Articles

While almost all buyers will visit a practice before making an offer, there is very little guidance out there on how best to spend your limited time at a site visit.

We are standing at the frontier of one of the greatest changes in the ability for hygienists and oral health therapists to generate wealth in the history of the profession in Australia - and somehow, very few people are talking about it. In mid-2020 the dental board finally agreed to increase hygienists and OHT scope of practice so that they could practice independently to dentists. This was a huge step towards independence as a profession and recognition of value. Only one administrative impediment remains for independence to be complete. Currently, lobbying is underway to grant hygienists and OHTs the ability to have their own provider number - when this happens, so too should the historical reluctance of banks and financiers to lend to hygienists and OHTs wanting to buy a practice. Practice ownership – once a pipe dream for many - is now finally going to be a very real possibility.

Any business is made up of both tangible assets (those that you can see and touch, like equipment, fit-out and furniture) and intangible assets (like goodwill, brand recognition and intellectual property).

I had enough of being the boss, stressed and worrying about paying bills and staff. The whole idea was to sell the practice, work less and travel more …My partner and I teach dancing and have a dance studio; we also teach dance at nursing homes and on cruise ships.

For every good practice that Practice Sale Search has for sale in one of the state capitals, we have many buyers competing with each other to submit a winning bid.

Great interview with one of our vendors, Michael Levitt, who sold his Sydney CBD practice through PSS in 2019. He's found the perfect work-life balance, where he's still loving practicing dentistry, but without the responsibility of ownership.

"We wanted to concentrate more on what we like most, to mentor and pass our combined 35-year experience and knowledge on to the younger generations. The practice is our baby and, although we have handed it over, we are still nurturing it."

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.

Thanks to Bite Magazine for interviewing Simon for their article about how to avoid the common pitfalls when buying a dental practice.

Despite the best of intentions, even once the framework of a practice sale is agreed, it is often still very hard to predict the exact date that a deal will settle. Even with the buyer and seller doing all that they can to prioritise and expedite the deal, a transaction can be at the mercy of the availability and circumstances of many other people’s lives, including: