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Subscription-Based Selling in a Dentist Practice

by Triumphant Partners

Running a dental practice is no small feat. Every day is different, and you and your staff are constantly encountering new challenges in patient care, practice management, and regulatory compliance.

Part of the fun of working in such a challenging industry is the introduction of new modes of operating. If you’re looking to introduce new ways of streamlining the operations of your dental practice, you need to be aware of subscription-based patient plans. 

New pricing and patient care models can help you better meet your patients’ needs and grow your practice. A subscription-based pricing model is one interesting way to offer first-rate dental care to your patients, and it has taken the industry by storm. 

Growth of the Model 

You have likely seen the rise of the subscription economy in your personal life. Whether it’s wine, makeup, meal kits, or international snack boxes, Americans are flocking to the subscription-based model. Dental healthcare is no different. Kleer, one of the pioneers in dental membership, was named one of the fastest-growing companies in America in 2023. According to some estimates, this model looks to be the future of dental care, and its growth shows no signs of abating in the near future. But what are the benefits of adding a subscription-based dental care model to your practice?

Customization

While there are some constants in dental care, every patient is different. Yes, we all have some baseline dental hygiene needs that should be tended to, but not every patient needs the exact same sort of treatment. Dental care packages or plans allow you to customize care to what each patient needs and better tend to the patient’s unique dental health. 

Increase in Patient Access

By some estimates, 80 million uninsured Americans forego dental care yearly. That’s an astonishingly high number and has a massive impact on the country’s dental health. As any dentist or healthcare practitioner can tell you, preventative care is the backbone of successful patient outcomes. Rising insurance costs within the dental industry prevent many Americans from seeing a dentist, increasing the odds of a negative dental health outcome in the future. This is a huge blindspot within the dental industry’s coverage and threatens millions’ dental health.

Subscription-based dental coverage is one interesting way to offer better coverage to these underserved Americans and improve their oral health. Monthly subscription fees are often cheaper than insurance premiums, and they also help the dentist’s bottom line, as there is no insurance cut in this equation. 

Preventative Care

A subscription-based model is a great way to increase access to preventative care and improve patient outcomes. A care plan or package can help patients bundle their preventative care costs together. Imagine a dental practice offering a care package with two cleanings within a year. This packaged approach makes scheduling this critical care easier and allows the underserved to receive much-needed preventative care that will keep their oral health strong in the future. 

Retention

Patient attrition is an oft-forgotten element of dental practice management. Depending on how you measure the phenomenon and where your practice is in both lifecycle and market, patient attrition can be between 10-20%. That’s a problem if you’re a dentist looking to increase your patient base. Imagine implementing a successful marketing campaign and improving your net new patient numbers by 15%, only to discover that your patient attrition rate of current patients was 10%. Your astounding 15% increase is now cut to 5%, a respectable but lesser spike in growth. If your patient attrition rate was on the higher end at 20%, your marketing campaign hasn’t so much increased net new patients as merely lessened the rate of loss. As a dentist, you should measure your patient attrition rate. 

Subscription-based models can help mitigate this loss. If your patients are already paying for your services monthly or annually, there’s no reason for them to avoid coming in. This can be a win-win for all parties involved. The dentist in question stabilizes their collections and patient base, which is a key step in evaluating and growing the practice in the future. The patients involved secure access to quality preventative oral healthcare. 

Call Triumphant Partners

A subscription-based model of oral healthcare can be an interesting way to court the interest of a dental support organization or dental partnership organization. As mentioned previously, this pricing model is beneficial for dentists looking to increase recurring revenue, provide access to more patients, decrease patient attrition, and increase net new patients seen. These are all incredibly valuable metrics to track if you want to sell your dental practice to a DSO or DPO. The better these metrics are for your practice, the better your asking price. If you’re looking to sell your dental practice, this sort of subscription service could be a force multiplier for your dental practice. 

If you’re looking to sell your dental practice, call Triumphant Partners today! Selling your dental practice can be a complicated process to undergo by yourself. A trusted, industry-leading partner is a must-have to help you sell your dental practice on your terms. Call Triumphant Partners to discuss how to sell your dental practice at your asking price and what your dental practice is worth!

