Category Archives: Before You Buy

Letters to Patients 101 (Don’t Let Your Seller Send this BAD Letter)

When buying a dental practice, one final piece of the transition a seller is involved in is sending an announcement letter to patients. The message is pretty simple: “Hey! There’s a new dentist at your office!” And…these letters are usually pretty bad. Often really, really bad. Why? There is a fundamental misunderstanding about what the […]

One Stupid Reason Some Sellers Don’t Sell the A/R

I was talking to a broker recently and learned something so mind-blowingly stupid that I was literally speechless. You should know about it, too, in case it comes up in a transition you’re involved in. In almost every dental transition the decision of whether or not to purchase the accounts receivable (or “A/R” – the […]

My 2020 Dental School Commencement Address

<My imagined dental school commencement address, if I had the opportunity to speak at a dental school graduation today.> To those of you graduating and finishing your various dental school and residency programs…I won’t sugar coat things: you’re going to need a little luck out there. I’ll begin my remarks by quoting the most famous […]

Why Demographics Is the LEAST and MOST Important Thing to Consider

I firmly believe that owning your practice is the best career move a dentist can make for both their career satisfaction and your wallet. You’re likely to spend at least as much time in the practice you own as your own house. So pick a good practice! But…where? Finding a good practice to buy is […]

Can You Buy a Practice Right Out of Dental School?

What if the standard advice to “find a private practice where you’ll see a lot of production as an associate and then buy” just won’t do it for you personally? What if you think you want to buy a dental practice straight out of dental school? It can happen. But I strongly advise against it. […]

How an LOI Works in Dental Transitions + 2 Mistakes to Avoid

In a strict definition, a letter of intent (LOI) is simply a legally non-binding offer to buy a practice from a seller. You’re simply telling a seller, “I want to buy your practice for this much money on this date with these broad terms spelled out.” The main purpose of the LOI is two-fold. First, […]

3 Reasons Buying a Practice Now is Still a Good Idea, Despite the Coronavirus

With all the craziness in the world right now, a lot of buyers are asking the question, “Should I even be looking at buying a practice right now?” I understand the sentiment. When things seem out of control, it’s natural to want to remove things from you’re life that seem like a risk. Buying a […]