The Practice Purchased Podcast

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Listen to this episode to learn what legal documents you can expect to see and what they mean when buying a dental practice. Learn what to watch for, who will negotiate on your behalf and how to read the key documents that will transfer ownership of a successful dental practice into your hands. 

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Deciding between two bank loans when buying a dental practice can difficult, but only if you don't know exactly what matters and what doesn't. 

Listen to this episode to learn what really matters, and what you can ignore when negotiating with the banks to ensure you choose the best dental loan.

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One of the scariest parts of buying a dental practice is getting a practice loan. Make the best of the necessity of going into debt and learn how to get the very BEST dental loan to buy your dental practice. 

There is a right way to approach banks. You need to know which banks to approach, how many to approach and how to negotiate to ensure you get the best rate and terms. Listen to this episode to learn how.

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The best buyers know that submitting a successful letter of intent when buying a dental practice involves as much psychology as it does numbers. 

Listen to this episode to learn three tricks that take advantage of simple psychology to maximize the chances that your LOI is the one accepted buy a seller. 

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When you submit your letter of intent on a dental practice there's more included than just the price. The best buyers know the right areas to include and negotiate, and how to setup the LOI perfectly to allow both sides to win in the right way. 

Listen to this episode to also learn two common pitfalls that trip up the average buyer, and exactly how to avoid them. 

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How do you know when the right time is to submit an LOI? How important is it to get right if it's non-binding? 

Learn a few common broker's tricks that take advantage of psychology and the average buyer's lack of knowledge to get you to pay just a liiiiiittle bit more for dental practices, and how to counteract them. 

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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!

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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.

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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. 

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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.