The goal of any associate-type arrangement is to create and maintain a mutually rewarding personal and professional relationship between two or more doctors. Unfortunately, many associate arrangements do not address one of the most fundamental elements for a successful relationship, that is, does the dental practice have the capacity to sustain both doctors?
With that in mind, here are some key areas related to the dental practice financial capacity that need to be addressed before entering into an associate arrangement. The key questions are as follows: Continue reading →
For a NAPB dental practice transition broker, negotiation is part of the job. From partnership buy-in agreements to space sharing agreements and everything in between, our days are spent dealing with contracts and covenants. Most of the time, negotiations go smoothly, but if one derails, it can cause a tremendous amount of stress, frustration and holdup for all parties.
The ultimate goal when buying or selling a dental practice is for all parties to walk away from the table feeling like they got a “good deal.” Tensions can run high when making such a big transition. The seller may be embarking on a new phase of life and they want to capitalize on years of hard work. The buyer may be just starting out or making a shift in their career and they don’t want to bet on the wrong horse, if you will.
Trusting in the process and having a sense of humor can really help your dental practice transition.