Author: EOSTriumphant - Page 3 - Triumphant Partners

Author: EOSTriumphant

How to Prepare & Maximize Your Med Spa for Future Resale

by EOSTriumphant

If you’re planning to sell your med spa, preparation is key. The medical spa industry is constantly evolving, and staying relevant in your market requires ongoing investment in your business. The right upgrades and improvements can significantly increase the price you can demand for your med spa at the time of sale. Conversely, neglecting certain elements can weaken your negotiating position.

The good news is that many of the steps to enhance your med spa’s value and maximize its resale potential are straightforward. Read on to learn how to prepare your med spa for sale and increase its future value!

Improve Equipment

High-quality medical equipment plays a crucial role in the value of any medical practice, including med spas. Adding a few strategic pieces of high-end equipment can dramatically boost your med spa’s worth.

Consider investing in:

  • Lasers
  • The latest esthetician equipment
  • Light therapy devices
  • Marketing systems and patient contact tools
  • Operational systems for procurement, HR, and IT

Upgrading your equipment does more than just add tangible assets to your books—it can also expand your service offerings, increasing cash flow and collections. Investing in the right tools to better serve your patient base is a smart way to enhance your med spa’s overall value.

Improve Retention and Grow Your Patient Base

A strong patient base is a key indicator of your med spa’s vitality. Potential buyers will want to see evidence of a healthy, growing clientele. Take the time to compile relevant data that demonstrates the popularity and stability of your med spa.

If you’re preparing for resale, growing your patient base should also be a priority. Strategies like increasing your marketing efforts or automating patient outreach can have a significant impact. Track and document any growth you achieve, as buyers will be interested in seeing trends in patient numbers over time. Even small, incremental growth percentages can lead to substantial improvements in profitability and cash flow. Highlighting this growth to potential buyers is an excellent way to strengthen your position during negotiations.

Improve Operational Efficiency

Even the best service offerings won’t compensate for operational inefficiencies. Outdated systems, cumbersome procurement processes, and high staff turnover can all undermine the value of your med spa.

Optimizing your business operations may take time, but it’s well worth the effort. Focus on:

  • Upskilling staff
  • Implementing modern systems
  • Reducing overhead costs

These improvements will enhance the operational health of your med spa, making it more appealing to buyers and increasing its resale value.

Understand Your Financials

Knowing your med spa’s financial value is a critical step in the sales process. Without a clear understanding of what your spa is worth, it’s impossible to evaluate offers, compare your spa to similar businesses in the market, or confidently negotiate terms.

An inaccurate valuation could result in leaving tens of thousands of dollars on the table by accepting a low-ball offer. Take the time to gather detailed financial data and seek professional guidance to ensure you’re fully informed.

Work with a Trusted Transition Partner

Selling a med spa is a complex process that requires expert support. Partnering with a qualified transition advisor can help you navigate potential pitfalls, accurately value your business, and sell on your terms.

At Triumphant Partners, we specialize in medical practice transitions and are dedicated to helping you achieve your goals. Our team works strategically to ensure that your med spa is sold at your desired price.

When you work with us, you gain:

  • Expert valuation of your med spa
  • Guidance on navigating the market
  • Support in screening and connecting with qualified buyers
  • A dedicated advocate to help you close the deal

Call Triumphant Partners today for your courtesy consultation and take the first step toward selling your med spa on your terms!

5 Signs You Need a Dental Broker

by EOSTriumphant

Why Consider Working With a Dental Practice Brokerage?

If you’re considering selling your dental practice, the process may seem overwhelming. You’re already struggling to maintain your practice and take care of your patients. Selling the practice on top of all of that might sound impossible. That’s why many dentists turn to a dental practice broker to help them through the sale and practice transition process. If the five situations listed below apply to you, it might be time to consider partnering with a dental practice broker to ensure your best interests are protected.

Introduction to Dental Practice Sales

Dental practice sales involve the transfer of ownership of a dental practice from one individual or entity to another. This process can be complex and requires expertise in areas such as dental practice appraisals, office sharing arrangements, and associate partnerships. Dental practice brokers, like TTP, specialize in facilitating the sale of dental practices and can provide guidance and support throughout the dental practice transition process. With their extensive knowledge and experience, dental brokers can help dentists navigate the process of buying or selling a dental practice, ensuring a smooth transition and maximizing the practice’s value.

Understanding Dental Practice Brokers

A dental broker is a professional who specializes in facilitating the buying and selling of dental practices. They provide expert guidance and support throughout the entire process, from the initial valuation to the final closing. They are always available to answer any questions and provide essential advice during the buying or selling process. With extensive knowledge of the dental industry and transactions related to dental practices, dental brokers are well-equipped to help dentists navigate the complex process of buying or selling a dental practice, ensuring a smooth transition.

Dental brokers often have a network of contacts and resources, including dental plans and insurance companies, to help facilitate the process. They can also assist in facilitating the addition of dental associates and partnerships. This network can be invaluable in finding the right buyers or sellers and ensuring that all aspects of the transaction are handled efficiently. Additionally, dental brokers can provide valuable advice on practice management and operations, helping dentists to optimize their business and make informed decisions.

By working with a knowledgeable dental broker, dentists can save time and reduce stress, allowing them to focus on their patients and practice. The expertise and support provided by a dental broker can make the entire process of selling or buying a dental practice much more manageable and successful.

Understanding the Process

The dental practice transition process typically begins with a valuation of the practice to determine its worth. This involves assessing the practice’s financial performance, patient base, and physical assets, such as equipment and property. Once a valuation is determined, the practice is listed for sale, and potential buyers are identified. Dental practice brokers play a crucial role in this process, as they have access to a network of buyers and can facilitate communication between parties. A successful transition requires careful planning, professionalism, and expertise, which is why many dentists turn to dental practice brokers for guidance. By working with a reputable dental broker, dentists can ensure that their practice is sold for a fair price and that the transition is completed efficiently.

You Don’t Know Your Dental Practice Value

Have you ever tried to sell something without an idea of what it’s worth? It can be a frustrating process. Valuing your dental practice accurately is crucial to ensure you receive a fair offer. Without a benchmark of what it’s worth and what others are selling for, it’s impossible to know if you’re receiving a fair offer or not. This doesn’t usually happen with simple transactions like groceries or reselling furniture. However, when it comes to a sale as complicated and multi-faceted as selling a dental practice, understanding the value of your dental practice is paramount. Undervaluing your practice by as little as 5% could be tens of thousands or hundreds of thousands of dollars lost. What’s more, if you don’t understand what your practice is worth, you could agree to a low-ball offer without understanding that you left a considerable amount of money on the table.

