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Jun 28 2017 - Simon Palmer - Sell a dental practice
When you ask someone about the variables involved in establishing the value of a dental practice, they will usually list the quantity and quality of the equipment, the turnover, the profit, the location, the size of the patient-base and the demand for practices in the area. All of these factors (and more) are, of course, huge indicators of the expected price.
Apr 27 2017 - Simon Palmer - Sell a dental practice
Most people would acknowledge that it is inappropriate for a judge to preside over a case involving a family member. If they did, their decision could be influenced by their personal relationship with the person involved in case, rather than the facts. Any ruling would not be deemed fair and just to those who sought judgement (and it probably wouldn’t be).
Apr 1 2017 - Case study
I took four months off after I sold. I took all four of my kids to Europe to see my family and have a holiday for a month, and then went to Cuba and Mexico with my best friend.
After I came back I went back to work, but only doing 18 hours a week.
I love being a dentist more than ever, now that I don’t have the stress of
ownership. It has reignited my passion for dentistry. My stress level is zero and my work/life balance is very good.
Taking control of my life like this has been very empowering.
Mar 30 2017 - Simon Palmer - Sell a dental practice Staff
One of the greatest fears buyers of dental practices have is that they will pay significant money for goodwill and there will be a mass exodus of patients when they take over. To mitigate this risk, any buyer needs to seriously look at the reasons why a patient frequents the practice, and give them no reason to want to change their behaviour.
Mar 17 2017 - Simon Palmer - Podcast
Excited to be featured in the ADA NSW podcast this month.
Mar 17 2017 - Simon Palmer - Buying a dental practice
Great to see this great article in Bite magazine that we are quoted in
Feb 17 2017 - Simon Palmer - Sell a dental practice
There is a paradoxical relationship that dental practice owners have with their last few years of ownership. They usually know when they are within a few years of selling. Yet strangely, they behave as if their practice value is set in stone, start to relax, and let a career worth of work be seriously compromised by fatigue, decreasing the practice’s performance, right before it is about to be appraised. For practice owners like this, history can judge the last few years of ownership harshly!
Jan 3 2017 - Case study
The main difference between being a dentist working in a practice and being a dentist owning a practice is the paperwork! The bottom line is you when you own a practice – you have to make everything great. In the past two years, since I sold, I have noticed I’ll often wake up really happy, for no reason! I feel like I really have time for me now. I’ve started exercising and
walking most mornings, and am having so much fun with my free time.
I worked for the guy who bought my practice for nearly two years. He had his own way of doing things, of working, but it was amicable all the way through. When he was making changes I was happy to let it happen. I was ready to let it go, much...
Jan 1 2017 - Case study
Selling my practice has opened the doors to scuba diving, sailing, holidays. We take quite a few 12-day trips, which I manage by moving my days around. This year we spent time on a houseboat in France....
Nov 21 2016 - Simon Palmer - Podcast
We were thilled to be part of our favourite podcast, The Savvy Dentist! Simon spoke to Dr Jesse Green about all things practice sales, from preparing your practice for sale to knowing when it's time to sell and planning your exit strategies. Click here to listen to it