The Practice Purchased Podcast
s1e1 - The 5 Things You Need to Purchase a Dental Practice

s1e1 - The 5 Things You Need to Purchase a Dental Practice

October 30, 2019

In this episode, I dive right into the 5 things you need to have if you want to purchase a dental practice. And while I'm not going to sugar coat things (item #1 is the toughest one: cash) I'm also going to show you that these 5 things are well within your reach.

See more episodes, full show notes, blog posts, and more at brianhanks.com.

s1e2 - What to Do About Student Loans NOW

s1e2 - What to Do About Student Loans NOW

October 30, 2019

"I can't buy a practice, I need to pay off my massive loan first!" This is the first thing many people bring up when I speak to them about practice ownership. And I get it! If your loan is anything like the national average for new dentists, then it's certainly nothing to sneeze at. But not only is ownership still possible, even with a hefty loan over your head, it's also the best thing you can do to get out from under that student loan debt. Don't believe me? Listen in and I'll explain.

See more episodes, full show notes, blog posts, and more at brianhanks.com.

s1e3 - How to Use Brokers to Find a Practice

s1e3 - How to Use Brokers to Find a Practice

October 30, 2019

Fun fact: Brokers don't want to talk to you. Harsh? Yes, but true! But there's more to the story than just that. In this episode, I'll talk about how to think about your relationship with a broker: how to contact them, what they want from you, and how best to use them.

See more episodes, full show notes, blog posts, and more at brianhanks.com.

s1e4 - The Absolute Best Way to Find a Dental Practice For Sale

s1e4 - The Absolute Best Way to Find a Dental Practice For Sale

November 12, 2019
Previously, we talked about the most common way dentists try to find practices for sale (brokers) but it's NOT the best. If you spend 20% of your search time with brokers, this episode talks about exactly where you should spend the other 80% of your time - other dentists. The best practices are often off-market. And the only way to find those good practices for sale is to have a robust network of other dentists who know, and like you. And...who know you're looking for a practice to buy. 
 
This could be the most valuable podcast in the whole season. Which also means it's the hardest and most likely to be ignored. If you do what I recommend in this episode, everything else about the practice purchase process will be easier.
 
See more episodes, full show notes, blog posts, and more at brianhanks.com.
s1e5 - How to Choose an Accountant to Help Buy a Practice

s1e5 - How to Choose an Accountant to Help Buy a Practice

November 19, 2019

Choosing an accountant is one of two essential people to help get you into the right dental practice. But how do you know who to choose? How much are you going to pay them? What do they DO anyway?

The best dental accountants out there are focused on transitions like yours. They have a process that matches the needs you have at this critical time in your career. They'll help you make sense of the financial side of the deal, and provide key coaching and insight on the numbers of a practice you're considering buying.

Listen to this episode to learn what to ask and what to expect!

See more episodes, full show notes, blog posts, and more at brianhanks.com

s1e6 - How to Choose an Attorney to Help Buy a Practice

s1e6 - How to Choose an Attorney to Help Buy a Practice

November 27, 2019

The attorney is the second crucial team member that is a MUST to hire to buy a dental practice. Do you know what to expect from a good dental attorney? Do you know the best way to tell a good one from a bad one? Want to know how much you're going to pay? 

A good attorney will perform three crucial tasks. Additionally, the best attorneys will act as a buffer to make sure your interests are aggressively protected while you preserve a great relationship with the seller. Listen to this episode to learn all the crucial details.
See more episodes, full show notes, blog posts, and more at brianhanks.com  
s1e7 - How to Analyze a Practice For Sale: The Numbers

s1e7 - How to Analyze a Practice For Sale: The Numbers

November 27, 2019

You don't need to become an accounting and tax return expert to understand the basics of analyzing the numbers of a practice. When you ask for "financials", do you know what you'll get? Besides the financial side, do you know what other reports to request and what to look for?

In this episode, I'll discuss the most crucial numbers to review and how to rank them in order of importance. 
See more episodes, full show notes, blog posts, and more at brianhanks.com  
s1e8 - How to Analyze a Practice For Sale: The Qualitative Aspects

s1e8 - How to Analyze a Practice For Sale: The Qualitative Aspects

November 27, 2019

There's more to a practice than the numbers. Analyzing the qualitative aspects of the dental practice you're considering buying is harder to fit in a spreadsheet, but arguably more important. 

Listen to this episode to learn the most important aspects to analyze when buying your dental practice. 
See more episodes, full show notes, blog posts, and more at brianhanks.com  
s1e9 - How to Value a Practice (and know if you’re being overcharged)

s1e9 - How to Value a Practice (and know if you’re being overcharged)

December 2, 2019

If you've decided a dental practice for sale is a good one to buy, how do you know how much its really worth? How will you assess a seller's or broker's price for a practice to know if it's fair or if you're getting ripped off?

There's a secret to how valuations really work. Listen to this episode to learn the tips and tricks only the pros understand about dental practice valuations. 
See more episodes, full show notes, blog posts, and more at brianhanks.com
s1e10 - How To Calculate How Much Money You’ll Make As An Owner

s1e10 - How To Calculate How Much Money You’ll Make As An Owner

December 2, 2019

How much money are you going to make if you buy the dental practice you're considering? There's a way to calculate that number. You'll need to know how to calculate patient attrition and understand which expenses are likely to go up and which expenses will go down with you as the new owner. 

Listen to this episode to learn how to calculate your cash flow to know how much you'll be able to pay yourself, and how soon you'll be able to achieve your financial goals...and get those student loans paid off!
See more episodes, full show notes, blog posts, and more at brianhanks.com.

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