Let’s run through a hypothetical. You’ve found the perfect practice. It has a great staff, good location, healthy client base, the works. It’s even right in your price range … or at least it should …
Using Average Prices to Value a Practice is DUMB
When you’re purchasing a dental practice, don’t fall into the “average practice value” trap. This trap has to do with a number that’s both simple and helpful … right up until it isn’t. Let me …
Average Staff Costs in Dental Practices
The largest cost in any dental practice is the money paid to staff. So when you are looking to buy a dental practice, the number one expense to pay attention to is staff costs. Staff …
How Dental Practice Valuations Work
Some dentists think there is a “right” price for every dental practice on the market. They assume dental practices are like home values, where someone out there with the right formula can input some numbers …
Don’t Buy the Pessimism – NOW is a Great Time to Buy a Practice
If you’ve ever caught yourself worried about a negative headline as it relates to your career prospects in dentistry, let me explain what’s happening. Perhaps this will help a bit. Not a day goes by …
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 …
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. …
Business Insurances You WILL Need After You Buy Your Practice (and 2 you MIGHT need)
In this article, I’m going to talk about business insurance – not personal stuff like life and disability. (I shared thoughts on life and disability insurance in separate posts you can read here and here). …
BofA is Lending Again! Here’s What You Need to Know
As of Tuesday of this week, Bank of America is back open for the business of lending on dental transitions. This is a big deal, and if you’re in the market for buying a practice …
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 …