There are many web sites with dental practices for sale. So what should dental professionals be aware of when searching for a dental practice to buy. Whether the practice is a typical dentists office or an orthodontist with a full blown surgical practice dentists should apply standardized business rules when preparing to buy a practice. Practices are available for purchase in major cities like Atlanta, GA, Phoenix, AZ, Chicago, IL and San Diego, CA.
Dental practices for sale are on the market for many reasons. Some dental practices for sale are due to an impending retirement and other dental practices are for sale because of other seeminging inocous reasons. HOWEVER, some dental practices for sale can present real pitfalls for the dentist buying a dental practice.
Dentists buying a dental practices should investigate to determine the real reason for the sale. For instance; is the sale of the dental practice due to financial problems? If so it could be a good deal but the buyer needs to research for all UCC filings to make sure there are no outstanding liens other than the ones already disclosed.
Other reasons for dental practice sales that should be investigated thoroughly are:
2. Partnership breakups where partners are arguing
3. Location problems such as zoning issues, road construction around the office, limited access, etc.
4. Economic/Population issues; aging community, loss of major employers, transitional neighborhoods, crime, etc.
Dentists buying practices for sale should consult an expert that can help them navigate the complex purchase cylce. One of the most confusing parts of the practice purchase cycle is the loan application portion. There are a lot of financing options when buying a dental practice and they are the same whether the practice is Atlanta, GA or Phoenix, AZ. The rules apply similar in many major US markets.
Right now the most popular option is the 100% Dental Practice Loan. That’s right, 100% dental practice financing is currently available for dental practice purchases. 100% dental practice loans help dentists and orthodontists buy a practice and maintain their current cash flows by limiting the cost associated with a down payment.
Clearly there are other loans available, most associated with SBA loans for medical professionals and special SBA loans for dentists but the most exciting is the 100% dental practice financing. Dentists and Orthodontists that want to purchase a dental practice can receive free advice from Dividend America. Call for a free, no pressure conversation to discuss your dental practice financing needs.
The information in the article is just the tip of the iceberg with regard to things dentists and orthodontists need to know when buying a practice. Dividend America’s experts are business advisors and loan professionals that help our clients with loans and ideas on how to protect their business. So for more than just a 100% Dental Practice Loan, for business advice and so much more, call the president direct at 404-819-4511 or email [email protected]
Check out the Dental Practice Loan easy app by clicking on: Dental Practice Loans made easy!