There is an old Chinese proverb, "May you live in interesting times." Well, reading the news tells you that things can not get more interesting than this, and current headlines can create excitement for sure. However, when people become uncertain they often perceive a need for change, and with change come opportunities for those with vision. Let’s review some of the current opportunities that are available to many dentists today.
Dental practice values are at an all-time high and taxes on the sale of a practice are at an all time low! It's a great sell high, especially when you view the steady growth of DSO's and other commercial encroachments being made in the dental marketplace. This is an incredible time to sell your practice for its greatest value, and use the sale proceeds to fund your retirement plan, making your financial future much more secure. Practices today are selling for 75% to 150% of gross revenues provided the sale is handled properly. Don't settle for less because some broker may lack the understanding and tools needed to get the most money out of the sale of your practice. AFTCO has the tools and the know-how to get you your maximum value out of your practice.
If retirement is not your more immediate concern, but your practice has slowed down, then this is the time to consider buying and merging a nearby practice into your existing practice (or purchase a satellite office and use your existing staff to run both offices). There are marginally profitable practices nearby whose owners need to sell and work for the purchaser.
Add more patients and production days to your current office by completing a practice merger where both doctors can enjoy more income and work fewer hours each week. Dental practices need to be merged to maintain a production level that increases overall practice profitability. Dentists need to understand that solo practice is no longer the best option for most practices. If you are marginally busy, you are marginally profitable. Increased productivity and economy of scale resulting from a practice merger (and/or acquiring a satellite office) is the best long-term financial solution for most dentists, both buyers, and sellers.
Yes, these are exciting times and opportunities are waiting for those doctors who are willing to do what is necessary to secure their economic future. Call AFTCO today at 800-232-3826 or visit our website at www.aftco.net for more information. It's time to call AFTCO and talk about securing your financial future.