Associate Dentist to Owner Podcast

📋 Free Download: Practice Evaluation Checklist https://practiceown.com/pdfI recently helped a dentist save $161,000 on their dental practice acquisition. In this video, I walk through exactly how we did it, from negotiating $100,000 off the purchase price to saving over $60,000 on financing. When you're spending a million dollars, small decisions can make a massive difference.What we cover: - How we found the right practice after 3-4 months of looking - Why we offered $100K below asking price (and the seller accepted) - How time on market gives you negotiating power - Saving $60,000 by switching to the right bank - Why you should never just use one lender - A separate client who saved $500,000 on their purchase price - Why you need someone on your side during this process💼 Work with me: I help dentists evaluate dental practices before they buy. Every practice I evaluate gets compared against my database of 500+ evaluations. https://practiceown.com📬 Questions? Reach out directly: chris@practiceown.com0:00 Intro0:21 How the Process Started1:20 Looking at the Broker Packet2:48 Local Market Knowledge and Fair Pricing3:28 Offering $100K Below Asking Price5:40 Saving $60K by Switching Banks7:33 This Is Extremely Common8:07 A Client Who Saved $500,0009:22 Don't Do This Alone

📋 Free Download: Practice Evaluation Checklist https://practiceown.com/pdfIf you're buying a dental practice, be very careful about listening to advice from accountants. Accountants are great for taxes, but they don't understand how dental practices actually work. In this video, I break down why financial statements alone can't tell you if a practice is worth buying, and how the wrong advice can cost you hundreds of thousands of dollars.What we cover: - Why accountants don't understand dental practice acquisitions - The fundamental trap of assuming buyer production = seller production - Why "unprofitable" practices can be goldmines for buyers - How older sellers slow down and stop treatment planning - Using a 500-practice database to spot over-treatment red flags - Why the most profitable practices on paper can be the worst to buy - The danger of buying a practice with no patients💼 Work with me: I help dentists evaluate dental practices before they buy. Every practice I evaluate gets compared against my database of 500+ evaluations. https://practiceown.com📬 Questions? Reach out directly: chris@practiceown.com0:00 Intro1:02 The Fundamental Trap: Seller vs. Buyer Production2:28 Why Older Sellers Stop Treatment Planning4:56 Goldmine vs. Overcrowded: Real Examples5:32 The 500-Practice Database and Crown Ratios6:09 Gross Negligence and Over-Treatment7:27 Buying a Practice with No Patients8:57 Key Takeaway

Today, we are going to talk about how much you should pay for a dental practice. We are going to look at the different valuation methods practice brokers often use. And then finally, we're going to look at how you as a buyer can protect yourself and make sure that you are paying a fair price. 🔔 Download the Free Practice Evaluation Checklist: https://practiceown.com/pdf📕 Check out my book "Buying Freedom" for a deeper dive into the process: https://amzn.com/dp/B0DGGC7WG8💌 Email me at: chris@practiceown.com🌍 Website: https://www.practiceown.comChapters:00:00 How much should you pay for a dental practice? 00:42 How practice brokers value practices 01:41 Asset-based valuation 02:29 Revenue-based valuation 05:29 Net income-based valuation 09:46 Per patient valuation 15:04 Market/comparable sales-based valuation 15:57 Brokers work for the seller 23:11 Affordability-based valuation 27:10 Negotiating power

Today we're going to talk about all the steps that go into buying a dental practice by using a real-life example of a practice that was purchased recently. The buyer is doing very well already, just 6 months in. 🔔 Download the Free Practice Evaluation Checklist: https://practiceown.com/pdf📕 Check out my book "Buying Freedom" for a deeper dive into the process: https://amzn.com/dp/B0DGGC7WG8💌 Email me at: chris@practiceown.com🌍 Website: https://www.practiceown.com00:00 new owner01:17 the first practice evaluation02:20 seller out of network07:38 calculating buyer's expected revenue08:51 take your time, do this right09:43 accountants don't always understand dental transitions10:35 finding more practices for sale12:23 the perfect practice13:34 letter of intent14:57 how long does it take?15:16 getting a loan to buy a practice17:27 hiring a lawyer18:13 everything else19:35 is it worth it?

