We bought our first practice, FlossNYC, in 2014. But really, the process started much earlier. We always knew we wanted to own our own practice, but how to get there was the big question mark. We asked friends and family, dentists I had worked for, and other medical practice owners. Although encouraging, the advice was not really helpful. We didn't know how to get started and we didn't even know if we were READY for Practice Ownership.
So while dental school trained me to be a good clinician, it definitely didn't equip me for the business of dentistry. Once we realized that we were going to have to take a leap of faith, Moki and I both started doing online research and talking to brokers and accountants to try to piece the puzzle together.
We made tons of mistakes because the process is unnecessarily complicated, opaque, and not-at-all friendly to first-time buyers. Brokers aren't looking out for your best interests, sellers manipulate the financials to make their practices look better than they really are, and on top of that, you have to borrow a soul-destroying amount of money to achieve your dream (unless you're independently wealthy.)
The result is a slow eroding of your confidence and a healthy buildup of second guessing, sleepless nights, and stressful days. Not ideal when you're trying to make a big career move.
But we pushed through - getting outbid on one practice, having our dream practice poached from us, almost losing a lease, getting sued and plenty more. We were battered and bruised but miraculously emerged on the other side with keys to our shiny new office.
Fast forward three years and FlossNYC is flourishing. We’ve really hit a groove managing our staff and patients. And after going through the process and seeing the benefits, we TRULY believe that if you’re NOT running your own practice, you’re working WAY too hard for too LITTLE compensation. And that's even more true for dentists who say they make plenty.
While this sounds like the typical story of a successful business, we hated the process and knew there had to be a better way. The information is all out there, but we would have loved to have it all in one place. Moki has deep experience in online education, so we decided to bridge our professional worlds and put together a course that walks other aspiring dentists through the process so they don't have to go through all the headaches and hurdles that we did.
We call it Practice Blueprint and it's the most comprehensive roadmap out there to get you from where you are today to Practice Ownership.
Ragini & Moki