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Buying an existing practice, becoming a partner, or starting your practice in new premises?

Becoming the owner of a practice is a complex process. Here are some points to consider before taking the plunge.

Practical vision

What are your professional goals? What are your preferences in terms of a dental practice? Do you want to practice alone or with partners? Do you want to work as a general dental practitioner or include specialty procedures? Do you want to practice in the city, in the suburbs, or in a rural area? These questions call for careful consideration. This exercise is crucial, as the answers will determine how you will proceed.

Professional realities
As a sole proprietor or a future partner, you will have to:

  • Find a partner or a replacement in case of sick leave, maternity or paternity leave, or other absence
  • Hire administrative staff, hygienists, etc.
  • Assess your insurance needs

Your personal life
Your professional choices will have an impact on your family life and your personal goals: having children, buying a home, etc. So it’s essential to consider these aspects.

Buying your dental practice

You have found THE perfect practice. You can obtain:

  • a clientele (active patient files)
  • furniture and equipment
  • a building and other assets
  • or the seller’s shares

Examine the purchase offer
Should you buy the seller’s shares or the assets of the practice? Do the terms of sale suit you? Does the appraisal reflect the actual value of the practice? Is the selling price fair? If you are incorporated, who should buy? The tax consequences vary according to the type of transaction and your status (incorporated or not). A thorough analysis is a must. A financial advisor can help you make sense of it all and assess financing options.

Money matters

What is your current financial situation? Obtaining credit to buy a dental practice requires personal financial statements showing your income, your expenses, your savings and your debts. Over and above numbers, many other factors must also be taken into consideration.

Make your plans
A balance sheet and cash flow statement are helpful tools for professionals which can be used to:

  • Assess your borrowing capacity and your ability to pay back a mortgage loan, or determine if a lease is the best option
  • Establish the operating budget plan for your office (projections)
  • Identify the best tax structure (incorporation, your professional income, etc.)
  • Plan your personal budget and savings
  • Determine the work pace required to meet your obligations

Offer accepted!
You had in hand all of the seller’s documents, did all the due diligence, obtained your financing, and your offer (or counter-offer) was accepted. If all the conditions are satisfied, you can go ahead with the transaction.


Other steps must be completed before officially becoming the owner of your practice. The transaction must be organized and finalized.

At the finish line
With the draft contract in hand, you’re almost there! Before signing, you must:

  • Obtain your registration numbers: NEQ, GST/QST, etc.
  • Apply to the RAMQ, Dentaide (terminals)
  • Have insurance: property & casualty, life, disability
  • Plan the transition and set up the accounting
  • Prepare the legal closing documents

You must also be sure to notify the Ordre des dentistes du Québec of the transaction and comply with the regulation governing dental offices and records: Règlement sur la tenue des cabinets (sections 23, 24 or 27).

Be informed

Make things easier for yourself
To become owner of your dental office, you should leave nothing to chance. It’s a rigorous and demanding process for one person to handle. You should have people to assist you and advise you.

The Financial gives you access to all the resources you need to help you make the right choices.

Professionals you can trust
For more detailed answers and a thorough analysis of your situation, place your trust in one of our advisors.

Contact us