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Top 5 Fears Dentists Have About Practice Ownership (And How to Overcome Them)

There are many advantages to owning a dental practice over being an associate dentist and not owning a practice.  For one, the average dental practice owner makes approximately 20% more in income than an associate dentist working for someone else.  A dental practice owner also gets to choose what procedures he or she wants to perform, refer out, or delegate to an associate (if there is one)....Read More

Ideal Practice Benchmarks

By Jim Vander Mey, CPA, ABI – jim@omnipg-vet.com People love benchmarks.  They want to know how many glasses of water we should drink each day.  How much we should work out every week.  Or, how many miles per gallon our cars can achieve. There are also benchmarks to look at when you are buying a practice.  They may not necessarily be deal-breakers, but they help determine what you will...Read More

Seller Carrybacks and Veterinary Practice Transitions Today

You’ve heard the term “Seller Carryback,” but what does it mean? Seller carryback financing is when the seller of a given property, or in this case, a seller of a veterinary practice and assets, acts as a lender for the buyer if a conventional bank will not offer the full amount that the buyer needs to close the sale. Years ago, it was commonplace for a retiring veterinarian to act as the...Read More

Seller Carrybacks and Dental Practice Transitions Today

By Jen Bennett, Practice Transition Advisor You’ve heard the term “Seller Carryback,” but what does it mean? Seller carryback financing is when the seller of a given property, or in this case, a seller of a dental practice and assets, acts as a lender for the buyer if a conventional bank will not offer the full amount that the buyer needs to close the sale. Years ago, it was commonplace for a...Read More

5 Practice Transition Pitfalls and How to Avoid Them

A successful transition involves preparation and knowledge. There are numerous things you should do to get your practice ready to sell and making even one mistake can cost you. Here are five transition pitfalls and how to avoid them. Letting your production and profitability go down prior to selling. We have seen many practices that were producing $300k to $500k a few years prior to contacting...Read More