Finding your Ideal Practice (A guide for new buyers)

Drew Phillips, CPA | CFO Advisor   You have waited a long time to realize your dreams of practice ownership. You have read everything you can get your hands on, listened to countless podcasts, met with mentors and dental classmates that have already taken the plunge into ownership, all to hopefully gain a leg up in the buying process. The more you read and listen the more you begin to realize there is to learn and the feeling of being overwhelmed or uneasy about the buying process may...Read More

Why are dentists selling these days?

Wes Read CPA, CFP® PracticeCFO is coming up on six years since formation. During that time, we’ve worked with hundreds of dentists and learned a lot of lessons. One striking lesson we’ve learned during that time is that change is continuous. It’s always occurring. Indeed, its permanent.  The change that often comes unexpectedly to us is when a dentist decides to sell their practice. One would expect the decision to sell to be predictable. In other words, a dentist runs a great career,...Read More

Is it time to refinance?

Greg Maravilla, MBA, CPA, CFP® | CFO Advisor / Partner   As the stock and bond market signal recession and the Federal Reserve having recently dropped its fed fund rate, we are likely to see bank interest rates doing lower.  30-year mortgage rates are now around 3.7% and practice loans are in the low 4%.  As a result, if you have existing debt, you might consider refinancing to save on interest expense.  Is it worth it?  Some things to consider first:   Prepayment penalties –...Read More

Pitfalls of Buying a Satellite Office from a Multi-Office Practice

As we’ve written here before, we rarely encourage doctors to buy multiple offices.  The reason for this is the number of failures we’ve seen in the added offices.  And eventually these failing satellite offices go back on the market while the multi-office practice owner retreats to her/his strong “home base” office.  Deal-seekers, this is a good way to get a discounted office, but there’s a reason the price is likely low.  Here’s what to look for:   1.Financial...Read More
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