While traditional financing is most often used to fund private practice acquisitions, seller financing can also be a tool to help pay for the purchase. Seller financing may sound like an attractive option, as many believe it offers the potential for better rates or terms, but that’s not exactly the case. To help you understand the full picture and implications, this episode discusses common scenarios and reasons for using seller financing, how it can help (or hurt) your transition and how to know if it’s a viable option for you.

As you begin your career as an associate, practice ownership may seem more like a dream, rather than a milestone within reach. In reality, the preparation should start early. Practice owner Dr. Dan Butterman and his associate and son, Dr. Kevin Butterman, continue their story from episode 130 and talk about their future partnership. They discuss their initial ideas, transition timeframe and how they’re ensuring that Kevin is not only prepared for the clinical work, but also the administrative and leadership aspects of the business.

Stepping into associateship after dental school can feel like jumping off the deep end. This phase is about learning quickly and mastering not only the clinical skills, but also the people and administrative skills. To give perspectives from both sides, practice owner Dr. Dan Butterman and his associate and son, Dr. Kevin Butterman, discuss how they’re bridging the gap between dental school and real-world experience, while setting the foundation for their future.

As you explore a potential practice to buy, how can you confirm that the opportunity is not only profitable, but also aligns with your personal and professional goals? This is where the due diligence process comes in. Charles and NDP transition consultant August Sandy give a rundown on what the process entails and how it can help provide reassurance that you’re making the right choice in a practice.

When the focus is on important life and career decisions, the thought of securing life and disability insurance often takes a backseat. We get it. No one wants to think about the “what if,” and there may not be any immediate circumstances pushing you to consider it. CWA Risk Solutions’ Tara Cain brings her insurance expertise to the podcast and discusses who needs it, when to get coverage, the ins and outs of applying for coverage and resources to simplify the process.

Once you’ve decided you’re ready to buy or sell a practice or take on the next career milestone, knowing where to turn first should be your next step. NDP’s Brandy Pecora and Alivia Youree discuss common questions, concerns and misunderstandings in the early phases of the buying, selling and valuation processes. Together, they illustrate what happens when you get the ball rolling with a dental transition advisor.

Coming out of dental school, the type of practice you work for should be a choice made with your long-term goals in mind. With the attractive financial packages, reduced risk and business responsibilities and a “fear of missing out” effect, it’s easy to see the appeal of DSOs over private practice. To help new dentists navigate the facts and make an informed decision, Christy and Charles weigh in on both DSOs and private practices and the situations where each could be the right fit.

“Rather than focus on building an income, focus on building yourself as an asset.” By leveraging a business mindset from the start and investing a significant amount in continuing education, Kentucky practice owner Dr. Friend Bechtel has built himself as a valuable asset. His tenacity has led him to overcome obstacles early and own a thriving practice today. Tune in for an episode packed with nuggets of motivation and advice as Dr. Friend shares his full journey.

Building a successful practice isn’t about following a specific formula. Rather, you create your own destiny with the path you choose. This episode dives into the story of Minnesota practice owner and NDP client Dr. Jason Spychala. Under his leadership, the practice has grown, they’ve built a new building, and he recently brought on his associate as his partner. Tune in to hear his ownership journey, his experience with the valuation process and how he found his path.

Bringing in an associate is one of the most significant opportunities for practice growth. With the right type of practice, plan and associate, the business can truly take off and thrive. From clinical goals, daily production numbers, continuing education and compensation, the considerations outlined in this episode will help ensure you’re prepared to welcome a new doctor.