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 get...Read More
There are a few things you should be wary of when buying a practice. These are not necessarily deal breakers, but things to bring up and analyze with your team when you are buying a practice.
ALL THE TREATMENT IS DONE – You can run an unscheduled or untreated treatment plan report that should give you an idea of treatment on the books. You can also look at the number of true active...Read More
It’s getting late in the game, you’ve been sitting on the bench for a long time, waiting for your opportunity to get in. You feel you can do more and are not reaching your potential. You feel you have superior skills to the person in front of you, but you’re just not being given the chance. You’re worried that you’ll never get that opportunity before your skills...Read More
Guest post by Tommy Leigh, Vegas One Realty
Shopping around for comps before buying a dental practice may seem like a given for some. To find the best staff with the best service and the best customers, it’s going to take some time and effort to figure out which one fits a buyer’s objective. But just like so many things in life, the answer isn’t always tied up in a...Read More
Buying a Veterinary practice is like getting a colonoscopy. You know you should probably do it, but it can sometimes be a pain in the nether region. But just like getting a colonoscopy, it can go very smooth if you follow the right steps and use the right professional. Here are a few steps to consider which can make for happy times in the end. No pun intended.
Have good clinical...Read More
The question we often get from a potential practice buyer is “Where is a good spot to own a practice?” There are a lot of factors that go into the answer to that question. But first, think about the reasons why you want to own a practice.
If you’re in it because you love being a veterinarian and love helping patients and not necessarily in it to make the big bucks, you can really practice...Read More
Cash is king is an old adage used to describe one of the keys to success in business as well as personal finances. Cash is essentially physical money or liquidity you have available. While cash may be king when it comes to having cash on hand, another vitally important ingredient to the success of a practice is Cash Flow. Cash Flow is the amount of money you have available in a...Read More
I often get calls from doctors who want to buy or open a second, third or fourth location. My first question to the caller is how well is your current practice doing? More often than not, they tell me that they’re practice is producing $50,000 per month. I then ask them what percentage of collections is their hygiene production? They tell me it’s about 18 or 20%. Next...Read More
It’s probably been a while since you bought or started your practice. You may have just found a location and put up a sign, or bought the practice that you went to as a kid. You did not have a plethora of practices to look at, different practice management systems, new technology, or even a wide variety of practices or procedures to choose from the way graduates do today. Dentists...Read More
As we all close out on 2017 we reflect on the year’s accomplishments and successes. For Omni, we had a record year helping doctors buy existing practices finding new locations for their startup practices. This enabled us to give to various dental related charities and also towards our annual Thanksgiving Basket Brigade. We helped feed over 1,000 people at Thanksgiving time.
How...Read More