Selling Your Dental Practice in 2025: Partner with Triumphant Partners

by Triumphant Partners

Selling your dental practice is the biggest and most important sale of your life and should not be taken lightly. If you want to successfully sell your practice on your terms and within your timetable, partnering with an industry expert is critical.

Triumphant Partners is that industry expert and partner dedicated to your success. Our team understands the complexities and nuances of the dental practice market and brings that expertise to your practice transition.  Our services add a layer of expertise to the transition of any dental practice – expertise that is critical in such a competitive market. Read on to learn about the Triumphant difference! 

Industry Expertise 

Industry expertise is a prerequisite for success in the mergers and acquisitions process. This is especially true in an industry as multifaceted, regulated, and dynamic as the dental sector. A good partner in your merger and acquisition process will bring a wealth of industry knowledge that a less experienced broker lacks.  Everything from patient credits to insurance reimbursement fees to the condition of your dental practice equipment, lease terms, online presence, and tenure of the team needs to be carefully considered.

An advisor who is familiar with these nuances of the dental industry is an advisor who can help you maximize your practice value. A trusted advisor familiar with the dental industry makes the process easier for all parties and enables you to start your transition on the right foot. 

Why Choose Triumphant Transition Partners?

You have a plethora of options when you’re looking for a dental practice transition expert. However, few have the proven expertise and track record necessary for such a large, complicated merger and acquisition. Our expertise is yours to utilize to make your transition a rousing success. 

  • Market Knowledge: Our expertise begins with analyzing the dental market and our knowledge of historical and current trends within the space. This knowledge helps us utilize this industry context to find you the most qualified buyer. 
  • Buyer Relationships: By partnering with Triumphant, you receive access to a vetted network of up to 1000 qualified buyers, which helps you sell your dental practice exponentially quicker. 
  • Negotiation Support: Our team brings their experience in negotiating to your transition and helps you achieve the terms, timelines, and price points necessary to transition your dental practice. 
  • Deal Experience: Complicated deals eat up time – time you likely don’t have when trying to run a dental practice. When you partner with Triumphant, you’re partnering with an expert who can handle the small details of paperwork and legal compliance while you focus on what you do best: running your practice and moving on to the next stage in life. 

Triumphant As Your Partner

Our team works alongside you to make the process a breeze and is always 100% confidential. This helps minimize stress and sets you up for future success. Depending on your unique situation, our team will

  • Recommend partnership opportunities to improve your operations
  • Pre-screen potential buyers to ensure you’re only investing your time in serious contenders
  • Ensure compliance with legal and regulatory frameworks
  • Incorporate the expertise of industry-knowledgeable lawyers and accounts into your practice transition.  

Prepare For Success With Triumphant 

High-quality dental transition advice is an investment that appreciates over time. The right team can help you sell your dental practice on your terms and timeline and successfully safeguard your legacy. When you partner with Triumphant, you receive:

  • No Upfront Costs: We get paid when you get paid and are incentivized to make your deal a success. We only represent sellers and YOUR interests. 
  • Tailored Financial Advice: No templatized plans. We tailor our recommendations to your unique financial situation.
  • Industry Knowledge: We bring a deep and expansive knowledge of the industry and potential buyers to your deal, allowing you to tap into this market insight as your deal processes. 

With Triumphant Partners, you’re not selling a dental practice; you’re securing your future and making your next step a reality, whatever that is.  Contact us today for a free consultation on your specific needs and how Triumphant can help you achieve your goals.

Why White Glove Service Is a Key Quality in a Dental Broker

by Triumphant Partners

Selling and transitioning a dental practice is not for the faint of heart. This is likely the most significant business transaction of any given dentist’s life, and a lot is riding on any one deal. When partnering with a dental broker to help you value, price, sell, and transition your dental practice, you want a fighter in your corner. 

