Once you’ve graduated from dental school, there are a number of ways to pursue a career in dentistry. Let’s take a look at career path options and what you'll want to think about when considering a mentorship-to-ownership career path.
Some students choose to continue their education in a specialty path, selecting one of the many available residency programs, while some students head straight into practice as an associate dentist.
However, there are those with an entrepreneurial spirit. If owning a dental practice appeals to you, you may choose to accumulate more experience before going down the path of entrepreneurship.
Many graduates choose to pursue a mentorship-to-ownership career path. This typically involves a new dentist who would work under the supervision of a more experienced dentist throughout their career, with the end goal of becoming a partial owner or taking over the practice entirely.
Mentorship-to-ownership can happen in two ways.
It often starts out as a standard associate position, but the relationship differs since there’s a larger emphasis on the mentorship, rather than just working in the same practice. Over time, this path may open opportunities for growth into an ownership role instead of an individual simply “buying into” the existing practice.
Occasionally, a graduating student who knows they want to own a dental practice may enter into a more formal agreement with an existing practice owner, usually a dentist nearing retirement.
While dental school provides you with a significant amount of knowledge, it's not possible to learn absolutely everything about the field. A mentorship with a seasoned dentist can help fill in any gaps and provide you with the skills you need to develop your career.
As you continue to develop clinical experience, you’ll also gain insight into the business side of owning a dental practice. You’ll be exposed to and involved in decisions regarding office management, finance, staff management, marketing, and more. Over time, the trust built through this mentorship helps develop confidence to prepare you for the demands of becoming a practice owner.
For the experienced dentist, bringing on a newer dentist to mentor can give them options as they get closer to retirement. For example, they may be thinking about selling their practice so they can retire. The mentee can be a great candidate for succession.
A mentorship-to-ownership pathway requires clarity, communication, and commitment from both parties. Typically, this type of arrangement lasts several years, with the mentee taking on more responsibility, having increasing input into practice management, and eventually becoming a partner in the practice or purchasing the practice outright.
Throughout this process, it’s important to understand the financial implications. Becoming an owner often requires substantial investment, so it’s crucial to assess your financial readiness.
To make the most of the opportunity and avoid misunderstandings, it’s helpful to outline expectations early, document key terms, and revisit the agreement as the relationship evolves. Here's what to keep in mind:
If you're considering a mentorship-to-ownership career path, here are some questions to ask yourself:
If the answer to any of the questions above is "yes," a mentorship-to-ownership arrangement could be a suitable path for you.
Life after graduating dental school can feel daunting — you're used to a routine of classes, exams, and training. Suddenly, after graduation, you have the freedom to actually work in your field.
Treloar & Heisel’s Post-Dental School Survival Guide contains valuable information about making decisions for your career path, key concepts concerning financial and career success, and how to protect your most valuable assets for the future.
Treloar & Heisel, an EPIC Company, is a premier financial services provider to dental and medical professionals across the country. We assist thousands of clients from residency to practice and through retirement with a comprehensive suite of financial services, custom-tailored advice, and a strong national network focused on delivering the highest level of service.
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