Buying a Dental Practice

Working With A Buyer's Representative

When Buying a Dental Practice

Buyer representation is one of the best ways to hedge any risks when buying a dental practice. Next Level Consultants has been a part of hundreds of practice acquisitions and knows how to avoid pitfalls and challenges that arise when buying a dental practice.

The best part about working with a Next Level Consultants buyer representative is that we can save you thousands of dollars. We provide a fully comprehensive practice valuation and a deep dive into practice location and competition analysis. We help you secure the best lending options and provide a transition blueprint and personal counsel during the entire due diligence process. We can even help you understand and negotiate LOI and Leasing terms and agreements, saving you time and money along the way.

The advantage you have working with a Next Level Consultants buyer representative is just having someone who is looking out for you. Someone who has no vested interest in the transaction and is looking at the deal from the perspective of, “Will this doctor be profitable and successful for years to come?” after buying this dental practice.

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How to Buy A Dental Practice

Buying a dental practice is a multifaceted process that requires careful planning and evaluation. It begins with defining your goals and a sound budget. Then, begin researching the market to find a suitable practice in a promising location. The key steps toward buying a dental practice include assessing the practice’s financial health, patient base, equipment, and office condition, then negotiating a fair price based on a professional valuation. After that, you must secure your financing. Once you’ve committed to a practice conduct a thorough due diligence process on that practice to ensure it’s a sound investment. With the right dental consultant or buyer’s representative and a strategic approach acquiring a dental practice can be one of the most rewarding career moves a dentist makes.

Step #1. Location Strategy

Demographic Study & Analysis

  • Determine the competitive landscape
  • Identify the community and culture you want to be involved
  • What socio-economic conditions?

Personal & Lifestyle

  • Are there any non-compete restrictions
  • Determine your commute time
  • Family and personal “feel” or interest in a particular area

Practice Search

  • Online Broker Listings
  • Targeted Letters to Specific Doctors
  • Industry Networking

Step #2. Practice Located

Evaluate Prospectus

  • Review Purchase Price
  • Determine Cash Flow
  • Clinical Comparison

Step #3. The Offer

Submit a Letter of Intent

  • Offer a Price
  • Structure the Deal
  • Determine Due Diligence Period
  • Outline General Lease Terms
  • Propose a Close Date
  • Earnest Money

Step #4. Due Diligence

Discover Any Pitfalls or Setbacks

Deep Dive Into Financials

Insurance Contracts Analysis

Learn Patient Demographics

Review Current Lease

Clinical Chart Audits

Evaluate Equipment

Opportunity Assessment

Step #5. Deploy Your Team

Secure Lending with Bank

Engage Legal Counsel

Credentialing Specialist

HR Advisor

Marketing Specialist

Step #6. The Closing

Sign Agreement

  • Lease
  • Purchase & Sale

Employee Retention Strategy

Update Business Plan

License

Entity Filing

Hire Escrow

Secure Business Insurance

Launch Marketing Efforts

Write an Intro Letter to Patients

Fire or Hire Employees

Buying a Dental Practice

Hiring a dental consultant can be a game-changer when navigating the complex process of acquiring a dental practice. With our expertise, you’ll gain invaluable insights into practice valuation, financial analysis, and market trends.

Having a buyer’s rep consultant at your side streamlines the journey, relieving stress and allowing you to feel confident in your decisions—from identifying the right opportunity to ensuring profitability, minimizing risks and maximizing your potential as a new business owner.

Don’t leave your future to chance. By partnering with Next Level Consultants, you can rest easy knowing you have an experienced advocate on your team. The team can even support you as you transition into ownership. We offer a variety of practice management services to support new owners as they enter this new frontier.

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A Dental Practice Transition

After the close and the practice is yours, now what? Luckily when you partner with Next Level Consultants we have your back. Our team of specialized coaches can make your transition seamless. Because we also have a full and comprehensive practice management consulting service, our team members can navigate the transition process with ease.

When you work with our buyer representatives you also get a team of practice management consultants that cover Credentialing, HR, Marketing, Billing, Accounts Receivable, and more…

Transitioning into practice ownership is one of the most exciting and daunting things a doctor can do. Day one everyone is looking at you wondering what you're going to do and if you can actually do it! But don’t worry our program helps make this transition process as smooth as possible. 

Reach out to learn more about buying a dental practice and working with a buyer representative from Next Level Consultants.

Daniel Sitton

I've been listening to the Next Level podcast for years, so when I decided to buy a practice on my own, I thought I could handle it myself. That changed quickly after reaching out to a broker and realizing I was way out of my depth. I called Michael, signed up for their buyer’s rep service, and from that moment, I knew I was in good hands.

Michael, Paula, and their team were incredible. They had all the right connections in Phoenix, knew exactly what to say and do at every step, and provided guidance that was essential to closing on this practice. I genuinely couldn’t have done it without them. Their expertise and support made all the difference, and I’m incredibly grateful for their help. Worth every bit of the investment!

Corina Marcus DDS

When it comes to the intricate process of transitioning into a new dental practice, NextLevel Consultants proved to be an invaluable partner. Michael Dinsio's in-depth knowledge and attention to detail ensured that the purchasing process was very smooth and hiccup-free. Moreover, Stafani and Hilary's support during the credentialing phase was exemplary. Their whole team took the time to understand our unique needs and ensured that all aspects of the transition were well taken care of. It's rare to find a company that not only excels in their area of expertise but also genuinely cares about their client's success. We are tremendously grateful for their support and would recommend Michael and the NextLevel team to any dental professional seeking guidance in practice transitions.

Nicholas Conley

Designation

Michael Dinsio at Next Level Consultants was outstanding! His knowledge and expertise in dental practice acquisition were exactly what I needed. He guided me through a drawn out year long process without losing interest or sacrificing time and effort. He is a superb communicator and addresses issues head-on. I would not be in the position I am in today without his help. It was exceedingly clear to me that Michael had my best interests in mind as we navigated the practice buy-in ups and downs. Thank you Michael and everyone at Next Level Consultants for your services.