Articles

How to Use BROKERS to Find a Dental Practice to Buy

If you’re looking for a dental practice to buy, follow my 80/20 rule. It’s pretty simple: When you’re looking for a practice, you should spend 80% of your time networking with other dentists, especially grey-haired ones. That’s where most of my clients find their eventual practices, and it’s usually how you’ll find the best ones (the ones that never even hit the other market.

The other 20% should be spent with brokers, also an excellent resource. You can do that passively, just by checking their websites, or proactively, by connecting with them personally. Connecting with brokers is both easier and trickier than working with other dentists.

Understanding Dental Practice Valuation: Treatment Plans

Eighty percent, that’s the goal.

When you’re buying a dental practice, Your treatment philosophy and that of the seller should match up well—even if it’s not 100%.

Why is that? There are two reasons: one is qualitative, all about what kind of dentist you want to be; the other is mercenary, all about collections.

What Dentists Need to Know About Seller Financing

Banks aren’t the only ones who can loan you money! If you’re buying a dental practice, it’s possible that the selling dentist could be involved in the loan process as well, as a lender. While it’s less common than a standard bank loan, it could become relevant in your purchase process. If it is, here’s what you need to know.

Buy a Mid-sized Practice. Here’s Why.

Let’s talk about sustainability.

No, I don’t mean the environmental buzzword—important though that may be.

I’m talking about personal sustainability. The ability to maintain your life, your work, yourself throughout a long and lucrative career.

So, with that in mind, here’s a piece of general advice for most dentists: don’t shoot for the stars.

Counterintuitive, right? Obviously this one is going to need a breakdown.