When prospective dental practice owners research existing offices for purchase, certain factors rank in the top 10 on their checklists?
It’s safe to say Wayne Oplinger, Transitions Analyst for Benco Dental, knows what makes any business – especially a dental practice – successful.
Prior to joining Benco as a local Territory Rep in 2011, Wayne owned and operated a small business for 15 years. Within three years of joining Benco, Wayne built his territory sales in excess of $3 million and one year later was asked to take a new position – Practice Transitions Analyst.
Today, in addition to providing a Transitions Resources for dentists throughout the country, Wayne is sought out as a speaker for major dental meetings, local study clubs and dental schools to share his knowledge.
So, which factors help a dental practice earn an A on a prospective buyer’s report card?
Wayne Oplinger shares from his base of knowledge gained through insightful conversations with more than 6,000 dentists across the U.S. in the past four years.
Read 10 factors below and contact Wayne for a free one-hour consultation about your practice at: visit https://practicetransitions.benco.com/
Bottom line. Revenue collected in the range of $600,000 to $1.2 million with the mix of those as fee-for-service or PPO, or combination of both.
Room to grow. A minimum of four operatories, with opportunities to expand to 6.
Strong staff. An experienced, loyal team with a payroll percentage under 30%.
Clean and modern. A well-maintained office updated with digital technology.
Steady production. Two full-time hygienists, with their rate of revenue collected in the 30 to 35% range.
Regular visits. An active patient base of over 1,200.
Positive momentum. Average monthly new patient counts in the range of 25 to 50 or more.
Bases covered. A demographic mix of patients, ranging in age from 25 to 55 years old.
Legacy peeps. Solid relationships that result in second- and third-generation patients.
Solid foundation. Owning real estate or committing to a long-term lease with a percentage between 3 and 5% of revenues collected.
Want to find out if your practice earns an A from buyer perspective?
Call Wayne Oplinger today at 570-760-1069 or visit https://practicetransitions.benco.com/ to schedule a free one-hour consultation.