Want to Purchase a Practice?
By Megan Urban, Practice Transition Advisor Want to purchase a dental practice? Here is a basic starting To-Do List to get you going! – Where do you want to practice and where will you and your family be happy? – Get your last 3 years of personal tax returns together. – Gather your debt details: student loan, credit card, mortgage, etc. – Start to look at your current...Read More7 Questions to Ask When Forming a Partnership
By Jim Vander Mey, CPA, ABI, Practice Transition Advisor You and your friend from school want to purchase a practice together. Here are just a few questions to ask. A sole owner is often an easier path to ownership, but partnerships can certainly be successful. But like any healthy relationship, it requires work. To help prepare consider getting together with your business partner, turn off...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 MoreMarket Prices of Veterinary Practices – A Closer Look
By Corey Young, Practice Transition Advisor “What are practices going for?” I get asked this question a lot. I like to ask the following question back. Are you buying a house to live in or a rental unit? This of course usually gets me a confused look, as the person asking me this is looking for a practice and not a property. Let me explain my analogy. A residential house is a...Read MoreMarket Prices of Dental Practices – A Closer Look
By Corey Young, DDS, Practice Transition Advisor “What are practices going for?” I get asked this question a lot. I like to ask the following question back. Are you buying a house to live in or a rental unit? This of course usually gets me a confused look, as the person asking me this is looking for a practice and not a property. Let me explain my analogy. A residential house is a...Read MoreSteps to Purchasing a Practice
Happy New Year! Thank goodness 2020 is over and we can start looking forward to 2021. We all hope this is a year of change. We hope to begin getting control of COVID-19 with vaccines and some immunity for those who caught and survived COVID. There will be a change in the Presidency. Hopefully, there will be a change and restaurants can be fully open again. But what about you? Is this the year...Read MoreImportant Information for Associates
Frank Sciabica, DDS, and broker at OMNI Practice Group offers some words of advice for dental associates. If you have questions, call Frank at 425-985-8390 or email frank@omni-pg.com. He’d be happy to help! https://youtu.be/JJy5iQaUyK8Video can’t be loaded because JavaScript is disabled: Important Information for Associates (https://youtu.be/JJy5iQaUyK8) Read More5 Elements of a Successful Practice Purchase After COVID Emergency Shutdown
What a year it has been. Dental practices went through a mandatory shutdown for three months or more. When the practices re-opened, no one knew what to expect. There were dentists in the middle of purchasing a practice or even doing a startup. These potential new practice owners knew what they were looking for when there wasn’t a pandemic. But it is a whole different ball game now. So,...Read Moreby omniadminNovember 12, 2020 Buyer Articles, Practice Sales, Practice Transtions, Seller Articles, Video0 comments
Accounts Receivables in a Transition
Buyers and Sellers – One of the things to look out for in a dental transition is Accounts Receivables. What should you be looking for? Megan Urban, Practice Transition Advisor with OMNI Practice Group, will get you started: https://youtu.be/VyTMEqdMY50Video can’t be loaded because JavaScript is disabled: Accounts Receivables in a Transition (https://youtu.be/VyTMEqdMY50) Read Moreby omniadminNovember 3, 2020 Buyer Articles, Buying a Practice, Practice Management, Video0 comments
