I want to sell my practice, but want to keep working. Can I do this with Pinnacle Dental Partners?
Absolutely. This is usually the most ideal situation for both the dentist and us. You get to continue providing great dentistry to your patients, while we take on the daily headaches that come with owning and running a business.
A company offered me a lot of money for my practice. Shouldn’t I just take the highest offer?
Not necessarily. Many DSO’s are commodity-driven, meaning their primary goal is to extract as much money and profit out of a dental office as possible, and sometimes this clouds good clinical and patient-focused decisions. Think to yourself: how is this DSO able to offer me so much money for my practice? The answer is that often the new owner will push and push the practice harder and harder to deliver more and more profits. However, inevitably, the dentist and staff become disgruntled, and morale and dedication decline. Patients will then start complaining and leaving and start a snowball effect of a practice in major decline. Remember, don’t just sell to the highest bidder, sell to the right bidder.
If I choose to continue working after the sell, how much will I be compensated?
Compensation is completely negotiable; we tailor each deal to a mutually agreeable compensation package that fairly compensates the doctor.
What makes Pinnacle Dental partners different?
PDP values great dentistry over the bottom line. We want to buy practices focused on the best dentistry, who want to see the legacy of the practice continue for decades to come. We don’t intend on buying practices to hold for a couple of years, then sell them to the highest bidder. We’re in it for the long-haul of your practice, to keep its legacy thriving.
How long does the selling process take?
Typical closing times on the purchase of a dental practice is 90 to 120 days. Of course, this is highly dependent upon the amount of negotiation that takes place, as well as a myriad of other factors that may be completely out of our or your control.
Do I need to have a practice sales broker?
No. If you involve a sales agent, that is commission money right out of your pocket. By foregoing a sales agency, you keep more of the profits from the sale of the practice.
I own the building my dental practice is located in. Do you buy the real estate as well?
This is highly dependent upon the selling doctor’s wishes and is a negotiable portion of the sales process. If we do not purchase the real estate, we would normally lease the building from you for an agreed upon rate.
How do I know that my staff and my patients will be taken care of after the sale?
As stated above, what differentiates Pinnacle Dental Partners from other dental practice buyers is that we intend to buy practices and retain them long term. We do not purchase a practice with the intention to just build up the practice’s revenues for a few years, then sell it to the highest bidder. If we didn’t treat both your patients and your staff well, we would be shooting ourselves in the foot. If you have staff members that have helped your practice thrive, then we would normally want them to help us thrive as well. Our plan is to continue the legacy of great dentistry and patient care that your practice already upholds.
Do you keep the same practice name after the sell?
Possibly. This is dependent upon a variety of factors. Obviously, if your practice is named after you, and you leave and don’t continue working for the practice, then we would change the name. On the contrary, if you continue working, and the name of the practice has worked and been in the community for many years, then a name change may not be necessary.
I’m not sure if I’m ready to sell. What should I do?
Just give us a call. We can discuss the options and figure out a plan that works best for you, your practice, and your future plans. Remember, we’re here to partner with you, and will assist in any way that we can.