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Forcing the Value to Cash Flow

…rates in the 5-6% range. In the past, the standard was a 7-year financing term, but that term is rare these days. There is a handful of banks that offers a 15-year, or more, financing term to accommodate the buyer’s cash flow, but still wants the analysis to be able to pay back the loan over no more than 10 years. If the cash flow does not support those requisites, the practice either is priced too high or is the wrong one for the doctor. Are the…

Dental Practice Sales During COVID-19

…dental industry would be too profitable for banks to ignore over the long term.If you are looking to buy or sell a dental practice, you should definitely understand how the landscape has changed due to COVID-19. We help match dental practice buyers and sellers, giving our insight every step of the way. Contact us today to learn more.References:[1] https://www.ada.org/en/science-research/health-policy-institute/covid-19-dentists-economic-impact[2]…

How to Prepare to Buy a Dental Practice With Less Stress

…y Schein PPT consultants can help gather all this pertinent information. Determine the fair market value Given the size of the investment, you’ve got to make sure you get it for a fair price. Henry Schein PPT consultants will help you get a practice appraisal to determine the fair market value of the practice you’re interested in, so that you can make the right offer. We’ve done thousands of appraisals in all 50 states, so we know exactly how to e…

Dental Practice Transition Communication — Focus on the Team

…stress contributes even further to a bond between the doctor and the long-term dental team members. Therefore, the transition to a new doctor can be a significant life event for these team members. During a dental practice transition , ensure goodwill by communicating openly The team’s role in the sale of a practice and the subsequent dental practice transition is a major factor that can significantly influence the goodwill of the transition. Whe…

How to Market Your Dental Practice for Success

…see your hours, location, website domain, and other information when they search for your business or service. For example, if people in your area search “dentist near me,” and you’re listed on Google My Business, your information will likely pop up. Everyone loves a discount Let’s face it—everyone wants to get a deal. Whether it’s on something as small as their groceries to something as huge as a car, if someone receives a discount, they’re like…

Dental Practice Staffing: How to Attract the Right People

…of the position, as well as the doctor’s expectations. When beginning your search, it’s important to search for employees in the right places. According to the Pride Institute, one of the most effective ways to find the best employees is through “networking” or word-of-mouth referrals. Your future staff member is probably looking in places such as Craigslist, or the newspaper. Social media is also a great way to spread the word. Consider using you…

Planning Early for the Year Ahead

…cal management are key ingredients to your success, whether you have short-term or long-term transition plans. Interested in having Dr. Snyder speak to your dental society or study club? Hear Dr. Snyder’s FREE podcasts at The Dentist’s Network Previously written for and published by: Henry Schein Professional Practice Transitions, Inc. is a national leader in dental practice transitions . A subsidiary of Henry Schein, Inc. they provide expert guid…

What is Your Plan for 2017?

…nterest is becoming more common. “Locking in” a qualified buyer with short-term employment and then a complete sale appears to be on the increase as well. These deferred sale transitions should require a down payment of at least 10% of the sale price. Multiple office ownership is also becoming more commonplace. In addition to the Dental Support Organizations (DSO) impacting the dental profession, there is a growing trend of younger, private practi…

BUYING A DENTAL PRACTICE

…ne who establishes their own practice earlier on will make more money long term than the one who works initially as an Associate. There is no way for the student who works as the Associate to make up the difference in income over the long term. What will the lender be considering when thinking about financing my practice? Major lenders will review many aspects of the practice, the sales agreement, and your own personal clinical capabilities. They…