Our organization has found that more dentists than ever are selling their practices and moving on to an active retirement or a new vocation. The retirees who postponed their retirement due to the stock market decline post 9/11, the baby boomers who are beginning to retire, and the dentists who are moving to new areas have created an increase in practice sales. In the metro areas around the country,... More »

While recently moving toward the closing of a large general practice, the buyer’s attorney reminded me that the “DEVIL WAS IN THE DETAILS.” When it comes to dental practice transitions, no truer words have ever been spoken! While price, covenant, and possession date may be the most obvious issues, I would like to discuss some of the finer points which have derailed any number of proposed purchases... More »

Before buying or selling a dental practice, great care and planning should be taken to consider the TAX CONSEQUENCES regarding the allocation of the sale price to the various assets involved in the transaction. Typically, the group of assets that would be sold between the selling party and buying party would include dental supplies, furniture, fixtures, and equipment used in the practice, patient... More »

There are several ways in which dentists can grow their practices. Some of these methods range from expensive marketing campaigns to expanding services or products offered to patients. Although these methods may prove to be effective, we have found the best and most profitable way to grow a practice is a “practice merger.” In essence, a practice merger involves the complete movement of a seller’s... More »

In the peak of your career, SELLING YOUR PRACTICE may seem too far in the future to consider in any detail. On the other hand, with retirement on the horizon, the prospect of your career’s end may feel overwhelming. Either scenario can prevent the wheels of planning from turning. Although early planning is always ideal, it is never too late to develop a strategy for selling your practice. Abraham... More »

There is nothing more comforting than knowing that EVERYTHING IS GOING TO BE ALL RIGHT. Whether it’s a small child with her favorite teddy bear or your insurance being in “good hands,” the knowledge that a project will be handled properly gives you peace of mind. The same is true of a practice broker. When a doctor hires a broker to handle the sale of his or her practice, the selling doctor must have... More »

Last month, we talked about the importance of protecting your most important asset, YOUR DENTAL PRACTICE. We compared your practice to a three-legged stool, and discussed two legs of that stool-life and disability insurance and forming a death and disability survival group. This month, we’ll look at the third leg of the stool, preparing your practice for sale now. To ensure that your stool is properly... More »

In this day and age, it is critical that you PROTECT YOUR ASSETS as you strive for financial independence and financial security in retirement. I have found during my 36 years of working with dental professionals that often their most important asset, their dental practice, has not been adequately protected when the unexpected happens, such as death or severe disability. Without question, this asset... More »

Having been involved in DENTAL PRACTICE TRANSITIONS for 20 years, I frequently find that the seller would like to stay on and practice on a limited basis after the sale. This can have several advantages for the selling dentist. Even when the need for money is not a factor, practicing part time in the practice the dentist formerly owned provides him or her with some income to help cover living... More »

If there is a time when it is more important to pursue the assistance of a a good dental practice broker, it is when an unexpected death or a career-changing disability occurs. When we have been chosen as the practice broker in these cases, mutual-assistance groups have played an important role and have been greatly appreciated. I have worked with several mutual-assistance groups. With this in mind,... More »