You Can’t Buy Patients

One of the biggest mistakes I see dentists make is believing they’re buying a loyal patient base when they purchase a practice. In reality, you’re mostly buying goodwill, and goodwill is fragile. Patients are loyal to the previous dentist, the culture, and the relationships built over decades, not to you. I learned this the hard way after buying practices and watching patients slowly leave. That experience taught me a cold truth: patients choose people, not purchase agreements.

Most of What You’re Paying for Isn’t Real

When you buy a dental practice, the majority of the price isn’t equipment or supplies, it’s intangible goodwill. I’ve reviewed purchase agreements where hundreds of thousands of dollars went toward things like reputation, patient records, and non-compete clauses. The tangible assets often make up a surprisingly small portion of the deal. Financially speaking, you’re paying a premium for uncertainty, especially if the systems, team, and workflows don’t function independently of the selling dentist.

Build or Buy a System: Not a Job

The only time buying a practice truly makes sense is when you’re buying a system that runs without you. A real system allows me to focus on dentistry and high-level decision-making, not phones, payroll, marketing, or daily fires. That’s why I believe building your own practice is often the better path. You control the layout, equipment, culture, and systems from day one, and everything is built to support long-term growth instead of inheriting someone else’s problems.