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What you need for your transition plan
What you need for your transition plan
Providing exceptional dental practice transition and real estate services that are personalized to meet your goals.
Blog By:
OMNI Practice Group
OMNI Practice Group

Want your own practice, but don’t know where to start?
Posted 11/25/2024 by OMNI Practice Group in What you need for your transition plan   |  Comments: 0  |   Views: 39
The decisions you make now will impact you and your income today and in the future. We are here to assist you to make the best decisions for you and your family.     Gather your team of trusted advisors.     Start with your Transition Advisor and they can recommend dental-specific banks,...  Read More
Categories: Practice Transitions
Top 5 Missed Collections
Posted 11/18/2024 by OMNI Practice Group in What you need for your transition plan   |  Comments: 0  |   Views: 43
After working with hundreds of dentists for many years, we want to share the top 5 areas of missed production/collection. With small changes to your everyday routines, you can increase collections to put towards new equipment and technology, as well as savings and retirement.     Patient Retention...  Read More
Categories: Practice Transitions
To Build or Buy - Your Pathway to Practice Ownership
Posted 11/11/2024 by OMNI Practice Group in What you need for your transition plan   |  Comments: 0  |   Views: 52
Every potential practice owner comes to a crossroad where they ask themselves, "Should I buy an existing practice, or should I just go start up a new practice at a new location?"  We typically suggest you find a good existing practice to purchase, but if you cannot find one that fits your needs and...  Read More
Categories: Practice Transitions
Different Types of Dental Practice Transitions
Posted 11/4/2024 by OMNI Practice Group in What you need for your transition plan   |  Comments: 0  |   Views: 53
By planning your transition carefully and working with a trusted broker in the dental practice marketplace, practice sellers can ensure each element of the process is completed smoothly. But first, it’s important to learn more on the types of dental practice transitions available for those...  Read More
Categories: Practice Transitions
Steps to purchasing a practice
Posted 10/28/2024 by OMNI Practice Group in What you need for your transition plan   |  Comments: 0  |   Views: 81
Steps to purchasing a practice
A great philosopher once said “If you can dodge a wrench, you can dodge a ball”.  What does that have to do with buying a practice?  A lot actually.  What the philosopher is referring to is that if you can dodge an object, a wrench for example, you can dodge another object, such as a ball....  Read More
Categories: Practice Transitions
Goodwill Sellers
Posted 10/21/2024 by OMNI Practice Group in What you need for your transition plan   |  Comments: 0  |   Views: 27
Goodwill Sellers
As many of you know, in the sale of dental practices, typically the biggest contributor in determining the purchase price is “Goodwill”. Are you aware of the aspects that make up goodwill?  Of course, it includes your patients and business reputation, but it’s also based on patient retention, which...  Read More
Categories: Practice Transitions
9 Critical Questions You Need to Ask Before Buying a Dental Practice
Posted 10/14/2024 by OMNI Practice Group in What you need for your transition plan   |  Comments: 1  |   Views: 174
9 Critical Questions You Need to Ask Before Buying a Dental Practice
Clear objectives are key when going into a buyer-seller meeting.  They can mean the difference between a smart purchase and a risky one.   The goal of any practice purchase is to eliminate as many risks of losing patients as possible.  And that means having a plan.  Before you meet with the seller...  Read More
Categories: Practice Transitions
The 4 P’s of your dental practice
Posted 10/7/2024 by OMNI Practice Group in What you need for your transition plan   |  Comments: 0  |   Views: 27
The 4 P’s of your dental practice
Happy patients lead to positive outcomes and accelerate the other Ps. Enhancing customer service and public relations are vital to running a thriving dental practice. To accomplish this requires dentists to devote more time to patients and provide them with what they need to complete their...  Read More
Categories: Practice Transitions
Build or buy? Your pathway to practice ownership
Posted 9/30/2024 by OMNI Practice Group in What you need for your transition plan   |  Comments: 0  |   Views: 68
Build or buy? Your pathway to practice ownership
Every potential practice owner comes to a crossroad where they ask themselves, "Should I buy an existing practice, or should I just go start up a new practice at a new location?"  We typically suggest you find a good existing practice to purchase, but if you cannot find one that fits your needs and...  Read More
Categories: Practice Transitions
Broker versus No Broker
Posted 9/23/2024 by OMNI Practice Group in What you need for your transition plan   |  Comments: 0  |   Views: 51
Broker versus No Broker
Thinking of selling your practice but don’t want to pay the broker’s commission? Think again. Do you ever refer out procedures because you know the specialist has more experience, may get a better result, and take less time? History shows that any time you sell your business and/or real estate...  Read More
Categories: Practice Transitions
FAQ's by Dental Practice Sellers
Posted 9/16/2024 by OMNI Practice Group in What you need for your transition plan   |  Comments: 0  |   Views: 50
FAQ's by Dental Practice Sellers
      When should I start thinking about and preparing to sell my practice?     The earlier the better, but no later than 3 years prior to selling your practice in order to optimize your sales price and find a good buyer match.  Practice values are typically based on 3 to 5 years of financial...  Read More
Categories: Practice Transitions
Dental Practice Buyers Fears
Posted 9/9/2024 by OMNI Practice Group in What you need for your transition plan   |  Comments: 0  |   Views: 53
Dental Practice Buyers Fears
  There are many advantages to owning a dental practice over being an associate dentist and not owning a practice.  For one, the average dental practice owner makes approximately 20% more in income than an associate dentist working for someone else.  A dental practice owner also gets to choose what...  Read More
Categories: Practice Transitions
Should you consider a low production practice to purchase?