A good dental broker is a great way to prevent that from happening. A detailed practice evaluation is usually the first step in the services provided by any dental broker worth their salt. The dental broker will then sit down with you and review the findings of that valuation. What’s your EBITDA? Do you own your real estate? What are comparable practices in your region selling for? Without the right dental broker, you’re going to miss out on vital information that will help you through the sales process.

It’s important to remember that buyers will only represent their interests. They might make promises, offer exciting numbers, and say the right things when proposing or finalizing a deal, but they represent their own interests at the end of the day. Dental brokers represent your interests and fight to ensure you get the best terms and dollar value possible. Partnering with a dental broker can help you both understand what your practice is worth and how to get the best possible terms.

You Don’t Know The Industry

As a dentist, you know the dental industry forward and backward. However, the practice transitions industry is a slightly different beast. Dental transitions require careful planning and expertise to avoid common pitfalls and ensure a smooth process. The dental support organizations and dental brokers involved are likely not familiar names to you. What’s more, these organizations are merely the surface of the industry. Details like financing, the practice transitions process, and how to find the right attorney are also central to a successful sale. And we haven’t even started discussing the terminology and specific financial, business, and legal terms you’ll need to know to navigate the process successfully.

Most dentists will only sell one practice in their career, so it stands to reason that the process can be overwhelming and complicated. A good dental broker will simplify the practice transition process for you and give you helpful advice and recommendations.

Don’t conflate the conversation you have with any one dental support organization with the industry at large. There are countless DSOs out there, so if you have a conversation with one DSO, you have only had one conversation with a DSO. There are countless options out there. A good dental broker will also have industry connections in their pocket that they’ve developed and cultivated over the years that you’ll have access to. Use these dental connections to streamline the process and find the right fit for you and your needs. By partnering with a practice broker, you’re tapping into their connections and expertise to make your life easier.

You Don’t Know Your Goals

If you’re contemplating selling, you probably are visualizing the sale of the practice as the ultimate goal. These decisions can significantly impact your careers and future professional trajectory. That is sometimes the case, but we encourage you to consider WHY you want to bring a dental support organization on board. Are you selling your dental practice to retire? Are you looking for support on the administrative side of your practice but want to retain decision-making rights on certain key business calls like staffing? Do you want to only practice dentistry and don’t need to retain decision-making powers in the practice? Are you trying to leave dentistry entirely and need a large nest egg to finance your next endeavors?

These are all valid goals, but too many dentists try to sell their practice without understanding why they’re selling. Partnering with a dental broker gives you access to a team of trusted advisors who can help you think through your goals and then offer tailored recommendations accordingly.

You’re Having A Hard Time With The Entire Process

There are countless industry-specific facets when it comes to selling a dental office. Finding the right buyer who aligns with your values and professionalism is crucial for a successful sale. Everything from letters of intent to qualifying prospective buyers is a specific part of this process and one that you’re likely not very familiar with. Other documents, like asset purchase agreements, practice assessments, and draft contracts, also might be outside of the scope of your knowledge. A good dental broker will help you with these details and prepare you accordingly.

Inefficient Transitions

Inefficient dental practice transitions can result in a significant loss of value for the seller. This can occur when the practice is not properly valued, or when the transition process is not managed effectively. Dental practice brokers can help mitigate these risks by providing expert guidance and support throughout the transition process. They can also help identify potential buyers and facilitate communication between parties, ensuring that the transition is completed smoothly and efficiently. Additionally, dental brokers can provide valuable insights into the market, helping dentists make informed decisions about their practice. By working with a reputable dental broker, dentists can avoid common pitfalls and ensure a successful transition.

You Don’t Have The Time

If you had the time to immerse yourself in the practice transition process from the very beginning, you might be able to learn some of the nuances of how to sell a dental practice. The process to buy a dental practice involves numerous steps and can be time-consuming. However, this will require a lot of time, and it’s likely time you cannot spare if you’re trying to run a dental practice. The last thing you want is for your sale process to take longer than necessary because you don’t have the time to deal with potential buyers.

The simple fact of the matter is that correspondence with potential buyers, submitting paperwork, and sales strategy takes time. Many dentists just don’t have the time to dedicate to the sale process, and outsourcing to a dental broker might then make more sense. When you choose a dental broker, they are able to assume responsibility for the process. This dedicated expertise means that no balls are dropped and that your practice transition is prioritized without taking time and energy from your priorities.

Buying a Dental Practice

Buying a dental practice can be a significant investment, with many expenses incurred before closing. It is essential to work with a reputable dental practice broker who can provide guidance and support throughout the process. Dental brokers can help buyers identify potential practices, facilitate communication with sellers, and negotiate the terms of the sale. They can also provide valuable insights into the market, helping buyers make informed decisions about their purchase. When buying a dental practice, it is crucial to consider factors such as the practice’s financial performance, patient base, and physical assets. A thorough analysis of these factors can help buyers determine the practice’s value and make an informed decision about their purchase. By working with a reputable dental broker, buyers can ensure that they find the perfect match for their needs and goals.

You’re Building Generational Wealth

The sale of your practice is likely the biggest deal you’ll ever be involved in. Achieving success in the sale of your practice can significantly contribute to your financial future. If done correctly, you can leverage the sale of your practice to build a nest egg for your future and the future of your family. It’s imperative to have great representation at the table, however, if you’re trying to build generational wealth for your family. Securing 20-40% more on a practice deal could add a pretty penny to your nest egg and be that much more to pass on to your family. The right dental practice brokers will help you secure the best deal possible.

Benefits of Working with a Dental Broker

Working with a dental broker offers numerous benefits for dentists looking to buy or sell a dental practice. These professionals bring a wealth of experience and knowledge to the table. One of the primary advantages is the expert guidance and support provided throughout the entire process. Dental brokers have a deep understanding of the dental industry and can offer valuable insights and recommendations to ensure a successful transaction.

In addition to their expertise, dental brokers have access to a network of contacts and resources, including dental plans and insurance companies. This network can be instrumental in finding the right buyers or sellers and ensuring that all aspects of the transaction are handled smoothly. Dental brokers can also provide valuable advice on practice management and operations, helping dentists to optimize their business and make informed decisions.

Another significant benefit of working with a dental broker is the time-saving and stress-reducing aspect. By handling the complexities of the transaction, dental brokers allow dentists to focus on their patients and practice. This dedicated expertise increases the chances of a successful transaction and ensures that no details are overlooked.

