The Unicorn Practice Myth

 I see the same pattern over and over again.

A young dentist reaches out about a practice that’s actually pretty damn good on paper — solid patient base, steady collections, loyal staff, and real room to grow. But then the hesitation kicks in.

“It’s not quite what I’m looking for.”

What they really mean is they’re holding out for the unicorn.  You know the one I’m talking about: $1.5 million in collections, 50% overhead, six or eight shiny operatories, fully digital, brand-new equipment, gorgeous décor, three minutes from Starbucks, five from Whole Foods… and somehow priced like a steal.  I wrote that description as a joke years ago. These days it doesn’t feel like much of a joke. A lot of young dentists are genuinely waiting for something close to that.  And while they wait, they let good opportunities slip right by.

Here’s the thing most young docs don’t want to hear: the best practices rarely start out as unicorns. They become unicorns.  The ones that end up creating real wealth, freedom, and satisfaction are usually the ones that need work — better systems, more procedures, stronger marketing, actual leadership, and a clear vision.  In other words, they need an owner. Not just another dentist showing up to drill and fill.

A big reason this happens is what young dentists experience right out of school. They join a corporate group, get decent pay, steady hours, and limited headaches. It feels safe.  Then they look at buying a practice and suddenly the numbers don’t look as nice — at least not in year one. So they stay put.  They’re comparing a comfortable paycheck to building an actual asset. That’s a dangerous trap.

Owning a practice isn’t just about this year’s income. It’s about equity you build, control over your own schedule and decisions, tax advantages, and creating something with real value you can eventually sell.  I’ve owned several practices. I’ve made plenty of mistakes and learned the hard way. But one thing I know for sure: the dentists who win in the long run aren’t the ones who waited for perfection. They’re the ones who saw potential and rolled up their sleeves.

Corporate groups are all over dental schools now in a way they never were before. They’re smart about it — they get in front of students early and repeat the same message:

Ownership is risky.

Ownership is stressful.

Ownership is uncertain.

Come work for us instead. It’s safer.

Look, ownership does come with risk. But so does handing over control of your career, your income, your schedule, and how you practice dentistry. The risk just looks different when someone else is calling the shots.

When I talk to young dentists now, I don’t push a specific practice. I ask them this instead:  Do you want to build something… or just work in something someone else already built?  Those are two completely different paths. One takes vision and grit. The other just takes showing up on time.  Each choice comes with it’s own set of consequences.

Final Thought

If you’re a young dentist waiting for that perfect practice, here’s the truth: it probably doesn’t exist.  But the right opportunity — one with good bones and room to grow — can turn into exactly what you want. You just have to be willing to build it.  In my experience, the dentists who do that don’t just end up with better practices. They end up with better lives.