2020 may have been a year of challenges, but it was also a year that has led to the possibility of great opportunity in 2021. While many may have taken the plunge to “finally retire,” some of you may begin to consider taking the plunge into practice ownership. Here at the WDA, we are working… Continue Reading Considering practice ownership? Not sure where to start?
Sometimes even the best-intentioned transitions fall apart. All too often, this happens because both parties overlooked the basics: clear communication and putting everything in writing. A few key actions can minimize the back and forth while keeping your transition on schedule. Read on for one scenario in which a buyer and seller just couldn’t make… Continue Reading What Went Wrong: My Transition Fell Through After Months of Planning
42 years ago, Dr. Dean Hussong graduated from dental school and set out to build his own practice from scratch. After visiting 28 different towns, he and his wife, Ann, settled in Tomahawk (population 3,160) in northern Wisconsin. While Ann was initially skeptical of following her high school sweetheart to such a small town, it… Continue Reading How One Dentist Built His Ideal Practice – and Life – In a Small Town
It’s time to retire, don’t bet the value of your life’s work on multipliers or rules of thumb. Some believe business valuation an art and multipliers and rules of thumb are adequate methods to value your practice. The multiplier, a value nobody can quantify, is multiplied against some arbitrary value such as gross sales, gross… Continue Reading You’ve worked your whole life building the value of your practice…
Dentists are looking to hire associates or sell their practice in Wisconsin through ADA Practice Transitions (ADAPT). For a limited time you can try ADAPT for free and join hundreds of your colleagues who have already created a profile. General dentists can try a free 3-month trial if they create and submit an ADAPT profile… Continue Reading Drive Your Future Forward in Dentistry
This is part of the Transition Tales & Truths series in which we discuss practice transitions with real dentists currently in the process. Meet Dr. Joe. He’s a year out of dental school, working in a DSO in a new-to-him city. He grew up on a farm and watched his parents run their own business… Continue Reading Transition Tales: Navigating a Path to Ownership
When Dr. Christy Rens and her husband (a fellow dentist) graduated from the University of Minnesota Dental School, they weren’t quite sure where their future would take them. They assumed they would eventually wind up near family in the Twin Cities. Life doesn’t always turn out as planned. One day, Dr. Christy got a call… Continue Reading Transition Tales: Finding a Fit in a Small-Town Dental Practice
Meet Dr. Joe. He’s a year out of dental school, working in a DSO in a new-to-him city. He grew up on a farm and watched his parents run their own business – and has always wanted to do likewise. Dr. Joe’s first year of practice has given him real-world experience by letting him focus… Continue Reading Transition Tales: Navigating a Path to Ownership
The Wisconsin Dental Association has been hard at work developing, creating and identifying ways to support members during the most significant point of their career – joining, purchasing, expanding or selling their practice. We are excited to announce that we have made a significant upgrade to our already resourceful website! We invite you to visit… Continue Reading WDA’s new Practice Transitions web resources are live!
A calculation of value is an important and often required element of dental practice transitions. Whether you are acquiring or nearing retirement and interested in selling the practice you have spent your whole career building, a calculation of value will play an important role in shaping the negotiations. Most calculations of value utilize multiple valuation… Continue Reading How to calculate your practice value