Buying a Dental Practice

Are you interested in buying a dental practice?

Southeast Transitions is dedicated to helping dentists who are interested in buying a dental practice. Our company takes a unique approach when it comes to dental practice transitions by matching the philosophies of both the buyer and seller to ensure each side walks away from the table satisfied.

Buying a dental practice is probably one of the biggest decisions you will ever make in your career. As a result, it is important to have an experienced dental practice broker by your side as you navigate through the process. At Southeast Transitions, our number one goal to help you find the right dental practice that is in line with your goals and values.

We have some excellent dental practices for sale right now. Visit our Dental Practice Listings page. If you do not see a practice that meets your specific needs, contact us and we’ll discuss finding a practice that is right for you.

Choosing the right dental practice to buy.

First and foremost, you have to understand why you want to buy a dental practice. Owning your own business comes with a lot of risks but also provides excellent rewards. An informed buyer understands what risks he or she is willing to take and knows specifically what rewards he or she wants to reap from the business.

Some Common Rewards

– Financial Freedom

– Flexible Schedule

– Sense of Accomplishment

– A Great Lifestyle

Some Common Risks

– Malpractice

– Legal issues with employees

– Bankruptcy

– Burn Out

Now that you understand why you want to buy a dental practice, let’s explore what you want to buy. When you fully understand what is important to you, it makes searching for the right practice much easier. The following are some of the most common factors we assist purchasers in understanding so they can create a specific target practice profile so we can ensure a perfect fit:

Location

(Urban, Suburban, or rural). This criteria is particularly important if you have a specific lifestyle you wish to lead or require access to specific amenities.

Cash Flow

Businesses come in all shapes and sizes. You may have very specific ideas about how much gross or net revenue you’d like the practice to be doing before you buy.

Business Model

Some dental practices are only Fee for Service, others mix FFS with PPOs and HMOs, still others rely on Medicaid for new patients and cash flow. Each has their own pluses and minuses. It is important that you understand them and choose wisely.

Dentists' Philosophy

There are many different schools of thought in dentistry. It makes sense that you buy a practice that is already operating under the philosophy you subscribe to. It makes the change in ownership easier on everyone including your patients. It is also a key factor in practice transferability.

Change of Control

(aka Transition) Determining how would you like to assume control of the dental practice you purchase is critical. This is where a fit between the selling Dr and the buying Dr is essential. A very common way for this happen is that the selling Dr will remain in place working for the buying Dr for a period of time. The selling Dr could also walk away after the transaction is complete. Each has benefits and drawbacks.

One additional factor is worth mentioning and that is price. We recommend that price not be a primary factor in finding a dental practice. The criteria listed above will best align practice performance with your goals. Price is most relevant to the amount of financing you can qualify for and should be used to screen out dental practices that may have otherwise been a fit if you can not qualify for the required financing.

One final consideration every buyer should consider is this: If you want the most desirable location, be ready to compete.This means competing on price to purchase it and competing for patients after change of control. You may find that a dental practice located in a different area actually provides you a better value and more closely aligns with your long term goals.

Learn what steps you should take to prepare for buying a dental practice!

Check out our dental practice buyers’ must-do checklist!

If you would like to speak with one of our advisors directly...

…please visit our “Contact Us” page and fill out the form, call or email us!