Questions Frequently Asked by Dentists Who Are Thinking About Selling Their Practice
1. When should I start thinking about and preparing to sell my practice? The earlier the better, but no later than 3 years prior to selling your practice in order to optimize your sales price and find a good buyer match. Practice values are typically based on 3 to 5 years of financial information with the numbers weighted heavier towards the most recent years. If you focus your last 3...Read MoreSelling Your Dental Practice Does NOT Mean You Have to Stop Practicing
Whether you have owned your practice for 40 years, or owned it for 5 years, selling your dental practice does not mean you are done practicing. We often meet with doctors who are sick and tired of managing their staff, doing the bookkeeping, playing games with the government agencies, dealing with the ups and downs of the economy, the changing environment of the profession, and on and on....Read MorePreparing To Sell My Dental Practice
Preparing To Sell My Dental Practice By Megan Urban Selling your practice can be a difficult decision to make for many reasons. Perhaps you aren’t ready to stop treating patients but want fewer headaches. Perhaps you don’t know where to start or how the process works. Start today by contacting us to provide you with years of experience to bring you comfort and understanding. Below are a...Read MoreThe Short List Before Selling Your Dental Practice
by Megan Urban, Practice Transition Advisor, Omni Practice Group There are many steps to selling your practice and your trusted advisors are here to help. Right now, I want to address just a few items that many dentists don’t think about and that can lead to surprises. Contact your CPA and/or Financial Planner regarding the following items: Are you financially prepared to retire? Your...Read MoreDental Partnerships
By Megan Urban, Practice Transition Consultant, Omni Practice Group Dental partnerships can be great or not-so-great. They can include different scenarios: buying a partnership, adding a partner to your existing dental practice, or a start-up partnership. To ensure you have the best outcome, financially and emotionally, you’ll need to consider some important questions. Are you friends,...Read Moreby omniadminSeptember 2, 2022 Practice Management, Practice Sales, Seller Articles, Selling a Practice0 comments
Settling Credits Before Listing Your Practice
By Jen Bennett, Practice Transition Specialist You’ve made the decision to sell your practice, and with that comes the to-do list of tasks that can often feel daunting. One important task that is often overlooked is settling patient credit balances. What are credit balances and where do they come from? In many cases, a patient will have a credit on their account when their insurance pays more...Read MoreEntrepreneurial Energy
By Corey Young, DDS, MBA, Practice Transition Specialist What defines entrepreneurial energy? According to David Lyons, PhD: “Entrepreneurial energy is the force that sustains the momentum and velocity of progression in the venture. Energy can rise through excitation/agitation and fall through decay of the energy as a result of predicaments or failures. Entrepreneurial energy is an...Read MoreAre You Ready to Sell?
Are You Ready to Sell By Megan Urban, Practice Transition Advisor Are you ready to sell your dental practice? This is always a difficult question to answer for most dentists. You may still love doing dentistry but want less stress. How is your body holding up? Do you have enough money to retire? How much is your practice worth? Contact your transition consultant/broker and have a...Read Moreby omniadminJune 20, 2022 Practice Management, Practice Sales, Practice Transtions, Seller Articles, Selling a Practice0 comments