However, it’s equally important that you find a dedicated and passionate dental broker with integrity and commitment to you and your interests. The industry has plenty of unscrupulous actors who want to make a buck over all else, even if that means sacrificing the best interests of their clients for a bigger payday. The pitfalls of this approach are myriad; read on to learn precisely why excellent customer service and character matter in the dental broker industry. 

Industry Knowledge

The dental industry is a multi-faceted and ever-evolving beast. The process of transitioning your dental practice is much the same, but many dentists just don’t have the business background to transition their practice effectively. The minutiae of valuing a practice, the common throughlines of dental support organization business models, and the specific terms outlined in any deal will likely just be outside the area of expertise of any dentist. A trusted partner can help streamline and simplify the industry and help you apply this knowledge to benefit yourself and your practice. 

Your Interests Only

The dental practice transition industry can be complicated, so it’s only natural to seek an industry expert to help walk you through the process. However, it is worth noting that not all potential partners with are truly in your corner. If you’re a dentist looking to sell to a dental support or dental partnership organization, you need to know that selling directly to a DSO or DPO could backfire. 

For one, the dental support organization or dental partnership organization in question is incentivized to offer you the lowest figure possible for your dental practice. It’s just a part of doing business for them, and you can expect to be lowballed on your first offer from any established dental support organization or dental partnership organization. 

If you don’t have an accurate and data-backed assessment of the value of your dental practice and why it is worth the dollar figure you’re asking for, you’re likely to accept a low offer. This is especially true if the organization in question contacts you first. Oftentimes, if the support organization reaches out to you first, you’re likely not receiving their best offer and that’s intentional. Many DSOs and DPOs have teams that do nothing but cold-call dental practices with information about what their practice is worth. These lowball first offers can seem incredibly tantalizing to a struggling and overworked dentist, but they often leave money on the table.

That’s why an integral part of the brokerage process is having a dedicated dental broker who only represents your interests. 

The Danger of a Bad Business Deal

Few things will lower your career satisfaction as much as a bad business deal. Unfortunately, the process of transitioning your dental practice is rife with opportunities to sign on for a bad deal. 

Maybe you don’t want to stay on with the practice after close. Perhaps you want to retain control over key practice leadership decisions. Maybe you want to be solely responsible for hiring and firing decisions. A poorly planned transition deal can leave you obliged to honor terms you’re not ecstatic about.  Moreover, a poorly planned business deal or an unhappy ownership situation can dramatically impact your mental health and career satisfaction. 

The wrong dental practice broker won’t be too concerned if they stick you with a poor fit, so long as they get their cut. A true partner will help you understand your goals and needs and then will work effortlessly to connect you with a DSO or DPO that is well-positioned to meet those needs. The right dental brokerage will never pressure you to move forward with a deal that will not delight you. The wrong one might assure you that a proposed partnership is a great fit, even if they know this isn’t optimal. 

Dedication to You 

This ethical and professional dedication is key to successfully transitioning your dental practice. Without full faith and confidence in your dental broker, you risk ending up in a business deal that isn’t in your best interests. Your broker might walk away with a nice payday, but you might be less than satisfied with the results. Moreover, you might be stuck honoring obligations to your new dental support partner that don’t align with your broader business goals. 

That’s why you must partner with Triumphant Partners today! Our model is straightforward. We think transitioning your dental practice is easier for all parties involved when you’re allied with a dental broker that puts your interests first. We bring our buy-side experience and deep industry contacts to your practice transition. Our team understands that the success of our clients is how we succeed as dental practice brokers, and we always keep that as our guiding light. We don’t receive a red cent from a buyer; we only make money when our clients are delighted. 

Triumphant Partners is also a smaller, boutique brokerage. This means that our clients are not one of thousands, lost in the mill of a behemoth, publicly-traded company. Instead, our clients have access to our team members when needed and will always be able to reach an actual, breathing, and engaged Triumphant Transition Partner employee. Rest assured that you are contracting with a helpful partner dedicated to making this process as simple as possible for you and your practice. 

