In the real estate market, staging has become a huge part of the successful sale process. Staging is the act of preparing a space for sale with the goal of making the property more appealing to a larger group of potential buyers. Successful staging results in sale prices between 6-20 per cent higher than unstaged properties.
Staging A Dental Practice Read More »
This is the 75th edition of The Professional Advisory. To mark that milestone, I would like to review a major shift in the dental market that has occurred in the 15 years we have been publishing, and how this change affects practice values and represents significant challenges for ongoing success into the future.
Patients – Attract and Retain Read More »
Many practices are not saleable in their present state. Due to the high level of competition in the dental market, buyers are looking for practices that are either: 1) Very well established and have enough critical mass so as not to depend on the location to produce new patient flow, or 2) Are in locations that have proven track record (or clear potential) of attracting and retaining a significant number of new patients.
Is There a Buyer for Every Practice? Read More »
Approximately three years ago, we wrote an article in Volume 59 of The Professional Advisory entitled What Will Happen to Dental Practice Values in the Next 10 Years?
Good, Better, Best – The Market has Spoken Read More »
What do your patients think of you and dentists in general? I recently heard this from a client, “I had a patient in one day last year. Since I wasn’t very busy that afternoon, I re-presented a huge case to him. Although he wasn’t sure about moving forward, I finally convinced him that this procedure was a good idea, proceeded to complete the procedure, and I had a very profitable afternoon. That is what efficiency and case presentation skills are all about!”
Patients, Patience, Patients Read More »
We get this response from many dentists when discussing their practice and future plans. While it is a fact that you don’t need a valuation until you sell, there are many reasons that having a practice valuation that is regularly updated may prove to be a valuable part of your long term business planning. In addition, it may help to make your practice more valuable when you do decide to sell.
Why Do a Practice Valuation? I’m not Selling Read More »
In our business as dental practice valuators, most of our practice valuations are for dentist’s who are not planning to sell their practices for at least five years, but want to make their practice more valuable for the future. We are constantly asked about whether or not the adoption of new equipment and or technology can increase the value of a practice.
Do dental equipment and dental technology affect a practice value? Read More »
In today’s competitive environment, the business of dentistry is inextricably woven in with the clinical aspect of dentistry. For many dentists, this development is juxtaposed from their beliefs regarding their responsibilities as a health care professional. There are many ways to measure success in dentistry. Is it the beauty and fit of your crowns? The number of new patients you get? The tenure of your staff? The financial results of your practice? Your happiness? Of course all of these are important factors and everyone will place different emphasis on each. We will take a look at the dental practice as a business and examine the factors that should be considered to keep that business vital and valuable.
How Well Do You Know Your Practice? Read More »
Yes, it’s true, that due to a combination of factors, the values of dental practices are on the rise. As a result, we are often asked the question, “When is the right time to sell my dental practice?”, and, “Have we hit a ceiling on these values?” While the answer may be as simple as “Sell it when you want to retire”, I think that the true question that we are asked, is When Is the Right Time to Sell My Dental Practice for the highest price that also provides me with the flexibility to commence the next stage of my career.
When Is the Right Time to Sell My Dental Practice? Read More »
If you would like more information regarding our services, please reach out anytime. Our PPS Team look forward to connecting
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