by omniadminMay 28, 2021 Buyer Articles, Practice Management, Practice Sales, Seller Articles0 comments
The Business Side of Dentistry – Theft and Embezzlement
By Kevin Brady, Practice Transition Advisor Experts estimate that more than 40 percent of dentists are embezzled with an average loss of $50,000. But, because the embezzlers often steal small amounts of money over many years, the thief is never noticed. The US chamber of commerce estimated that 75 percent of employees steal from their workplace and that most do so repeatedly. A majority of...Read Moreby omniadminApril 12, 2021 Practice Sales, Practice Transtions, Seller Articles, Selling a Practice0 comments
Transition Announcement and Patient and Team Retention
By Megan Urban, Practice Transition Advisor In my experience, sellers get concerned with the “correct” time to tell their team about the transition. We recommend informing them when all documents or some are signed and there is no doubt the sale will go through. It may be 2 weeks or 2 days before closing, it depends, and your transition advisor will assist you. If you tell your team too early,...Read More6 Steps to Selling a Dental Practice
Dr. Cindy Pauley, Practice Broker with OMNI Practice Group, breaks down the process of selling your dental practice into 6 steps. https://youtu.be/Tcg9_8ReVT0Video can’t be loaded because JavaScript is disabled: Six Steps to Selling a Practice (https://youtu.be/Tcg9_8ReVT0) Read MoreHow to Determine the Selling Price of Your Practice
Want to know how you can determine the selling price of your practice? Do you know why it is smart to hire dental practice brokers? Watch the eighth episode of the Dental Marketing Podcast with Chris Pistorius, Founder & CEO of Kickstart Dental, and Megan Urban – Dental Broker at Omni Practice Group, to get your answers! https://youtu.be/HIEbJrkE7YkVideo can’t be loaded because...Read MoreDentist Entrepreneurial Summit 2021
What you receive when you come to the GIG M.BF. Entrepreneurial Mastermind Summit: The GIG M.B.F. Entrepreneurial Summit is designed as a total support system for Dentists/entrepreneurs with their sights set on “sky’s-the-limit” growth and the freedom to create the kind of richly satisfying life they dreamed of when they made the decision to become a dentist. With all the...Read MoreThe Importance of Owner Flexibility
You shouldn’t expect to sell your practice overnight. For every practice that sells quickly, there are a hundred that take many months or even years to sell. Having the correct mindset and understanding of what you must do ahead of time to prepare for the sale of your practice will help you avoid a range of headaches and dramatically increase your overall chances of success. First, and...Read Moreby omniadminFebruary 11, 2021 Buyer Articles, Buying a Practice, Practice Management, Practice Sales, Seller Articles, Valuation0 comments
When is it Time to Value Your Practice?
By Kevin Brady, Practice Transition Advisor Transitioning the practice is probably one of the biggest decisions a dentist will make in their career. Deciding whether to transition the practice to a partner, associate, a new dentist, or corporate dentistry, you will need a plan and experts to help you make the right decision. 3 to 5 Years Before Retirement Having a financial plan when you are...Read MoreWhy We Chose to Sell Early in Our Careers and What We Learned
By Cindy Pauley, DDS, Practice Broker Early retirement in dentistry is different than most fields. For most people working life involves a minimum of 5-7 career changes. With dentistry, we generally sign up for our entire working life. So, anything less than a lifetime can be considered early. And so our story begins… My husband is in our office between patients massaging his aching thumb...Read Moreby omniadminJanuary 15, 2021 Practice Sales, Practice Transtions, Seller Articles, Selling a Practice, Using a Professional0 comments
Selling Your Practice Yourself – Penny Smart and Dollar Foolish
By Rod Johnston, MBA, CMA, Practice Transition Advisor You’ve heard the stories of people doing their own electrical work on their house only to be electrocuted when they try fixing the bathroom light while standing in the bathtub full of water. Or the person who decides to fix his brakes on his car only to accidentally cut his brake line and end up driving off a cliff. They have awards for...Read Moreby omniadminNovember 20, 2020 Practice Management, Practice Sales, Practice Transtions, Seller Articles, Video0 comments