Know that Triumphant Partners is always looking to innovate and add value to your transition, whether it’s access to our medical CPA and auditors on staff, access to our HIPPA-compliant encrypted financial documentation portal to save you time, or a customized sales strategy.

 Call now for your free dental practice valuation!

Dental Practice Valuation: Mistakes and How to Avoid Them

by Triumphant Partners

The value of any business is dynamic. Changes in the market, client base, or macroeconomic conditions all impact your practice’s value, making accurate evaluation a challenge. Dental practices are no exception. If you’re preparing to sell your dental practice, understanding its worth is foundational to the process. Without knowing your value, you can’t field or assess offers effectively. Worse, you might accept a low-ball offer and sell your practice for tens of thousands of dollars less than it’s worth.

Unfortunately, common practice valuation mistakes often plague dentists during this critical process. However, with a bit of expertise, these pitfalls are entirely avoidable. Read on to learn more!

Comparing Yourself to the Wrong Peers

Dentists often use what’s called a “market-based valuation” to estimate their practice’s worth. This method involves comparing your practice to those of local peers. Theoretically, this should work well since nearby practices often operate in similar markets. For example, a dental practice in urban New Jersey might compare itself to other urban practices, while one in rural Texas would look to its local or similarly rural peers.

While helpful as a starting point, this method has significant limitations. Even among local competitors, practices can differ widely in areas like equipment, debt levels, patient base, cash flow, and market positioning. These granular factors can skew the valuation. Comparing your practice to one down the street that recently sold might lead to a misleading valuation.

A market-based valuation can be a useful guide, but it shouldn’t be your sole method of determining your practice’s worth.

Neglecting EBITDA

Financial metrics like collections and profit provide insight into a dental practice’s value but are often incomplete. For instance, one practice might collect twice as much revenue as another yet be less operationally efficient and profitable.

This is where focusing on EBITDA—Earnings Before Interest, Taxes, Depreciation, and Amortization—becomes critical. By removing financial variables like taxes and debt, EBITDA highlights what really matters: cash flow. While net income is helpful, EBITDA offers a clearer picture of the core financial health of your dental practice.

It also enables comparisons across vastly different practices. For example, a large multi-location practice might have massive collections but an EBITDA margin of only 15%, whereas a mid-sized practice with fewer collections might achieve an EBITDA margin of 30%. At first glance, the larger practice appears more successful, but its lower EBITDA margin reveals operational inefficiencies.

Ignoring Equipment and Real Estate

Market-based valuations and financial metrics alone don’t paint the full picture of a dental practice’s value—especially when it comes to tangible assets like equipment and real estate.

Equipment and real estate are significant contributors to a practice’s overall value. Two practices with similar patient bases, debts, and cash flow could differ greatly in valuation if one has cutting-edge technology while the other uses outdated equipment. Likewise, owning the real estate where your practice operates can greatly increase its value.

Real estate ownership can also influence tax implications and deal structures when selling your practice, so be sure to account for these factors. Ignoring these assets could leave substantial value on the table.

Selling Without a Dental Transition Partner

Valuing a dental practice isn’t a task you should take on alone. Online calculators and DIY approaches are unlikely to produce an accurate valuation. Your dental practice is a complex business, and proper valuation is crucial to ensuring you sell on your terms and to the right buyer. An incorrect valuation could result in lost opportunities and unrealized financial goals.

Don’t go it alone—call Triumphant Partners for a free consultation today! Partnering with a trusted dental advisor provides more than just an accurate valuation. The right transition partner can:

  • Connect you with qualified buyers
  • Help you screen potential buyers
  • Offer insight into current market conditions
  • Provide tailored advice to meet your needs and find the right fit

Triumphant Partners is here to help. Call now for your courtesy consultation!

How to Prepare & Maximize Your Med Spa for Future Resale

by Triumphant Partners

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!

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

by Triumphant Partners

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 Triumphant Partners

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.

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. 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. By pooling resources and expertise, dental professionals can create a more robust and resilient practice, capable of delivering high-quality care while managing the complexities of business operations.

Types of Dental Partnerships

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. 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. This can lead to increased efficiency and profitability.

