I WISH SOMEONE HAD TOLD ME ABOUT BU YING A

DENTAL PRACTICE

10 THINGS

Investing in a dental practice is a huge undertaking that could be paid o� quickly should careful considerations be taken into account. Learning about the business well would ensure strategic and pragmatic decision making throughout the entire process from inception to completion.

Buying a dental practice is a huge undertaking but one that can pay o� tremendously. After gathering all the useful information and real experiences from several dentists, the important lessons would be shared through this article such that one could learn from them.

First, it's important to deeply understand the

Patients' behavior

Payment method

Financial data

Business statistics

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#2Paying close attention to the cash �ow related information

is the also a very critical component as it helps with understanding the solvency and pro�tability of the dental

practice.

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Besides, knowing the reasons on why the selling dentist exits the business will guide you through the history,

strengths, weakness, potential issues and opportunities of the dental practice.

When it comes to the existing and future states, investigating on the location of the practice is important as it will help estimate the number of existing competitors, understand the demographic mix and project any additional advertising expenses that is needed to

strengthen the brand of the new practice.

Engaging competent and experienced accountant and attorney will ensure a

smoother and safer negotiation process as they will provide you with professional

advices that are more reliable. It’s crucial to choose someone that’s without any con�ict of interest to ensure the quality and integrity

of the professional services

Instead of absorbing all the information that is provided by the selling dentist, it's preferable to perform independent

study on all the information yourself so that you do a reality check and get views that are unbiased. Looking at the

historical reports closely and understand the underlying details will help you get a better assessment of the business

and its transparency.

An e�ective transition plan should have su�cient details and strategic planning on timeline so that all the items are executable in a timely manner to avoid

any unnecessary hassles and expenses.

It's imperative to get educated on taxes and �nd an experienced mid-sized regional bank to work with for easier lending. It’s proven that getting into business with the least debt will serve you better in a long run.

The key to success is to have a good sta�ng model that consists of

high performers. Letting go of people who do not �t into the new

environment is a necessary decision that needs to be made.

Doing things in moderate pace with careful thoughts

will ensure sustainability and bring joy to the entire

process.