When most people dream about building their dream home, they envision all aspects of the home building process- the architecture, location, square footage, furnishing, etc. One of the first steps taken to convert the dream into a reality is outsourcing the job to a team of experienced professionals to build the home. The same…Read More→
Author: Marketing
Maximize Your Chances of Selling Your Dental Practice and Your Sales Price – Part 2
Here is a post from Tim Lott, CPA, CVA and Ellen Dorner of NL Transitions, a Dental Brokerage firm. In Part 1 (5 Ways to Improve the Selling Price of a Dental Practice), we dealt with issues within your dental office you can “clean up”. However, if those items are already completed, what else can a seller do to enhance the value of their…Read More→
Selling Your Dental Practice in a Distress Situation
Definition of Stress– “Acute or extreme pain or anxiety, the state of extreme necessity or misfortune, to complete pain or force of circumstance.” A dental practice sale during a time of distress is never easy or pleasant. It is laced with many difficult but related issues, i.e., maintain staff, maintaining productivity, and maintaining practice…Read More→
Six Things To Consider When Selling Your Dental Practice
LOCATION When a potential buyer is looking to purchase a dental practice, the physical location is one of the first considerations. The dental practice location is comprised of not only the actual address but the demographics and population trends of the area. Your dental practice is strongly affected by changes in the area, whether it…Read More→
When Should I Begin Planning To Transition Out Of My Practice?
The first steps begin by recognizing and acknowledging a time frame of transitioning. This may be driven by desire or the need to retire. Often, dentists fear the transition process and view it as the end of their best years. Transitioning out of your dental practice is not the end, it’s the beginning. The ultimate…Read More→
What’s Involved in the Dental Transition Process? Part II
Work with your Dental Practice Broker Choose a broker that represents YOU. It is important that your broker does only single representation. A broker cannot fairly represent both parties when each party has different goals, i.e. the seller wanting to realize the most net profit out of the practice and the buyer wanting to purchase…Read More→
What’s Involved in the Dental Transition Process? Part 1
Be Ready To Transition The most common reason dentists decide to transition is because they are ready to retire. Whether or not this is your reason, you should begin the planning process three to five years before your target retirement date. Divorcing emotional attachment will help you make smart decisions and be ready to make…Read More→
Practice GPS: Where Are You on The Roadmap to Transitioning?
Transitioning out of your dental practice can be tough if you don’t have a solid plan. This major milestone can often be stressful given the financial and professional importance. Whether the decision to transition is due to an emergency exit, a planned exit or just ongoing preparedness, it’s never too early to put a plan…Read More→
What’s On Your Bucket List For Your Next Chapter Of Life?
If you are planning to transition out of your practice, having enough retirement money is extremely important. You’re on the verge of finally pursuing your other goals and dreams outside of your practice, and now it the time to ensure that you have the proper finances to enjoy your next life chapter.
What is the Value of Your Dental Practice? Tips on Setting Your Practice Value
Whether you’re transitioning out due to retirement or preparing your practice for a merger, it’s important to position your practice to be as attractive as possible to the potential buyer. Do you know the value of your dental practice? How does your practice size up in the competitive marketplace?