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Katie Hines Office Transitions
Buyer Facts & FAQs
Buyers Questionaire
Buyer FAQs
 

Q: What do you charge to work with a buyer?
A:In most instances we are representing one of our own practice listings to you for your consideration. Because of this, we are paid directly by the seller of the practice and we do not charge a buyer any fee. We have a responsibility to both parties of a transaction to be fair and honest, and we work diligently to create a successful and equitable transition for all involved. Because we are paid by the seller, we stress to all buyers that you should also have representation in the form of a trusted attorney and CPA who are working to ensure that all your interests are being met.

Q: Do I need other advisors in addition to a practice broker? A: We believe that because a dental practice transition is such an important part of your business life, it is important to have several advisors on your side to protect your interests.  We recommend that you have a trusted accountant and attorney that are well-versed in the dental industry to guide you on all of the many ‘moving parts’ of a transition.  We work with very respected colleagues that we can refer you to if you don’t have your own representation yet.

Q: Are there ‘rules of thumb’ to how much a practice is worth?  
A: Some say that practices are worth 70% of gross collections, some say that you have to base the value on cash flow and not collections.  We find that rules of thumb are simplistic and don’t take into account the many factors that affect value.  To find out the true value of a dental office an expert in transitions should be consulted to conduct an evaluation of the practice.

Q: Will the staff stay after I purchase the practice?
A: The staff typically is as worried about keeping their job as you are about keeping them. If they leave, they have to start working for a new doctor anyway, so why wouldn't they give you a chance?

Q. Will my patients accept a new dentist?
A. Your patients will accept a new doctor if the introduction and transition are handled the right way. Your endorsement, coupled with staff acceptance and enthusiasm, is the key.

Q. How do you appraise a practice?
A. We take into account many factors when analyzing the value of a practice.  We do look at the history of gross collections, as well as cash flow – how the overhead expenses correlate with the income.  We also look to see what kind of dentistry is being practiced, areas of improvement, if and which type of insurances are being accepted, location of the practice, interior improvements to the office, and equipment.  All of these, and many other, factors account for what price the market will bear for a practice.

 
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