Finding a Practice

Yes, Now Is the Right Time to Buy a Dental Practice!

Posted on by Brian Hanks

2023 is the best year for you to buy a dental practice. Well, let me back up and say, it COULD be the best year for it. Depending on you.

In my conversations with dentists, so often they express concerns about it not being “the right time.” And I get it! We talk about “the right time” when it comes to the stock market, the housing market, and other investments. But this is not the same thing.

Are YOU ready to buy a dental practice?

  • Do you want independence in your career?
  • Do you have solid skills and hand speed?
  • Have you saved up some money? Or can you?
  • Are you actively building your network? Or are you ready to do it?

Notice there’s nothing in my checklist about interest rates, or the Dow Jones, or macroeconomic trends across international markets (or whatever). If you’re a “yes” to those questions above, then 2023 is the perfect year for you to buy a dental practice.

You’re actually extremely fortunate! You’ve chosen a profession where economic ups and downs don’t matter as much as they do in some others. (There’s always more sugar, after all!) Trying to “time” the market just means that you’re delaying your independence longer and longer.

So it all comes down to you. If YOU’RE ready, then the right dental practice is out there, ready for you. Will it be easy to find and easy to buy? Probably not! But that’s where I come in. I can help you through the entire process.

Learn how to find the right practice, how to negotiate the purchase, and how to prepare yourself for ownership with the resources I provide. The podcast and the blog are free. The book is only $2. And when you’re ready, you can get in touch with me to help you make it all happen.

MORE RESOURCES

 

  1. Understanding the Asking Price – Is It a Good Practice to Buy?
  2. Yes, It’s Okay if the Practice You Buy Is Close to 5 Others (or 10) — Here’s Why
  3. 3. Why Demographics Is the Least and Most Important Thing to Consider
Brian Hanks

Brian Hanks is an author, advisor, certified financial planner specializing in helping dentists evaluate and acquire a dental practice of their own. Brian developed his dental practice acquisition framework to help dentists navigate the complex and overwhelming process. Brian's book, How to Buy a Dental Practice: Find, Analyze, Negotiate, and Purchase the Right Dental Practice for You, details the basic pitfalls that new dentists often make, and lays a roadmap for a successful acquisition. His consultancy, Dental Buyer Advocates, provides hands-on guidance and expertise for evaluating practices, negotiating with sellers, closing on a practice, financing, transitioning a practice from the seller to the new buyer's management, and much more. Brian has a business management degree from BYU, a finance MBA from University of Michigan, and a CFP certification from Northwestern University. He lives in Salt Lake City, Utah with his family and serves dentists nationwide. See Brian's 27-point dental practice acquisition checklist: https://www.dentalbuyeradvocates.com/dental-practice-acquisition-checklist/ Learn all about the process of buying a practice: https://www.dentalbuyeradvocates.com/buying-a-dental-practice/