Are you a dentist looking to buy a dental practice? Dental practice brokers are individuals who specialize in the acquisition and sale of dental practices. The video explains how to find a dental practice.
A common requirement by buyers is that they want a successful dental practice in an area they want to live in. There are two ways of finding a good dental practice as explained by the 80/20 rule.
One is finding an ‘on-market’ practice that is listed for sale via a broker. The other is an off-market practice. This means the person hasn’t hired a broker or hasn’t listed the practice for sale.
The 80/20 rule states that you spend 20% of your search time on the ‘on-market’ search. This involves engaging with brokers and searching on social media. The other 80% of your time should be spent looking for off-market practices by approaching dentists directly.
A seller may not engage a personal broker to save money, so there may be some great practices for sale ‘off-market’. However, it’s easier to look for a dental practice via a broker.
Looking into off-market practices allows you to create personal connections by reaching out directly to older dentists.
To purchase a dental practice, consult dental practice brokers, or make a list of practices in the market and reach out to them directly.
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