Dental brokers also bring improved negotiation skills to the table, ensuring that dentists get the best possible price for their dental practice. With their knowledge of the dental industry and experience in handling transactions, dental brokers can secure favorable terms and conditions for their clients.

Finally, client testimonials and references provide peace of mind and confidence in the broker’s abilities. Knowing that other dentists have had successful experiences with the broker can reassure dentists that they are making the right choice in partnering with a dental broker.

Contact Triumphant Partners, Dental Brokers

Selling a dental practice is complex, but it doesn’t need to be difficult. We provide updates and important information via text messages to keep you informed throughout the process. The right dental broker will help you sell your first dental practice on your terms, above asking price, and fast! If you’re interested in achieving your career goals, contact Triumphant Transition Advisors today!

We’re here to help you…

  • Evaluate Your Practice

  • Discuss Your Goals

  • Present Your Practice To Our Private Buyers Network

  • Qualify Buyers

  • Equip Your Attorneys With Pertinent Documentation & Data

  • Negotiate Final Sale On Your Terms & Price

Contact Triumphant Transition Advisors For Your Courtesy Consultation!

What’s the Difference between a DSO & a DPO?

by EOSTriumphant

If you’re researching how to sell your dental practice, you’ve likely seen the terms “dental partnership organization” and “dental support organization” come up. You may even have contacts at various organizations or know colleagues who have connected with one of them.

 As you’re navigating the dental practice sales process, you might wonder what the difference is between a dental support organization and a dental partnership organization. The differences between the two may seem small, but they can impact your satisfaction as a dentist. Dentists who don’t research the difference between the two do so at their own risk. Selling to the wrong organization could be a disaster for your career and have a detrimental impact on your business satisfaction. 

The dental practice transition advisors at Triumphant Partners are here to help you answer these questions and determine if a dental support organization or dental partnership organization would be your best business partner. 

Differences between Dental Support & Dental Partnership Organizations

Ownership

Generally, a dental partnership organization will grant the selling dentist greater ownership within the practice. Profit-sharing models are more common in dental partnership organizations. Dental support organizations are an excellent option for dentists who want to have some distance from the ownership and business direction of the practice.

Suppose you want to be in the driver’s seat within the practice and are hoping for the best financial deal possible. In that case, you likely want to primarily field offers from dental partnership opportunities. 

Relationship to the Parent Organization

Dental partnership organizations allow the selling dentist to retain practice-level ownership. Even when a dentist sells their practice to a dental partnership organization, they retain a minority ownership of the practice, the very same practice they’ll be operating and seeing patients in. Profit distribution and equity are vested at the practice level, and if you’re a dentist who wants to control your situation, this can be a great way to bet on yourself. When in a situation with the right dental partnership organization, you’ll reap the benefits of your work, which is always great. 

Dental support organizations, on the other hand, usually operate using the 100% sale model, and profit-sharing is much less common. Equity is generally vested in the organization’s collection of practices, not your specific practice. DSOs are great for dentists who don’t want to be in the driver’s seat but don’t offer the same financial incentives as DPOs. 

Decision Making

DPOs tend to preserve the clinical autonomy of the dentist, and the dentist tends to retain a greater degree of control over the routine decisions of the practice. The dentist will have much more say in hiring, firing, strategic direction, and other routine business decisions within the practice. For many practitioners, this is a fantastic option that allows them to grow their practice, better tend to patients, and retain control of the direction of the practice. For others, focusing on patient care while allowing the dental support organization to manage the practice is a better trade-off. 

Is a DSO or DPO Better for Me?

You might wonder which of these organizations is right for you as a dentist. There are, of course, some overarching trends that might be helpful. Generally, dental-support organizations subsume most decision-making authority within the practice and let the dentist focus on patient care. Suppose you’re a dentist looking to merely tend to your patients and want your partner to own the practice’s strategy, procurement, and hiring. In that case, a dental support organization is likely a good option.

However, if you want to remain involved in the practice’s leadership, ownership, and direction, a dental partnership organization is likely a better fit. You’ll retain much more of a voice in the practice’s future while benefiting from an external partner for capital, expertise, and economies of scale. That’s a tantalizing offer for many dentists.

It is worth noting, however, that each situation and practice sale is unique. Your particular goals, practice culture, practice values, and desired terms all significantly impact which option is right for you. Without a detailed consultation and assessment of your practice, offering a tailored recommendation and strategy for your specific needs is impossible. 

If you are trying to determine if a dental support organization or dental partnership organization is right for you, call Triumphant Partners today!

An Intro to Dental Partnership Organizations

by EOSTriumphant

If you’ve been in the dental community for any amount of time, you’ve likely heard about dental partnership organizations. There’s no shortage of visibility of DPOs within the dental industry, as they are a key part of business partnerships in the dental field. Dental partnership organizations play a significant role in the world of dentistry, with broad relevance and impact across the global dental industry.

You’ve likely seen them at dental conferences, received collateral from these organizations, or heard about colleagues partnering with a DPO. These organizations are a key part of the dental industry – however, you may have never done a deep dive into the concept of a DPO. If you want to learn about dental partnership organizations, you’re in the right place! These are essential questions to ask yourself when selling your dental practice. Read on to learn more about dental partnership organizations.

What is a Dental Partnership?

A dental partnership is a business arrangement where two or more dentists co-own and operate a dental practice together, often involving multiple stakeholders, aspects, and considerations to ensure a successful collaboration. This partnership can take various forms, including general partnerships, limited partnerships, professional corporations, and limited liability partnerships. Dental partnerships offer numerous benefits, such as shared financial responsibilities, increased productivity, and improved work-life balance. However, they also require careful planning, clear communication, and a well-drafted partnership agreement to ensure the success and longevity of the partnership. Each party in the partnership should have clearly defined roles, responsibilities, and expectations to avoid misunderstandings. By pooling resources and expertise, dental professionals can create a more robust and resilient practice, but it is essential to find the right fit among partners to ensure compatibility and a shared vision for the practice. This approach enables the delivery of high-quality care while managing the complexities of business operations.

Types of Dental Partnerships

Dental partnership structures generally fall into two types: general partnerships and more formal arrangements such as limited partnerships, professional corporations, limited liability partnerships (LLPs), and dental service organizations (DSOs). Understanding these two types is essential for crafting successful and mutually beneficial agreements.

