A short excerpt from a Practice CFO discussion where Brandon Hobson explains that dental and privately owned medical practices (e.g., dentists, plastic surgeons, veterinarians) are relatively recession‑proof. He argues recessions can be opportunities for those practices to deploy growing exportable buying power to acquire assets at discounts, especially as other industries' demand falls.
With the industry that we operate within, which is the dental space or privately owned medical practice space, which could be plastic surgeons, it could be veterinarians, but for the predominantly, it's our dental, our dentists, and our dental clients who are by and large pretty recession proof. Now, of course, some cosmetic side of the business may take slight tapers off, but point being is that whenever we're facing a recession and you're in a risk, more or less a recession proofed industry, you should welcome that. Because what is happening while the entire rest of the economy's buying power is going down, yours is export exponentially growing. And your ability to take that buying power and take advantage of the downturn in the market and buy assets at a discount, that's a pretty cool place to be.
