, which can often be overwhelming.

As we draw the curtain on our episode, we touch upon the significance of maintaining a work-life balance in the dental industry. We also discuss the risks of procrastinating, especially when it comes to decision-making, and the need for self-awareness when things are not going your way. We conclude by sharing some insights on selling a dental practice, including the timeline, keeping the practice in top shape, and potential tax benefits. Join us for this enlightening discussion and gain a fresh perspective on the world of dental practice ownership.