Buyer Articles

Entrepreneurial Energy

By Corey Young, DDS, MBA, Practice Transition Specialist   What defines entrepreneurial energy? According to David Lyons, PhD: “Entrepreneurial energy is the force that sustains the momentum and velocity of progression in the venture. Energy can rise through excitation/agitation and fall through decay of the energy as a result of predicaments or failures. Entrepreneurial energy is an...Read More

Pitfalls to Avoid in Buying a Building

By Steve Kikikis, Vice President, Commercial Real Estate Broker Money Pit or Cash Cow? On occasion when a doctor purchases a practice there is also an option to purchase the real estate.  Historically, real estate has been a good investment over time, but owning a commercial building has its own nuances. There are a lot of similarities between owning a commercial building and a residential...Read More

Where to Own a Dental Practice?

The question we often get from potential practice buyers is “Where is a good spot to own a dental practice?”  There are a lot of factors that contribute to answering that question. But first, let’s discuss the reasons why you want to own a dental practice. If you are in it because you love dentistry and love helping patients and you are not necessarily in it to make the big bucks, you can...Read More

Buy an Existing Practice or Build a New One?

By Rod Johnston, MBA, CMA We speak with hundreds of practice buyers each year.  Many are looking for that gem of a practice in their desired area; a practice with new or newer equipment, digital technology, great location, recently remodeled, etc.  Oftentimes, that practice either doesn’t exist; or if it does exist, it’s not for sale.  So what’s a buyer to do – buy an existing practice...Read More

Should I Pay Down My Student Debt Before Purchasing a Practice?

By Rod Johnston, MBA, CMA Nothing resonates more with recent college graduates than the talk of possibly wiping away student debt.  Even though this might be a talking point of our current administration, it does bring up a question that newly graduated dentists worry about if they want to own their own dental practice.  Should I pay down my student debt first?  Or should I purchase a practice...Read More

Patient Record Audit: Suggestions for Buyers

By Megan Urban – Randomly select patient records and review for complete documentation, full mouth diagnosis, necessary x-rays, and regular maintenance. – Review the most recent three to five new patient records for charted existing and diagnosed “ideal” treatment, perio charting, appropriate x-rays, and confirm if the patients have their next scheduled appointments. -Review the...Read More

Interview Questions for Every Dental Practice Role

By Megan Urban, Practice Transition Advisor Businesses across the country are struggling with staffing issues and the dental world is NO exception. During the pre-pandemic years finding great staff was a challenge, but since the pandemic began finding and retaining great staff has become a tumultuous experience. What follows are some interview questions that have helped dentists and their...Read More

Goodwill in Dental Practice Value

By Rod Johnston, MBA, CMA As many of you know, in the purchase of dental practices, typically the biggest contributor in determining the purchase price is “Goodwill”. However, are you aware of the aspects that make up Goodwill?  Of course, it includes the patients and the reputation of both the business and the selling dentist. But it’s also based on patient retention, which is the practice’s...Read More

Dental Practice Buyer FAQ

by Megan Urban, Practice Transition Specialist Where / How do I start? Where do you want to live? Not that you can’t change your mind and sell, move, or buy again. But it’s typically best to determine where you want to live, such as in close proximity to family members, or near an airport, or close to beaches and surfing, or near ski resorts.  Are you a city dweller?  Are you a nature...Read More

Buying Another Location

By Megan Urban, Omni Practice Group It’s very exciting to think about adding a location! Here are some issues to think about before making this big decision. Why? If it’s to increase collections, maybe you can simply add more days or extended hours at your current location. Verify what your current patient retention is to determine if you need to mine from existing patients. Is there any area...Read More