Have you thought about purchasing your own dental practice? Perhaps you graduated a year or two ago and have been working as an associate so you can pay down your student loans. You are committed to your profession and are determined to succeed—to make a difference.
Working as an associate is a great way to begin your career, but it can also be limiting. You are probably handling patients with less complex care needs that are less interesting and less financially beneficial. If you are ambitious, you will want to stretch yourself both professionally and as a businessperson. Buying a dental practice may be exciting and help you do that, but it can also be risky. You are not alone; most graduating dentists and associates dream of owning a practice one day and building it into a success beyond their expectations.
Purchasing a dental practice is a significant commitment, one you should not take lightly. The golden key is to find a clinic that is right for you—and to do it the first time. There are no do-overs; with the right practice, you make lots of money and have fun along the way, choose unwisely, and it can be a career-buster. The grief and the financial consequences of getting into a bad deal can be devastating.
Purtzki Transitions can lead you safely through the minefield of buying a practice and help you get the best deal possible. It’s what we do.
For more information, pre-order your copy of The Simple Guide to Buying a Dental Practice and Getting a Great Deal by Manfred Purtzki (coming March 1, 2022).
Buyer Representation
Purchasing a dental practice is one of the most important financial decisions you will make in your career. Often, you are left to fend for yourself when it comes to evaluating the practice opportunity. Even though your accountant or lawyer may assist you in this process, they are usually unfamiliar with the complexity of a dental practice transition.
Purtzki Transitions Inc. can help you:
- Find the most suitable opportunity
- Establish a fair market value
- Negotiate the best deal, and prepare a written offer
- Answer the many questions you will have during the process
- Arrange favorable bank financing
Conducting Due Diligence
Once the letter of intent is signed by both parties, Purtzki Transitions Inc. will help you undertake a detailed investigation of the practice. This due diligence ensures that you are receiving exactly what you have agreed to purchase. The process can also uncover any skeletons in the closet should any exist.