How to Buy a Dental Practice
The process of purchasing a dental practice might take time, but it does not have to be complicated. Below are the steps we recommend buyers take when preparing to purchase their practice.
1. Sign the Confidentiality Agreement Electronically
The transition of a dental practice is highly confidential and requires each prospective buyer to sign a Confidentiality Agreement. After signing this Agreement, we can share with you detailed information about available practice opportunities. The information we provide may include an appraisal or valuation, tax returns, cash flow analysis, practice profile, demographic report as well as the Seller’s name and practice location.
2. Complete the Buyer Profile Online
By answering a series of questions in the Buyer Profile, we can better understand your goals, expedite the process, and notify you when new opportunities become available. We also provide your completed Buyer Profile to the Seller as a way of introduction.
3. Review the Appraisal
After you have identified a listing on our website that seems promising, we can email to you the appraisal or valuation for that specific opportunity. Our thorough analysis will help you understand the overhead, future earnings potential based on historic data and the true return on investment of each opportunity.
4. Prequalify for Financing
We can refer you to lenders that specialize in dental practice acquisitions. Prequalifying with a specialized lender will help you understand how much practice you can afford, provide you an advantage when it comes to making an offer, and expedite the loan process after an offer is accepted. For some Buyers, prequalifying for financing is the first step taken to purchase their practice.
5. Meet the Seller
We will arrange for you to meet with the Seller at their practice before or after business hours. This will allow you to privately visit with the Doctor without interruption as well as see the facility and equipment. During your visit, we encourage you to ask questions to better understand the practice systems and philosophy of the Seller. We request during your visit that you direct all questions regarding purchase price towards us so that the goodwill between you and the Seller is maintained.
We look forward to helping you purchase your future practice. To start this process, take the first step by signing the Confidentiality Agreement. Click here to sign the Confidentiality Agreement.