There are several types of dental partnerships, each with its unique characteristics and advantages:

  1. General Partnerships: In a general partnership, each partner has an equal or proportional ownership of the dental practice. This type of partnership involves shared responsibility, meaning that if one partner makes a decision, it’s as if all partners made that decision. This collaborative approach can foster a strong sense of teamwork and mutual support among the partners involved.
  2. Limited Partnerships: A limited partnership includes both general and limited partners. General partners handle the day-to-day operations and make significant decisions for the dental practice, while limited partners invest money in the practice but do not participate in daily management or decision-making. Associates may start as employees or limited partners and later transition to general partners, allowing for a pathway from associate to partner status. This structure allows for financial contributions without the need for all partners to be actively involved in business operations.
  3. Professional Corporations: In a professional corporation, the dental practice becomes its own legal entity. This setup can offer benefits like protecting personal assets and providing tax advantages. Professional corporations can also facilitate smoother transitions in ownership and succession planning, making them an attractive option for many dental professionals.
  4. Limited Liability Partnerships (LLPs): An LLP offers protection from the actions of partners. In an LLP, dentists are not personally responsible for their partners’ professional mistakes or negligence. This structure provides a layer of security, allowing partners to focus on their clinical work without worrying about potential liabilities from their colleagues’ actions.
  5. Dental Service Organizations (DSOs): A DSO manages the business aspects of a dental practice, offering services like marketing, billing, and staffing. Partnering with a DSO allows dentists to remain in control of the clinical aspects of their practice while benefiting from professional management of the business side. Associates in DSOs may have specific roles or opportunities to move into partnership or ownership positions, depending on the organization’s structure. This can lead to increased efficiency and profitability.

Structuring a Partnership

Structuring a dental partnership is a vital step in building a successful and sustainable dental practice. The foundation of any effective partnership lies in a well-crafted partnership agreement that clearly outlines the terms, conditions, and expectations of all parties involved. Dental professionals must carefully consider the type of partnership that best suits their goals—whether it’s an expense-sharing arrangement, profit-sharing model, or a silent partnership. Each structure offers unique benefits and potential drawbacks, so it’s important to weigh these factors in light of your practice’s needs.

A successful partnership begins with a clear understanding of each partner’s goals, roles, and responsibilities. This includes determining percentage ownership, profit sharing, and how expenses will be divided. For example, some partnerships may split profits based on production, while others may use a set percentage ownership model. It’s also essential to address important matters such as marketing responsibilities, patient care duties, and financial management within the agreement.

Consulting with an experienced dental attorney is a wise move to ensure your partnership agreement is comprehensive and legally sound. A dental attorney can help draft provisions that protect your personal assets, clarify profit sharing, and establish a non-compete provision to prevent conflicts if the partnership dissolves. This legal guidance is crucial for safeguarding the interests of all partners and ensuring the long-term success of the dental practice.

Additionally, dental professionals should assess their own financial situation and risk tolerance before entering into a partnership, as each partner may be liable for the actions of others. Regularly reviewing and updating the partnership agreement helps maintain alignment with evolving goals and industry changes, reducing the risk of disputes and supporting ongoing success. By taking these steps, dental partnerships can be structured to maximize benefits, minimize risks, and create a strong foundation for future growth.

Benefits

A DPO or Dental Partnership Organization is merely an organization that partners with dentists to create more efficient and impactful dental practices. This partnership can take various forms, including general partnerships, limited partnerships, professional corporations, and limited liability partnerships. A limited liability partnership offers protection from the actions of partners, safeguarding personal assets from business liabilities. The how of each DPO will vary, but all DPOs work by partnering small dental practices with a broader network for more support and operational efficiency. DPOs also assist dentists by providing support in daily operations and business growth, fostering a collaborative environment that helps practices thrive. DPOs provide a plethora of benefits for many dentists. The list below isn’t exhaustive, but it is a good overview of why many dentists partner with dental partnership organizations.

Time-Savings

By some estimates, dentists are one of, if not the most overworked professions. Small dental practice owners might be the most overworked. That’s one of the principal reasons many dentists are interested in partnering with a dental partnership organization. The opportunity to get their nights and weekends back is incredibly tantalizing to many dentists. All the administrative tasks involved in running a dental practice, often considered the ‘grunt work’ of the profession, can be subsumed by the Dental Partnership Organization, allowing the dentist in question to focus on patient care.

Financial Gain for Dental Practices

Working with a DPO can also help you grow your practice. The balancing act between being a healthcare provider and a business owner is one that many dentists struggle with. By bringing on an experienced DPO, you’re better poised to invest in marketing, find ways to increase profit margin, retain customers, and provide better service. Plus, you’ll likely keep a seat at the table regarding business operations. As a partner within your practice, you’ll be supported by the DPO’s expertise but will also retain some degree of ownership in the direction and profits of the practice. Clear profit-sharing arrangements can help ensure transparent and equitable financial management within the practice, including how pay is structured and distributed among partners. That’s an excellent place for many dentists to be.

Upskilling for Dental Professionals

If you’re a dentist looking to further your education and career, a dental partnership organization can help better connect you with your peers and the industry. Access to these conferences provides many dentists with continuing education and a network of colleagues. For associates, these organizations often offer valuable opportunities for career advancement, including pathways to transition from associate roles to partnership within the practice. Depending on the organization, you might have access to funding for certain continuing education pursuits.

Economies of Scale & Access to Resources

Running a dental practice as a solo practitioner has its perks, but it also comes with drawbacks. One of those drawbacks is the cost-prohibitiveness of being a small business owner. On the other hand, dental partnership organizations have extensive experience supporting practices nationwide. This expertise proves invaluable when looking to support your dental practice better. By partnering with a DPO, you can access more capital to better staff and equip your practice and efficient economies of scale for procurement. This partnership also facilitates collaboration among dentists and other dental professionals, allowing for shared resources and knowledge.

