Articles

If you are ever involved in a business sale transaction, you will hear the term “Due Diligence” being used and talked about as a necessary component of the sale. For many buyers and sellers, it will be the first time that they are encountering this term and might not quite understand what it is. This article was written to provide a basic understanding regarding what due diligence is, and the role that it plays in a practice purchase/ sale transaction. 

I love dentistry most of the time, but the pressures from the staff and the economics of the practice were weighing on me. It’s a hard thing to quantify, but it got to the point where I just wasn’t feeling as happy at work and I could see there were signs that it was getting to be time to sell.

My wife once said something that really resonated with me – “You always remember the time with the kids, not the patient you saw at 3 on a Friday”. Many people seem to lose sight of what’s important.

We regularly get dental practice buyers and sellers telling us that their accountant had advised them what a practice is worth.  While I am sure that their accountant is good, competent and trying to be helpful… very few accountants have the experience with dental practice financials and access to comparable dental practice sale results to make that call.

I sleep like a log now that I don’t have to worry about money coming in and things like staffing issues. People ask if I am bored - not at all! In truth, it’s the polar opposite. I don’t have enough time in the week.

Practice owners often misunderstand corporate deal terms.  We have written this article to provide some clarity about “earn-outs”. What they are, how they are used, why they exist and when they are used.

As experienced dental practice brokers in Australia, my team and I are always amazed at the misconceptions that some dentists have about the process of selling a practice. In this article, we thought we would address some of the more common seller misconceptions that we hear:

During World War II, Japanese aviator pilots (called “Kamikaze” pilots) were known to have been sent on missions with no fuel in the tank reserved for the return journey. They were infamous for exhausting all of their resources on route to, and sacrificing themselves in collision with their target.

I sold my practice earlier than most (I was 53 years old) and, while I wasn't ready to retire, I knew I would never be a practice owner again...

When a dentist practice owner is in the last 10 years of their career, the decision of when to sell looms over them. Selling now or selling later can have a big impact on how the practice owner can fund their retirement.