Hiring an associate who will eventually buy the practice can be an appealing succession plan. It works best when the arrangement meets the needs of both the current owner and the prospective successor.
Recognize that career paths have changed
The traditional route from a part-time associate position to practice ownership is not the only path available to a dentist. Some prioritize immediate income, while others want ownership sooner or prefer an employed role.
An owner planning succession should understand what the intended role offers from the associate’s perspective. A promising practice may still be a poor match for the associate’s goals or timetable.
Understand income and financing needs
Educational debt and other obligations can influence the income a dentist needs from an associate position. A limited schedule or uncertain path to ownership may be less attractive than the seller expects.
Access to practice purchase financing may also affect the decision. Some prospective buyers may prefer to explore ownership directly rather than wait through a prolonged associate period. Individual circumstances and lending terms vary.
Consider what a future owner values
Prospective successors may consider location, facilities, technology, clinical philosophy, and lifestyle alongside practice profitability. Discuss those priorities rather than assuming financial performance will answer every question.
The opportunity should communicate a credible future: the intended timeline, the responsibilities involved, and how the two dentists would evaluate their compatibility.
Build a realistic succession plan
An associate-led transition can still work, but it may take time to find someone whose goals align with yours. Examine whether the position and proposed purchase timeline are practical for the people you hope to attract.
Begin planning early, keep expectations realistic, and remain open to other ways of finding a suitable buyer. The purpose is a successful transition, with a successor who can build on the trust your practice has earned.