Important Aspects of a Dental Partnership Agreement

A dental partnership agreement is a crucial contract that outlines the terms and conditions of the partnership, providing a formal legal framework for the relationship. Important aspects of a dental partnership agreement include:

  1. Membership Interest: The value paid for the interest should not be the full amount paid for the practice. This ensures that the financial contributions of each partner are fairly represented and that the partnership remains equitable. It is important to determine whether the prospective partner’s philosophy and goals align with the practice before proceeding.
  2. Purchase Price: The purchase price is generally split between a small amount for the interest upfront and the balance to be paid as deferred compensation to the seller. This structure helps manage cash flow and ensures that the seller remains invested in the success of the practice during the transition period. When purchasing an interest in the practice, careful review of all documents and agreements is essential.
  3. Warranties and Hold-Harmless Provisions: These provisions protect the partners from potential liabilities. They ensure that each partner is safeguarded against unforeseen issues that may arise from the actions or omissions of other partners.
  4. Employment Agreements: Each partner should have a new employment agreement that outlines their compensation, benefits, responsibilities, and hours of employment. Clear employment agreements help prevent misunderstandings and ensure that all partners are on the same page regarding their roles and expectations. A non compete agreement should be included as a key contractual clause to protect the practice from competition after a partner leaves.
  5. Asset Definition: The partnership agreement should clearly define what assets are considered to be assets of the partnership. This clarity helps avoid disputes and ensures that all partners understand what is included in the partnership’s assets.
  6. Valuation of Assets: The valuation of assets should be tied to the individual production of each owner. This approach ensures that the value of the partnership reflects the contributions of each partner, promoting fairness and transparency.
  7. Profit Splits: Profit splits are typically based on production, but profits are split by ownership. This method aligns the financial rewards with the contributions of each partner, incentivizing productivity and collaboration. Deciding on the method for splitting profits and other key business terms is a critical step in forming a successful partnership.
  8. Expense Splits: Expenses may be split by production, but rent and other facility-related expenses are often split equally. This arrangement ensures that all partners share the costs of maintaining the practice, promoting a sense of shared responsibility.
  9. Letter of Intent (LOI): An LOI should be established to outline the preliminary terms of a buy-in/buyout situation. This document serves as a roadmap for the transition process, providing a clear framework for negotiations and ensuring that all parties understand the terms of the agreement.

All terms and agreements should be documented in writing to prevent disputes and clarify the responsibilities of each partner. Non-compete clauses and other restrictions should be clearly defined to set appropriate limits and protect the interests of the practice.

By understanding the different types of dental partnerships and the important aspects of a dental partnership agreement, dentists can make informed decisions and create a successful and sustainable partnership that benefits all parties involved. Before finalizing any partnership agreements, it is strongly recommended to consult with legal or financial professionals to ensure compliance and protect your interests.

Process and Business Operations

Do you love dentistry but find yourself spending most of your time tending to the non-dentistry elements of running a dental practice? Do procurement, marketing, HR, and general administrative tasks take up countless hours of your day? If so, a dental partnership organization might be an excellent fit for you! If you’re considering partnering with a DPO, they likely have extensive experience templating and coordinating all the humdrum elements of business ownership you don’t enjoy. The amount of process a DPO brings to your practice is quite freeing for dentists trying to wear multiple hats independently. 

Finding the Right Collaboration

Finding the right collaboration is an important aspect of establishing a successful dental partnership. The process goes beyond simply matching skills or sharing expenses—it requires a clear understanding of each partner’s goals, values, and expectations. Dental professionals should seek out partners who share their vision for the practice and are equally committed to delivering high-quality patient care. This alignment is key to building trust and ensuring a smooth working relationship.

When evaluating potential partners, consider factors such as personality, work style, and communication skills. These elements can significantly impact the day-to-day dynamics of the partnership and the overall success of the practice. Collaborating with other dentists who have complementary expertise can enhance the range of services offered, attract new patients, and increase profitability. It’s also important to assess the financial implications of the partnership, including the potential for increased income and reduced expenses through shared resources.

A well-structured partnership agreement is essential for preventing misunderstandings and conflicts. However, open and honest communication remains just as important. Regular meetings and reviews help partners stay aligned, address any issues that may arise, and adapt to changes in the dental industry. As dental partnerships become increasingly popular, more dental professionals are discovering the benefits of collaboration, such as improved work-life balance, access to greater resources, and the ability to provide better care to patients.

By carefully considering these factors and prioritizing clear communication, dental professionals can find the right collaboration, structure a successful partnership, and build a thriving dental practice that stands the test of time.

Call Your Triumphant Transition Dental Partnerships Advisor Today!

Are you considering selling your dental practice? Do you need help understanding your practice’s value, potential options, and closing the deal? It’s always wise to seek professional advice from experienced attorneys or advisors to ensure your decisions are legally sound and in your best interest.

How to Sell Your Dental Practice In 2024

by EOSTriumphant

Dentistry can be a challenging industry. Many dentists have poured countless hours into their careers to reach the point of owning a dental practice. 

You’ve invested an immense amount of time, from undergrad to dental school and beyond, to get here—and now, you might be wondering how to effectively sell your dental practice. It’s not an easy feat, but it is a worthy one. Selling your practice to the right buyer can be an excellent springboard to the next step in your career, whether that’s retirement, growing your practice, or finding a better work-life balance.

However, it’s not as simple as posting your practice online. You’ll need to ensure you’re selling to the right buyer, which isn’t always easy. This is one of the most significant career decisions of your life; the stakes are high. To help demystify the process and guide you through selling your dental practice, the transition experts at Triumphant Partners have put together this step-by-step guide. Read on to learn exactly how to sell your dental practice.

Know Your Value

Knowing the value of your dental practice is the first step in the process. Without an accurate understanding of its worth, you won’t be able to evaluate offers from interested buyers effectively. You might relate this to selling your house – before beginning the process, you must first know its value. Determining this value can be difficult, but just as with your dental practice, it’s critical that you get the assessment correct. If you don’t, then you could be drastically underselling your practice – or, in the case of this example, your house. 

Even if you think you “know” your practice’s value, it’s wise to return to this and reassess. Many common valuation methods might undervalue your practice or overlook relevant aspects that make it more enticing to a buyer. Your dental practice is complex; estimating its value accurately is equally complex and an essential step before you sell.

Know Your Goals

The dollar value of your practice is, of course, important, but every dentist is different. The right business deal for one dentist might be a poor fit for another. That’s why it’s critical to clarify your goals and assess prospective offers against them. Would you prefer to work with a large organization with ample resources and strict processes? Or would you rather have more day-to-day flexibility? Knowing your goals helps you better understand your ideal outcome and adjust your expectations accordingly.

Know Your Preferred Buyer

Any good marketer knows their target demographic when launching a new product. They can describe the demographic and socioeconomic details of their buyer, their motivations, pain points, and potential objections. This detailed ideal customer profile helps the world’s biggest brands understand buying behavior and tailor marketing to attract potential buyers.

While you may not need to know all the specifics that a Fortune 500 company does, you should have a clear idea of what is and isn’t a good fit for you as a seller. For instance, if you want substantial flexibility, many dental support organizations might not be suitable for you. Conversely, a dental support organization could be a great fit if your focus is primarily on patient care and outcomes.

