Buying Your First Practice Without Getting Burned

Buying a dental practice can be the fastest path to building wealth—but it's also one of the biggest financial decisions you'll ever make. In Part 2 of the Practice Transition Series, Phil Cole breaks down the due diligence process every buyer needs to understand before signing a purchase agreement. Using a real-world cautionary story of a young dentist who overpaid for a struggling practice, Phil explains how hidden risks can derail an acquisition—and how the right preparation can prevent costly mistakes. From evaluating financials and patient data to reviewing leases, equipment, insurance contracts, and financing options, this episode provides a practical framework for buying the right practice at the right price.