Most dentists are under-prepared and under-represented when making the most important decisions of their career:
buying or selling a dental practice.
We provide dentists with peace of mind throughout the practice purchase process by performing thorough due diligence, with the expertise to know what to look for, how to find it, and what the information means.
Every dental practice is unique, and it is unlikely that two dentists will have identical clinical and managerial philosophies. We understand that no two dental teams are alike and know the importance of identifying vast differences. We understand the inner workings of a dental practice, dental practice management, and transitions. This provides an enormous advantage in helping clients determine whether the practice is in line with their goals.
The Dental Business® Practice Transition clients receive clarity, experience less stress, save money, and feel good about their practice purchase.
We assist dentists with the preparation and sale of their practice. We provide them with guidance through the steps necessary to protect the value of the practice, and empower them to transition on their terms.
When a dental practice owner waits too long to prepare for the transition of their practice, we see lower practice values, and a dentist with less control over the sale of their practice and their Legacy.
We assist dental practice owners throughout the transition process and work to ensure they have control over the transition of their practice, receive a fair price, and leave a legacy they are proud of.
A Practice Valuation (appraisal) provides a dental practice owner with the market value of their practice.
It is an essential tool for dental practice owners when developing an emergency exit strategy and planning for retirement, for protecting the value of their practice, having control over the sale their practice, and protecting their legacy.
It is our belief that every dental practice should have a base line valuation and have it updated every three to five years.
A valuation is a lifeline for the immediate family of a dental practice owner who unexpectedly dies. It’s impossible for loved ones in mourning to have the presence of mind to find all documentation needed for a valuation, and make all the decisions necessary to transition the practice in time to protect the value of the practice.
As the value of a dental practice tends to drop ten to fifteen percent per week when the owner dies, it’s essential to have a valuation available to begin the process of selling the practice immediately.
We have heard the question posed: I have invested well and have good life insurance, why do I need an Emergency exit plan? This is a great question, and the answer relates to something most dentists do not consider: In not having an emergency exit strategy, you are throwing away another life insurance policy; the value of your practice. In addition, and most importantly, you place your family and your team in the position of making decisions for which they are not prepared, and at the most vulnerable of times, while they are mourning your death.
The years of sacrifice you made to attend school and eventually own your own dental practice can be wiped away in a matter of weeks.
You can protect your family, team, practice value and your legacy.
When a dentist dies or becomes permanently disabled the value of their practice falls between 10 and 15 percent per week. Without an exit plan and an emergency directive, it is nearly impossible to protect the value of the practice, and in these situations the practice is often sold off in pieces.
You have the power right now to direct the transition of your practice and protect your Legacy by implementing an Emergency Exit Strategy and an Emergency Directive.
Every Dental Practice owner should have both.