The insider's guide to buying your first dental practice

By Tom Coates

There is a moment, and most dentists remember exactly when it happened for them, when the idea of owning your own practice stops being a vague ambition and becomes a real, urgent goal. Perhaps you've outgrown your associate role. Perhaps you've spotted the right opportunity. Perhaps you're simply ready.

Whatever has brought you to this point, I want you to know something: with the right preparation and the right people around you, buying your first practice is absolutely achievable. And it can be the most exciting and rewarding step of your career.

I've helped hundreds of dentists make this transition. What follows is the honest, practical guidance I give every first-time buyer who walks through our door.

Start with clarity on what you're actually looking for

Before you approach any brokers or start looking through listings, really get clear on what you want. Location, practice size, NHS versus private mix, number of surgeries, patient demographics, associate structure - these all matter enormously, and without a clear picture of what you want, you risk falling in love with the wrong opportunity simply because it's available.

The buyers who navigate this process most successfully are those who do their thinking before the search, not during it. Know your non-negotiables. Know what you're prepared to be flexible on. And be honest with yourself about what kind of principal you want to be, because that should shape the kind of practice you're looking for.

Understand what you're really buying

A dental practice is not simply a business with a list of patients attached. You are buying a combination of assets, and each one deserves careful scrutiny.

The goodwill is the big one. Is it genuinely transferable, or is it built on the personal relationships of a principal who is about to leave? A well-run practice with strong systems, an active recall programme, and a stable associate team carries far more transferable value than one that revolves entirely around a single personality.

If the practice holds an NHS contract, that contract is often the most valuable asset of all - and one of the most complex. Understanding the UDA target, the contract value, the historic performance, and the assignment process is essential before you commit to anything. NHS England and the commissioner must approve the transfer, and this is not a formality. It takes time, it requires careful management, and it needs specialist legal input from the outset.

The property is the third major consideration. Are you buying the freehold or taking on a lease? If it's a lease, what are the terms? Are there break clauses, rent review mechanisms, or dilapidations obligations that could create problems down the line? These details matter far more than many first-time buyers realise.

Due diligence is your best friend

I know due diligence doesn't sound glamorous. But it is genuinely the process that separates buyers who thrive from those who struggle. Done properly, it gives you a clear, honest picture of exactly what you're buying. In essence, the opportunities and the risks.

Work with an accountant who understands dental practice finances. They will interrogate the last three years of accounts, examine the fee income split, assess the associate costs, and help you understand whether the asking price is genuinely justified. They will also help you stress-test your cash flow assumptions for the first twelve months - a period that is almost always tighter than first-time buyers expect.

On the legal side, we will be examining the contract documentation, the property title, the employment contracts, the associate agreements, and the regulatory position - including CQC registration, which requires its own careful management and should be started as early in the process as possible.

Due diligence is not about finding reasons to walk away. It's about going in with your eyes fully open.

Build the right team around you

This is the piece of advice I give most emphatically, because it makes the greatest difference. You need a specialist dental accountant, a specialist dental solicitor, and a finance broker who understands the dental sector. General advisors, however talented, simply don't carry the sector-specific knowledge to protect you properly through a transaction this complex.

The dental world has its own language, its own regulatory framework, and its own deal structures. The people advising you need to speak that language fluently. When your solicitor has seen a hundred NHS contract assignments, they know where the pressure points are. When your accountant has valued dozens of dental practices, they know when a number doesn't add up. That experience is invaluable, and it pays for itself many times over.

Plan the transition, not just the purchase

Completion day is not the finish line. It's the starting gun. The most successful first-time buyers think carefully about what happens in the weeks and months after they take ownership - how they will introduce themselves to the patient base, how they will retain key staff, how they will manage the change in leadership for associates, and how they will establish their own presence and identity within the practice.

A well-managed transition protects the goodwill you've paid for. A poorly managed one erodes it surprisingly quickly.

A Final Word

Buying your first practice is a significant undertaking, but it is one that thousands of dentists have navigated successfully, and one that I genuinely love helping people through. The combination of commercial complexity, regulatory nuance, and personal significance makes it unlike almost any other transaction - and getting it right is enormously satisfying for everyone involved.

If you're at the beginning of this journey, please don't hesitate to reach out. An early conversation costs nothing and can set you on entirely the right path.

If you're thinking about buying a dental practice and are looking to move forward with confidence, why not get in touch for a no-obligation chat? Contact us on info@buxtoncoates.com, or call 0330 088 2275