The most important quality to look at when buying a practice is one with strong office collections.
As a general rule of thumb, I strongly encourage you to ignore any practice that is not collecting at least $750,000, preferably $800,000+.
Why is that? Read on to find out. (More detail in the video after the jump.)
For the vast majority of dentists purchasing an existing practice is easier, faster, less risky, and at least as rewarding as going the startup route.
Now, my purpose here is not to completely poo-poo the idea of startup practices. Sometimes doing a startup is a great option. But there are three very common myths circulating about the [false] “cons” of buying an existing office. I want to dispel these myths and break them down for you based on my years of experience.
Just like asking strong questions can work for your benefit, asking wrong questions will be to your detriment. Here are 4 questions to avoid at all costs when meeting the seller.