"As I mark my 40th year as a Colorado dentist, I reflect back on the past year of uncertainty and anxiety. I was faced with the sale of my building (where I leased space) and would need to vacate within eight months! The realization came fast and hard that I was faced with the prospect of either opening a new office or the equally difficult prospect of trying to sell my practice to a new dentist with the knowledge that he or she would not have a physical office in which to practice. That is when I turned to ADS [...]
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"We knew before beginning the transition process that there are some situations in life where you absolutely need to hire an expert. The sale of our dental practice was one of them. After meeting with all the other brokers and then ADS Precise Consultants . . . we decided to use ADS Precise. Our experience with ADS Precise Consultants was as much better than expected. Jed and Pete were professional, thorough, accurate, and persistent . . . they gave us peace of mind throughout the entire process." - Dr. Thomas and Linda Pixley; Fort Collins, CO / Past President, Colorado [...]
By the time you finally graduate from dental school, you might be eager to open your first practice. Instead of purchasing an existing practice, you might be tempted to break ground on your own building, hire a graphic designer to create your own custom logo, and start interviewing dental assistants and account managers. However, while it might seem enticing to build your own practice from the ground up, most new dentists can’t afford to do it. The simple fact of the matter is that there are more expenses to think about than your building and equipment costs. In addition to [...]
After spending years growing your dental practice, it can be hard to say goodbye to your coworkers and your loyal patients. Unfortunately, if it is time to move to a different state or retire, you might be faced with shutting your doors or handing your entire business over to a dentist that you don’t know. We know that this transition can be painful and overwhelming for dental professionals, which is why we specialize in matching your business with buyers who meet your criteria. After we meet with you and evaluate your needs, we will work hard to decide the right [...]
In order to effectively prepare your practice for sale, it is important to know what buyers want and what they will be looking for in a practice. As practice brokers, owners of dental practices often ask us “When should I start preparing my practice for sale?” One of the most enlightening projects for a dental practice owner is to have the value of their practice appraised. In the process of gathering information for the valuation, practice owners learn a lot about their own practice. The valuation will reveal the strengths and weaknesses of the practice, which will be identified by [...]
You have a WELL-DEVELOPED PRACTICE and you’re contemplating retirement. But retirement laws have held back minimum funding of a pension plan that would have allowed you to live as you wanted. However, now you can obtain both immediate cash and ongoing, non-cash benefits by combining a newly defined benefit pension with an early sale of your practice. The plan involves starting a new retirement program now, using cash from the sale of your practice to fund the retirement program and start living the “good life” earlier. In short, combining the sale of your practice with an employment contract from the buyer [...]
In this day and age of deferred retirements, more practice owners are making the decision to have an associate join their practice. Hiring an associate may allow the senior dentist to take more time off and still maintain some income. Before such an endeavor is undertaken, it should be realized that an associate buy-in is much more complex than the outright sale of a practice. There is more stress and much more detail to deal with. It entails a lot more work and all involved need to be aware that it may take more than one try to get the [...]