Dentists Is it Your First Time

Dentists: Is it Your First Time? 

Buying a dental practice is definitely a game changer in your career. You can earn more whilst being your own boss. 

But it comes with a lot of responsibilities too. 

Here are 4 fundamental things you need to think about before starting the acquisition process: 

Location. 

Do you want to stay close to where you are? Or is there potential to earn more away from your current area? 

It is important to think about what your key demographic will be and whether your prime location supports that! 

If you aim your service towards children and their families and your current area isn’t seeing growth in new families. Or you already have several practices who are already well established in the family community, the likelihood is you are going to struggle fitting in. 

Numbers. 

Understanding important aspects of the practice is key to a successful acquisition. Factors such as: 

Patient numbers and behaviours. 

The financial records and cash flow of the practice. 

Statistics of the business

Preferred payment methods. 

Understanding these (and other factors), will help you determine if the practice is a financially viable concern. Lack of research and understanding of what you should be looking for is a fatal error.

Downloading our eBook here will save you from committing the 5 Fatal Errors made when buying a dental practice. Errors such as…

Not asking the question of why the dentist is selling up or taking what they say at face value without doing your due diligence. 

They will all leave you stripped of your budget with a practice that will not earn you what you thought at the start of the process! 

Practice potential. 

Is there any potential for growth? 

Undertaking research to find out about your competition in the area and factor in your costs of reaching out to potential new patients. 

The practice attributes. 

Does all the equipment you need come with the practice? 

If so, is it up to date and in good working order? 

It is imperative that you do an equipment inventory. If you don’t you will end up acquiring a practice that isn’t fit for purpose and you will have to put your hand back in your pocket to make it so. 

So if you are new to acquiring – or you have acquired before – but need steering in the right direction for that premium acquisition then here are 3 ways I can help: 

Download our eBook on the 5 Fatal Errors when buying a dental practice. Access to this and your very own due diligence checklist will reap dividends when it comes to acquiring. It costs you nothing but 5 minutes of your time so go ahead and get your FREE copy by clicking here. 

Book in for a free no obligation telephone appointment with us! We can answer your questions on acquiring and give you an update on what the market is doing right now. Just click here. 

Want a head start on acquiring with access to premium Dental practice sellers in the country? Reply back to this email with the word ‘Guild’ and I will get straight back to you! 

Best wishes, 

Kimberley Hagues

PS. Download our eBook here to get the tools to make sure your acquisition doesn’t fail immediately after completion!