You’ve made one of the most significant transactions in your career, and you’re now the proud owner of a dental practice. Now you have to face your next hurdle: gaining new patients while also retaining the base. Fortunately, there are many steps you can take to ensure a smooth transition for the team and patients. In this episode, Christy and Charles discuss tips for rebranding the business, nurturing the existing patient base, and positioning yourself to market to new audiences.

Many buyers and sellers strive to close their practice sale by the end of the calendar year. Although this seems like a natural and satisfying bookend to the year, both waiting or rushing to close a deal will only cause unnecessary pressure. Whether your goal is to close on your practice sale before the year ends, or you have a different deadline in mind, Christy and Charles emphasize in this episode that time can kill deals. The co-hosts explain common hinderances in the deal process and provide helpful tips on meeting your closing goals.

For dentists, and especially practice owners, it’s not easy to wear all of the hats, day in and day out. From the daily grind, managing employees, and handling difficult patients, it can all lead to stress and exhaustion, which can eventually result in burnout. Christy and Charles pull from their own career experience and client stories to offer insight and tips for navigating burnout. Their key message: With the right tools and support, you can maintain a feeling of balance and positivity in your career.

A valuation is more than applying a dollar amount to a business; it’s about thorough diligence and understanding the variables that tell the business’ story. Take a deep dive into this chapter as Valuation Manager Bryan Gooden helps break down the intricacies and offers his experience on valuations across multiple industries.

While start-up dental practices offer a blank slate to design the practice you’ve always envisioned, not having the built-in patient base and cash flow that a practice acquisition typically provides can be a big challenge. When it comes to specialty start-ups, this adds a different level of complexity. In this episode, we break down which specialties are in demand, which involve higher costs to launch, and which carry the most competitive pressure.

What factors make for a “Don’t Mess This Up” opportunity versus a “Buyer Beware” opportunity? This episode speaks to the buyers out there, helping to identify the differences between the right and wrong practice opportunity. Tune in as we take a look at the financials, doctor work, real estate, location and other aspects to consider as you explore different opportunities.

This episode originally aired May 18, 2022.

Once you’ve sold your practice to a new owner, the reality of retirement can feel different than expected. With a lower income and a new routine, this next chapter can bring some uncertainty. Building a strategic plan can help you feel confident about the road ahead. Christy and Charles offer key considerations, from filling your time, budget management, tax planning strategies and more.

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This blog provides a list of operational responsibilities to ensure the practice is ready for new ownership: https://bit.ly/47eyTu4.

What dental buyers valued in a practice a decade ago isn’t the same as what they prioritize today. Buyers are diving deeper into the due diligence process, have different desires surrounding location preferences, real estate purchase options, and practice data, among other things. NDP Practice Listings Manager Kathy Whiting shares her experience, illustrating how buyers’ preferences have shifted throughout the years. The key message for selling doctors: As buyer priorities evolve, sellers who adapt can showcase their practice in a way that stands out to the right buyers.

Purchasing a dental practice comes with unique challenges and variables at every stage of the process. Whether you’re doing your due diligence on a practice opportunity or finalizing your letter of intent, soliciting guidance from a professional can help bring confidence along every step of the way. Christy and NDP Head of Consulting Bridget Schwebke discuss the various options our buyer consulting service offers and how it’s designed to help you achieve a smooth transition to ownership.

While the financial pieces often dominate the conversation in a DSO sale, there are many more factors involved in the process other than EBITDA and multiples. Christy and Charles help practice owners take a step back and understand all the key considerations when partnering with DSOs. From how the practice value is truly calculated, your preferred workback timeframe and your life after the sale, understanding these components will help you set the right expectations.