Seasoned Professionals Make
all the Difference
EMA Dental Practice Sales
Some years ago now our youngest son Chris was working towards an undergraduate degree in business at UMKC. As an exercise for one of his marketing classes, they were to create a business plan and website for a hypothetical venture. He chose askchris.com. The premise was that if you were agonizing over some decision and [...]
* This article was first printed in the April 2012 issue of the Midwestern Dentist, the publication of the Greater Kansas City Dental Society. I have edited it a bit for this column but the results are the same. One of the most frequent calls we get at EMA is for the magic number of [...]
A couple of recent articles coming across my desk might suggest that the long awaited loosening of the dental practice sales market may be starting. There is no doubt that doctors have hung on longer than their original plans and that consequently the number of practice opportunities has not been equal to the number of [...]
Being a 61 year old guy in a world full of other 61 year old guys, this is probably not the first time this situation has come up. As our parents age and they are no longer able to care for themselves, children are frequently placed in the position of having to deal with their [...]
Those docs who have put off retirement awaiting an upturn in the economy might want to seek out an NBC news article written last week after the Federal Reserve Meeting by John W. Schoen entitled; Economy may be permanently stuck in slow-growth mode. In this article he quotes a number of players with regard to [...]
Probably nothing in this business gets my heart racing more than to have a prospective buyer say to me during the showing of a client practice that – You will NEVER get that price for this practice. It is amusing to me on one level because the speaker has never appraised or even owned a [...]
I know that sounds like the opening line of a Boys Life joke but it is the thought that comes to mind whenever I take on a large project. As many of you know, I enjoy restoring old cars. I am reluctant to call them “Antique” or “Classic” cars as it seems a little pretentious [...]
DISCLAIMER: This is not an entirely objective article as the subject matter has affected my time, our company’s clients and our revenues. I am not a licensed dentist in the state of Kansas (although I do have a current Missouri license) and have never practiced or owned a practice in the state of Kansas. I [...]
Surprisingly, one of the stats least considered by many looking to acquire a practice is whether or not they can make a living in that practice. Unlike real estate where the three most important factors in the desirability of the property are location, location and location, evaluating cash flow should be the first order of [...]
A couple of recent meetings with prospective clients raised an issue that I believe needs to be addressed immediately. Both mentioned early in our conversations that they knew “this was not a good time to put their practice on the market.” At first blush I agreed with them. The time between Thanksgiving and the first [...]