Dentists who are not yet ready to retire may want to consider owning their office building to their long-term retirement strategy. Real estate has historically been a solid investment for anyone looking to generate income on the side, and at a time when dental office lease rates are rising, why not become your own landlord?…Read More→
Author: Marketing
Utilizing a Shared Office Space Agreement For Your Dental Practice As Part of a Transition Plan
Like most dentists nearing the end of their professional career, you may be trying to cut back on hours. Working fewer days per week or less each day is a great way to avoid burnout and still practice dentistry, but on your terms. Problems can arise when those hours aren’t being used to see patients,…Read More→
Women in Dentistry Series: How Retirement Planning is Different
The unfortunate truth is that female dentists face an uphill battle when preparing for retirement. The challenge starts with the difference in earning potentials. Yes, the gender pay gap is closing but not fast enough. Women in dentistry are making an average of $120,00 per year while male dentists are making an average of $185,000…Read More→
Women in Dentistry Series: Tips for Retirement Planning
In our previous blog posts, we discussed the challenges that women in dentistry face when preparing for retirement. But what can female dentists do to take control of their long-term financial security? No matter where you are in your career – just out of dental school or an established professional – you can take steps…Read More→
How Female Dentists Can Better Prepare for Retirement
In our last post, we outlined some of the reasons why planning for retirement is a tougher challenge for female dentists. Women are taking more leadership roles in dentistry without sacrificing their family roles. In many cases, the demands of running a dental practice and managing a family can be hard to balance. Saving for…Read More→
Retirement Challenges Facing Women in Dentistry
Being a woman in dentistry can be challenging sometimes, but it is always fulfilling. In few other professions can females create independent wealth and success while improving the health and well-being of other people. And there are more women in dentistry than ever before. Women are graduating from dental schools in nearly equal numbers as…Read More→
Why You May Need to Sign a Non-Compete When You Sell Your Dental Practice
You already know that selling your dental practice will come with a lot of contracts to sign. Did you know that a non-compete might be among them? Unless your plans involve moving to a different state for retirement, expect the buyer to ask you to sign a restrictive covenant that protects his or her new…Read More→
Dental Practice Exit Strategies: How to Choose the Right Goal
For many dentists, your practice means more than just a paycheck or a job. Your practice represents years of hard work, commitment, and sacrifices. There are decades of memories. That’s why selling your practice is such an emotional decision. When the sale price represents such a big piece of your life, you want to get…Read More→
How to Increase the Value of Your Dental Practice Before a Sale
If you’ve been reading the blog at N/L Transitions, hopefully you know that the time before a dental practice sale is crucial. While some dentist owners may be satisfied with the status quo, eagerly awaiting their next step, you should take this opportunity to gear up your dental practice and increase its value. It might…Read More→
Maintaining Cash Flow Before Your Dental Practice Sale
Before you sell your dental practice, potential buyers look for many things: patient flow, location, and practice performance, to name a few. Perhaps one of the most crucial elements of dental practice value is positive cash flow, which you should be working to maintain as you approach the exit from your practice. You…Read More→