By Michael Dinsio, Next Level Consultants
As a buyers’ representative and business coach, I talk to hundreds of doctors a year. Many themes emerge from these conversations, but the one that pains me the most is hearing how dentists delay considering practice ownership early in their career. Many desire ownership and watch as friends become owners with a thought of maybe someday. But, for...Read More
By: Joseph Coury
Applying for a loan is probably not at the top of anyone’s list of favorite things to do. Sometimes applying for a loan can feel like a very opaque process, and often times it may seem endless. When you consider a Veterinary practice loan, you may wonder how to make the process easier, and what you can do to best position yourself for approval.
Different lenders have different...Read More
I meet over 150 dentists each year who are looking to buy an existing dental practice. Of those, I would estimate that 30% haven’t done any research on what is involved in buying a practice. Of that 30 %, none of them know the beginning-to-end process of buying a dental practice. While I can’t cover all the steps in this article, I can give you some guidance on where to start and what...Read More
By Rod Johnston and Jim Vander Mey
There are many advantages to owning a veterinary practice over being an associate veterinarian and not owning a practice. For one, the average veterinary practice owner makes approximately 20% more in income than an associate veterinarian working for someone else. A veterinary practice owner also gets to choose what procedures he wants to perform...Read More
In 2015 Dental Services Organizations, or DSOs, owned approximately 12% of all dental practices. Experts predict that by the year 2025, DSOs will own 25% to 30% of all dental practices and almost 50% by 2030*. As a practice broker keeping a pulse on the practice selling market, we have not seen a lot of large DSOs, let alone smaller groups buying practices. However, as of recently,...Read More
There has been a great deal of discussion over the years about dental practice price, but very little has been said about practice value. It is especially important that practice buyers understand these terms and be able to differentiate between them since practice value has significantly more impact upon the future of buyers than does practice price.
Price is the consideration (cash,...Read More
By Megan Urban and Jim Vander Mey
Who can help me?
This is a very important decision and time for you and your family, so it’s critical to build your team of trusted advisors, such as veterinary specific broker (with a commercial real estate license), lender, CPA, attorney. These professionals have done many unique transitions, and often with each other, so they work well together and know...Read More
Often times, a potential buyer of an existing practice will simply take on the existing lease that the seller had with the landlord. The seller will do what’s called a lease assignment and assign the lease over to the buyer. But, did you know that there may be a chance you can renegotiate terms in the lease, even though there may be a few years left to the end of the term?
When you...Read More
By Jim Vander Mey
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 need to do to get to your target....Read More
By Megan Urban
Who can help me?
This is a very important decision and time for you and your family, so it’s critical to build your team of trusted advisors, such as dental specific broker (with a real estate license), lender, CPA, attorney. These professionals have done many unique transitions, and often with each other, so they work well together and know how to provide you with a...Read More
