Oklahoma dental practice purchase
Are you located in Oklahoma? Are you looking to purchase a dental practice? Will you be starting an Oklahoma dental practice purchase? Do you need help with your Oklahoma dental practice purchase? Do you need help with your dental practice purchase? Will you be starting A dental practice purchase?
What is an Oklahoma dental practice purchase
Many times someone who is looking to start their Oklahoma dental practice purchase is someone who is getting ready to graduate, or has graduated and has been working as an associate and a dental practice for a certain amount of time. For those who are getting ready to graduate, you’re probably considering your professional options moving forward, which may include buying a medical or dental practice. Many new graduates decide to work as associates to start paying off their student loans. After all your work going through college, you’re ready to run your own practice, but you may be unsure whether or not you could afford it. The key is to find a practice that meets your needs professionally and financially. An Oklahoma dental practice purchase advisor can help you find a practice in Oklahoma and start your career.
Student loans in Oklahoma dental practice purchase
Mini may think that your student loans disqualify you from buying a practice, but the truth is banks are actually leading to new graduates. The most important step to ensuring your eligibility for a loan after graduation is to minimize the dead you accumulate while still in school. Do your best to live within your means and avoid taking on any new loans when possible. After you graduate, the next step is to find a practice that will allow you to succeed. Some senior officers that have been declining in numbers for several years are not going to fit your financial needs for an Oklahoma dental practice purchase. You will want to look for an office that is still at its peak and then work with an advisor to analyze the numbers. The goal is to find a practice of that suits your personal preferences, plus will allow you to pay off your debt in a reasonable time frame. And Oklahoma dental practice purchase advisor can help you there.
Critical patient and practice characteristics for Oklahoma dental practice purchase
Here are a few things to think about when starting your Oklahoma dental practice purchase:
- Number of active patients. Determine the number of patients that have had appointments in the last 12 to 18 months before purchasing a practice.
- Number of insurance patients. Determine the number of patients who participate in the insurance plans of the practice.
- Patient demographics. Most dental software packages can provide a number of patients in each age group and ZIP Code area. It’s important to know who Will be using your dental practice.
- Number of new patients. This will give you the buyer of you at the new patient flow into the practice.
- Hygiene. Request the number of hygiene appointment each month and the average monthly revenue generated by hygiene.
- Dr. and hygiene schedules. Request a copy of the schedule for several weeks.
- Fee schedule. Review the fee schedule analyze the fees relative to the industry, competition and insurance reimbursement.
- Insurance adjustments. A buyer will want to see how much of the normal procedure fees are being adjusted for insurance reimbursement.
- Office hours/days worked. Review the current hours of operation and the number of days worked by the current/previous owner.
- Reason for sale. It is important to know why the practice is being sold. Reasons may include retirement, relocation, sale of second location, financial distress, dental licensing problems of the seller, illness/disability, or death of the owner.
Buying existing versus starting your own Oklahoma dental practice purchase
Every dentist faces a similar question when they start hunting for their first practice, should you buy a retiring dentist business or build your own from the ground up. Dentist who decide to buy benefit from the existing experience from the previous owner. The previous dentist will already have systems in place, including staff with clear responsibilities as well as an established and billing and payroll system. Another benefit to buying an existing business is the ability to review a profit and loss sheet to help inform the decision to purchase that particular practice. When the practices already profitable, it is easier to plan and expansion and qualify for a loan sent you can show income and profit from the past. Finally, if you buy an existing dental business there is likely an existing client base that is connected and loyal to that dental practice office. Although, starting a practice can offer a bigger risk, there are plenty of benefits that come with starting a practice from scratch. When you are the owner, every major decision will be yours to make. Well that can be overwhelming, it also gives you the opportunity to shape the practice into exactly what you were looking for. As the owner of the business, you can also make business decisions based on your vision rather than being limited by someone else’s. Additionally, building your own practice is a unique opportunity to build and show off for business skills. As an entrepreneur, you can see a greater profit from the future sale of your practice rather than purchasing one from another.
Jaquay Enterprise Oklahoma dental practice purchase
Jaquay Enterprise has 17 plus years of work experience in the Oklahoma dental practice purchase world that they can use to provide you with everything you need for your Oklahoma dental practice purchase. They are fully committed to the success of all of their clients. Whenever a practice changes hands, Jaquay helps both the buyer and seller facilitate a smooth transition and off for expert consulting services to help clients throughout Oklahoma achieve their goals. At the heart of Jaquay enterprise is Tabatha Jaquay-Fernandez, and expert transition advisor with years of experience.
For more information on your go to Oklahoma dental practice purchase experts, contact Jaquay enterprise here.