Posted 9/2/2024 by OMNI Practice Group in What you need for your transition plan   |  Comments: 0  |   Views: 65
Should you consider a low production practice to purchase?
Practices come in all shapes and sizes.   Some are collecting over $1 million per year with 50% overhead.  Others are collecting $600,000 per year with 65% overhead.  These both appear to be decent practices.   Yet, there are other practices collecting $300,000 to $400,000 with 70% overhead.  The...  Read More
Categories: Practice Transitions
Merging an Existing Practice
Posted 8/26/2024 by OMNI Practice Group in What you need for your transition plan   |  Comments: 0  |   Views: 62
Merging an Existing Practice
If you already own a practice, have you ever considered buying an existing practice located close to your first practice and merging them together?  If you ask most doctors, they will say the best way to build a practice is through taking care of your patients and bringing in new patients via word...  Read More
Categories: Practice Management, HR and Accounting, Practice Transitions
Choosing the right Practice Management Software
Posted 8/19/2024 by OMNI Practice Group in What you need for your transition plan   |  Comments: 0  |   Views: 90
Choosing the right Practice Management Software
A hot topic these past few months that we have been getting a lot of inquiries on is Practice Management Software.  There are over 30 different Practice Management Software companies, so it is not surprising that you may be solicited every few months by these companies.     From our experience and...  Read More
Categories: Practice Management, HR and Accounting, Practice Transitions
How Do Practices Get Valued?
Posted 8/12/2024 by OMNI Practice Group in What you need for your transition plan   |  Comments: 0  |   Views: 59
How Do Practices Get Valued?
So, you found a practice you like and it has a price tag of $500,000. How do you know the practice is valued correctly? A short answer is that the price, or value, is what a willing, knowledgeable and unpressured buyer along with a willing, knowledgeable and unpressured seller would be willing to...  Read More
Categories: Practice Transitions
Renegotiating Around High Leases When Buying a Practice
Posted 8/5/2024 by OMNI Practice Group in What you need for your transition plan   |  Comments: 0  |   Views: 42
Renegotiating Around High Leases When Buying a Practice
With some practices that are listed, you will find the owner signed a lease right in the middle of a high commercial real estate market.  The rents are 30 to 40% higher than the current rates with 2 to 5 years left on the lease.   What's a buyer to do?  What I typically do is try and negotiate a...  Read More
Categories: Practice Transitions
Goals to Owning a Practice
Posted 7/29/2024 by OMNI Practice Group in What you need for your transition plan   |  Comments: 0  |   Views: 63
Goals to Owning a Practice
The year is more than half way over and now is a good time to re-assess where you are with your goals.  If your goal was to own a practice by the middle of the year and you're not there yet, then we've got a few great opportunities for you that are listed below.  Many times, I see dentists looking...  Read More
Categories: Practice Transitions
A dental service organization is a company backed by private equity that acquires and owns many dental practices.
Posted 7/22/2024 by OMNI Practice Group in What you need for your transition plan   |  Comments: 0  |   Views: 143
A dental service organization is a company backed by private equity that acquires and owns many dental practices.
DSOs have been around for a while.  In their inception about twenty-plus years ago, the premise was that they could provide infrastructure and more affordable care to lower-income families, in part in response to the passage of the Affordable Care Act.  Since that time DSOs have grown with great...  Read More
Categories: Practice Transitions
Preparing to Sell my Dental Practice
Posted 7/16/2024 by OMNI Practice Group in What you need for your transition plan   |  Comments: 0  |   Views: 89
Selling your practice can be a difficult decision to make for many reasons. Perhaps you aren’t ready to stop treating patients but want fewer headaches. Perhaps you don’t know where to start or how the process works. Start today by contacting us to provide you with years of experience to bring you...  Read More
Categories: Practice Transitions
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