Have you ever thought about how successful people like Aprio’s Steven Au and Justin Schafer assist dentists in transitioning their practices? Have you thought about what it takes to value your practice in the near future?

On this episode of the Dentrepreneur Show, Dr. D. Todd Russell welcomes two guests from Aprio, LLP,  Justin Schafer, and Steven Au. With over 13 years of experience, Justin Schafer is the Director of Practice Transitions at Aprio, LLP. Justin is a recognized dental industry leader who guides clients through practice transitions, mergers, real estate purchases, banking, debt restructuring, and practice financing. Steven Au is the Senior Manager of Dental Transitions Regional Sales at Aprio, LLP. He specializes in providing custom solutions for every stage of the dental practice lifecycle, working with single practitioners, multi-location practices, and larger dental service organizations. Together, they work closely with all parties involved in the transition of ownership of dental practices to ensure successful closing and smooth transitions.

They will discuss their prior involvement in the dental industry and how their understanding of the clinical side has helped them assist dentists in transitioning their practices. The episode covers topics such as the importance of planning for retirement and dental practice valuation, as well as the benefits of working with a company like Aprio.

They will touch on such topics as:

• How they started in the industry, their positions and roles in Aprio, LLP, and when to start thinking about selling a practice.
• How to prepare for retirement, the two-fold approach to exit planning, and finding balance and not being afraid to pivot.
• The importance of knowing and being involved in the area in which you're selling, the steps to prepare for a potential buyer, and keeping the books clean.
• Streamlining the transition process for buyers and sellers and establishing a good cadence up front: “The dental service market is healthy and fit for the right buyer and seller.”
• Steven's thoughts on DSO and how private equity is changing the landscape of dentistry.
• Their advice for people who want to sell, and how to make more money by increasing profitability.
• Their good and bad experiences in real estate transactions, how they were influenced by people in the field of dentistry, and connecting with the community: “Disciplined people are the best people to surround yourself with.”

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Connect with Justin:

• Email: [email protected]
• Website: https://www.aprio.com

Connect with Steven:

• LinkedIn: https://www.linkedin.com/in/stevenau1/
• Website: https://www.aprio.com

Connect with Dr. D. Todd Russell, DDS:

• Website: https://dentrepreneurllc.com/
• Youtube: @DentrepreneurShow
• LinkedIn: Dr. D Todd Russell, DDS
• Twitter: @drtoddrussell

Quote:

“Retirement should not come as a surprise, dentists should spend an enormous amount of time preparing and earning the right to have the degree to be able to set themselves up for success in the future. Exit when they want to on their own terms.” - Justin Schafer