AAID files suit challenging how Texas recognizes dental specialties (28 pages)

business bite • awesome growth strategy

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pring

2014

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community, and you want
to be the first if they make
a move. Do your homework.

You will find opportuni-

ties. An available practice
may even be larger than
your existing practice, and
the leased space may be
more adequate then what
you presently have. Again,
dentists worry about the
“how,” rather then see the
bigger picture. Find the
opportunity first. Make no
promises of sale price, if the
doctor can continue, if you
will move, if you keep all
the team, if you want the
office, etc. MAKE NO
PROMISES initially. Let
them know you are inter-
ested.

Find an advisor with

experience in successful
dental sales. Don’t do it
yourself. Call me if you
can’t find anyone to give
you solid advice. This is an
unparalleled opportunity
for you to enhance your
general dentistry and
implant skills.

Dr. Bill Blatchford,

America’s premier dental
business coach, is not a
broker but an advisor for a
successful sale. He is
writing No Nonsense
Transitions to help dentists
have a win-win in practice
sales. He is available at
(888) 977-4600 or
www.blatchford.com

w

I

n almost any area of the
country, especially com-

petitive cities, adding an
existing practice to your
dental practice is a no
brainer for growth and
additional sales opportuni-
ties. We have never failed to
recoup the price of the prac-
tice several times over with
new eyes looking at “new to
you” patients.

What would be the

advantages of adding a
second practice? If you are
familiar with seeing the
same patients and pro-
viding the same
treatments, adding a prac-
tice infuses a whole new
sense of awareness and
vitality to you and the
team. Adding hygiene
patients who already have
demonstrated they want to
keep their teeth is stimu-
lating. Another benefit is to

eliminate a younger com-
petitor who may have a
larger debt than you and is
hungry. Why struggle when
you can add patients who
already see the importance
of dentistry?

Another advantage is the

increased net. For example,
if you are collecting $1 mil-
lion, with a net of $400,000
and you add a practice
doing $600,000, you will add
65% of that increased collec-
tion to your net because all
other expenses have been
paid. This example assumes
you are presently spending
20% for your staff, 10% for
lab or the equivalent, and
5% for supplies.

But wait, you are won-

dering about the “how?” We
lost you at “how?” Think
bigger. What is your bigger
future? How do you want to
be known? Can adding a
practice of a doctor help
you reach your goals? Don’t
get stuck at “how” and lose
the deal. We can always
figure out the how that will
work best for you, once you

have found a prospective
seller.

Write a letter to all den-

tists in your area telling
them you are a permanent
part of the community and
want to grow. If there is
any change in their status,
you want to be the first in
line for their practice.

Dial your phone to find if

a practice in your area is
available. It is not just the
older dentist. People make
career decisions at different
times in their lives. A script
might be, “Hello, this is Dr.
Jake. I met you several
years ago. I have enjoyed
my five years as a dentist
here. I was wondering if
you are planning on any
kind of a move in the near
future and want you to
know that I would like to
be first in line.” Ask a
broker, your dental sales
rep, and your laboratory if
they know of anyone
moving. Be acquainted with
local dentists of all ages
and let them know you are
a permanent fixture in the

Business Bite

Awesome Growth Strategy

By Bill Blatchford, DDS

Visit AAID’s DentalIndustryMarketplace.com

A searchable database of hundreds of vendors

offering products and services for dental professionals.

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