Next Level Consultants Blog

Did you know that roughly 77% of dentists own their own practice? Starting and running your own dental practice can be quite exciting; after all, this is something you’ve been working towards for several years! However, you might have a few questions about financing a practice. Keep reading to learn more about some tips and options for supporting your new practice to ensure that you’re set up for long-term success.

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There are several factors to consider once you’ve decided to sell your dental practice, regardless of the reason behind your decision. That said, it’s important to ensure that everything is squared away and that you’re ready to make a successful sale! Keep reading to learn more about what goes into selling a dental practice, along with some useful tips for closing the deal.

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You’ve finally finished dental school—congratulations! It’s now time for you to begin changing smiles and lives; but where are you supposed to start? Many new dentists wonder if they should focus on buying an existing practice or opt to start their own from scratch. Both options have the chance for success or failure; but which is the best route to pursue? Keep reading to learn about some tips and considerations for each option so that you’re able to make an informed choice that you feel confident about.

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If you’re gearing up to purchase a dental practice, you might have questions and concerns about such an endeavor. Fortunately, purchasing a dental practice can be a fairly straightforward process if you have the details figured out and know who to talk with. That said, here are some tips to help you navigate the process and ensure that you and your new practice hit the ground running.

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If you’ve always pictured yourself as the owner of your own practice, your dream might seem far off in the distance; especially if you’re neck-deep in student debt and have no idea where to start! But there’s no reason to panic, as your dream can still be made into reality—and perhaps much sooner than you think! Keep reading to learn more about five financial must-do’s to consider before purchasing your first dental practice so that you’re set up for long-term success.

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When it comes to buying a dental practice, everyone wants the deal to close as quickly as possible. Whether you’re the seller or the buyer both parties would like a smooth transition. A common phrase in business circles is time kills deals. Something that often gets overlooked is putting together a proper purchase and sales agreement.

After the negotiating conversations, buyers and sellers simply don’t have the energy or ability to parse out another complicated document. Buyers typically construct a Letter of Intent just to get to the negotiating table. Then there are negotiations.  Then at the end of a deal a legally binding document must be created where both parties are happy and in agreement. In reality, this is one of the most important things you can utilize as a buyer to hedge protections that you deserve in good faith. (more…)

Pretty much everyone is tired of thinking about COVID-19, but if you’re considering buying a dental practice, then it is definitely a factor you shouldn’t overlook. It has had a notable effect on how banks are giving out loans, and by knowing how things have changed, you can ensure you get the money you need quickly and without hassle. What is different now? Find out what you need to know in today’s blog. (more…)

Needless to say, the COVID-19 pandemic has affected just about every aspect of people’s lives, and the dental world is no exception. When it comes to buying a dental practice, things are different now, and being aware of what has changed will make your life significantly easier if you’re thinking about becoming an owner. How has COVID changed the way people buy dental practices? We’ve narrowed it down to the three biggest shifts that have occurred in the last year and a half. (more…)

Unless you have a particularly rich and generous uncle, chances are that you’re going to need a loan in order to buy a dental practice. While banks are being a little more stringent these days due to COVID woes, they are lending, and knowing a few things ahead of time can help make the process of getting the funding you need (relatively) headache-free. Here are 3 tips to secure funding for buying a dental practice. (more…)

Needless to say, buying a dental practice is complicated. Our mission at Next Level Consultants is to make it as easy as possible, which we do by giving prospective buyers access to a team of experts who have worked with hundreds of dentists and successfully purchased countless practices. While there is certainly a lot to consider, here are 5 of the most important things to keep in mind when buying a dental practice. (more…)