In a non-stop effort to make your transition into or out of a practice, we've answered a few common questions frequently asked. If you have a question that isn't found in this list, please click the "Ask a Question" button and ask away.
Why do I need a dental practice appraisal?
Practice appraisals are like dental radiographs. Embarking on a practice transition without an appraisal and evaluation is like surgically removing third molars without an x-ray. Having an appraisal of your practice can be crucial in many situations including selling your dental practice, adding an associate, analyzing practice efficiency, or divorce. Practice appraisals can also be helpful for financial and estate planning. We also have a number of clients who have appraisals performed and updated each year as "insurance" for their practice should anything unexpectedly happen to them. An appraisal not only identifies the price of a practice, but also contains a wealth of information needed to market a practice should the need arise. Contact our dental practice brokers for an accurate appraisal of your dental practice. We appraise dental practices in Oregon, Washington, Idaho, Montana, Alaska and Hawaii.
How are dental practice purchases financed?
Nearly 100% of practice sales facilitated by Consani Associates, Ltd. are cash sales. The full price is paid in cash at closing. We realize that few, if any, buyers personally can afford to pay cash, so Consani Associates, Ltd. has established relationships with lenders who specialize in dental practice acquisition funding. We can help you avoid the frustration of applying to banks and other lenders who do not understand dental practices, and will waste your precious time without results. Our lenders understand the dental profession and offer quick, easy, hassle-free service. Loans are generally only secured by the practice and do not require other collateral or guarantors. Nearly all of these loans are conventional and do not require SBA involvement, which adds to the time and expense of borrowing. Consani Associates, Ltd. work on your behalf to get the best terms and quickest service possible. Quick approvals and fast funding mean you can start earning income right away.
When is a practice ready for an associate?
Dentists considering bringing on an associate should carefully consider whether their practices can support one. Likewise, dentists thinking about joining a practice as an associate must be sure that the practice they join can support them. To evaluate the potential for success for an associateship we need to consider how far ahead a practice is solidly scheduled, what services are referred out that an associate could perform, the active patient count and the new patient flow. Whether you are looking for an associate or are interested in joining a practice, our dental practice sales and transition experts can assist you. Our brokers serve dentists in Oregon, Washington, Idaho, Montana, Alaska and Hawaii.
How do I recognize an especially good dental practice opportunity?
When looking for a good practice, it is important that you consider practice value rather than looking strictly at practice price. Price is the amount that a buyer pays a seller to acquire a practice and the price belongs to the seller. Value is the benefit received by the buyer from the purchase of a dental practice, and in the case of a dental practice, value is your net income. By understanding cash flow, buyers can make much better informed decisions in their best interest because they will know what income they can expect to live on. Consani Associates, Ltd. consultants can help you understand the intricacies of dental practice cash flow to ensure that your practice will provide you with a successful living income.
What are the advantages to buying a practice rather than building one from scratch?
There are many advantages to buying an established practice. The biggest advantage is the patient base you'll inherit. If you start your practice from scratch, it will take a good deal of time to build a patient base. That means it can also take time for you to start earning income. Another advantage of buying an existing practice is that the systems and the staff are already in place. This allows dentists to focus on patients rather than dedicating endless hours to getting a practice up and running. Another significant advantage of buying an existing practice is that funding is readily available. This is because financing sources recognize that the failure rate for dentists buying an existing practice is extremely low. For information on dental practices for sale in the Northwest, explore the dental practice listings on our site.