Big changes are coming to student loans that could reshape dental education and the future of the profession. I break down what the new rules mean, why they’re happening, and how they’ll impact dental students, new graduates, and current dentists.🔔 Download the Free Practice Evaluation Checklist: https://practiceown.com/pdf📕 Check out my book "Buying Freedom" for a deeper dive into the process: https://amzn.com/dp/B0DGGC7WG8💌 Email me at: chris@practiceown.com🌍 Website: https://www.practiceown.com0:00 Massive student loan changes ahead 0:36 Cost of dental school today 1:38 The rise of unlimited Grad PLUS loans 2:31 Explosion of new dental schools 3:14 Why $200K won’t cover the cost 4:00 Limited options for students 5:20 The risks of private student loans 7:25 Practice ownership and repayment strategies 9:15 How this affects current dentists 11:30 The DSO advantage and associate trap 13:55 Final thoughts: why timing matters now

Many dentists never break past the income ceiling they hit as associates. In this video I show you the path I’ve seen work over and over again, the one that takes you from “comfortable” to real financial freedom. Even one step can keep you stuck for years.🔔 Download the Free Practice Evaluation Checklist: https://practiceown.com/pdf📕 Check out my book "Buying Freedom" for a deeper dive into the process: https://amzn.com/dp/B0DGGC7WG8💌 Email me at: chris@practiceown.com🌍 Website: https://www.practiceown.com0:00 Introduction 0:43 Step 1: Find the busiest associate job 5:36 Step 2: Protect your flexibility in contracts 8:49 Step 3: Become an owner as fast as possible 10:14 Step 4: Buy a practice, don’t do a startup 15:40 Step 5: Choose the right practice to buy 22:42 Step 6: Financing and saving 25:34 Step 7: Biggest risk in buying a practice 28:00 Final roadmap (recap)

In this episode, I walk you through a real case study comparing two practices that looked identical on paper, but had wildly different income potential once we dug into the numbers. We’ll look at: Active patient count, Revenue per patient, Procedure mix, Overhead breakdown, Rent traps and payroll pitfalls. If you're a dentist thinking about buying a practice, this is a must-watch before you make an offer.🔔 Download the Free Practice Evaluation Checklist: https://practiceown.com/pdf📕 Check out my book "Buying Freedom" for a deeper dive into the process: https://amzn.com/dp/B0DGGC7WG8💌 Email me at: chris@practiceown.com🌍 Website: https://www.practiceown.com00:00 Choosing the Right Practice00:49 Practice Overview & Metrics01:47 Net Income Comparison03:17 Before You Buy04:42 Patient Recall & Production06:07 Active Patient Count07:38 What You're Really Buying09:26 Fillings, Crowns & Growth12:30 Implants, Dentures & Opportunity13:24 Preventative Care Indicators15:16 Projected Income Differences15:51 Payroll, Rent & Loan20:28 Calculating Net Income26:25 Seller Revenue per Patient27:46 Make the Right Choice

Being an owner of a dental practice is amazing. It's incredibly rewarding and you can make a lot of money as well as have a lot of control and freedom, but only if you take into account these risks. 🔔 Download the Free Practice Evaluation Checklist: https://practiceown.com/pdf📕 Check out my book "Buying Freedom" for a deeper dive into the process: https://amzn.com/dp/B0DGGC7WG8💌 Email me at: chris@practiceown.com🌍 Website: https://www.practiceown.com00:00 The Path to Dental Practice Ownership00:37 Risk #1: Understanding the Upfront Costs02:15 Risk #2: Leaving the Security of an Associate Job05:02 Risk #3: Navigating Staffing Challenges and Theft08:24 Risk #4: The Owner's Responsibility for Repairs09:40 Risk #5: The Emotional and Mental Load of Ownership11:46 Risk #6: The Possibility of Going Out of Business14:11 Risk #7: Avoiding the Low-Income Death Trap19:13 The Advantages of Practice Ownership vs. Being an Associate