Recorded live from the 2022 Hinman Dental Meeting, we take on the seller’s perspective and list important considerations for doctors who are contemplating the idea of selling their practice or in the midst of the selling journey.
Recorded live from the 2022 Hinman Dental Meeting, Christy and Charles catch up with client Dr. Anushka Amin to walk through her experience of buying her Atlanta area practice.
What do you want to accomplish this year as a dental professional? Whether you’re a current practice owner or you’re exploring ownership, this episode is packed with tips for optimizing your practice and planning a dental transition.
We take a look back at 2021, a widely successful year that caught many dentists off guard and offered reprieve after 2020’s uncertainty. How did practices react? Listen in to find out.
The office-sharing arrangement, where two or more independent practices operate out of one physical location, can bring on its own set of unique benefits and challenges. How do dental transitions play out when there’s an office-sharing arrangement in place? Tune in to find out!
Each dental transition comes with its own hurdles, and some may seem more complex than others. Listen in as we discuss three transition situations and provide real-life solutions, proving that it is possible to cross these roadblocks.
The geographical location of your dental practice can have a large impact on your dental transition. Whether the practice is in a rural or urban location can influence everything from the profitability to the timing of the transition. In this episode, discover other transition factors to keep in mind when it comes to geographical location.
Guest Dr. Gabe Duncan joins the podcast to tell his story of starting up his own successful dental practice. While he didn’t see ownership in his cards right out of dental school, his journey through associateship and his love of dentistry led him to a process that just “felt right.”
The site visit is a critical point in a transition diligence - its important for a buyer to know what the goals are and impress the seller...but its equally important for a seller to understand what their role is and what should and shouldn't be on the agenda! We talk about how your site visit may differ if you have lots of candidates or depending on where your practice is located. We of course bring it back with a dating analogy and go over where you should be as a seller in the process if you ...
Hey team! In this episode we pull on our network to talk with ortho/pedo consultant extraordinaire, Jill Allen about the top questions she gets from her clients re: transition. Jill has the opportunity (like us) to work with both buyers and sellers as they enter or exit transition and she has some great advice from being on the front lines of these practices as they prepare for and initiate a big change! While her focus may be in the ortho/pedo space, I think this episode has a little something ...
The Corporate Transition -- a different beast than the private transition and one full of complexity. In this four part series we are going to cover how to know you are ready, what you need to know about the deal, how to maximize your value and maybe most importantly, how to get the job done. In the final part of this series we are going to talk about how to get to closing – how to not mess it up. Basically, what happens once you find a buyer and begin to negotiate the terms of your unique deal....
The Corporate Transition -- a different beast than the private transition and one full of complexity. In this four part series we are going to cover how to know you are ready, what you need to know about the deal, how to maximize your value and maybe most importantly, how to get the job done. In part 3 of our 4 part series Christy, Charles and Brett discuss the elusive EBITDA, Value and discuss what 4x (or 14x) really means….most importantly we are going to talk about how to maximize the value f...
The Corporate Transition -- a different beast than the private transition and one full of complexity. In this four part series we are going to cover how to know you are ready, what you need to know about the deal, how to maximize your value and maybe most importantly, how to get the job done. In part two of this series, we are diving into the deal and some basic facts you need to know if you are considering this route....basically who are the key players, what are the logistics and structure of ...
The Corporate Transition -- a different beast than the private transition and one full of complexity. In this four part series we are going to cover how to know you are ready, what you need to know about the deal, how to maximize your value and maybe most importantly, how to get the job done. In the first part of this series, we start with a few BIG questions – probably the most important one……is WHY followed closely by ARE YOU READY. Why are you looking to transition? Are you financially ready?...
In this episode, we are going to cover a unique type of transition – the associate to 100% owner transition. Basically where a buyer starts in a practice they intend to buy 100% in the very short term as an associate first because they can't buy it right away.....it’s certainly not common, but this type of transition can be a great way to mitigate unique risk in certain transitions - whether it's a buyer not having quite enough liquidity, allowing the buyer to prove out production ability or all...
One year post covid - oh what a year it has been. In this special episode Charles and Christy look back on the ups and downs of 2020 and how Covid has changed dental transitions and how things have stayed the same! Listen In!
