20 Nov 2013
In order to effectively prepare your practice for sale, it is important to know what buyers want and what they will be looking for in a practice. As practice brokers, owners of dental practices often ask us “When should I start preparing my practice for sale?” One of the most enlightening projects for a dental practice owner is to have the value of their practice appraised.
26 Dec 2012
You have a WELL-DEVELOPED PRACTICE and you’re contemplating retirement. But retirement laws have held back minimum funding of a pension plan that would have allowed you to live as you wanted. However, now you can obtain both immediate cash and ongoing, noncash benefits by combining a newly defined benefit pension with an early sale of your practice. The plan involves starting a new retirement program now, using cash from the sale of your practice to fund the retirement program and start living the “good life” earlier. In short, combining the sale of your practice with an employment contract from the…
18 Oct 2012
In this day and age of low returns of investment for such financial instruments such as CD’s and Money Market Accounts, we have found more interest among sellers to consider carrying the financing for the sale of their dental practices and to get the interest instead of the bank. If you decide to carry the financing (i.e. accept a Promissory Note for the sale of your practice) there are some safeguard steps you should take to protect yourself.
16 Oct 2012
The value of your practice is actually a combination of the value of the various components of your practice. Basically, there are two categories of components or assets of any business: Tangible Assets and Intangible Assets. The Tangible Assets are the things that you can touch, like dental and office equipment, supplies, and furniture. Intangible Assets are the things that are a little more nebulous such as goodwill, “blue sky,” and (even though you can touch them) patient lists or patient records. The value allocated to each class of assets has a tax consequence for both the buyer and the…