The REAL Reason Dental Practice Prices are Going Up

The average price buyers are paying for dental practices is going up. My research shows the 15-year nationwide average for general dental practices is hovering slightly above 76%, with many major metro areas consistently selling high-producing, high-profit-margin practices for 90%+ of prior year collections.  The reactions are predictable. Dental practice sellers: “Yay! We’re going to […]

Practice Purchased Podcast 1-1 – The 5 Things You Need to Buy a Dental Practice

Welcome to the first episode of Season 1 of Practice Purchased – the podcast that takes you through the entire process of buying a dental practice start to finish. All in 20 episodes. Each 20 minutes or less. Why? I love podcasts, but I don’t need an hour for each one. I don’t need an […]

How Due Diligence Works in Dental Transitions

Buying a dental practice is almost certainly one of the two largest purchases you’ll ever make in your life.  The other big purchase is likely to be your house.  When you buy a house, there’s a whole defined process to make sure what you’re buying is what a seller tells you it is.  Title companies. […]

Be a Due Diligence Ninja and Pay Attention to These 4 Things When Buying a Dental Practice

Getting due diligence right is an important step in buying a dental practice. A lot of buyers get really nervous with due diligence as the full weight of what they’re doing really starts to sink in.  “Wait…so I’m going to pay a million dollars for…what’s this?…wallpaper from 1970?” I’ve talked elsewhere about the best time […]

What Successful Practice Owners Know About Hiring – Default to “No”

When you buy a dental practice, a huge amount of the goodwill you’re purchasing is the staff. A dental practice’s staff are the engine of its success.  Yet, no matter how nice of a boss you are, you’re guaranteed to see some turnover in your first year or two of ownership.  When that first staff […]

How to Decide Between Two Good Practices

I call it my most bone-headed move in high school. Though, to be fair, the situation was totally unprecedented.  I had not just one, but two, girls ask me to a school dance my junior year of high school.  Having one girl interested was special enough. But two? At the same time?? Unprecedented.  Of course, […]

Practice Ownership: The Sword to Slay Student Loans

It was fun to see an article that I co-wrote be featured in the Dental Economics magazine this month. Hat tip to my buddy Tripp Yates for allowing me to contribute. Link to the article: Many believe that the rising cost of student loans is single-handedly responsible for the rise in the number of […]