Dental Practice Purchases and Sales
Friday, May 5, 2017
2:00 pm - 3:00 pm
Speaker: Samuel Klewans, AB, JD
The session will explore in depth (i) what is a dental transition; (ii) how a seller should prepare to sell his/her practice whether to an associate, another owner or a third party; (iii) how an associate another owner or a third party should prepare to purchase a practice or a part of it; (iv) to broker or not to broker; (v) setting the price--is it better to purchase an existing practice or do a start-up; (vi) the constituent parts of the purchase and sale and what they mean; (vii) potential pitfalls in the process, such as how long do I, as a purchaser, let the seller work for me post-closing and the seller's dental staff; (viii) who is and who is not "your friend" in the process; (ix) financing the acquisition; (x) review of the documents necessary to accomplish the transition, what they mean and why they are needed; (xi) the closing process and, (xii) the role of the attorney, CPA, broker and banker.
- Learn how and when to prepare to purchase or sell a dental practice
- Become educated about the process of purchasing and selling dental practices so that (I) "surprises" are eliminated; and, (ii) there is a familiarity with the "big picture"
- Know what advisors are needed to help in the process and the role of each advisor
- Gain a familiarity with the various documents necessary to accomplish the purchase and sale of the dental practice and what to look for in each document
- What to do and how to deal with the seller's staff both from the standpoint of the purchaser and seller