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The dental spouse, although not always considered the owner of the practice, is a true “Partner.” Spouses play a major role in how the transition will occur.

“Nowadays people know the price of everything and the value of nothing.”

OSCAR WILDE

This quote was written many years ago, but how true it is today!  It is incredibly disturbing to now see Internet advertising “gimmicks” where a person or a business entity has been given the privilege of selling a dentist’s priceless dental practice, list the selling price as if they were selling a car or refrigerator! Of course, selling price is important, but when used as an indicator of value, it assumes that all dental practices are created equal.  They are not.

SAS Transitions, Inc, Dental Practice Brokers, Owner/Broker Susan A. Spear has over 45 years experience in dentistry with 26 of those years dedicated to dental practice transitions. Susan has been involved in hundreds of successful transitions throughout Colorado and the United States.

With so many DSO’s “popping up” and I do mean “popping up” in the dental practice sales market, it is very important to know what a Qualified Private Buyer should be. The dentist who wants to purchase a dental practice in today’s marketplace should be honest, caring, authentic and willing to demonstrate that he/she is committed to helping the seller transition his/her practice in a supportive and professional manner.

Buying a dental practice involves making the best decisions not only at the time of purchase, but for your future!  One very important decision a buyer will make in 2021 is choosing the “right” lender. Over the last several years, the lending scene has exploded with competitive interest rates and service programs.  However, in 2020, we experienced an unprecedented experience when banks were called upon to offer SBA backed loans to help businesses survive the epic event of the COVID-19 Pandemic. Banks were faced with very little guidance or direction on how the lending would occur, who would be the major players, and how it would all work out after the dust settled.  Banks were on call for several months to manage SBA fund distributions. This caused some changes in acquisition lending for dental practice sales and new start-up businesses.

Many dentists who practiced as associates in 2020 were furloughed or even lost their jobs. Although owners had to deal will difficult processes, I have heard that those who owned their practices during this time are glad they were owners because they had a job to go back to after the Pandemic Pause ended.