Transition Resources

The Buyer’s Checklist: A Guide to a Successful Dental Practice Transition

 

Whether you just graduated from dental school or you’ve been practicing for 10 years, the idea of buying a dental practice can be a bit overwhelming. Where should you practice? What is a practice worth? How updated should the practice be? How long should the seller work back? These are just a few of the multitude of questions you’ll have to consider for a smooth practice purchase. To help navigate the buying process, Charles Loretto and his team at National Dental Placements (NDP) compiled a list of 90 factors to be mindful of before signing any paperwork- the Buyer’s Checklist.

In 2005, Loretto founded NDP as company focused on matching dental practices with associates. Years of experience studying the ins and outs of dental practices, practice transitions and dental partnerships have made Loretto and his team an invaluable resource for buyers, sellers and career seekers.

When developing the Buyer’s Checklist, NDP took painstaking effort to address every aspect of a practice purchase. From the lease or real estate to dental equipment to legal, (and much more), NDP’s checklist is a comprehensive guide for buyers. With the Buyer’s Checklist, interested buyers can work with NDP to best determine which opportunities best align with the buyer’s current needs and future personal and professional goals.

While the Buyer’s Checklist consists of more than 90 questions to consider when buying a practice, it needn’t overwhelm buyers. NDP has years of experience guiding dentists through the buying process, driven by a sincere desire to help individuals. In fact, Loretto travels throughout the country, speaking to the benefits of practice ownership. He specifically notes the following five advantages of ownership:

  1. Owning a practice gives dentists the opportunity to make more money
  2. Having equity in a practice is highly advantageous
  3. Strategic tax planning is in the hands of the owner
  4. Owning gives dentists more control of their future (both personally and professionally)
  5. Preparing for retirement is in the hands of the owner

During his travels, Loretto often speaks to dentists who have long dreamt of owning a practice, as well as new graduates who are unsure how to structure their future. By sharing his experiential knowledge and his personal insight, Loretto and his team at NDP have created multitudes of new practice owners and partnered associates. “When new owners speak to me about the impact NDP has made in their lives, it makes all the the hard work worth it,” says Loretto.

Whether you’ve dreamt of owning a practice for years, or you’re only slowly allowing yourself to imagine the possibility now, NDP is ready to help you find answers to the unknowns.

 

Transition Resources for Buyers

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