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Ask Dave

Dentist Business

Teresa thinks her husband only has two options for starting a dentist practice. Dave thinks otherwise.

QUESTION: Teresa’s husband is a dentist who can either build his own practice or work for a company that would take 30% of his earnings. They have $250,000 in student loan debt and the startup cost would be an additional $500,000. Which should they do? Dave says there are plenty of other options.

ANSWER: Those aren’t the only two options. You can work in somebody else’s practice and work yourself into becoming the owner of the practice. The idea of going into debt to the tune of half a million dollars, while you’ve got $250,000 in student loans, is ridiculous. Are you hearing yourselves?!