BUYING A DENTAL PRACTICE:
A CAREER MILESTONE
Buying a dental practice is one of the biggest financial decisions you will make and a proactive step in maximizing your career. With a lot at stake and a range of emotions on the line, it’s important to be aware of the various pieces that go into this process.
BUYER CONSULTING OPTIONS FOR YOUR UNIQUE NEEDS
Buying a dental practice is an intricate process, comprised of several pieces and variables that make each situation unique. Whether you’re in the beginning stages of analyzing the opportunity, ready to submit an offer or looking for your next step, we can meet you where you are and provide guidance for a smooth and confident transition.
Our buyer consulting service consists of three options that can be tailored to address your specific needs.
BASIC ANALYSIS SUPPORT
This engagement offers a foundational base to help assess the practice opportunity. It includes a condensed financial review of the opportunity that focuses on the past two years, allowing insight into the practice’s cash flow and financial performance. We also provide suggestions on areas that may need further examination as you analyze the opportunity.
ADVANCED ANALYSIS & OFFER SUPPORT
This engagement provides a deeper view of the practice opportunity with additional financial analysis and support in the offer process. It includes a full financial review of the practice opportunity that focuses on the past three years. The analysis gives you insight into the practice’s cash flow and financial performance, and it also provides an estimate of the market price.
We also assist in communicating with the seller for any financial or document clarifications, and we provide strategic guidance for drafting and negotiating the letter of intent.
COMPREHENSIVE BUYER CONSULTING SUPPORT
This engagement includes all aspects of the Advanced Analysis & Offer Support option, and builds on it, providing full support from start to close. Our team represents you throughout the transition process by first providing the full financial review of the practice opportunity that focuses on the past three years. The analysis gives you insight into the practice’s cash flow and financial performance, and it also provides an estimate of the market price.
We then facilitate and provide strategic guidance of the process from the letter of intent through close. This includes facilitation of the legal documentation with an attorney, navigation of lending requirements, and guidance through the operational aspects of a transition, including patient/referral notification and clinical due diligence.
COMPLIMENTARY RESOURCE:
BUYERS CHECKLIST
The idea of ownership can feel both overwhelming and exciting. To prepare for the journey of buying a dental practice, our complimentary Buyers Checklist can be your starting off point. This tool helps you identify 95 things to consider when assessing a purchase opportunity.
GAIN AN UNDERSTANDING OF WHAT YOU CAN AFFORD
Getting prequalified for lending can help give you a good idea of your borrowing capacity for a practice, provide you with leverage over non-qualified buyers and speed up the negotiation and sales process.
NDP partners with the top lenders in the dental industry and can help you navigate your lending options to get the prequalification process started. Fill out the form through the link below, and we’ll reach out, learn about your unique situation and connect you with a dental-specific lender regardless of where you are in the transition process.
EARLY CONSIDERATIONS
Before buying a practice, consider these factors to pave the way for a smooth process.
YOUR ADVOCATE THROUGH
THE PURCHASE PROCESS
NDP ensures you have confidence to tackle every aspect of buying a dental practice. We work in your corner, providing the education and detailed consulting needed to successfully close on your ideal practice.
