• 005 - Travis, Can I…Renovate My Dental Practice?

  • Feb 14 2025
  • Length: 21 mins
  • Podcast

005 - Travis, Can I…Renovate My Dental Practice?

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  • Summary

  • In this episode of Travis, Can I Have This?, we explore whether renovating your dental practice is the right move. If you’re tired of outdated decor or believe a renovation will bring in more patients, this episode is for you. Travis breaks down key financial considerations before committing to a remodel.


    Key Takeaways:

    • Know Your Why: Are you renovating for aesthetics or functionality? Patient perception may not change as much as you think.
    • Financial Impact: Unless adding operatories, a renovation won't bring an immediate ROI. Debt from renovations will reduce your take-home pay.
    • Two Approaches: A gradual approach allows for small, cash-paid upgrades, while a big bang approach requires financing but delivers a full transformation.
    • Debt-to-Income Ratio Matters: Keep debt below 80% of revenue and ensure strong cash flow before committing.
    • Best Use of Funds: Prioritize revenue growth over aesthetics to strengthen long-term financial health.

    Renovations can be beneficial but should be strategically timed to avoid financial strain.


    CONTINUE THE CONVERSATION

    https://www.youtube.com/watch?v=dPRYzJelNr4

    LET’S CONNECT

    Instagram: https://www.instagram.com/travisslade.cpa/

    TikTok: https://www.tiktok.com/@travis.slade.cpa
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