Sell a Dental Practice
The CBI+Team Can Help You Sell Your Practice
2016 was another very successful year for my clients and me. I was personally able to help sell several practices last year and 2017 is shaping up to be even better. Each year we continue to grow larger and become more effective. We’ve now entered the Missouri and Oklahoma markets and I continue to work one-one-one with all of my clients.
We now have a bigger, targeted web presence for our sellers. I am attending more dental conferences this year in Arkansas, Oklahoma, Missouri and Texas where more potential buyers reside. We are utilizing more personal phone calls, direct mail and emailing into our exclusive database of several thousand potential and proven buyers of practices. We leave no stone unturned when we search for the right buyer for our clients.
My professional and dedicated staff always work tirelessly alongside me to help me help our clients. I honestly couldn’t do it without them. Their loyalty, hard work and persistence pay off and it inspires me to keep doing what we are doing. With the help of them we are also reaching out to even more dental schools this year as well as practicing dentists and orthodontists who are looking to purchase or expand their own practice. It is a lot of work to do this, but we have found what works best and continually improve up on it. Helping our clients sell their practices confidentially, quickly and for the most amount of money is our goal and we continue to make that happen.
Since every practice is different, we still create a detailed and personalized marketing plan for each client contingent upon what their needs are. We strongly believe and can prove that doing business the way we do it creates a relationship with all of our clients and gives us results. We continue to personally answer phone calls, emails and have meetings with our clients whenever they require it. In other words, clients hear from us on a regular basis as we do our job and get results for them.
If you are a dentist or orthodontist who is looking to sell your practice this year or next year, please contact me today. I assure you that we will work harder and more effectively for you than anyone else. You may always reach me by phone at 1-877-582-5200 or by email at casey.grimes@cbiteam. Don’t hesitate to contact me with any questions. I wish you an excellent New Year and look forward to helping you soon.” -Casey Grimes- CBI+Team Senior Advisor Practice Sales Specialist
“How much is my dental practice worth?” is by far the most common question we are asked. Dental and orthodontic practices typically sell for a percentage of collections based upon the last full fiscal year of collections. The typical rule of thumb is that a practice will sell for somewhere between 50% and 70% of collections although we have seen them sell for lower and for higher than that from time to time. Practices in desirable and more metropolitan areas will typically sell for closer to 60% and 70% of collections and sometimes even higher for very desirable locations. More rural practices will sell for closer to 50% of collections and sometimes lower. Age and condition of equipment, amount of Medicaid versus private pay and insurance pay, the amount of seller’s discretionary earnings and other variables may also influence these rules of thumb.
All furniture, fixtures, equipment and inventory are included in the purchase price. Accounts receivable typically are not included in that price but are often purchased for a discount on top of that. All cash is also kept by the seller. We work with several lenders that will loan on the purchase of dental or orthodontic practice and sometimes some owner financing is also done for qualified buyers.
We at the CBI+Team pride ourselves on getting our sellers the most money for their practice in the quickest amount of time. Each client we work with is treated with attentive and personal care in order to best assess their practice and then we develop a customized marketing plan to help them sell. We have multiple programs to help buyers attain money in order to purchase a practice and we have over 20 years of experience in helping people sell and buy practices. Call us today at 1-877-582-5200 for a free consultation and to get started.