Statistics tell us that most doctors would prefer to own their own practice. Over time, the practice that you purchase, or start, will most likely become one of the largest assets you build over your professional career, thus it is important that you find the practice that is right for you. As you begin your process of locating and ultimately purchasing a practice, be sure to have a transition plan in place. As a Buyer, there are some key concepts that will make your transition into an existing practice much easier. For example:
- Have a proven production history as an associate or resident, minimum of one year.
- Be financially attractive to lending institutions, low credit card debt with some liquidity.
- Plan where you want to locate long term and avoid working as an associate within ten (10) miles of that location, due to restrictive covenant lock-outs.
- Complete and understand the due diligence on the subject practice.
- Build a team of experienced dental advisors to help ensure your success.
JPA Dental Transitions can help you locate the practice that is right for you and where you want to be. Due to our co-brokering agreement with many of the other brokerage groups in North and South Carolina, if we do not have a practice for you, we can certainly help you find what is available in the marketplace. Purchasing a practice is a big step, and one that the majority of doctors will make. Let JPA Dental Transitions help your reach your practice ownership goals. CLICK HERE to fill out a copy of our suggested Buyer Due Diligence worksheet. Or download the form on the link page. CLICK HERE to download a copy of our Non-Disclosure Agreement.