No one likes to talk about death and most people assume that their death will occur after they have retired.  Unfortunately this is not always the case.  Some dentists pass away while they are still practicing dentistry and still own their practice.  One of the hardest aspects of our job is assisting the family through […]

When new clients call to have their practice appraised or sold they almost immediately want to know what it’s worth.  I can’t tell you the number of times doctors have started to rattle off their recent collections and expect an immediate answer as to the worth of the practice.  If only it were so simple!  […]

Practice Impact advises our buyers and sellers not to ignore the small tasks in a transition because they seem trivial.  No matter how small a task seems, if we are telling that it needs to be done it’s because these tasks are crucial to the practice and must be completed to avoid negative repercussions for […]

Frequently Asked Questions When Making the Decision to Add an Associate to your Dental Practice

1.    What are the signs that a dentist needs an associate?
A dentist is typically ready to add an associate to the practice when the number of active patients exceeds 2,000 in a general practice, 4,000 in a pedo […]

We are often asked by new dentists or dentists new to looking for a practice to buy, what steps they need to take in order to buy a dental practice.  A few buyers employ an advisor to help them through the entire process, but most wait until they have found a practice they are seriously […]

Why Use a Broker to Sell your Dental Practice? This is a good question to ask yourself, but when you are contemplating selling your practice the answer should be “because selling my dental practice is not something that I should do by myself.”

In order to sell a practice on your own, you will need […]

How and When to Become an Owner

Purchasing a dental practice is major life decision and one that should not be taken lightly.  Before deciding to become an owner there are several things to consider and questions that you must ask yourself.

• The only true way for […]
  

1. Plan Ahead: On average, it takes 6-18 months to sell a dental practice, depending on the practice and location.  You will need to give your broker time to properly market the practice and get you the best possible offer.  You will need to be patient and continue working while your practice is on […]

One in three dentists nationally will become disabled this year.  What would happen to your future if you became disabled? Most people purchase insurance to protect their home, auto, and business; however, they neglect to protect their greatest asset in their quest to become financially independent: their future income.

Disability and life insurance can provide protection […]

When we visit a practice or speak to a doctor, the single most frequently asked question that we hear is “How do I know when I am ready to transition my practice?”  The answer to this question lies with two other questions.

1.   Am I financially prepared for the sale of my dental practice?
2.   Am […]