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?
I would be leery of any business deal where you are not in control of your own expenses...See more and revenue. Also, consider how this may be viewed from the IRS's standpoint as to whether you are am employee or an independent contractor. Especially with respect to the dentist owning all equipment and materials. This could get both of you in trouble tax wise if it is not set up properly at the onset. I would certainly seek professional guidance before doing anything.
One-on-one interaction is a higher priority than ever before now that the economy has exacerbated the price-cutting phenomenon, according to LMT’s 2012 Fee Survey. To enhance customer relationships, respondents are offering more client education, joining study clubs and finding opportunities just to get more "face time" with their dentists.
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