Purchasing a dental practice is one of the most important decisions you will make during your professional career. It’s crucial that you approach decisions regarding this lifetime investment with a clear mind and full understanding of the value of the practice you are considering.
Having a strong team of dental transition advisors helps alleviate some of the challenges that often occur during the dental practice purchase process. It’s easy to make a decision in the midst of the moment without considering the substantial facts, especially if your advisor is pushing you. In today’s marketplace, many buyers fall victim to partnering with consultants that lack the integrity and the experience to provide exceptional professional service. Some advisors will tell buyers what they want to hear just to get the business. If a misguided buyer is enticed to pay an inflated price for the practice, this could result in him or her struggling to achieve adequate cash flow for years to come.
The excitement of fulfilling the dream of finally owning a dental practice can distract a buyer from focusing on the numbers and facts. Though it is easy to be swayed by upgraded equipment or office décor, these factors should not be the only ones considered before your sign on the dotted line. While tangible assets help determine practice value, they do not justify a price that is not supported by cash flow.
N/L Transitions works with a trusted network of dental CPAs, attorneys, bankers, and insurance agents who understand the dental industry and conduct business with integrity. Though there are several moving parts in the dental practice purchase process, we’ll help to alleviate the pressure. Our trusted team of advisors can help you overcome the pitfalls which are often concealed by emotions. Our team of advisors will guide in making the best decision based on facts.
For more information on dental practice purchases or to learn more about our available listings, contact Ellen Dorner, the Managing Director of N/L Transitions. With over 25 years in the dental industry, Ellen’s experience will help guide you through the transition process from start to finish. Ellen can be reached at 410-616-2042 or by emailing firstname.lastname@example.org.