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Purchasing a Dental Practice - Legal Issues
                        In addition to financial issues and considerations, there are numerous legal issues involved in a dental transition. An attorney experienced in the nuances of dental practice transitions should always assist the buying dentist in the following issues:                     ...  Read More
The Legacy Practice (Parents and Children in Practice Together)
There is a long and successful (and stressful) tradition of working in the same practice with a parent or child professional.  This session addresses some of the non-accounting/non-legal issues of making a successful transition.  We discuss practice image and brand, locations, and various issues...  Read More
Purchasing a Practice: What Is a Fair Price?
Mike McAninch is a Practice Integration Advisor with , where he specializes in helping dentists connect their money and their values to realize their most important financial goals.My colleagues and I will spend the first few months of this new year focusing on various aspects of dental practice...  Read More
How Divorce Can Affect Your Dental Practice
How Divorce Can Affect Your Dental PracticeThe original version of this post appears on the Divorce can truly be a life-changing event, even when it comes to owning a dental practice. While no one plans on ending a marriage, it’s important to take precautions upfront in order to ensure your assets...  Read More
What To Do When Your Dental Practice Is Too Busy
 The original version of this post appears on the  Is your number of active patients—those who have visited the office in the last 18 months—more than 2,500 when 1,500 active patients is considered full capacity? Are you booked 80 percent of the time with a six-month advance? Then it may be time to...  Read More
Transitions: 3 Tips to Help You Accelerate the Process and Do More Dentistry
I graduated from Dental School in 2012.  After practicing as an associate for over 3 years, I purchased an established dental practice, , in Kitchener, Ontario.  While my first year as an Associate provided great opportunity for exploring patient expectations and psychology, I was so focused on...  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
6 Types of Dental Practice Agreements
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
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
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
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
Dental Practice Transitions: The Five Basic Models
Katie Collins, a Practice Integration Advisor with , helps dentists order their financial lives and reach financial peace of mind so they can better focus on what truly brings them joy.While every dentist will have a different vision for their practice transition, there are some general models...  Read More
Dental Practice Transitions: Tax Considerations
Mike McAninch is a Practice Integration Advisor with , where he specializes in helping dentists connect their money and their values to realize their most important financial goals.When my dental clients get excited about the appraised value of their practice, I caution them with this advice from...  Read More
The Best Way to Sell a Dental Practice
You have likely spent your entire career building a dental practice, but now you’re ready to move on. But selling a dental practice is much more than putting a For Sale sign on the curb. Selling your dental practice is one of the biggest moments in your career and you only have one chance to...  Read More
How do I sell my Colorado Dental Practice?
If you are reading this, you have most likely started to think about selling your Colorado dental practice. Whether you are ready to sell for a personal reason or you want to transition the practice to a partner, you are probably feeling a little overwhelmed by the thought of selling your...  Read More
The Steps Involved in a Practice Transition
The process of a dental practice transition involves several different contracts. Typically, after the practice owner has selected a potential buyer, that buyer will want to obtain financial or operational information about the practice. Before providing a buyer with confidential practice...  Read More
How Can I Make My Practice More Valuable?
If you are considering selling or transitioning your practice, increasing the value of your practice is, or should be, a priority. It can be difficult to know how or to find the time to make changes at your practice. However, it is very important that you take the time to get your practice and...  Read More
Planning Your Dental Transition
For many dentists, owning your dental practice consumes the majority of your energy, finances, and professional life. Your practice is more to you than just a profession, its years of blood, sweat, and tears…decades of staff and patient memories. These factors have caused you to form an...  Read More
Growing Your Dental Practice
Are you looking to grow your dental practice? Perhaps you’re trying to add more patients, create demand for new services, reduce overhead – or all of the above.Many factors outside your control will influence the selling price of your practice, whether it’s next year or five years...  Read More
Synergy Consultants & CPAs is pleased to announce the second annual Dental Business & Legal Symposium.Itinerary: 9CEDAY ONE: STRATEGIES TO CONTROL STAFF COSTS AND BUILD A BONUS SYSTEM--1HR KEY BENCHMARKS FOR A MORE PRODUCTIVE HYGIENE DEPARTMENT--1HR STRATEGIES TO ACHIEVE FINANICAL...  Read More
Is Your Practice Ready to Start the Transition Process?
When the time comes for you to begin the transition process out of your dental practice, there are two parts to that decision. The first is that you are ready to start the process because you are at a point in your life where you want to do all the things on your bucket list, or you want to at...  Read More
Transition Pitfalls
You never know when something can happen that will impact your ability to practice dentistry. Each year, many dentists find themselves facing the unexpected which prevents them continuing the professional career. Or, more commonly, retirement quickly creeps up on them. Whether it’s due to...  Read More
When Is The Right Time to Talk To the Staff About Your Transition?
Timing is everything. When dealing with delicate situations such as selling your practice, you should approach the conversation with staff carefully. Some dentists experience feelings of guilt by keeping the news of their dental practice sale a secret from their staff. Or they view keeping the...  Read More
Location, Location, Location…
One of the most important factors that impact your practice’s value is your location. As baby boomers approach retirement, more Gen Xer’s have the purchasing power. Based on studies, the majority of recent dental school graduates have a desire to practice in urban and suburban areas....  Read More
Dental Practice Broker MLS
Most Dental Practice Brokers run stand alone companies that do not collaborate with other dental practice brokers. This is how things were in real estate 20 years ago when real estate brokers signed up Sellers to Exclusive Right to Sell contracts and did not work with other Brokers. Today, most...  Read More
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