7 Steps to Practice Acquisitions

CURRICULUM VITAE | COVER LETTER | CONFIDENTIALITY AGREEMENT

Provide a seller or seller’s broker with a professional CV (Curriculum Vitae), cover letter and signed confidentiality agreement.

ESTABLISH A RELATIONSHIP WITH AN ATTORNEY

Establish a relationship with an attorney with a specific background in dental practice transitions and a lender that specializes in dental practice acquisitions.  Contact us for some good suggestions. 

KEEP IN CONTACT WITH PRACTICE BROKERS

Check out practice listings and check in with practice brokers regularly to keep you top of mind when a new practice comes to market.

IDENTIFY OPPORTUNITY & VISIT THE OFFICE

After you have identified a practice opportunity in which you have an interest and have reviewed the specific practice’s online practice information website, the next step is usually to visit the office.

CONDUCT INITIAL DUE DILIGENCE

If after you visit the office, you feel the opportunity is a good match, then meet with the owner, conduct initial due diligence on the practice and ask your accountant or another advisor to review the opportunity.

SIGN A LETTER OF INTENT

Sign a letter of intent. It’s often okay to sign a letter of intent without all your questions answered because a letter of intent should include contingencies that can be worked out after the paperwork is signed.  Contact our office and ask for a “Buyer’s Checklist”. 

NEED OR WANT HELP?

Unfortunately, many liabilities exist when buyers work directly with sellers.  If you are connected with a seller and want help, please contact the Practice Endeavors office at 740.924.6294 or office@practicendeavors.com

---

If you are considering a NEW START-UP, please contact Bob Brooks in our office who has extensive experience in assisting new start-ups that have experienced first year collections of 2-5X times the national average.