Dealing with a short term lease in the sale of of a dental practice requires some extra effort, but it is not an insurmountable issue. The target for banks who are funding a loan for the buyer of the practice is at least 5 years of term on the lease, with many dental leaders requiring…
Every dental office sale requires that dental buyers, dental sellers, and attorneys agree to several, major deal points within the asset purchase agreement. Keep in mind that these negotiated deal points come after both parties have agreed to price and timing, and, while most of them are typical in the business-selling world, some are specific…
In this weeks episode, we talk with Dr. Landon Libby and his wife and right arm in the practice, Nichole Libby. In five years they’ve purchased three dental practices, rolling each new practice into their own. Through leadership and culture management, they’ve built a premier practice. Listen and learn how they did it.
Preparing your dental practice for sale is much like selling any other business. When you increase income and decrease expenses, the value goes up. Conversely, if you have high overhead relative to your collections, the value of your practice decreases. High overhead might be attributable to Staff costs that exceed the dental industry average. For…
In today’s show, we interview Dr. Nick Marongiu. Nick owns and operates a very large, single-location multi-specialty practice in La Jolla California called Scripps Center for Dental Care. We learn about Nick’s journey from Loma Linda, where he graduated in 2010 to stepping into a strong practice in 2013 as a partner and then doubling…
Episode Summary: In this episode, we dive deep into the intricacies of valuing dental practices, particularly in the context of partnerships. We break down key valuation concepts for general practitioners (GPs) and how factors like cash flow, overhead, and goodwill contribute to a practice’s overall worth. We also explore different partnership models, including associate buy-ins…
The year 2021 will g down in the books as our “rebound” year-the year the dental industry clawed its way back to the new normal after COVID. Most dental practices experienced a robust rebound as patients came back after long absence from treatment. This led to increase collections, full schedules and, oddly, a challenging labor…
What makes for a happy “business marriage” between two or three dentists? Why do dental partnership fail at frequently? Will a dental partnership help me compete more effectively in the dental market? In this episode, we interview Bob Spiel and Bryton Nield, founders of Dentist Partner Pros (formerly Dentist Hiring Pros). Bob and Bryton spend…
Episode Summary: In this episode, we dive into the essentials of forming a successful dental partnership—a vital strategy in today’s challenging economic landscape for dental practices. Our host draws on over 15 years of experience to highlight the financial benefits of partnerships, explaining how joining forces can alleviate cost pressure, increase profitability, and create a…
Valuing Dental practice is one part science and one part emotion. The science is the numbers—what the bank sees and uses to calculate the amount they will loan. The emotion part is everything else—the location of the dental office, condition of the equipment, the patient base, the recall program and many factors. As mentioned in…