Dental practices in general are growing. Dentists are taking more space and building bigger practices, buying neighbouring practices and merging them together, moving out of the “invisible” location and becoming more visible and accessible, extending hours and staying open on weekends. Why is this happening and what does it mean for dental practice values?
In Issue number 60 of The Professional Advisory, I provided my Top Ten List for Vendors. As a follow up this issue will have a similar theme, but this time I will focus on the Buyers. As a dental practice appraiser and broker I see what strategies work and what approaches do not work for buyers wishing to purchase a practice. This article will take a page from Late Show Host David Letterman’s monologue and enlighten you about my “Top Ten List” for Dental Practice Buyers.
Dave’s Top Ten List for Buyers (Vendors should read this too!) Read More »
s a dental practice appraiser and broker I am fortunate to be in a position where my daily activity is a window into what works and what does not work in terms of value creation in a dental practice. As practice values continue to soar, buyers are being very careful (as they should be); therefore it is more important now than ever that you and your practice are ready when the time comes to sell. This article will take a page from Late Show Host David Letterman’s monologue and enlighten you about my “Top Ten List” for Dental Practice Vendor’s.
Dave’s Top Ten List for Vendors Read More »
The demand for successful dental practices continues to grow and therefore the prices being obtained continue to rise. We believe that demand and accordingly, prices are at an all-time high. As a result of this phenomenon, we are frequently asked the following questions from our clients. Are we in a dental market bubble? What will happen to demand and prices over the next five to ten year period?
What will happen to dental practice Values in the next 10 years? Read More »
This article is not about how to enter into a lease or how to renew a lease. There are experts in that field (one of the best writes in this publication) and I would strongly encourage you to use the services of an expert at that stage. What I want to cover is why a premises lease is so important from a practice value perspective.
Your Premises Lease is an Important Asset Read More »
If you have a great associate consider yourself lucky but be very aware that things are not always as they seem. The associate role in dentistry is a long-proven way for principal dentists to expand their practices, take more time off, offer additional services, cover the evenings and weekends, find a potential purchaser, perhaps mentor a young dentist, and a myriad of other factors.
What are Associates Thinking? Read More »
The dental practice sales market has been extremely robust for the last several years. There is more demand than supply which has put upward pressure on prices. It is not unusual in this market to receive multiple offers on practices and in some cases achieve a sale for far more than the appraised value.
There is Life Outside the GTA Read More »
There are many options to consider when contemplating the most effective way to transition out of your practice. The dictionary describes merger as the joining together of two or more companies or organizations. In essence, a dental practice is like a small company. However many dentists do not consider the merger as a viable option because they do not understand how it will work or the many benefits for both parties.
Mergers are a Viable Option Read More »
The question of how you can grow your practice often comes up when we are presenting our findings after completing a Comprehensive Dental Practice Valuation. Many of our clients are surprised to hear us report that an associate may not be the best way to achieve that goal. Their understanding was that in order to grow they need more hands to do the dentistry and therefore an associate will provide for that.
Is Your Associate an Asset or a Liability? Read More »
Many practices sell for 100 per cent of the last year’s gross revenue. That is an undeniable fact but it does not mean that all practices sell for 100 per cent of gross revenue and it does not mean that your practice or the practice you are looking at buying is worth 100 per cent of gross revenue. It may be worth more or it may be worth less than that. Sometimes much more or less.
The 100 per cent of Gross Myth Read More »
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