http://dental-sales.com/2012/10/buying-a-dental-practice-requires-strong-team-advisors/ (888) 298-7363 The Importance Of Building A Strong Team Of Advisors

1. THE IMPORTANCE OF BUILDING A
STRONG TEAM OF ADVISORS
Buying A Dental Practice Requires A Strong Team Of Advisors
Buying a dental practice is typically a one-time event and the largest purchase
a dentist will make in his or her lifetime. While McLerran & Associates usually
represents the selling dentist in our transitions, our goal is to put together a
win-win transaction for all parties involved.
For more information on Buying A Dental Practice call our office at
210-737-0100 or visit our website at www.dental-sales.com

2. THE IMPORTANCE OF BUILDING A
STRONG TEAM OF ADVISORS
In addition to guiding the buyer through the process of buying a dental
practice, we focus on helping the buying dentist build a strong team of advisors
to obtain professional guidance on each aspect of the purchase (due diligence,
contract review, transition, etc.). Here is a list of advisors that we recommend
a buying dentist have on their team:
For more information on Buying A Dental Practice call our office at
210-737-0100 or visit our website at www.dental-sales.com

3. THE IMPORTANCE OF BUILDING A
STRONG TEAM OF ADVISORS
Dental Attorney – It is imperative to utilize an attorney who is experienced in
handling practice transitions and understands the nuances involved with
buying a dental practice. The attorney should represent the buyer’s interest in
reviewing the asset purchase agreement, real estate contract, office lease or
lease assignment, and any other documentation involved in the
purchase. After consulting with the buyer’s accountant, the attorney should
also assist the buyer with setting up the corporate entity that will be
purchasing the practice. An attorney should be a deal maker, not a deal
breaker, and work to protect the buying dentist’s interests without damaging
the goodwill between the buyer and seller during the process.
For more information on Buying A Dental Practice call our office at
210-737-0100 or visit our website at www.dental-sales.com

4. THE IMPORTANCE OF BUILDING A
STRONG TEAM OF ADVISORS
Dental Accountant – Hiring an account who is experienced in working with dental
clients will also help to ensure a doctor’s success when buying a dental practice. A
knowledgeable accountant should be able to assist the buyer in evaluating the practice
financials, cash flow, and purchase price of the practice. They should also understand
and advise the buyer regarding the tax consequences associated with the allocation of
the practice purchase price and offer guidance on what type of corporate entity the
buying doctor should establish to serve as the owner of the practice. The accountant’s
role is not finished once the sale is complete, as they can continue working with the
new owner to properly set up their financial books and put systems in place to
monitor overhead and collections as well as prevent fraud and theft.
For more information on Buying A Dental Practice call our office at
210-737-0100 or visit our website at www.dental-sales.com

5. THE IMPORTANCE OF BUILDING A
STRONG TEAM OF ADVISORS
Dental Consultant – A dental practice management consultant can help the
buying dentist get “under the hood” of the practice by assisting with a chart
audit and evaluating practice management systems, collection policies,
treatment planning, patient base and new patient flow, marketing, etc. This
analysis can allow the buyer to assess the health of the practice, identify
strengths and weaknesses, and determine if the office is a good fit for them. A
practice management consultant can also provide ongoing consulting during
and following the transition to ensure the practice is operating efficiently.
For more information on Buying A Dental Practice call our office at
210-737-0100 or visit our website at www.dental-sales.com

6. THE IMPORTANCE OF BUILDING A
STRONG TEAM OF ADVISORS
Dental Lender – Buying a dental practice is typically contingent on the buyer’s
ability to secure financing for the amount of the purchase price. Working with
a lender that understands how to evaluate dental practices and has experience
in financing practice acquisitions can help to ensure a smooth and timely
transition.
For more information on Buying A Dental Practice call our office at
210-737-0100 or visit our website at www.dental-sales.com

7. THE IMPORTANCE OF BUILDING A
STRONG TEAM OF ADVISORS
When the time comes for you to take the step towards buying a dental
practice, be sure to surround yourself with advisors who have the experience
and knowledge to protect your interests throughout the transition process.
For more information on Buying A Dental Practice call our office at
210-737-0100 or visit our website at www.dental-sales.com

8. THE IMPORTANCE OF BUILDING A
STRONG TEAM OF ADVISORS
For more information on Buying A Dental
Practice call our office at
210-737-0100 or visit our website at
www.dental-sales.com