You’ve kept up with the Insights blog; you’ve taken the dental practice transition quiz. Now it’s time to learn even more about the process by way of a cheat sheet broken down by the numbers.
1,500
Number of active patients considered full capacity for a single dentist. Any more, and it may be time to consider taking on an associate or partner.
680
Credit score that is favorable to getting a better business loan.
80
Percent of goodwill that contributes toward the overall value of your practice.
150
Hours it takes to sell a dental practice, which is one of many reasons to hire a professional broker.
15
Minimum number of days patients and staff should be notified about the sale of a dental practice.
30
Percent of dental practices that will belong to a dental service organization by 2021, as predicted by the American Dental Association.
5
Years out you should start thinking about a retirement plan.
20
Pages that make up a prospectus, broken down into different categories of interest to the buyer identifying the areas that potentially need attention.
99
Percentage success rate of a buy-out, versus 60 percent for a partnership and 20 percent for an associateship.
What’s next?
Read the e-book “Strategies for Transition” to learn more about the different dental practice transition options, then contact the experts at Professional Transition Strategies to learn more.