Dental Practice Buyers​

Many dentists who are looking at buying or leasing a dental office will consider practicing in partnership with other dentists. They feel bringing in a partner will provide them with a greater work/life balance for themselves, and greater coverage for their patients. They may feel that a partner can bring contrasting yet complementary strengths. The idea of sharing some of the responsibilities, liabilities, and costs can be very alluring.

While no one can dispute the benefits of entering into a partnership, the simple fact is that half of all partnerships fail. You need to recognize and acknowledge this hard truth. It’s much easier to create a partnership than it is to dissolve one.

Dissolving a partnership is financially and emotionally draining. Even worse, the partnerships that don’t break up often limp along in what can only be described as a very bad marriage. Your staff, as well as your patients, won’t like being in an atmosphere filled with so much tension and anger.

Understandably, some dentists still would like the day to day help and camaraderie another dentist can provide. There are other ways to accomplish that goal without taking on a partner. For example, you can hire another dentist as an associate. Hiring another dentist to work as your associate will provide you with the benefits of a partnership without the liabilities.

Many new buyers rush to radically renovate their newly acquired offices. This is often a mistake because it’s expensive, time-consuming, and disruptive to a practice that’s just transitioned to a new dentist. Too much change can be stressful for you, your staff and your patients.

The urge to improve the office is natural, but there are other options. An alternative to renovating the office is to develop and renovate your marketing plan. New dentists can see an increase of 20% in revenue their first year in business by updating their marketing strategies.

Dentists who have been practicing for several decades started their practice at a time when doctors were prohibited from marketing their business. Even though marketing for a doctor is acceptable today, the taboo still exists in the minds of some established dentists. They built their practice without ads and may not see the value in optimizing their marketing efforts. New dentists are more likely to see marketing as an important function of their business.

The financial statements and valuation will reveal how much the selling doctor spent on marketing and what marketing was successful. You can use the findings to implement a new and improved plan to attract more patients to your business.

Currently, dental practice buyers are facing a very tight market. There are more buyers than sellers. This means your offer has to be the best possible. We will assist you in preparing an offer that has a high likelihood of being accepted by the seller while still being affordable and viable for you. 

No matter how reasonable and fair we may think your initial offer is, the seller may reject it. That doesn’t mean the deal is dead. At your request, we can communicate a counteroffer. We will continue to negotiate until both you and the seller agree on terms. We will work on your behalf to remind the seller that you have been prescreened and have made a fair and carefully thought out offer. Good contracts benefit both sides of the transaction. 

We promise to follow up and keep you informed at every stage of this process. We will arrange and accompany you on all of your visits and provide prompt and comprehensive in our answers We will help you overcome obstacles and get you the most ideal office. Set yourself up for success and watch your business blossom with our help. 

Most contracts are very complex. We make sure you understand and are comfortable with each detail. 

Typical transactions take about 45 days. Although we are problem solvers, if you follow our advice you will eliminate obstacles and minimize red tape and hassles.

No other dental practice brokers offer what we do. No one has the quality and number of professionals on staff that we do. No one we know employs two on-staff CPAs to create accurate valuations and appraisals. 

We make ourselves available to you 24 hours a day, 7 days a week, 363 days a year. (We’re closed Christmas and Easter). Our founder and owner, Dr. Gary Boyajian, DDS, along with his accountants, will oversee every detail of your transaction. 

We stake our reputation on our performance. We don’t let people down. We will help you accomplish your goals.  

Leases and property purchases must be handled carefully. Property agreements and leases must be scrutinized. There will be a landlord and the landlord’s attorney which will add to the number of professionals involved in your sale. Whether you are planning on buying or leasing the property we can help you with every step of the process. Problems with leases and commercial purchases are common. We make sure all participating parties are involved and agree. Lack of agreement when buying a practice can hold up the sale for longer than almost any other reason. You simply can’t buy the practice until this area is settled.

After you identify the dental practice you want to buy, your next step is credentialing with insurance companies. This must be undertaken as soon as possible. With the exception of Medicaid, credentialing is provider-specific, so you need to let the insurer know you’re the one who’s going to be paid.

We have gone through most of the aspects of buying a dental practice and you will find that our services extend beyond these considerations. With our extensive experience and resources, we’ll help you put together a plan that will make your new practice the most successful it can be.