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→
Category: N/L Transitions Blog
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→
What’s In A Purchase Price
One of the most common questions we get at N/L Transitions is “What is my dental practice worth?” The answer is complicated and depends on so many factors, including many that are out of the dentist’s control. The simplest solution some use is to multiply the dentist’s net income by 1.5 times, or take the…Read More→
Selecting the Right Transition Team
As you prepare to sell your dental practice, it’s important to have a qualified, dedicated transition team at your side. Simply choosing general advisors regardless of their specialty may seem harmless. For some dentists, choosing a general transition team has worked out fine. For most, though, a transition team comprised of dental experts yields…Read More→
Four Strategies to Quickly Increase Your Dental Practice’s Value
Although the right time to transition out of your dental practice is different for each dentist, the time of year does have an impact. Dental transition trends point to an increase in buyer demand early in the year. If your retirement funds are in order and you’re ready to retire, January may be an ideal…Read More→
Transitions Can Be Scary: Worst-Case Scenarios and How To Handle Them
Halloween is right around the corner, and that means trick or treating, ghost stories, and scary costumes. Selling your dental practice in the wrong way can be scary, too. Whereas ghost stories and scary costumes pass with the season, falling into a transition pitfall can lead to permanent and unpleasant consequences. These are some…Read More→