Professional Transition Strategies
Professional Transition Strategies
A practice transition is not as simple as some doctors may believe. If not done correctly, it can be a very costly experience. Discover what to do in order to create a successful transition.
Professional Transition Strategies

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4 Steps to Selling Your Dental Practice
4 Steps to Selling Your Dental PracticeA . Here are the steps you should take to sell your dental practice.Hire a brokerA  can perform these services at no charge.)Vet potential buyersA non-disclosure agreement is signed by every potential buyer who inquires about your practice, after which time a...  Read More
10 Steps to Buying a Dental Practice
10 Steps to Buying a Dental PracticeYou’re ready to start the dental practice buying process. But how? Before getting the keys turned over to you, there are a few steps you’ll need to follow first. Here’s what you can expect from the transition process.Get pre-qualifiedProviding your net income,...  Read More
5 Steps to a Pre-Retirement Plan
Any business owner will tell you  doesn’t happen overnight. A well-planned retirement from your dental practice can start as early as five years out. Here are some suggestions to help grease the wheels in the meantime.ValuationYou don’t need to wait until you’re ready to sell to start the ) in...  Read More
7 Changes to Make After a Dental Practice Transition
No two dental practice transitions are alike, but there is one hard-fast rule that buyers should follow across the board: Don’t make any changes after acquiring a practice for at least six months, no matter how , if you want to keep patients and staff happy. What’s more, it is to your benefit to...  Read More
How To Notify Your Patients of a Dental Practice Transition
A successful transition of a dental practice should always keep the best interest of the patients in mind. Financing and purchase price depend on patient retention after the sale, which is why notifying your patients needs to be done properly and in a timely manner. A properly crafted exit strategy...  Read More
3 Factors that Contribute to the “Goodwill” of Your Dental Practice
When looking to .Community statusWhen a dentist who has good standing in the community sells a practice, the goodwill of that practice is transferred over to the buyer. Ensuring a  starts before signing on the dotted line with the practice name, location, and brand awareness and marketing.Patient...  Read More
5 Ways to Ensure a Successful Dental Practice Transition
There’s more to a successful dental practice transition than signing on the dotted line. It is a benefit to both the  that the process is smooth in order to maintain a reputation while keeping patients and staff happy. Here’s how.Determine transition typeThe first step is for the  the practice over...  Read More
6 Considerations When Relocating Your Dental Practice
The old real estate adage of “location, location, location” also applies to your dental practice when considering a move. Whether you’ve outgrown your current space or are just looking for a change of scenery, there are other considerations you’ll want to make when looking to relocate your dental...  Read More
A purchase agreement is just one of the many contracts you’ll enter when purchasing a dental practice. While the amount of paperwork may seem daunting, it’s important to make sure all aspects are covered so there are no surprises after signing on the dotted line. Here are six types of agreements...  Read More
4 Sections of a Dental Practice Prospectus
When looking to , the information gathered for a prospectus is typically the same that is required by the bank. The key metrics used to appraise a practice are generally agreed upon in the practice’s specialty and include the following.Practice descriptionThis includes a biography of the selling...  Read More
6 Ways to Lower Your Dental Practice Overhead
Regardless of whether or not you’re looking to sell your dental practice, lowering your overhead is always in your best interest. Changes can be thought of from an expense perspective and production point of view. Here, we recommend where to make some smart cuts, big and small.StaffingA change in...  Read More
6 Factors when Valuating a Dental Practice
The process of valuating a dental practice before selling is not only necessary for the  is best. Here is what you can expect to provide during that process.UpgradesShould you ? Yes, if selling within five years; no, if selling within a shorter amount of time. Upgrades can be as small as getting...  Read More
How to Assemble Your Team of Advisors
Whether you’re looking to purchase an existing dental practice or start your own, assembling a team of advisors to help guide you through every step of the process will ensure the success of your business is established from the beginning. As with any team, you’re only as strong as your weakest...  Read More
20+ Questions to Ask Your Buyer to Ensure a Successful Transition
After so many years owning a private practice, you’ve become invested both financially and emotionally. Once you’ve decided it’s ‘s intentions to ensure a successful transition for all parties involved. Here is a comprehensive list of questions to ask potential buyers to get one step closer to the...  Read More
6 Considerations when Starting a Multi-specialist Dental Practice
One of the most efficient and profitable ways to grow your general practice is to bring on a specialist or multiple specialists. But before you call every periodontist, orthodontist, and pediatric dentist in the phone book, you’ll want to consider the following.Patient careWith every decision a...  Read More
3 Reasons Your Dental Practice Values for More in the Pacific Northwest
The old real estate adage of “location, location, location” carries over to dental practices, too. And in the Pacific Northwest, you’ll find a number of reasons why your dental practice assesses a higher value than other areas of the country. Here, we list a few reasons why now is a great time to...  Read More
Partnerships versus Mergers: Which Is Right For You?
When looking to combine practices, the million-dollar question (literally) is whether to go with a partnership or a merger. The answer lies in what you’re working toward: retirement or expansion? Here, we break down the two options.PartnershipsWhile  have a 60 percent success rate, it only makes...  Read More
5 Options for Dental School Graduates
You’ve studied for the past eight years and now finally have that much coveted dental degree in hand. Now what? Even if your dreams are to own your own practice, there are other options to consider and a few steps you might want to take first.AssociateshipWhile taking on an associate is risky from...  Read More
5 Types of Dental Practice Buyers
When looking to sell your practice, it’s helpful to know who your potential buyers are. In any case, Professional Transition Strategies recommends buying an established practice rather than starting from the ground up due to a higher return on investment. Read on to figure out who would be a good...  Read More
How to Choose a Lender
Obtaining a loan to finance a dental practice, whether to acquire or grow a business, is only made possible with the help of the right bank. As with all major life decisions, you’ll want to work with whom you feel most comfortable, not necessarily who offers the lowest price for their services....  Read More
Why Sell to a DSO?
Dental service organizations have gotten a negative reputation because of their seeming corporate interest. Most dentists open their own practices to focus on the clinical side and patient care, which is why, in fact, a DSO might be a good fit. Here, we break down why this might be the case and who...  Read More
7 Types of Dental Practice Transitions
By now, you’ve probably already decided that . But maybe you don’t know or haven’t started exploring all your options yet. Here, we break down the types of dental practice transitions in an effort to help you figure out which is best for you and your business.Buy-outA buy-out is exactly what it...  Read More
8 Ways to Increase the Value of Your Practice Before You Sell
Just like you would make curb appeal or structural updates to your house before putting it on the market, you might want to consider the same for your dental practice before selling. Not only will necessary updates make it more appealing to a potential buyer, but all these pieces will also help...  Read More
Reasons to Sell Your Dental Practice
Whether your biological clock is ticking or owning your own business isn’t what you dreamed it would be, there are plenty of reasons to consider selling your dental practice. Each situation warrants its own considerations and end results. Let the professionals at PTS walk you through your...  Read More
Are You Ready to Sell Your Dental Practice?
You don’t need to be of the retiree age to consider selling your dental practice. But before you decide if you’re ready to pass the reins to a potential buyer, like with any major life decision, there is a number of questions you should ask yourself and factors to consider.Am I ready for a...  Read More
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