Dental Practice Transition Solutions
Want to sell your Dental Practice? I help empower dentist navigate selling with confidence. Whether you are looking to sell to a private buyer or a DSO, lets make sure the transition process is informed and painless. By working with the best national dental brokers in the country, I leverage the best offers for you and your practice.
Selling Your Practice Starts with the Process
We first need to gain insight into your practice.
Measurable Data
- Financial Reports
- Patient Data & Statistics
- Primary Dentist Earnings
- Breakdown of Procedures
Material
- Chairs-Units-Lights
- Practice Status – Up to date
- Location- Retail vs. Office Space
Mental
- Ideal Exit Strategy
- Financial Status
- Practice Loyalty
- Ideal Transition
Develop Prospectus: Gives us insight into the value of your practice.
Helps determine potential transition pathways
Tailor Transition Strategies to Fit Your Specific Needs: Common Options
Buy-Out
This process entails a designated buyer acquiring a predetermined segment of your dental practice starting from Day One, at a mutually agreed-upon valuation. Perform comprehensive practice evaluations and personality assessments to guarantee alignment and compatibility between the buyer and the practice.
Buy-In
In this scenario, a buyer acquires your dental practice at a negotiated price, with a transition period generally lasting approximately three months. In an associate transition, this phased approach facilitates a thorough compatibility assessment and provides time for strategic planning regarding the future of the dental practice, rather than necessitating immediate decisions. Key considerations in this process include the division of authority and decision-making power.
Associateship
Associates are readily available, and this option enables you to maintain full control of your practice. However, it is important to acknowledge that the success rate for this approach is approximately 20%, primarily due to differing expectations between parties. We can assist in addressing and aligning these expectations to improve the likelihood of a successful outcome.
Merger
Two established dental practices consolidate to create a single entity, typically with an equal partnership structure unless otherwise agreed upon.
Roll Up
This approach involves acquiring several dental practices and consolidating them into a single entity, thereby maximizing economies of scale. Although this process can be time-intensive, it frequently results in a higher overall valuation for the practice, making it one of the most financially advantageous transition strategies, given the requisite time investment.
Whether you’re looking to sell your dental practice, find a partner, or acquire a new practice
Ultimately, there are numerous transition strategies to consider, each tailored to your unique situation.
Trust us to navigate your journey with confidence and success.
How can I assist
I’m here to help you with your dental transition process.
Frequently Asked Questions
Should I sell my practice or not?
Navigating the sale of your dental practice involves multiple considerations, but one undeniable fact is that every practice owner should plan for a future sale. With strategic planning and expert guidance, many can secure a lucrative return on their lifetime investment. Conversely, failing to address this opportunity due to fear or misinformation can result in receiving far less than the practice’s true value. Don’t rely solely on the sale to fund your retirement, but ensure you maximize the value of this significant asset.
When is the right time to consider selling my practice?
As dentists and doctors age, their needs and circumstances evolve, impacting their capabilities and energy levels. Factors like disability, divorce, IRS judgments, or burnout can prompt a sale, but addressing these issues can complicate and diminish potential revenue. To achieve optimal results, plan your practice sale well in advance, ensuring you retain control and maximize value. Delaying this planning reduces your influence over the sale process when it inevitably becomes necessary.
Why can’t I wait a few more years to think about selling?
You certainly can sell your practice later, but doing so might mean missing out on potential profits that could have been realized with an earlier sale. The market and life are unpredictable, and you can’t guarantee you’ll be able to maintain your current level of practice for years to come. If you’re forced to cut back in the near future, your practice’s value could plummet, leaving you in a weaker negotiating position. The optimal time to sell is when your practice is thriving and you have a solid strategy in place, as buyers are less interested in practices on the decline.
More FAQ’s
