Getting Your Practice Ready to Sell
By Cindy Pauley, DDS & Practice Transition Advisor, OMNI Practice Group You are ready! You woke up one morning early last week and said to yourself, “It’s Time!” You have loved being a practicing dentist. But for a multitude of possible reasons, you are ready to sell. So, what’s next? You look around and think is my practice ready to sell? All of a sudden you see the chipped paint...Read Moreby omniadminOctober 3, 2021 Practice Sales, Seller Articles, Seller FAQ, Selling a Practice0 comments
Dental Seller Preparation Checklist
The best time to start preparing for your practice transition is three to five years from the date you plan on selling your practice. Since you may not really know that date, the best time to prepare is NOW! Here is a checklist of things you should do as you get closer to deciding to sell your practice: ___ Meet with your Financial Advisor – Discuss with your financial advisor that you are...Read MoreTop 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 MoreSeller 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 Moreby omniadminJuly 12, 2021 Practice Sales, Practice Transtions, Seller Articles, Selling a Practice0 comments