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How to Build Value Within Your Dental Practice and Sell It - Avi Weisfogel
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In today's episode of The Entrepreneurial Dentist, Avi Weisfogel discusses how to build a dental practice so that you can sell it for maximum value. Listen to the podcast or watch the video podcast on Vimeo
Read the Transcript of the Podcast Below
Avi Weisfogel, The Entrepreneurial Dentist coming to you guys with the tips for today, which is really looking at the value of your practice. What the practice value is, and listen, what did, what do you get when you sell your practice? You know, part of my mission is always to make it so when a dentist goes to sell his life's work, he gets the max for it.
Even then, it's not the prettiest thing. The trajectory path of most dentists is build your practice, keep your practice way past the point of its highest peak, and then sell it. As we know, dental practice itself are typically around 70 cents on the dollar. What I mean by that is there's this formula and this formula was just put out by someone and it's accepted.
70% of like the three year average growth seems to be a number that practices go for. Now. Of course, there are times where it goes for a little higher. There's times where it may go for lower. Let's talk about a time it may go for higher. DSO is are coming in with all sorts of offers and you feel like you've just hit the jackpot.
Really the answer is you need something that can scale something that grows without you. There are, the industry is not that. If you're going to just do dentistry as your career. You have to get a handle on overhead. You can't keep buying equipment. You have to be able to look at ideas that are gonna allow you to grow.
Otherwise, honestly, your head for a lifetime of stress. A lifetime of figuring out where and how you're going to pay the bills, a lifetime of borrowing money to pay the bill. It's absolutely the worst case scenario because what's going to happen three to six months after you borrowed that money is now you're going to have to still pay the same bills that got you in over your head only now you have another loan on top of it.
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You also might like to listen to Taking Your Dental Business To The Next Level
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