A common question we get from buyers and sellers is: how much will it cost me to get through the process? There is no exact answer as every deal is different and can entail more or less hours from your advisers. This post will outline so of the average costs for you to expect to get through the process from start to finish.
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By Larry Chatterley and Randon Jenson, CTC Associates
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:
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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.
Here are a few tactics to negotiate like a pro:
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