As indicated in one or more of the previous articles/posts in this series, the final installment will dive into how to read and understand the package of information you would typically receive from a practice broker or brokerage company. We are going to deliver this in a video format because it will hopefully make it a little bit easier to ...
Read MoreI am going to divide the last two topics into two separate areas so that we don’t lose site of what we are looking for. The search that we have been pursuing is a dental practice in need of care, in a great location, with a huge upside after the sale. The next addition to fill out our search is how to read and interpret a broker’s sale ...
Read MoreBefore we move on to an actual look at a real brokerage offering, there are some simple but necessary questions that you need to ask in this process of finding that ideal practice with a huge upside and a quick profitable growth curve. As you will see, these questions delve into the very heart of what you will be buying. You will also learn ...
Read MoreLike it or not, many doctors doom their prospects of owning a successful dental practice by denying the importance of location and specifically the demographics of that location. Selecting that “just right” location can make all the difference in the world. Not moving this decision to your highest priority can create a situation that you ...
Read MoreThere are many things that drive us towards a location for opening or purchasing a practice. Remember, we are looking for a unique purchase of a practice that has the potential of doubling or quadrupling the before sale production and profitability. We will analyze the effects on selecting the best location for the right reasons. I would have ...
Read MoreOur second point of interest in purchasing a practice for profit is their Profit & Loss Statement. I will try to dumb this down to a simple yet understandable format that allows you to quickly analyze a practice “outflow”. Keep in mind that I will be mentioning ideal levels in the categories we discuss. But our primary goal is ...
Read MoreWe are moving on to the second and third pages of the Growth Analysis Spreadsheet as we define and understand this document on the journey to purchasing a profit centered new practice. This evaluation sheet can be down loaded by simply clicking this link. In addition, make sure you have also downloaded The Super General Dental Practice at ...
Read MoreIn almost every endeavor, we are faced with a multitude of facts and a need to simplify and analyze this date in order to make a consistently successful decision. In analyzing dental practices, the growth analysis sheet will help you to immediately assess the challenges as well as the upside to any practice. If you are an owner, it allows you ...
Read MoreBefore any big game, football coaches play and replay films of the opposing team. They learn the weak and strong points of their adversary before they even walk out on the field. They understand that there has never been “just another game” if winning is where you plan to end up. In that vein, let’s take a look at the assemblage of ...
Read MoreAs we begin this transition in earnest, I want to bullet point the foundational premises that we will be following. We will not get into great detail, but I will give you a bit of insight now and later as we go through actually finding, measuring, and purchasing an office we will expand your understanding and the logic of where we are ...
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