A Lab / Dental Office Partnership?
James Cutshaw · Jan 3, 2013 at 5:05pm
Question
A dentist-friend has asked me to open a dental lab in her practice. She will be providing the material and equipment and I will be able to get outside clients. What percentage of my revenue do I give her? Do I do her work for free?
Answered By
James Cutshaw
President at Cutshaw Dental Lab, Inc. · Knoxville, TN
Build it and they will come! "Field of Dreams"
Daniel Snyder
This is a great way to lose a friend and an account if you don't keep everything separate. What if you use supplies they purchased on another case, how much does a cup of plaster cost? Who controls your time? Plus, other doctors don't want another DDS...[More] looking at their work. Either be their employee or have your own business.
Patti Glendinning
http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Independent-Contractor-%28Self-Employed%29-or-Employee%3F I would be leery of any business deal where you are not in control of your own expenses and revenue. Also, consider how this may...[More] be viewed from the IRS's standpoint as to whether...
Jesse Flor
There is a danger and a benefit to this situation because its a friend whos offering this opportunity. The most common problem I have seen as a consultant is the Dr requiring more attention than you initially expect. I would make sure you have a contract...[More] - Ideally one where you define it as a lease of...
Show More