In the competitive landscape of dental practice acquisition, the difference between a successful purchase and a missed opportunity often comes down to speed, preparation, and a willingness to be an aggressive buyer. As Dr. Gary DDS explains, the most desirable dental offices for sale don’t stay on the market long. If you’re a dentist looking to escape the limitations of working for others and own your own dream, here is the blueprint you need to follow.
The Aggressive Buyer’s 5-Point Plan
The core message for anyone buying a dental practice is simple: when you find a practice that meets your parameters, you must move, and move fast.
- Get Pre-Approved and Ready to Pounce
The most successful buyers are those who are already pre-approved and motivated – often, the ones who just lost out on a previous deal due to a cold-footed seller. This initial disappointment transforms them into a “prepped buyer” who understands the race. Before you even look at your first listing, you need to have your financing in order. This preparation allows you to make a credible, immediate offer when the perfect opportunity arises.
- Don’t Wait for the Financials – Move
This is the most counterintuitive, yet critical, step. While you absolutely need the financial data to close the deal, waiting for it can cost you the practice. An aggressive buyer does a “ride by” (checking the exterior and location) and schedules a physical walkthrough immediately. Go see the office, check the equipment, review the physical layout, and meet the seller. This shows the seller your commitment, and a motivated seller will expedite the delivery of financials for a motivated buyer. Waiting until you have every piece of paper means the race has already started without you.
- Understand the Value of “Super Top Dollar”
While it’s important to be financially responsible, hesitation over a small percentage of the purchase price can be fatal. Dr. Gary points out that a willingness to pay “super top dollar” secures the deal and is often worth it in the long run. The financial benefit of ownership – including legitimate tax write-offs that can save you around 25% compared to working for someone else – quickly makes up for an above-market price. Focus on your long-term dream, not just the closing price.
- Connect with the Seller and Staff
Acquisition is not just a financial transaction; it’s a transfer of a legacy. Sellers often care deeply about who takes over their practice. They want a buyer who will be kind to their staff and treat their long-time patients fairly. An aggressive buyer shows excitement and sincerity during the initial meetings. This human connection can be so powerful that a seller might even accept a slightly lower price to sell to the person they feel most comfortable with.
- Initiate Financing Discussions Immediately
Even before the final profit and loss statements are in hand, you know the practice’s gross revenue and the average overhead. Use this high-level data to get on the phone with your bank. Start the conversation about a possible loan structure immediately. This parallel-path approach saves weeks and confirms to the seller that you are a serious contender.
