You are starting a new business
From Dentist to Business Owner
Dental schools excel at teaching the clinical side of dentistry. But the business side? Not so much. That’s where we come in. We’re passionate about helping the next generation of dentists understand the business of dentistry and unlock their potential to become the best practice owners they can be.
Buying or starting up a practice? We have helped more than 600 practice owners navigate the process since 1990.
More Than Just Numbers
We understand the challenges of transitioning into practice ownership. That’s why we focus on helping you navigate your first 90 days with confidence. It’s more than the numbers. It’s your team, practice philosophy, marketing, compliance, and more. Our job is to help guide our clients with their decision-making rubric—we are your soundboard and trusted advisor.
Unlock your full potential as a dental practice owner.
How Our Consulting Process Works
Phase 1
When evaluating a purchase transaction, our objective is to assess the cash flow of the practice, the reasonableness of the purchase price, and the terms of the deal. We focus heavily on evaluating the cash flow and overhead to determine whether or not the practice can cover the debt service and leave enough left over to pay you a sufficient income to cover your household expenses. We also provide assistance with the financial evaluation and tax matters related to the acquisition of your target dental practice.
The scope of our phase 1 work will include:
- Complete a preliminary review of the practice valuation report/broker’s prospectus (if available)
- Review the past year’s tax returns and current year-to-date profit statement of the practice and assess the historical cash flow of the practice
- Correspond and/or meet with you to discuss the pros and cons of pursuing the purchase of the target practice
- Guide you through the acquisition process and actions required to complete the transaction
- Perform an in-depth financial evaluation of the practice and prepare a cash flow analysis and stress test cash flow
- Provide you with our findings and recommendations
- Assist with drafting your Letter of Intent (LOI) as needed
We require a $3,000 retainer payment deposit upon the inception of our engagement, which will be billed upon your e-signing of an engagement.
Phase 2
The scope of our phase 2 work will include:
- Guide you through the acquisition process and actions required to complete the transaction
- Assist you with the purchase price allocation
- Correspond and meet with you and your attorney as needed
- Assisting with setting up your Gusto payroll system
- Recommend HR best practices
- Help with state tax agency registration questions
- If you sign a 1-year contract for post-acquisition bookkeeping & tax accounting services, then we will forego the Phase 2 fee!
$3,000 payment upon completion of our engagement, which will be billed upon closing of your practice, unless signing up for post-acquisition accounting services.
*Please note this fixed-fee project only applies to standard on-market transactions. Off-market practices will be considered hourly special projects.
Avoid These Financial Mistakes Most New Dental Practices Make
- Having the correct staff model is key to a successful start-up. You want to align staff expenses with your revenue model.
- Not spending enough on marketing. Practices that want to grow should allocate 3-5% of their revenue to marketing/promotional expenses. Remember, adding 10 new patients a month is breaking even.
- Overestimating cash flow on a transition
- Not saving for estimated tax payments
- Not leaving enough working capital in the business. We recommend at least 1.5x average monthly expenses.
Why Dental Practices Trust Our Expertise
We focus on cash flow production and help build a post-transition budget. We want to make sure our clients acquire the right opportunity—one that suits their needs, makes their world spin, and has enough cash flow to service the debt and pay them the same or more than being an associate. Owning a practice is stressful at times, and we want to make sure our clients achieve the financial rewards of doing so.
From Passion to Profit
Ready to take control of your dental career and unleash your entrepreneurial spirit? Don’t let the transition from dentist to business owner leave you feeling overwhelmed. With over 600 successful practice owners guided since 1990, we bridge the gap between clinical expertise and business acumen. Let us help you build a thriving dental business that reflects your passion for dentistry and financial success.
