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The Practice Purchased Podcast
The Practice Purchased Podcast
Learn the exact steps to find, analyze and buy the best dental practice. 20 episodes. 20 minutes or less. No outside ads. No fluff.
Blog By:
BHanks
BHanks

1.20 - When and How Much to Pay Yourself As a New Owner
Posted 1/2/2020 by BHanks in The Practice Purchased Podcast   |  Comments: 0  |   Views: 190
1.20 - When and How Much to Pay Yourself As a New Owner
One of the most confusing parts of dental practice ownership is knowing how to pay yourself. How do you know when to do it? How do you know how much? Listen to this episode to understand how to do the thing you're in business to get - money and control! And do it the right way... See more...  Read More
Categories: Practice Transitions
1.19 - The 5 Things That Must Be Done Before Closing Day
Posted 1/1/2020 by BHanks in The Practice Purchased Podcast   |  Comments: 0  |   Views: 77
1.19 - The 5 Things That Must Be Done Before Closing Day
There is a long checklist of things to do to get ready to own a dental practice you're buying, but it's impossible to get everything done and ready to go. There are 5 non-negotiable tasks that absolutely MUST be done and ready to go before closing day.  Listen to the second-to-last episode of...  Read More
Categories: Practice Transitions
1.18 - How and When to Complete Your Due Diligence
Posted 12/31/2019 by BHanks in The Practice Purchased Podcast   |  Comments: 0  |   Views: 106
1.18 - How and When to Complete Your Due Diligence
Due diligence when buying a dental practice is the art and science of ensuring that what you think you're buying actually IS what the seller and broker have told you it is. Listen to this episode to learn the best steps and best timing for your due diligence. See more episodes, full show notes,...  Read More
Categories: Practice Transitions
1.17 - The 3 Most Important Things to Start Immediately After the LOI is Signed
Posted 12/30/2019 by BHanks in The Practice Purchased Podcast   |  Comments: 0  |   Views: 101
1.17 - The 3 Most Important Things to Start Immediately After the LOI is Signed
You hired a team, found and analyzed a practice, and had your LOI accepted - but the work is just beginning! There is so much to do to get ready to own your dental practice so listen to this episode to learn the three crucial things to start immediately after you sign that letter of intent.  See...  Read More
Categories: Practice Transitions
1.16 - The Legal Documents You'll See and What They Mean When Buying a Practice
Posted 12/29/2019 by BHanks in The Practice Purchased Podcast   |  Comments: 0  |   Views: 33
1.16 - The Legal Documents You'll See and What They Mean When Buying a Practice
Listen to this episode to learn what legal documents you can expect to see and what they mean when buying a dental practice. Learn what to watch for, who will negotiate on your behalf and how to read the key documents that will transfer ownership of a successful dental practice into your hands.  ...  Read More
Categories: Practice Transitions
1.15 - How to Decide Between Two Dental Loans
Posted 12/28/2019 by BHanks in The Practice Purchased Podcast   |  Comments: 0  |   Views: 78
1.15 - How to Decide Between Two Dental Loans
Deciding between two bank loans when buying a dental practice can difficult, but only if you don't know exactly what matters and what doesn't.  Listen to this episode to learn what really matters, and what you can ignore when negotiating with the banks to ensure you choose the best dental loan....  Read More
Categories: Practice Transitions
1.14 - Exactly How to Get the Best Rates and Terms from Banks
Posted 12/27/2019 by BHanks in The Practice Purchased Podcast   |  Comments: 0  |   Views: 43
1.14 - Exactly How to Get the Best Rates and Terms from Banks
One of the scariest parts of buying a dental practice is getting a practice loan. Make the best of the necessity of going into debt and learn how to get the very BEST dental loan to buy your dental practice.  There is a right way to approach banks. You need to know which banks to approach, how...  Read More
Categories: Practice Transitions
1.13 - 3 Tips Using Psychology To Make Sure Your LOI Is Accepted
Posted 12/26/2019 by BHanks in The Practice Purchased Podcast   |  Comments: 0  |   Views: 41
1.13 - 3 Tips Using Psychology To Make Sure Your LOI Is Accepted
The best buyers know that submitting a successful letter of intent when buying a dental practice involves as much psychology as it does numbers.  Listen to this episode to learn three tricks that take advantage of simple psychology to maximize the chances that your LOI is the one accepted buy a...  Read More
Categories: Practice Transitions
1.12 - Negotiate This In Your LOI (and Ignore These 3 Things)
Posted 12/25/2019 by BHanks in The Practice Purchased Podcast   |  Comments: 0  |   Views: 60
1.12 - Negotiate This In Your LOI (and Ignore These 3 Things)
When you submit your letter of intent on a dental practice there's more included than just the price. The best buyers know the right areas to include and negotiate, and how to set up the LOI perfectly to allow both sides to win in the right way.  Listen to this episode to also learn two common...  Read More
Categories: Practice Transitions
1.11 - When to Submit an LOI & 2 Common Negotiation Pitfalls to Avoid
Posted 12/23/2019 by BHanks in The Practice Purchased Podcast   |  Comments: 0  |   Views: 62
1.11 - When to Submit an LOI & 2 Common Negotiation Pitfalls to Avoid