We know that sometimes associateships are sometimes necessary part of your journey to ownership. Whether its short term while you figure out where to land, or a place you to to build your speed before you own, there are some components of an associate agreement that can make a really big BAD impact on your future -- in this episode we talk about associate agreements gone wrong.....Listen in and don't forget to listen to episode 17 for more associate agreement content!
If you are like most sellers you have thought long and hard about what your eventual transition might look like - maybe its been focused on the value you will receive, what you'll do post transition, how you'll mentor the young buyer and teach them how you've got where you are....Whatever picture you have painted - the truth is that sometimes the expectation doesn't quite match the reality. That can be hard and can be compounded by the emotions that often come with these transitions. So, in this...
In Episode 3, we talked to the buyers out there and discussed how to approach that first interview with a seller.....given the time that has passed, we thought it was time to flip the coin and answer some questions we hear from those on the other side of the table. In this seller focused episode we talk about transition "dating". What to talk about during those first initial dates, what to cover as you get more comfortable in those follow-up visits, how to make a great first impression and what ...
Welcome to the first episode of Transition Talk in 2021! In this episode, we are going to focus on the fact that as a seller, you are the leader, you are the driver of the transition. From laying out the plan, providing the valuation, and sharing your expectations YOU as the seller need to know what you want and know how to share it. Listen in as we embark on this four episode stretch all focused on the seller!
Just a little note to say thanks.....looking forward to a great 2021!
In a transition, communication is key and there are two points in a transition - telling staff and telling patients - where you don't get a second chance to make a first impression! In this very special episode, we are lucky to share the airwaves with master communicator, Katherine Eitel Belt, founder of Lionspeak. Christy and Katherine discuss how to tell patients (and get them to convert), how to deal with staff who may not be ready to accept a new owner, and for buyers, how to generally step ...
Every transition is different, and while there are certainly universal rules to the process, every specialty has its own unique set of factors to consider. OMS transitions are certainly their own animal! From structure, referral base, OH, technology - all these things have their own importance in an OMS sale. Listen in as Christy and Charles discuss what to look for and what to negotiate in a OMS transition!
Ever heard the story of life about rocks, pebbles, gravel? If not, you should definitely google it and this title will seem a bit random! In this episode we talk about the four big points (or rocks) that you have should focus on during a transition and what we feel is most important about these (and what isn't). What you should dig in on, and what you should give up. This one has good nuggets for both buyers and sellers! We know all the points feel big and sometimes overwhelming, but in our opin...
In this special episode of transition talk we have our valuation aficionado, Dawn Whitehurst, with us to talk about all things RISK! Christy and Dawn talk about what risk is, how it impacts valuations, what you can do to mitigate your risk and what risk lives regardless of your actions! Whether you are a buyer or seller, there is something in this one for everyone!
In this episode of Transition Talk, we focus on the seller and what their "paycheck" looks like post close in a walk-away sale. While the initial focus is on the price, another big financial and emotional component is how much does a buyer need a seller post close and what are they willing to pay the seller for that time? What amount of time investment is goodwill transfer and what amount is clinical compensation required and expected? Listen in to our thoughts on what's normal and what to consi...
As we collectively try to get back to "normal" we are noticing some changes in some areas of the transition world, primarily in the lending arena! So much so that we wanted to take a look back at our popular episode about lending (episode 5 if you want to re-listen) and let you know what we see changing and what pieces of lending haven't changed in this post Covid world. Whether looking to purchase soon, are preparing to own in the next few year or if you are a seller who is looking to find a bu...
To buy or not to buy accounts receivable is one of the more common questions we get once we are past the "to buy or not to buy the practice" question! While there isn't a right or wrong answer there are some things to consider and definitely pros and cons of a AR purchase or the collection of the AR post close. Listen in!
There are lots of ways to be successful in a transition...and lots of ways to wreck a deal. In this episode we talk about 8 big ones -- this list is by no means all inclusive of either set, but as always, we are open, honest and share it all to help educate you and lead you down the road to a successful transition ! Listen in!
Satellite offices can have big opportunity if approached in the right way -- but what if your plan didn't pan out as you intended and you are looking to sell it? In this episode of Transition Talk we discuss some hurdles you and the buyer might encounter if you are looking to transition a satellite and we discuss what you can do to avoid them - even if you don't think selling is in your future! Listen in!
