Category Archives: General

By Brian Hanks | Dental Buyer Advocates Part 1 of our “How to Feel Ready to Buy a Dental Practice” series. One of my most memorable clients called me on a Tuesday afternoon, straight-up bawling. Not because the deal fell apart. Because she’d just signed the papers on her practice and it finally hit her […]

Previously we discussed what to ask the seller during your first meeting. Here’s another one to add to that list:

“When are you planning to tell your staff and patients about the transition?”

The answer should be something like, “As soon as possible,” or even, “I already have.” If the seller says they’re putting off telling anyone until the deal is done, encourage them to reconsider.

Bad brokers are annoying, but you may think the underlying practice is worth dealing with them. If you’re looking at a practice that has that kind of broker involved, I want to give you a tool in your arsenal that you can use to negotiate with.

The dentist I was talking to argued that starting a practice makes more sense because (I’m paraphrasing here), “Tons of patients loyal to the seller will leave anyway, and I’ll have to build a patient base again. I might as well start from scratch.”

There’s wrong, and then there’s completely, totally wrong. This dentist was the latter.

I know many dentists share this fear, even if they’re not as adamant about it as the doctor in this story. And it’s not a crazy fear! But it is wrong.

Don’t negotiate simply to negotiate—negotiate to find a win-win. Protect yourself well with a dental specific, transitions-focused attorney and accountant, and you’ll be a lot happier both throughout the process and after you own the practice.

I’ve worked with quite a few parent/child dentist families, where the parent is retiring and the child is coming up in the industry and ready to buy the parent’s practice. Seems easy! No adversarial relationships here, right?

I certainly hope so! While some aspects of this type of transition are easier, it also comes with less obvious landmines to avoid.

DSOs seem to be on the rise these days. These investor-owned, multi-practice corporations have deep pockets and lots of bargaining chips when it comes to buying up private practices.

So what do you, the small, private buyer, have to offer a seller? Why would they choose you? Let’s take on a few truths and misconceptions about DSO offers, and why you’re still extremely competitive as a private buyer.

Balance sheet due diligence is not typically a major part of due diligence in a dental practice purchase. But that doesn’t mean it’s not important.

Understanding the balance sheet of the practice you’re buying is a necessary step, though it’s one that rarely turns up any worrying issues.

Luckily, you don’t have to do it.