by omniadminOctober 3, 2021 Practice Sales, Seller Articles, Seller FAQ, Selling a Practice0 comments
Dental Seller Preparation Checklist
The best time to start preparing for your practice transition is three to five years from the date you plan on selling your practice. Since you may not really know that date, the best time to prepare is NOW! Here is a checklist of things you should do as you get closer to deciding to sell your practice: ___ Meet with your Financial Advisor – Discuss with your financial advisor that you are...Read MoreSeller Carrybacks and Dental Practice Transitions Today
By Jen Bennett, Practice Transition Advisor You’ve heard the term “Seller Carryback,” but what does it mean? Seller carryback financing is when the seller of a given property, or in this case, a seller of a dental practice and assets, acts as a lender for the buyer if a conventional bank will not offer the full amount that the buyer needs to close the sale. Years ago, it was commonplace for a...Read Moreby omniadminJuly 12, 2021 Practice Sales, Practice Transtions, Seller Articles, Selling a Practice0 comments
What is My Practice Worth?
By Megan Urban, Practice Transition Consultant Have you ever said something like this? “In the 90’s I was producing over $1.5M. Five years ago I was producing $900,000. My practice must be worth at least $1.0M and this area has huge potential.” Value is not based on “long ago past” numbers nor “potential” numbers. Buyers don’t pay for what you did over 3 years ago nor potential. They have to...Read Moreby 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
