Most associates will ponder this thought at some point in their working careers. The Covid-19 Pandemic has perhaps bought this thought to the forefront for many associates who may be at a crossroads. Below is a reworking of an article I have written in the past. Traditionally, practice ownership was a rite of passage for…
So you have found a dental practice that meets your criteria and you have decided to purchase it. In this article we’ll discuss the sale process and what is required. 1) You need to have a buying entity setup. Ideally have this setup when you know you’re interested in ownership rather than when you find…
Profitability Vs Cash Flow This is perhaps one of the least understood aspects of dental practice ownership. I have even had dentists who have been owners for many years fail to understand the difference. For any new practice owner in today’s high risk climate it is important they understand this concept thoroughly before embarking on…
**The Biggest Challenge Facing Dentistry** Someone asked me what the biggest challenge facing dentistry is going to be in a post-covid world. Simply put – the biggest challenge will come from within the profession. It will be significant price discounting. I’ve written about this before. I think the most susceptible areas will be medium SES…
One aspect of practice purchase (or sale), that isn’t often considered is the leave entitlements for employees and their transfer to the new owner. There are quite a few aspects to this but it is important that you use a good commercial lawyer for a purchase transaction as there are a multitude of factors that…
**The Struggling Branch Practice** Over the years we have analyzed over 15 practices that we consider to be a, ‘struggling branch practice’. We have noticed a common theme amongst these practices. 1) Almost always the owner has had another good to excellent practice (in terms of turnover) not far away (within 20-30 mins drive). 2)…
Covid-19 & Dental Practice Sales 𝐴 𝑀𝑈𝑆𝑇 𝑟𝑒𝑎𝑑 𝑓𝑜𝑟 𝑒𝑣𝑒𝑟𝑦𝑜𝑛𝑒 𝑐𝑜𝑛𝑠𝑖𝑑𝑒𝑟𝑖𝑛𝑔 𝑏𝑢𝑦𝑖𝑛𝑔 𝑜𝑟 𝑠𝑒𝑙𝑙𝑖𝑛𝑔 𝑎 𝑝𝑟𝑎𝑐𝑡𝑖𝑐𝑒 The impact that Covid-19 will have on the dental practice sale market is uncertain. However, we are beginning to see activity in the market that provides us with greater clarity on how things may play out. Firstly, the government…
Government Economic Stimulus Package – What it means for the economy and YOUR DENTAL PRACTICE A few people have asked me for my views on the stimulus package including practice owners, associate dentists, supply company reps as well as others in business, more broadly. Firstly, let me begin with a BIG CAVEAT. The economic…
We assess many practices every year from all around the country, whether it be associates looking to buy in to the place they work to people purchasing a second practice. Even in divorce cases where spouses are looking at appraisals for the purposes of asset splitting. Something we are seeing more and more, which I…
Post 7: Finish Hi, welcome to our final blog post detailing the construction of our brand new 8 chair purpose built dental facility. We have now moved in. We’ve written a recap of the process below along with photos. On Monday 13th January, we moved my first ever dental practice (which I bought back in…