Episode 681

Is A Second Practice A Wise Decision?

Host: Gary Takacs | Published Date: January 29, 2025 | Listening Time: 0:49:48

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Have you ever wondered if owning a second dental practice is the right choice for you? It sounds exciting—more patients, more growth, more success. But is it the right step for your future? 

In this episode, Gary Takacs and Naren talk about what it takes to expand your practice. They explain why it’s important to have your first practice running smoothly before adding another one. You’ll also learn why having a clear plan and strong systems is the key to success, whether you want to sustain and grow your current practice or expand to add a new one. 

Gary and Naren share real-life stories of dentists who grew their practices the right way—and others who ran into trouble because they weren’t prepared. They explain how to decide if expanding is the right move for you and what steps to take to make it a success. 

This episode is packed with simple tips and great advice. 

Listen now to find out if a second practice is your next big step!

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3 Practice Building Technologies Worth Considering

    Timestamps

    • 00:00:27 – Introduction
    • 00:00:47 – Announcements
    • 00:01:07 – Clinical Tip by Anna Middleton On “Some Essential Products to Use in Your Hygiene Department”

    CIA Segment

    • 00:03:20 – The Importance of a Clear Vision
    • 00:06:15 – Strong Systems and Leadership
    • 00:10:32 – Money Matters: Growing vs. Expanding
    • 00:17:23 – Mergers and Acquisitions
    • 00:25:00 – Challenges and Generational Wealth
    • 00:37:15 – Marketing and Branding Tips
    • 00:46:12 – Finding Practices to Buy
    • 00:47:39 – Final Thoughts

    Q&ASegment

    • 00:26:20 – Q1 – What are the most important criteria to evaluate when purchasing a second practice?
    • 00:33:59 – Q2 – Should each practice have separate websites or be branded under one website? **
      Book Your Free Session Now: ekwa.com/td
    • 00:39:23 – Q3 – Does my core practice need to achieve certain production/collection results before Considering a 2nd practice?
    • 00:46:15 – Q4 – What are some creative ways to identify potential practices worth purchasing?
      Also at end of episode

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    thrivingdentist.com/csm

    Resources

    Grow your practice with high-quality patients using high-quality marketing tools.

    More About EKWA Marketing!

    Thriving Dentist Coaching
    Learn how to create a thriving dental practice step by step by joining the Thriving Dentist Coaching sessions.

    More Information On Coaching!


    Gary Takacs

    Gary Takacs Gary became a successful practice owner by purchasing a fixer-upper practice and developing it into a world-class dental practice. He is passionate about sharing his hard-earned insights and experiences with dental practices across the globe.

    As a dental practice coach, Gary provides guidance for dental professionals on how to create a healthier practice style that lets them deliver excellent patient care while reducing depending on insurance.

    More importantly, Gary’s insights are not just based on theory – as a co-owner of a dental practice, he has first-hand experience in making this transformation from a high-volume and low-fee insurance model to a fee-for-service approach that is more sustainable and promotes a patient-centric and financially healthy dental practice, and he is dedicated to sharing this knowledge with other dental practitioners via the popular Thriving Dentist Show!
    Connect with Gary Takacs on Linkedin
    Podcast Assistance by Jodey Smith, Rodecaster Expert