Buy or Build: Navigating Dental Practice Ownership with Dr. Dan Hoang and Dr. Mark Gilstrap

10/21/24 • 62 min

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

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

Previous Episode

Building Brands in Dentistry with Dr. Brad Hughes

In this episode of Justin and John Talk Dentistry, Justin and John welcome Dr. Brad Hughes, founder and CEO of Vision Dental Partners. They discuss the nuances of working across multiple dental practice locations and the significance of innovative branding beyond traditional marketing methods. This conversation explores the evolving landscape of dental marketing, the role of social media, and the vital need to create authentic connections with patients. A must-listen for those looking to understand modern branding strategies in dentistry.

Chapters: