Although the world anxiously waits to return to some form of new normal, businesses must thrive, including buying a dental practice. The good news is that the dental practice market hasn’t been affected at all, and it remains higher than ever. According to dental industry research, there is a 60% surge in purchases over…Read More→
Author: Marketing
Important Valuation Methods When Selling Your Dental Practice
While CoVid 19 has impacted dental practices, many or most have begun the rover process over the last six months. Although your revenue may have declined in 2020, there is no reason to prolong your practice transition. So, what methods are utilized when assessing the value of your practice? The Net Asset Valuation…Read More→
A Simple Dental Business Selling Guideline
As a dental practice owner, you must let go of your practice at one time or another. This is why, regardless of what stage you are in life, having plans to sell should always be in the pipeline. Even without the negative impact of Covid 19, you would still have a sales proposal at…Read More→
Owner Occupied Real Estate-Seller Won’t Sell Real Estate-Deal Breaker?
Often, when a dental practice seller also owns the real estate, they sell both the practice and the real estate at the same time (or at least that is their desire). At the same time, this ends up being an excellent opportunity for most buyers, that is, to buy real estate and become a real…Read More→
Another Crazy Tax Season Ahead – 2021 Version
With the passage of the CAA in late December 2020 and the talk of additional pending legislation that appears to be heading our way, it will be another crazy income tax preparation season for many CPAs. Until the late December legislation, many CPAs had already been planning how their client’s income tax returns would be…Read More→
Dental Transition Options: Reinventing Retirement
More dentists are approaching retirement with a different mindset. It’s no longer all or nothing: you can give up total control of running your practice but remain in the game, and on your terms. When you’re ready to step back but not actually ready to sell, there are two transition scenarios that many dentists have…Read More→
Transition Options: Traditional Ways to Hand Off Ownership of Your Dental Practice
The path to retirement can look different for every dentist. Where you fit depends on your goals, lifestyle, preferences, and management philosophy, among other factors. Dentists who are contemplating retirement and want to know the traditional options to stepping away from their practice, continue reading for practical scenarios that can help achieve your transition goals….Read More→
Determining Needs and Goals: Set Non-Traditional Goals for Your Dental Practice
“I always thought that facing retirement would be easier.” This was a really insightful, honest response from a Townie in a discussion thread about encore careers. This post isn’t about setting typical dental practice goals, like year-over-year growth, new patients, or profit margins. Instead, this post is about setting goals for your transition to retirement….Read More→
Determining Needs and Goals: What Happens When You Don’t Love Dentistry Anymore?
Has dentistry started to lose its appeal? Many dentists report loving their job, but for others – well, maybe you’re burned out, maybe dentistry was never really your dream job to begin with, or maybe you’re just ready for a change … but you don’t know what the next step is. How do you figure…Read More→
How to Embrace Retirement as a Dentist
In our last post, we laid out five common reasons why dentists may fear retirement. Delaying retirement due to an underlying concern can end up being problematic in the long-term. You risk missing out on time with your family, opportunities to travel or fulfill other goals, and enjoy a more relaxed lifestyle without the hectic…Read More→