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Resource Library: Essentials
Everything you need to know to successfully run, buy, or sell a dental practice.
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The Essential Steps to Selling a Dental Practice
Selling your dental practice is a significant milestone in your professional career. Managed effectively, it can be a rewarding and beneficial experience for everyone involved. To ensure a smooth transition and a successful sale, it’s essential to follow a clear and structured process. 1. Start Planning Early Begin preparing for a sale three to five… -
Doctor, Don’t Sign the Office Lease!
As a practicing dentist with your own practice, more than likely, you have a lease on your office. Perhaps you even required your lawyer to scour it before signing. And maybe you’ve required concessions and allowances from the building owner. Or, if you are just starting out in your practice, you will have paid some… -
Busting Practice Transition Myths
Over the years, we have heard many myths regarding practice transitions that doctors mistakenly accept as facts. We feel that it’s our responsibility to dispel the following urban legends so you can make smart decisions when planning your practice transition. MYTH: The practice will lose 30% of the patient base immediately following the sale. FACT:… -
The 80/20 Rule & Sharpening Your Axe
In the late 1800s, economist Vilfredo Pareto determined that 80 percent of the land in Italy was owned by 20 percent of the population. Later, while gardening, he observed that 20 percent of the peapods in his garden yielded 80 percent of the peas harvested. Thus was born an unusual theory called “The Pareto Principle,”… -
Timing the Market
Why 2017 Might Be THE Year to Consider Selling Your Practice As practice transition specialists, we are often asked “Is now a good time to sell my dental practice?” While there are many factors involved in making the decision to transition your practice, the short answer is YES. The current practice transition environment features several… -
The Critical Steps in Selling a Dental Practice
The sale of a dental practice is one of the most important events in your professional career. If handled properly, it should be a rewarding and profitable transaction for all parties involved. To ensure a successful transition, it is important to follow these crucial steps: 1) Begin the planning process three to five years in… -
Making the Decision to Sell Your Practice
Making the decision to sell your dental practice is one of the most important decisions you will make in your professional life. Therefore, it is imperative that you put a great deal of thought into when and how you would like the transition of ownership to occur. Here are some of the key considerations you… -
Buyer Hot Buttons
Our preferred strategy to maximize practice value and reduce the stress and time required to sell a dental practice involves addressing common issues that buyers are focused on before the practice is placed on the market. In this article, we will review the practice attributes that today’s buyers are paying close attention to – their… -
“Drivers” Versus “Cruisers”
The search for fulfillment as a dental practice owner Doctors are natural-born achievers, very goal-oriented people. Pursuing these goals gives meaning to their lives, something to live for. As a goal-oriented person, you’ve probably spent much of your life focusing on certain professional goals. Early in your career, the responsibilities tied to these goals seem… -
Preparing Your Practice to Sell
Whether you are approaching retirement age or just thinking about a transition, there are several things you can do to prepare your practice to sell, eliminate headaches, increase your sales price, or reduce your costs. Here are a few tips: By focusing on these items in the coming years as you near retirement, you will…