Know Your Advisor

A trusted dental practice advisor is invaluable to the sale and transition process. You may know the dental industry well, but the ins and outs of practice sales and transitions are a different realm. An industry expert with strong business relationships and deep familiarity with practice transitions is a valuable resource. If you’re looking for a dental practice transition advisor, look no further than Triumphant Partners!

A dental practice transition advisor can:

  • Help You Develop Your Ideal Customer Profile
  • Evaluate Your Practice Finances & Assess Its Value
  • Screen Potential Buyers & Assist with Drafting Letters of Intent
  • Keep You Abreast of Market Trends
  • Inform You of Common Pitfalls in Deals & What to Keep an Eye Out For
  • Help Create a Full Auction and Bidding Process 

Call now for your courtesy consultation!

Common Mistakes Made When Selling A Dental Practice

by EOSTriumphant

When you’re looking to sell your dental practice, you likely have many questions, and rightfully so. Selling to the right buyer could be a significant next step in your career. Selling to the wrong buyer could completely upend your career and waste one of your greatest assets. 

A lot is riding on the sale of your dental practice, and this sale is likely the most complex, valuable, and intricate of your career. The stakes are high, and you can’t afford any missteps. 

To help you prepare, our team has compiled a list of common mistakes to avoid when selling your dental practice. Read on to learn more!

Mistake 1: Not Knowing Your Worth

Imagine trying to sell a car without knowing the approximate worth of the vehicle in question. You might be able to field quotes, haggle, and finalize a deal, but you’ve likely left money on the table by going in without a good estimation. The complexity and nuance of sales are bad enough when you’re selling a car; now, imagine what it’s like when you’re trying to sell a business with an existing client base, experienced staff, and high-end medical equipment. The potential for misquote or undervaluation is high. 

We always recommend getting an accurate practice valuation before fielding any inquiries. Trust us; you’re flying blind without knowing what your dental practice is worth. 

Mistake 2: Accepting the First Offer

Your first offer is likely not the best offer. This is particularly true if you’ve just received a cold call from a Dental Partnership Organization. The dollar figure of the deal offered might be enticing, but it’s likely not the fair market value of your dental practice. The fact that these DPOs are taking the time to cold call you is a sign that your practice is valuable. Don’t be tempted to bite at the first offer. Take the time to understand the value of your practice and screen a list of qualified and interested buyers. If you take the time to field several offers, the odds of selling your practice at your terms and for your ideal price point increase significantly. This is where trusted transition counsel can be invaluable. 

Your dental practice transition advisor will be able to help you gauge the many offers you’re considering and can even help you find new interested buyers. 

Mistake 3: Not Reading the Fine Print

Joining a Dental Partnership Organization or a Dental Support Organization isn’t just a question of dollar amount. Oftentimes, the terms of the agreement have just as much lasting impact on how you live and work with the organization in question. Details around who controls hiring and firing decisions, profit-sharing, and other key practice leadership elements can make or break your satisfaction with your new partner.  For instance, if you expect to retain control over staffing, you might be in for a rude awakening if your new partner has its eyes set on some hiring changes within your practice. That can sour your new business partnership and fast. 

Few things in life are as burdensome as a complex business partnership; make sure that whatever organization you sign with is the right partner for your unique situation. 

Mistake 4: Not Calling Triumphant Partners 

Selling a dental practice is challenging work and one that requires expertise, dedication, and skill. If you’re looking for a trusted dental practice transition advisor to help you navigate the complexity of the sale process, look no further than Triumphant Partners. Our advisors have a deep and intimate knowledge of the dental industry – knowledge that they apply to your case to help you sell your practice on your timetable and terms. At TTP, we offer:

  • Practice Evaluations
  • Access to Private Buyer’s Network
  • Help Screening Applicant & Drafting Letters of Intent
  • Pertinent Financial Documents to Equip Your Attorneys at Close

You need a dedicated and savvy dental practice transition advisor if you want to sell your dental practice on your terms and timeline.  Selling your dental practice can be complicated, but it doesn’t have to be with Triumphant Partners. Call now for a free consultation to discuss your needs further!

3 Things to Bring to a Dental Practice Negotiation

by EOSTriumphant

The closing negotiations of a dental practice deal are imperative for your career. If you’ve practiced as a dentist and have decided to sell, you have likely poured countless hours into your practice. You’ve seen it all and have spilled so much blood, sweat, and tears while caring for your patient base. Successfully selling your dental practice is the final step in ensuring that your patients and practice are cared for. You want to rest easy knowing that your dental practice sale is successfully in its closing stages.

If you want to finalize your dental practice transition and close the deal successfully, you’ll need to come prepared, and that will almost certainly require outside assistance. Triumphant Partners has helped countless dentists do just this over the years and has identified a few items that are always worth having when nearing close. Read on to learn more! 

Financial Information

Any dental support organization or dental partnership organization will want to review your financials with a fine-toothed comb. They’re in the business of partnering with qualified companies, after all, and your financial data will be of the utmost interest throughout the sales cycle. 

This starts with a thorough and detailed practice evaluation at the onset of the sales cycle. Once you know the dollar figure of your practice, you’re better equipped to field offers and answer questions from buyers. This is the first step for financial documentation in the dental practice sale cycle; without a complete practice evaluation, you run the risk of accepting a below-market offer and could potentially leave tens of thousands of dollars on the table.

However, while practice evaluation is the first step, it is not the last.  The practice evaluation stage is usually followed by a review of your finances, which are documented thoroughly at the end of the deal. While you may have to disclose the below before closing, you should have most of, if not all of, the following at the end of the deal:

  • Tax Returns
  • Cash Flow Statements
  • Evaluation of Practice Tech
  • Collections Reports
  • Production Reports
  • Growth Projections

Operational Information 

Your practice is so much more than just financial information. You’ll need to have a slew of operational details as you prepare to close. The dental support or partnership organization will be interested in financials, but they will also be interested in ensuring operations can continue unabated after close. They could want to see any or all of the following to help achieve that goal. Even if all of the below are not necessarily required at closing, it’s recommended that you assemble and package everything you can to assist in the transition period. 

