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E70: Why Cash is King When Starting Your House-Call Practice
Manage episode 435515310 series 3373168
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This week I wanted to address why starting a dental house-call practice doesn't have to lead to a mountain of debt. While traditional brick-and-mortar practices can cost upwards of half a million dollars, a dental house-call practice can be launched for as little as $30,000. Opting for cost-effective equipment and making savvy choices, like sterilizing at a friend's practice initially, can significantly reduce startup costs. This low-budget approach provides the flexibility to invest more as you grow your practice, avoiding the looming burden of servicing massive loans.
The key to a debt-free start is discipline! Much like dieting, saving cash requires spending less than you make, just as losing weight requires consuming fewer calories than you burn. This process may not be easy, but it is straightforward. Building your practice with cash rather than financing ensures you won't be working just to keep up with loan payments. Instead, you'll have the freedom to adjust your schedule as needed and truly enjoy your work, all while providing your patients with excellent care free from financial pressures.
It's essential to remember that living debt-free isn't about luxury; it's about security and freedom. Saying no to unnecessary spending allows you to save for significant purchases, providing peace of mind and the ability to make choices without financial strain. Starting your dental house-call practice with cash not only sets a solid financial foundation but also allows you to work without desperation, making your professional life more fulfilling. For support and advice on beginning your journey, reach out at hello@residentialmovement.com. Thank you for joining me on this path to financial freedom and professional satisfaction.
Open Enrollment For Dental House Call Practice Academy
Visit me at: ResiDENTAL Movement Website
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