CDA Oasis Conversations: Which alternative is best: to buy or open a practice?
David Chong Yen, from DCY Professional Corporation of Chartered Accountants, comes back to talk with Dr. Suham Alexander about the suitability of one of two alternatives: buy or open a dental practice.
At some point in their career, most dentists make the decision to own and operate their own practice. However, sometimes, the bigger decision lies in whether they should buy an existing dental practice or open a practice from scratch.
In this video, David Chong Yen, DCY Professional Corporation Chartered Accountants, discusses three different scenarios and the rationale behind each dentist’s choice.
The basic decision-making framework involves evaluating your own personal circumstances
- Current cash flow needs to support yourself, dependents
- Debt load
- Net worth (what you own – what you owe)
Watch the video interview