  • Standard Operating Procedures
  • Office Processes
  • Staff Employment Documents
  • Catalog of Inventory
  • Full Assessment of Assets On Site
  • HR Paperwork
  • Information Surrounding the Storing and Management of Patient Data
  • Practice Marketing Material
  • Calendars, Log-Ins, and Other Necessary Operational Details

Compliance & Legal  Information 

The dental support or dental partnership organization you’re selling to will also want to ensure that all your legal affairs are in order. Transitioning a dental practice will require alignment between your attorneys and the buyer’s, which usually requires an extensive legal review. Be prepared to provide any of the following. 

  • Purchase Agreements
  • Business License
  • Business Entity Information
  • Deeds
  • Corporate Charter
  • Bill Of Sale
  • Proof Of Safety Compliance
  • Any Outstanding Legal Documents Or Legal Affairs

Cross Your Ts and Dot Your Is with Triumphant Partners

An industry expert in your corner is invaluable when selling your dental practice. A dental broker with established industry connections and a proven track record of closing beneficial deals for their clients is a tremendous resource to have when nearing the close of a deal. 

That’s where Triumphant Partners comes in! 

You have enough on your plate. Let the experts at Triumphant Partners help you gather all of the pertinent information and prepare to close your deal. Too many dental practice brokers treat their client practices as transactional deals; we know that your practice is one-of-a-kind and will always help you find the most qualified buyer for your specific needs and goals. Relational deal-making motivates our team; we will always bring that approach to your deal. 

The right buyer is more than mere financials; it’s a buyer who will integrate with the treatment philosophies, practice dynamics, and mission statements you’ve built at your office over the years. Triumphant Partners is here to help you find that buyer. 

We promise to…

  • Always Represent Your Interests and Your Interests Only
  • Help You Value Your Practice
  • Guide You through the Sales Cycle
  • Assist Your Attorneys with Valuable Information at Close

Call your friendly Triumphant Transition advisor for a courtesy consultation today!

6 Reasons Why You Need a Trusted Advisor to Sell Your Med Spa Practice

by EOSTriumphant

Selling your med spa is rewarding but often easier said than done. You’re probably doing your best to run the med spa efficiently and care for your patients, but that’s not an easy task in and of itself. Finding the time to sell your med spa can feel impossible if you’re barely keeping afloat with your day-to-day tasks. 

However, selling your med spa – and turning a profit while doing so – is a surefire method to springboard into the next stage of your career. You just might need a seasoned industry expert to help you achieve your ultimate goal. 

If you’re looking to sell your med spa, here are six reasons why working with an advisor is key to reaching your goals.

1. Professional Valuation and Market Knowledge

An advisor can help you determine the true value of your med spa, factoring in assets, brand reputation, patient loyalty, revenue streams, and current market demand. This critical market insight ensures you set a price that attracts buyers while maximizing your potential profit. Advisors also bring valuable knowledge of the med spa industry, helping you navigate competitive positioning so you can approach the right buyer pool. At Triumphant Partners, we offer courtesy practice valuations to help start the process, ensuring you have a solid understanding of what your med spa is worth.

2. Access to a Qualified Buyer Network

An advisor offers access to a broad network of serious, qualified buyers—people who understand the business and have the resources to make a worthwhile offer. Going it alone can lead to countless unqualified inquiries and wasted time, while an advisor can focus only on those genuinely interested and financially prepared, so you avoid sifting through mismatched buyers. This saves you time and money in the long run, both of which only contribute to your overall goal of successfully selling your med spa. 

3. Efficient Process and Confidentiality

Selling a business requires a great deal of paperwork, regulatory compliance, and due diligence, and it’s essential that each step in the process is followed precisely to avoid any delays when it comes to closing the deal. An experienced advisor will streamline each step, allowing you to focus on your med spa’s daily operations. Confidentiality is also paramount in this process—an advisor can discretely market your med spa, ensuring you’re protected and maintaining trust with patients and employees.

4. Skilled Negotiation and Best Terms

A seasoned advisor is skilled at negotiating, ensuring you receive the best terms possible. Without an advisor in your corner, it’s easy to be swayed by early offers, especially if you’re unfamiliar with how med spa businesses are typically valued. Advisors know how to evaluate offers and navigate complex terms and contract clauses, preventing you from leaving money on the table or agreeing to unfavorable terms. 

5. Ensuring Compliance with Med Spa-Specific Regulations

The med spa industry is subject to unique regulations that many med spa owners – who’ve never sold a practice before – might be unaware of. Overlooking compliance could lead to costly complications during the sale. Advisors help ensure you adhere to legal requirements at every stage, from documentation and patient data handling to equipment sales. Their expertise minimizes the risk of any issues arising post-sale, protecting you and your investment.

6. Maximizing Profit and Meeting Your Goals

Maybe you’re looking to retire. Perhaps you want to start a new and completely different career path. Whatever your reason for selling your med spa, an advisor is there to help you reach your financial and personal goals, leveraging their expertise to increase profitability and efficiency. Advisors focus on helping you achieve your vision by finding the right buyer at the right terms so you can transition confidently.

Sell Your Med Spa with Triumphant Partners

If you’re contemplating selling your med spa, you’ve come to the right place. Call Triumphant Partners today! 

When we partner with a client, we represent your interests and your interests only. Our main goal is to ensure you find the right buyer at the right terms and price, and you can rest easy knowing you have the best medical spa broker in your corner. If you’re looking for a relational and consultative medical spa broker, call Triumphant Partners today!

How Does a Practice Evaluation Help Your Attorney at Close?

by EOSTriumphant

If you want to sell your dental practice, you will need a good attorney in your corner. This will likely be the most complex business deal of your life, and a seasoned, industry-knowledgeable attorney is a great asset when navigating the intricacies of selling your dental practice. 

Their expertise is invaluable, particularly as you near the end of the deal cycle and are in the process of ensuring that your deal is structured to avoid any unnecessary legal and financial liabilities.

However, one key piece of the dental practice sale cycle needs to be addressed. Knowing the worth of your dental practice is very important and will make your attorneys even more impactful at close. Too many dentists use outdated and inaccurate “rules of thumb” when valuing their practice worth. These assessment tools might be fine for getting a quick range for your purposes, but they’re almost useless when finding a buyer, selling your practice, and closing the deal in your best interests.

The experts at Triumphant Partners have been helping dentists sell and transition their practices for years and have learned a thing or two about dental practice evaluations in the process. In this blog, we’ll share how an accurate and detailed financial assessment will help you at close. 

A Baseline Comparison

If you’re selling your dental practice to a dental support organization, it’s in their best interest to make you an initial offer and one that is likely not their best offer. It’s just a part of their business model and something you should be aware of. If you don’t fully understand what your practice is worth, the odds of you accepting a lowball offer rise tremendously. Depending on your practice and the dental support or dental partnership organization you’re selling to, this could mean a difference of tens or even hundreds of thousands of dollars!

