Dental practice start-up success: We’ll discuss the main factors that influence the success of a dental start-up in this article. Please note these factors do not include start-ups that bring across an existing patient base. Location: The location of a start-up is the most important of these factors. We’re not talking the micro location…
**What to ask for when analysing a practice for sale** When analyzing a practice for sale it is important you receive certain important pieces of information from the vendor or broker. The purchase of a dental practice is a significant financial outlay and you must have the appropriate information in order to analyze it…
Two of my startups are located within a medical centre with allied health. 10 of my other 11 practices are in a centre that also has a doctors surgery.
It’s the time of the year that many practices will be reflecting on the past financial year. Profit and loss statements will be produced and tax returns completed. For many practices it was perhaps the best financial year in their history. Owners will be considering expanding or developing their own premises. New South Wales or…
The importance of the items fee report We wrote about this several years ago but have found it more relevant recently and we have accordingly provided an updated version below. The items fee report is perhaps one of the most underutilised pieces of information when considering whether to purchase a practice. Each practice management…
**The Lease Offer** You’ve found an excellent area to start-up in and tenancy to lease. Now what? The landlord or its agent will provide a lease proposal or heads of agreement. This covers the key terms of the lease and is negotiable. However, it is important to note that any lease proposal or heads of…
Associate buy-in & Corporate offers This is an interesting and somewhat controversial topic. The scenario typically unfolds in the following manner. A dentist owner nearing retirement starts to think about selling their practice. They ideally want their associate dentist to buy-in for a share of the practice or to purchase it outright. However, the owner…
The Haggle When we purchase items such as a television or a car we all want to feel like we got the best deal possible. It is disappointing when we find out our friend got a better deal on that new television or that new car. People try to translate this over when purchasing a…
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…