As you begin your career as an associate, practice ownership may seem more like a dream, rather than a milestone within reach. In reality, the preparation should start early. Practice owner Dr. Dan Butterman and his associate and son, Dr. Kevin Butterman, continue their story from episode 130 and talk about their future partnership. They discuss their initial ideas, transition timeframe and how they’re ensuring that Kevin is not only prepared for the clinical work, but also the administrative and leadership aspects of the business.

TT Ep 131 - The Jump from Associateship to Partnership

While traditional financing is most often used to fund private practice acquisitions, seller financing can also be a tool to help pay for the purchase. Seller financing may sound like an attractive option, as many believe it offers the potential for better rates or terms, but that’s not exactly the case. To help you understand the full picture and implications, this episode discusses common scenarios and reasons for using seller financing, how it can help (or hurt) your transition and how to know if it’s a viable option for you.

TT Ep 132 - Seller Financing in Practice Acquisitions

As a dental student or resident, you're likely juggling graduation requirements, career paths and personal relationships. And with student debt looming, it can all feel like a lot of weight on your shoulders. Noah Jones from the University of Kentucky joins Charles on this episode to share how he’s managing his priorities in preparation for the future. The way that Noah sees it: this stage is filled with open doors.

TT Ep 133 - The Dental Student Perspective

Practice price is only one component to a sale, yet it’s typically the one that sellers think about most. If you’re selling or transitioning your practice, and the valuation or market price comes in lower than expected, it can not only cause confusion, but also change the trajectory of your transition plan. Is there anything you can do about the price once it’s out in the open? What if you only have a short amount of time to react? Christy and Charles help make sense of why the price may be lower than expected and how to navigate this unforeseen circumstance. 

TT Ep 134 - A Lower Practice Price Than Expected

While the financial pieces often dominate the conversation in a DSO sale, there are many more factors involved in the process other than EBITDA and multiples. Christy and Charles help practice owners take a step back and understand all the key considerations when partnering with DSOs. From how the practice value is truly calculated, your preferred workback timeframe and your life after the sale, understanding these components will help you set the right expectations.

TT Ep 135 - Setting the Right Expectations for Your DSO Sale

Purchasing a dental practice comes with unique challenges and variables at every stage of the process. Whether you’re doing your due diligence on a practice opportunity or finalizing your letter of intent, soliciting guidance from a professional can help bring confidence along every step of the way. Christy and NDP Head of Consulting Bridget Schwebke discuss the various options our buyer consulting service offers and how it’s designed to help you achieve a smooth transition to ownership. 

TT Ep 136 - Confidence in the Buying Journey

What dental buyers valued in a practice a decade ago isn’t the same as what they prioritize today. Buyers are diving deeper into the due diligence process, have different desires surrounding location preferences, real estate purchase options, and practice data, among other things. NDP Practice Listings Manager Kathy Whiting shares her experience, illustrating how buyers’ preferences have shifted throughout the years. The key message for selling doctors: As buyer priorities evolve, sellers who adapt can showcase their practice in a way that stands out to the right buyers. 

TT Ep 137 - What Dental Practice Buyers Want: Then and Now

Once you’ve sold your practice to a new owner, the reality of retirement can feel different than expected. With a lower income and a new routine, this next chapter can bring some uncertainty. Building a strategic plan can help you feel confident about the road ahead. Christy and Charles offer key considerations, from filling your time, budget management, tax planning strategies and more. 

GET MORE
This blog provides a list of operational responsibilities to ensure the practice is ready for new ownership: https://bit.ly/47eyTu4.

TT Ep 138 - Retirement: The Next Chapter

What factors make for a “Don’t Mess This Up” opportunity versus a “Buyer Beware” opportunity? This episode speaks to the buyers out there, helping to identify the differences between the right and wrong practice opportunity. Tune in as we take a look at the financials, doctor work, real estate, location and other aspects to consider as you explore different opportunities. 

This episode originally aired May 18, 2022.  

TT Encore Episode – "Don't Mess This Up" vs. "Buyer Beware" Opportunities

While start-up dental practices offer a blank slate to design the practice you’ve always envisioned, not having the built-in patient base and cash flow that a practice acquisition typically provides can be a big challenge. When it comes to specialty start-ups, this adds a different level of complexity. In this episode, we break down which specialties are in demand, which involve higher costs to launch, and which carry the most competitive pressure.

TT Ep 139 - The Specialty Start-Up

Charles and Christy had a great time at the ASDA National Leadership Conference in Chicago and had a great interactive live Q&A session on transitions. It was so great that they had a ton of unanswered questions and we thought it would make the perfect podcast episode! 

Listen in to get their take on these awesome questions....

1) Benefits of owning a solo practice vs. a group practice?
2) What is the best way to manage staff?
3) What other factors do you look at other than location?
4) When do you know the timing is right to buy a practice?
5)What is the first thing you do/change when you buy a practice?
6) If you are moving to a new state with no connections or insight…are you still doing a “letter campaign”?
7) How long should I plan on owning?	
8) How to choose an area that will benefit me 20 years from now (i.e. changing demographics)?
9) How much extra time do you spend on the practice as an Owner vs. an Associate?
10) What is the best way to acquire new patients to grow a start-up?

TT Ep 33 - Transition QA - ASDA NLC

Transition Talk is a podcast about dental practice transitions. NDP managing partners Charles Loretto and Christy Ratcliff combine their expertise to provide guidance and tips and share real-life scenarios revolving around dental practice transitions.

Originally created to help dental professionals navigate the sometimes-messy path to practice ownership, the podcast has evolved to cover the full life cycle of a dental practice and the different types of transitions along the way, from buying-in, starting-up, partnership to exiting ownership.