The proposed compensation within a dental transition agreement can also be complex. Your total earnings could vary considerably, depending on the terms of the deal. Bonuses, base salary, and incentives can all impact your total earnings. Your practice’s value is a vital piece of this. A detailed and accurate valuation gives you a view of the value of the business, and this helps you better gauge if the compensation offered is in line with what other dentists command for similar practices. Only an accurate dental practice evaluation can help in this endeavor. 

Employment Guidance

Your practice’s value is much more than just cash flow and debts. There likely will be key employees that the buyer will want to retain after the transition to ensure smooth operations. The nuts-and-bolts paperwork of your existing employees will need review, as well as the practice transitions. Everything from termination agreements, standard operating procedures for performance improvement plans, employment plans, non-disclosure agreements, and non-compete clauses is relevant to determining what the deal should look like. A clear view of the value of the practice is a substantial first step towards structuring this deal. 

For instance, if the practice is valued highly and the DSO wishes to retain staff during the transition, understanding the value of the practice gives you some leeway when stating your desired terms. Your practice is worth more than just a dollar figure on paper. The people who help support operations and tend to patients add quite a bit of value to the dollar figure of the practice—knowing that dollar figure enables you to advocate for the terms you need to keep your best staff and keep the practice running successfully. 

Bargaining Power

At the end of the day, selling your dental practice should happen when you want it to happen and feel comfortable with the terms, dollar figure, and DSO at hand. Having faith in your dental practice and recognizing its value means you can rest easy at the negotiation table. If you don’t feel comfortable with the DSO or deal in front of you, don’t sell. That’s much easier to do when you know your worth and what price you can command on the open market. The ability to have faith and walk away from a poor deal if you so desire is liberatory for many dentists, and that sort of bargaining power does not exist without a clear understanding of your practice’s worth. 

Call Triumphant Partners Today

You’ll need a good understanding of your practice’s value before you go to market. You could use a vague “rule-of-thumb,” but this is likely to be essentially an estimate. Getting a professional audit done is best to determine your practice’s value. 

If you’re considering selling your dental practice, call Triumphant Partners today! A veteran dental practice advisory firm is a tremendous asset to have in your corner as you go to market. We’re here to represent your interests in the deal, not those of the DSO or DPO. As a dental office brokerage, we focus on building lasting relationships and treat your practice as if it’s our very own. In a world where most sales are transactional, partner with Triumphant Partners for relational dental practice transitions. 

At Triumphant Partners, we:

  • Help You Understand the Value of Your Practice
  • Review and Screen Potential Buyers with You
  • Enable Access to Our Private Buyers Network
  •  Provide Your Attorneys with Useful Financial Data at Close

Call Triumphant Partners today for your courtesy consultation!

4 Dental Industry Trends To Watch

by EOSTriumphant

No industry is ever genuinely stagnant. New tech, regulations, consumer preferences, and methodologies are constantly emerging and causing shifts in industry execution and standard operating procedures. 

Regardless of your industry, an annual review will almost always reveal sizable changes from the past year. While many sectors change year over year, the dental industry, in particular, is poised for a rapid acceleration in the rate of change as new technologies and patient preferences dominate the field. If you’re monitoring the dental industry, you’re likely aware of just how important the following trends are for those practicing. 

The experts at Triumphant Partners leveraged their industry knowledge to put together the below list of dental trends to watch. You are likely already seeing some degree of impact from the phenomenon below, and we expect that to continue in the months and years ahead. Better understanding the below is your first step towards capitalizing on the industry’s direction and planning accordingly. Read on to learn more about the dental trends we think you should be paying attention to! 

Teledentistry

Increased access and improved technology have led to a boom in teledentistry. The idea of seeing a dentist virtually for your dentistry needs was the stuff of science fiction a few years ago. Now, the medium is taking off and becoming more and more mainstream. The reasons are myriad, but ease of access, convenience, and the ability to care for mobility-limited or rural patients were top drivers. Teledentistry isn’t perfect for every practice, and the prevalence of technology can be a limiting factor for many dentists, particularly those in smaller practices. 

However, if you are a dentist looking to understand where your practice can better serve your patients, researching and implementing a successful teledentistry program is a great option. Most practices that have begun offering teledentistry have only done so post-COVID-19, so the medium is still in its infancy. However, we expect to see this form of patient care being par for the course of most dental practices by the end of the decade if this rate of adoption continues. 

Increased Demand for Skilled Positions

Dental practices require so much more than an excellent dentist to stay up and running. Experienced and professional support staff are paramount to your success as a practice. Practice managers, in-house marketers, billers, dental hygienists, and other support staff are essential to delivering good care. The industry is poised to see a growth in demand for these positions. 

Complexity of Practice 

Practicing as a dentist is more challenging than it used to be. Running a small business always requires wearing multiple hats, and dentistry is no exception. You may have gone to school to learn how to tend to patient needs, but your dental practice likely requires you to fulfill multiple roles. You may find yourself serving as an in-house marketer one minute, a procurement specialist another, and a facilities manager by the end of the day. This shows no signs of abating. New technology, greater competition for skilled support roles, and new changes to the network landscape all put more and more stress on small, independent dental practices. This has, in turn, led to our next trend: dental industry consolidation. 

Consolidation

Industry forecasts expect dental consolidation to continue throughout the next few years, and the reasons for this are straightforward. Large and operationally efficient dental support organizations (DSOs) are much better positioned to provide support at scale than small, independent practices. DSOs can more efficiently provide everything from procurement and billing support to technology investment and upskilling. This is a compelling offer for many dentists, especially those working upwards of 70 hours a week to keep the practice afloat. We expect to see more and more dentists look to sell their practice to a DSO in the years ahead to streamline their operations and better tend to their patients. 

Call Triumphant Partners 

Selling your dental practice can be a rewarding experience, but it can also be one of the most stressful and harrowing of your life. The industry is constantly evolving, and your practice could or could not be in demand. A seasoned transition partner who knows how to value a practice’s worth properly, structure transition deals for your benefit, and find the right DSO or DPO partner is critical.

That’s where Triumphant Partners enters the picture! Your practice is unique, and you should only be conversing with DSOs or DPOs that align well with your long-term goals! A savvy practice transition partner and advisor can help you find the right buyer and sell your practice on your terms and timetable.

Call your friendly Triumphant Transition advisor for a courtesy consultation today!