Stuck between pulling the trigger or walking away? Learn how to make a clear, confident decision on a dental practice so you can move forward or move on without second-guessing.
Due diligence isn’t about mistrust—it’s about verification. It’s your opportunity to understand what you’re stepping into before responsibility transfers.
Most buyer regret doesn’t come from paying too much. It comes from discovering problems after closing that could have been identified beforehand.
Due diligence isn’t about mistrust—it’s about verification. It’s your opportunity to understand what you’re stepping into before responsibility transfers.
When dentists talk about buying a practice, the conversation often centers on numbers: collections, EBITDA, price, equipment lists. Those things matter, but they’re not what determines whether ownership feels sustainable.
In reality, you’re buying people, habits, and systems.
Pay attention to your loan rate. But don’t let it distract you from other loan terms that can have a huge impact.
I’ve mentioned before that the profitability of a practice has many factors. I’ve told you that one factor, such as asking price, shouldn’t necessarily be a deal breaker. That being said, there is another factor that is a huge deal. Any guesses?
Drum roll please … office collections. Why? Because there has to be enough money coming into the practice to justify the time, energy, emotions and expense you’re going to take on as a business owner.
Account Receivable is the money owed to a practice by its patients, which the patients have not yet paid. Often, the A/R is available to purchase along with the practice itself. The question is, should you buy it?
Several other factors listed in loan proposals give the impression they are a big deal and need to be compared to choose the best loan. I’ll mention three that are commonly discussed, but that, in my opinion, aren’t important enough to be considered serious factors in your decision.
That first meeting with a seller is vital, and so is the first impression you give them. Making that great first impression will largely come down to the questions you ask, and how well you listen to the answers.
Here are 4 excellent questions to ask to set yourself apart.
A dental practice ought to look good, right? When someone drives past, they might notice the signage, the landscaping, the general look of the practice. Is it inviting? Is it dingy? These things matter!
But as a prospective buyer, you’re probably young enough to understand something instinctively: as much as the physical look of the practice matters, its online presence matters even more.
“Am I buying what I think I’m buying?” If you’re going to spend hundreds of thousands, maybe even millions of dollars buying a dental practice, you should be sure you’re getting the dream office that was advertised to you, and not what used car dealers call a “lemon.” That’s where Initial Due Diligence comes in.
Brian Tomono is a 24-year dental lending veteran. He brings his experience to your deal to make sure you pay as little as possible to the banks. He assists doctors in negotiations and team building to achieve their dreams of practice ownership. Read more »
Brian Hanks is an author, advisor, accountant, and certified financial planner specializing in helping dentists buy a dental practice of their own. Brian developed his dental practice acquisition framework to help dentists navigate the complex and overwhelming process. Brian’s book, How to Buy a Dental Practice: Find, Analyze, Negotiate, and Purchase the Right Dental Practice for You, details the basic pitfalls that new dentists often make and lays out a roadmap for a successful acquisition. His consultancy, Dental Buyer Advocates, provides hands-on guidance and expertise for evaluating practices, performing due diligence, negotiating with sellers, closing on a practice, financing, transitioning a practice over from the seller’s management, and much more. Prior to founding Dental Buyer Advocates, Brian served as an accountant and Certified Financial Planner™ at two different dental CPA firms. He is a featured author for Dental Economics, AGD Impact, and DentalTown, and is also a speaker for the Seattle Study Club. Brian has a business management undergrad from BYU, a finance MBA from University of Michigan, and a CFP certification from Northwestern University. He lives in Salt Lake City, Utah with his wife and four kids, and serves dentists nationwide. Read more »
Brian Hanks is involved in all deals with the team. Prior to starting Dental Buyer Advocates, he was an accountant and Certified Financial Planner™ at two different dental CPA firms. He will help guide you through the process of buying the right dental practice. Read more
Sapna Amin worked in a private practice as an associate and went on to become a private practice owner. She also has experience with merging practices with a DSO. She is dedicated to helping other buyers in acquire their dream practice like she did! Read more »
Tara Clarridge is the former business manager of an oral surgery practice that had multiple locations. She has over twenty years experience with everything from payroll to credentialing and is eager to answer any questions you may have. Read more »
Sam Sutton has been very involved in the dental world throughout her life, and will work closely with you to open up your practice. Prior to joining Dental Buyer Advocates, she was a Dental Hygienist and has seen how successful dental practices run. Read more »
Julie grew up in dental practices and comes from a dental family. Most recently she was the regional manager of three practices in Southern California as well as a dental management consultant in North Carolina for 13 years where she supported solo practitioners and group practices across a wide range of specialties. Read more »