Whether you’ve graduated dental school and are finally ready to purchase your first dental practice or are a seasoned veteran looking to expand your portfolio, the process of buying a dental practice is a labor of love. Like the purchase of a home, you’ll want to make sure it’s a good fit for all the right reasons. Here, we help you get a leg ahead when it comes to buying the perfect dental practice for you.
Analyze the situation
Before diving into the buying process, you’ll want to look at your specific financial and personal situation, starting with compiling a dental practice checklist. If making money from day one is your priority, then you’ll want to consider purchasing an existing dental practice rather than starting one from scratch. Going through a proper valuation process and getting pre-qualified will ensure you know what you’re getting into from the outset.
Make sound decisions
It can be easy to let your adrenaline take over when you’ve made the decision to purchase a dental practice. Even if you’re eager to jump right in and get things started, there are some critical mistakes you’ll want to avoid in the beginning, including purchasing the first dental practice you see, entering a new partnership and getting set on a plan when there are so many different transition options out there.
Enlist help
Though you may be eager to jump right in and get things started, working with a qualified dental practice broker, like Professional Transition Strategies (PTS), will help take the emotion out of the transaction to ensure you’re selecting the best possible fit for your personal and professional life. Let a broker assemble a team of advisors to support you throughout the process. Your time is better spent focusing on your new life goals.
Create a buyer profile
You can certainly browse dental practices for sale online, but creating a buyer profile on PTS’s website will notify you of new dental practices as soon as five days sooner than anyone else. You’ll be able to dial in on the type of dentistry you practice, states of interest with specific cities and towns, size of desired practice, number of operatories and even the type of transition, all in an effort to find the perfect fit for you and your future.
Bottom line
Buying a dental practice can be overwhelming for anyone, but PTS makes it easier with extensive experience and knowledge to help guide you to a painless, seamless transition. Contact the experts at PTS to get one step closer to owning the dental practice you’ve always envisioned.