Are you planning to sell your practice soon and wondering what it will be worth? Dental lawyer Michael Carabash shares a number of macro and micro factors that contribute to your dental practice’s overall worth. Subscribe to Oral Health’s weekly e-newsletter to have the latest episode delivered straight to your inbox every week!
Looking to Sell? Need a Contrast?Put Down the Drill and Stash the Cash?Dash Down South ’n Make a Splash,Mash it Up and Have a BlastDoing Dental Outreach with Lee and Carabash?! Well, To Get There: You’ll Need a Plan.First Thing’s First: Your CorporationAnd Financial InformationWe’ll Need to Scan it to See if You CanAvoid Paying … Read more
Our limited time becomes increasingly apparent the further on we progress in our careers. Yet it can become an abstraction when a large offer to purchase your practice is being placed in front of you over the course of a compelling sales pitch that can sometimes be months or even years in the making. The … Read more
Commercial air travel is safer with every passing decade.1 Advancements in mechanical, operational, and technological design contribute to an ongoing trend in risk reduction of mortality in the airline industry. That risk is now approximately 1 in 8 million passengers.1 Regardless of how small a given risk, it behooves any industry to continually strive to … Read more
Your practice is your baby. Even if you purchased it from another dentist, you still put in the hard work to make it your own. You’ve toiled, fretted and challenged yourself to reach new heights. And now it’s nearing the time to move on. When the time comes for selling, it is critical that realistic … Read more
Selling your dental practice now or in the next 5 years? Get yourself checked now – legally that is. Otherwise, it could cost you hundreds of thousands of dollars, plus delays and aggravation when you do go to sell. Let’s start your self-check: grab the following: Your professional corporation’s (“PC”) minute book (that’s the big … Read more
TIP #1: Prepare Years in Advance Begin planning 2 to 5 years before contemplating selling. Why? Because it can take up to 2 years to put your team members on contract. It can also take 2 or more years to set up or clean up your professional corporation in anticipation of a sale (if you’re … Read more
Dental practice values are back up. Everyone’s hounding you to sell. Maybe you’re tired of the daily grind of running a dental practice – especially during COVID-19. You find yourself drifting off. You’re on a pristine beach, at your cottage or on a golf course. You see yourself spending more time with family and friends, … Read more
It goes without saying that the COVID-19 pandemic has been an unexpected and unprecedented period in Canada and beyond. And while you might think that would hinder dental professionals from buying or selling a practice, think again. Over the last few years, the healthcare industry has undergone an unrivaled rate of change but particularly during … Read more
As a profession, we are currently in a fortunate position. Our practices provide us the ability to live a comfortable life, maximize our value when it’s time to sell, and leave a professional legacy in the communities in which we serve. Strong practice values continue to be supported, even in today’s challenging climate with goodwill … Read more
For the last few years, it’s been a seller’s market when it comes to dental practice sales, due to too many buyers, not enough sellers, low interest rates, 100% bank financing and dental service organizations scooping up practices. These conditions have triggered bidding wars for certain highly sought-after practices. For example: In 2016, the best … Read more
An important consideration during the sale of a practice is the amount of taxes arising from realizing a capital gain – the underlying asset primarily being the patient list, i.e., goodwill. While the seller can avail of the lifetime capital gain exemptions as a reduction to the capital gain tax, there are opportunities for a … Read more