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 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 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. 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. 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 document that outlines the terms and conditions of the partnership. 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.
  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.
  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.
  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.
  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.

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.

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. 

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? If so, call your friendly Triumphant Transition advisor for a courtesy consultation!

How to Sell Your Dental Practice In 2024

by Triumphant Partners

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 Triumphant Partners

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 Ways To Grow Your Med Spa

by Triumphant Partners

Running a med spa can be hard work. Caring for patients always requires a high degree of detail, running a med spa can be complicated, and staying up to date within the field also takes time. 

If you’re running a med spa, you might find yourself spinning your wheels and putting a lot of time and effort into the spa without reaping the rewards you’d like to see. If you’re trying to grow your med spa, you’ll need a specific and actionable game plan that helps you regain your nights and weekends without compromising profitability. 

Luckily, there are proven techniques that you can take advantage of. These techniques will help you grow your med spa and give you the small business you’ve always wanted. 

Invest in Your Marketing

If you’re running a small business, you need to invest in digital marketing. It’s just a bedrock principle of business ownership in 2024. Your current and potential customers are online, looking for solutions to their problems. If you are not promoting your business online, you risk letting your competitors speak to your potential clients. 

Most med spa owners know this, but it can be easier said than done. Taking care of your patients, handling staffing decisions, and staying at the top of your field all take up a lot of your time. Most med spa practitioners don’t have the expertise and bandwidth to stay up to date with the latest and most significant trends in digital marketing. 

However, the good news is that there are some simple ways to maximize your med spa and grow your patient case through digital marketing, ways that won’t require an MBA in marketing or a considerable amount of time.

  • Keep Your Website Up to Date
  • Make Sure Your Spa Is Listed Correctly on Google
  • Email Your Patients About Spa Updates
  • Run a Business Social Media Account for Your Spa

These are simple yet effective ways to improve your med spa digital marketing and keep your patients and potential patients educated about what your spa offers!

Improve Your Operational Efficiency 

As a clinician, you likely shine brightest when caring for your patients. After all, that’s what you went to school for and where you are most qualified. However, if you’re anything like most med spa owners, you probably get pulled away from patient care for the more mundane tasks of running a business. Items like staffing, procurement, answering phones, and office management likely consume much of your time.

Here’s a tough pill to swallow. These administrative tasks may be necessary, but they keep you from putting your effort into patient care entirely. Successful med spas find a way to balance administrative upkeep and patient care to let the business grow, and patients receive the best possible care. Find ways to improve your med spa’s operational efficiency to help the company grow. Automated appointment reminders, repeat purchases for procurement, and seasoned and reliable office manager help are all ways to get your time back and help your spa shine. 

Bring On Outside Help

A recurring theme we keep returning to is the problem of wearing multiple hats as a med spa owner. Depending on the day (or hour), you might be a hiring manager, a doctor, a procurement officer, or a marketer. That’s a tall order for anyone, and it’s only natural that you might struggle to juggle every ball thrown your way. 

That’s why selling your med spa or partnering for outside help may be the right option.

If you’re struggling to stay up to date with your med spa’s responsibilities, an outside partner could be a great way to divide up your responsibilities. Outside partnership organizations offer you a business partner with access to capital, proven excellence in operations, and scalable processes. 

Moreover, you don’t need to sell your med spa to an organization like this en route to retirement. Sometimes, you can sell your spa and remain at the spa as a practicing doctor. This gives you access to the support of the broader organization and lets you focus on patient care. That can be a win-win for many!

However, the decision to sell your med spa is not one to take lightly. The right partnership organization can make your career amazing; the wrong one can destroy your professional satisfaction with your spa.

That’s where Triumphant Partners can help! We’ve been helping doctors sell and transition their practices across a number of medical specialties for years and are standing by to help you determine if selling your med spa is the best option for you!

Call our offices to:

  • Discover the Value of Your Spa
  • Access Our Qualified Buyers Network
  • Screen Offers
  • Arm Your Attorneys With the Best Possible Data for Negotiation at Close