Practice Price Trends Around the Country
It’s the question all late-career dentists want to know – What is the average price of a practice, and how much is my practice worth?
Today, we are joined by Brian Hanks, MBA, CFP. Brian’s company, Dental Buyer Advocates, guides dentists through the process of analyzing, negotiating, and purchasing the right dental practices. He has served over 1,100 dentists nationally. Brian was an accountant and Certified Financial Planner™ at two different dental CPA firms, and he has an MBA from the University of Michigan.
In this episode, Brian gives a quick, easy answer to the question, “What is the average price of a practice today?” But a word of caution – the word “average” can hide all kinds of sins and numerical fallacies. In order to get the specific value for your practice, you’ve got to dig a little deeper. This episode addresses some of those subtleties as well as some tips for you to get top dollar for your practice.
On this episode, we discuss:
- What is the average price of practices selling nationally?
- Is the rise of corporate dentistry fueling the general rise in practice prices?
- What role do banks play in practice prices?
- With student loans, how can buyers afford to buy practices?
- What practice characteristics result in above average sale prices?
- What can sellers do to get top dollar for their practice?
To access the free resource Brian mentioned in this episode, the 2021 Dental Practice Pricing Guide, go to: dentaltransitioncoaching.com
To contact Brian Hanks, email him at: brian@dentalbuyeradvocates.com, or call: 801-304-3302. Learn more about the services he provides at: dentalbuyeradvocates.com
Learn about dental practice transition specialists in your area by messaging: office@longinthetooth.info
Long in the Tooth provides non-clinical gems of wisdom for older dental practice owners. Learn more about this podcast at: longinthetooth.info