Are you a dentist? Do you practice in the dentist field? Are you looking for help on buying and selling a dental practice? Are you looking for help about dental transitions? Have you started dental transitions? Do you need advice on dental transitions? Do you need an advisor on gentle transitions?
What is dental transitions
Gentle transitions are defined as the comprehensive and systematic process of incorporating another provider into your practice with the mutual intent of being to eventually either share or transfer ownership of the practice at an agreed-upon. In the future. Unlike a straight sale, a dental transitions may be executed as either a practice growth strategy or an eventual ownership exit strategy. In fact, it is often for an evolutionary combination of both scenarios to happen. The most important distinction between an immediate sale of a practice and a dental transitions of the practice is that the former is a transaction driven dynamic while the latter is a relationship driven dynamic. Transitions are relationship driven due to both the owner doctor and the associate who intends to transition to ownership of the practice either through a partnership or ventral buy out, will be working together. Typically for several years or more but could be less depending on the dental transitions agreement.
Dental transitions mindset
Typically, independent dentist usually has one of two mindset and considering an exit strategy for their dental practice. One of those being a planned strategy that will reap great award, while the other is not planned and typically reaps nothing. Dentist the plan properly and choose to have an exit strategy in place will typically find financial gain and peace when it comes to leaving their chair. Their choices allow for merging with a dentist or several dentists were waiting to sell the practice and it’s entirely. Having a plan or not having a plan both works, but having a plan allows for a peaceful and smooth dental transitions. The mindset of not planning to bring stress and potentially no financial reward.
First step of dental transitions
The first step to any dental transitions is to have an exit strategy planned. Having said plan before you begin your dental transitions is extremely important. Typically, not in planning an exit strategy for your gentle transitions often leaves your practice with a little if any Resale value once you decide to leave. Meaning, most dentists in the situation choose to phase out their practice by gradually reducing the number of days they see patients until there truly is nothing remaining to sell or merge and their dental transitions. Do not be this kind of dentist.
Dental transitions firm
Finding the right professional dental transitions firm that specializes in dental mergers, selling, buying, providing an appraisal, and negotiating the best terms and conditions is the best start a dentist can do for themselves. Attorneys and accountants know how to crunch the numbers and create documents, but they do not necessarily understand how to operate a dental practice. Especially during a merger, appraisal, transition or sales phase A professional dental transitions firm will come and great handy.
Market value for dental transitions
If planned properly, virtually every dental transitions has a value and can be sold to another dental party. A dental transitions firm can assist any dentist to receive market value for their respective practice by completing a functional transition, appraisal, merger or sale of a dental practice. They can determine the market value for your dental practice during the evaluation process. Typically, they identify various improvements that could be made to your dental practice which would make it more efficient and more valuable. Helping when it comes to buying and selling a dental practice. However, in some occasions, dental transitions firms have been in several potential mergers or selling of a dental practice in which they essentially fixed the practice to a point that the dentist decided to remain content and not merge or sell at that particular time.
Who are Dental transitions for
Dental transitions practice appraisals, mergers, transitions and sales are not just for retiring dentist. It could be that the dentist desires to continue their practice but in another part of the country, overseas, or even take time away to do other work. The dental transitions, appraisals, and mergers and sales process is much the same, whatever the reason. Let A gentle transitions firm discuss with you all the options for engaging to represent you and your dental transitions. The process always begins with the practice evaluation or market value appraisal. They, along with you, I want to know what the dental practice is worth and what can be easily done to make the practice better during the dental transitions, merger, appraisal, or sale. Such like a realtor would tell you to Declutter a Home or paint a room, they tend to encourage you to what needs to be done in order to increase attraction or cyst the best potential buyer for your dental transitions.
Jaquay Enterprise Dental Transitions
For years, Tabitha Jaquay-Fernandez has worked as a Practice Transition Advisor. Analyzing your systems, providing direction to reduce expenses, looking at ways to work smarter not harder while producing and collecting more and increasing new revenue flow. Her passion to help clients reach and exceed their goals drives her motivation.
When a client is ready to sell his or her practice, Tabitha spends time getting to know the seller and what’s important to them. After determining the fair market value of the practice, it’s time to find the “right” buyer. Incorporating the critical details of personality styles, professional ability, financial vetting and looking at the best fit for the seller’s clientele base and team to insure a successful transition, are just a few steps to finding the “right” buyer. Having analyzed hundreds of practices across the country provides Tabitha a unique perspective in the transition business. And with her focus only in Oklahoma, she is able to dedicate more time and attention to her sellers and buyers.
Regardless of how long you have been in practice, Jaquay Enterprise can help you transition to the next chapter of your career!
For more information on your go to dental transitions company, contact Jaquay Enterprise here.