Happy New Year! Is this the year you finally take the plunge and buy your own practice? Or are you content with being an associate working for someone else? Here are a few reasons why 2020 should be the year you become a practice owner:
Interest rates are starting to move up. The past few years have rewarded buyers with interest rates in the 4% to 5% range and some with as low as 3.75%....Read More
By Michael Dinsio, Next Level Consultants
As a buyers’ representative and business coach, I talk to hundreds of doctors a year. Many themes emerge from these conversations, but the one that pains me the most is hearing how dentists delay considering practice ownership early in their career. Many desire ownership and watch as friends become owners with a thought of maybe someday. But, for...Read More
I meet over 150 dentists each year who are looking to buy an existing dental practice. Of those, I would estimate that 30% haven’t done any research on what is involved in buying a practice. Of that 30 %, none of them know the beginning-to-end process of buying a dental practice. While I can’t cover all the steps in this article, I can give you some guidance on where to start and what...Read More
In 2015 Dental Services Organizations, or DSOs, owned approximately 12% of all dental practices. Experts predict that by the year 2025, DSOs will own 25% to 30% of all dental practices and almost 50% by 2030*. As a practice broker keeping a pulse on the practice selling market, we have not seen a lot of large DSOs, let alone smaller groups buying practices. However, as of recently,...Read More
There has been a great deal of discussion over the years about dental practice price, but very little has been said about practice value. It is especially important that practice buyers understand these terms and be able to differentiate between them since practice value has significantly more impact upon the future of buyers than does practice price.
Price is the consideration (cash,...Read More
Often times, a potential buyer of an existing practice will simply take on the existing lease that the seller had with the landlord. The seller will do what’s called a lease assignment and assign the lease over to the buyer. But, did you know that there may be a chance you can renegotiate terms in the lease, even though there may be a few years left to the end of the term?
When you...Read More
By Megan Urban
Who can help me?
This is a very important decision and time for you and your family, so it’s critical to build your team of trusted advisors, such as dental specific broker (with a real estate license), lender, CPA, attorney. These professionals have done many unique transitions, and often with each other, so they work well together and know how to provide you with a...Read More
Whether your practice is collecting $100,000 per year or $10 million per year, you can always use a little more money. Whether putting it away for your retirement or paying for your kids’ college education, some extra dough always comes in handy. The best way to get more money in your practice is to grow your practice. But how do you do that? Here are a few suggestions:
PPOs –...Read More
Some dental practice owners own the building where their practice is located. The longer the doctor has owned the practice, the more equity they may have in the building. They also are paying themselves a high rent for tax planning purposes. One of the questions we get asked when a dentist is considering selling their practice is, “Should I also sell my building?”
One thing to...Read More