The Art of Dental Finance and Management

How to Develop an Exit and Transition Plan for Your Dental Practice

October 14, 2020 | Podcast

Dentists, like any other business owner, should strategically plan for exit well in advance of their anticipated practice sale date. Following the steps outlined by our podcast guest and business transition coach, Larry O’Toole, will help accomplish an optimal outcome when you’re ready to sell your dental practice. Preparing your practice exit and transition plan now will assure that you provide tremendous value for the buyer, command greater profit for yourself, as well as ensuring a “euphoric” experience throughout the transition process.

In this episode of The Art of Dental Finance and Management podcast, Art and Larry discuss how dentists can build greater long-term value for their practice and remove some of the uncertainty when planning for its transition, whenever that day may be. It’s better to be in a strong negotiating position when preparing your dental practice for a sale, and Larry outlines some key takeaways from following his recommended five-step campaign approach:

  • Building business wealth
  • Fostering the right mindset
  • Developing a dental practice that makes it attractive to buyers
  • Generating long-term value

 

Reach out to Art if you have any questions regarding transitioning your dental practice. More information about the Eide Bailly dental team can be found at www.eidebailly.com/dentist.

Maximize your practice growth and prevent future loss with the support of our team of dental industry professionals.

Larry O'Toole
Larry O'Toole
Yosemite Associates
www.yosemiteassociates.com
larry.otoole@yosemiteassociates.com
940.874.0787

 

Show Notes and Resources


Stay informed!

Enter your email address below for access to weekly episodes.


Learn More

See what more we can bring to organizations just like yours.

Dental Consulting Healthcare

Latest Episodes

January 13, 2021
Podcast

A new round of PPP loans are now available for dentists. Hear everything you need to know about these loans and the new stimulus package in this episode of the Art of Dental Management.

January 6, 2021
Podcast

Teledentistry can help dentists add polish to their practice. Our recent podcast episode dives into the additional consultation options and benefits that teledentistry can provide.

December 29, 2020
Podcast

Congress has recently passed new COVID relief legislation that includes an additional round of forgivable PPP loans. We take an in-depth look at how dentists can obtain a new PPP loan in The Art of Dental Finance and Management podcast.

December 16, 2020
Podcast

A potential second round of PPP loan funding is on the horizon, with $300 billion for small businesses who have suffered income loss. This episode takes a close look at this pending legislation, as well as what year-end planning you should be doing.

December 9, 2020
Podcast

Art visits with experienced commercial real estate agent Brian Mills of ROAM Commercial Realty to talk about the different aspects and considerations of commercial leases as all as the advantages of owning your own building.

December 2, 2020
Podcast

This week, Art brings on James Davenport, MBA, Managing Director of Beacon Pointe Wealth Advisors, to discuss investment strategies for 2021 as well as for different stages in your life.