How do you know when the right time is to submit an LOI? How important is it to get right if it's non-binding?  Learn a few common broker's tricks that take advantage of psychology and the average buyer's lack of knowledge to get you to pay just a liiiiiitle bit more for dental practices, and how...  Read More
Categories: Practice Transitions
1.10 - How To Calculate How Much Money You’ll Make As An Owner
Posted 12/22/2019 by BHanks in The Practice Purchased Podcast   |  Comments: 0  |   Views: 77
1.10 - How To Calculate How Much Money You’ll Make As An Owner
How much money are you going to make if you buy the dental practice you're considering? There's a way to calculate that number. You'll need to know how to calculate patient attrition and understand which expenses are likely to go up and which expenses will go down with you as the new owner. ...  Read More
Categories: Practice Transitions
1.9 - How to Value a Practice (and know if you're being overcharged)
Posted 12/20/2019 by BHanks in The Practice Purchased Podcast   |  Comments: 0  |   Views: 74
1.9 - How to Value a Practice (and know if you're being overcharged)
If you've decided a dental practice for sale is a good one to buy, how do you know how much its really worth? How will you assess a seller's or broker's price for a practice to know if it's fair or if you're getting ripped off? There's a secret to how valuations really work. Listen to this episode...  Read More
Categories: Practice Transitions
1.8 - How to Analyze a Practice For Sale: The Qualitative Aspects
Posted 12/17/2019 by BHanks in The Practice Purchased Podcast   |  Comments: 0  |   Views: 45
1.8 - How to Analyze a Practice For Sale: The Qualitative Aspects
There's more to a practice than the numbers. Analyzing the qualitative aspects of the dental practice you're considering buying is harder to fit in a spreadsheet, but arguably more important.  Listen to this episode to learn the most important aspects to analyze when buying your dental practice. ...  Read More
Categories: Practice Transitions
1.7 - How to Analyze a Practice For Sale: The Numbers
Posted 12/12/2019 by BHanks in The Practice Purchased Podcast   |  Comments: 0  |   Views: 49
1.7 - How to Analyze a Practice For Sale: The Numbers
You don't need to become an accounting and tax return expert to understand the basics of analyzing the numbers of a practice. When you ask for "financials", do you know what you'll get? Besides the financial side, do you know what other reports to request and what to look for? In this episode,...  Read More
Categories: Practice Transitions
1.6 How to Choose an Attorney to Help Buy a Practice
Posted 12/10/2019 by BHanks in The Practice Purchased Podcast   |  Comments: 0  |   Views: 47
1.6 How to Choose an Attorney to Help Buy a Practice
The attorney is the second crucial team member that is a MUST to hire to buy a dental practice. Do you know what to expect from a good dental attorney? Do you know the best way to tell a good one from a bad one? Want to know how much you're going to pay?  A good attorney will perform three crucial...  Read More
Categories: Practice Transitions
1.5 - How to Choose an Accountant to Help Buy a Practice
Posted 11/29/2019 by BHanks in The Practice Purchased Podcast   |  Comments: 0  |   Views: 62
1.5 - How to Choose an Accountant to Help Buy a Practice
Choosing an accountant is one of two essential people to help get you into the right dental practice. But how do you know who to choose? How much are you going to pay them? What do they DO anyway? The best dental accountants out there are focused on transitions like yours. They have a process that...  Read More
Categories: Practice Transitions
1.4 - The Absolute Best Way to Find a Dental Practice For Sale
Posted 11/17/2019 by BHanks in The Practice Purchased Podcast   |  Comments: 0  |   Views: 97
1.4 - The Absolute Best Way to Find a Dental Practice For Sale
Previously, we talked about the most common way dentists try to find practices for sale (brokers) but it's NOT the best. If you spend 20% of your search time with brokers, this episode talks about exactly where you should spend the other 80% of your time - other dentists. The best practices are...  Read More
Categories: Practice Transitions
1-3 How to Use Brokers to Find a Practice
Posted 11/14/2019 by BHanks in The Practice Purchased Podcast   |  Comments: 0  |   Views: 47
1-3 How to Use Brokers to Find a Practice
Fun fact: Brokers don't want to talk to you. Harsh? Yes, but true! But there's more to the story than just that. In this episode, I'll talk about how to think about your relationship with a broker: how to contact them, what they want from you, and how best to use them. See more episodes, full show...  Read More
Categories: Practice Transitions
1.2 - What to Do About Student Loans NOW
Posted 11/13/2019 by BHanks in The Practice Purchased Podcast   |  Comments: 0  |   Views: 53
1.2 - What to Do About Student Loans NOW
"I can't buy a practice, I need to pay off my massive loan first!" This is the first thing many people bring up when I speak to them about practice ownership. And I get it! If your loan is anything like the national average for new dentists, then it's certainly nothing to sneeze at. But not only...  Read More
Categories: Practice Transitions
1.1 - The 5 Things You Need to Purchase a Dental Practice
Posted 11/12/2019 by BHanks in The Practice Purchased Podcast   |  Comments: 0  |   Views: 99
1.1 - The 5 Things You Need to Purchase a Dental Practice
Categories: Practice Transitions
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