Starting up a new dental practice is an extremely risky venture as a result of increased competition and an unpredictable economy. A dentist would be wise to consider purchasing an existing dental practice instead of starting a new one from scratch.
I met a recent dental school graduate looking for a practice to buy. He was married and had one child and a second on the way. He was trying to decide what area he was interested in purchasing a practice and he felt compelled to explain to me that “the money was just not that important.”
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The most widely used method for determining practice value is fair market value. The commonly accepted definition of fair market value is the price which a professional practice would produce, allowing reasonable time to find a purchaser, with both buyer and seller having access to full disclosure of information about each other.
Office rent should be in the area of 4% of gross practice gross revenues...
There are many different reasons for what seems like a perfect transaction to go bad.
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