Q&A on Covid’s Effect on Practice Values and Sales
By Rod Johnston, CMA, MBA, OMNI Practice Group As dentists start going back to work and opening their offices, they have a lot of questions on their minds. The questions range from Human Resources related questions to questions on selling their dental practice. While I am not an HR expert, I can answer the questions on practice values and sales. Or, at least, I can give my thoughts and...Read MoreSell a Dental Practice Now?
By Corey Young, DDS, MBA, CVA What a crazy time we are in. At least to me, this is a sober reminder that major disrupters are almost impossible to predict. I am reassured that our nation seems to be taking the situation seriously and I do firmly believe we can weather this storm. Most of you reading this are making difficult decisions about staffing, how to deal with emergencies, and how you...Read MoreSell a Practice Now?
By Corey Young, DDS, MBA, CVA What a crazy time we are in. At least to me, this is a sober reminder that major disruptors are almost impossible to predict. I am reassured that our nation seems to be taking the situation seriously and I do firmly believe we can weather this storm. Most of you reading this are making difficult decisions about staffing, how to deal with emergencies, and how you...Read MoreGoodwill in Dental Practice Value – For Sellers
By Megan Urban, OMNI Practice Group As many of you know, in the sale of dental practices, typically the biggest contributor in determining the purchase price is “Goodwill”. Are you aware of the aspects that make up goodwill? Of course, it includes your patients and business reputation, but it’s also based on patient retention, which is your hygiene program or Recare. Savvy buyers understand...Read MoreAre You Considering a “Dental Practice For Sale By Owner”?
Many dentists will seek to sell their practice by themselves, presumably to “save money”. Sometimes the grass is greener on the other side so we do things out of emotion instead of “doing the math”. If you have a couple of hundred hours of spare time and love working with intelligent, challenging people, and showing your dental practice to strangers on evenings and weekends, you are going to...Read MoreThe Many Different Types of Dental Practice Transitions
By planning your transition carefully and working with a trusted broker in the dental practice marketplace, practice sellers can ensure each element of the process is completed smoothly. But first, it’s important to learn more on the types of dental practice transitions available for those considering a sale. In this article, the team at OMNI Practice Group explains the processes involved in...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...Read MoreSelling Your Dental Practice? It’s Not as Easy as It Looks
I’m sure many of you have sold a car, boat, or a house by yourself. For the most part, cars and boats are pretty simple to sell. Even selling a house only involves a couple of pieces of paper, an escrow agent, and a few other steps. But selling your practice is another ballgame. Emotions get involved as you are attached to your patients, staff, and heck, you built this baby! There...Read MoreNot All Valuations are Created Equal
Practice valuations and those that value practices can come in all shapes and sizes. Did you know that there are probably 20 different methods you can use to value a practice? Did you know there are 5 to 10 different certifications or accreditations for those who value practices? Rule of thumb valuations are ones that are typically quoted and overly abused. The typical rule of thumb...Read Moreby omniadminJuly 2, 2019 Practice Sales, Practice Transtions, Seller Articles, Using a Professional0 comments
