Working with dental practice transition consultants in 2023
Dental practice transition consultants are professionals who assist dental practitioners in buying, selling, or transitioning their dental practices. The consultant would help dental clients navigate the complicated process of transitioning a practice. This usually involves a range of legal, financial and logistical considerations.
These consultants can assist with practice valuations, marketing a practice for sale, identifying and qualifying potential buyers or sellers, negotiating the terms of a transaction, and managing the process through to completion. They can also provide guidance on legal and financial issues related to the sale or purchase of a dental practice, such as tax implications, contracts, and financing options.
In summary, a dental practice transition consultant helps dentists plan and execute a successful transition of their dental practice, whether that be through a sale, merger, or retirement.
Buying a dental practice
Acquiring a new dental practice is like buying a home. You don’t want to make a huge investment like that until you’ve had a proper inspection and settle on the appropriate price.
Using extensive reporting metrics, Synergize Dental can quickly assess the value of a practice and ensure your finances are in order. If you’re preparing to buy a dental practice, here’s a few things you’ll need to prepare as you work with dental practice transition consultants:
- Credit profile
- Cash on hand
- Existing liabilities
We also analyze all the data for the practices you’re interested in purchasing. Doing this allows us to provide realistic projections on the value and ROI trajectories for the future. Our transition experts can help anyone from first time buyers, to buyers adding to a large group practice.
Selling your practice
Are you looking to retire or transfer your practice to another partner? Our dental practice transition consultants assist you throughout the process, including:
- Receiving a professional dental practice valuation
- Pricing the practice for optimized sales opportunities
- Sourcing and qualifying the right buyers
- Maintain or stabilize practice growth to attract interest and value
As we develop custom reports for your practice, we can determine an accurate valuation to expect from buyers. Knowing your worth means you don’t need to compromise or reduce your value to make a sale. We find the right buyers and ensure they can assume the responsibilities of the practice.
About Synergize Dental
You deserve to work with a consultant who has been in your shoes. Dr. Scott Craven has helped countless dentists maximize their earning potential during dental transitions. With over 25 years of experience as a dentist, as well as a PhD in organizational psychology, he is uniquely qualified to support your needs.
From large group practices to small independent dentists, Dr. Craven has navigated all the complexities of dental practice transitions. If you’re not sure what your practice is worth, we’d love to provide you with our free Hidden Potential Growth Report. Our analysts highlight what your practice is doing well, while also demonstrating opportunities to increase revenue and optimize your efforts.