Practice Readiness Check Up

Most of the time, dentists sell their practice on a time frame they choose and on their own terms. Unfortunately, circumstances sometimes dictate that a practice must be sold on a timeline that was never anticipated. In either case, many factors determine the value and saleability of a practice. If you wait until it is time to sell, it is often too late to address many of them.

Tier Three's Ready to Sell Check-Up will give you a great overview of how prepared your practice is for a sale in the near future. We'll cover critical factors that affect you, the buyer, and the tax man, and give you real-world advice on how to address any issues we uncover.

Talking to an expert can help. If your grade was lower than you would like, or if you have questions about how some of the assessment factors impact you, a Tier Three expert is never more than a phone call away. We will be happy to do a complementary review of your practice sale readiness and discuss options you may have to significantly improve the value and saleability of your practice.

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Planning

Is your dental practice incorporated?*
Do you know what percent of your retirement assets are represented by the value of your current practice?*
If incorporated, are cash, life insurance & investments held inside your corporation less than 50% of total practice value?*
Have you had your practice appraised by a bank-recognized appraiser?*

Practice Growth

Is practice revenue up more than 4% this year versus last year?*
Are hygiene billings divided by the past 12 months patient count greater than $250?*
Do you know how many patients are coming to your practice at least once a year?*
If yes, do you have at least 1,000 patients coming in to the practice at least once a year?*
Are new patients in the past year more than 10% of your total patient base?*

Your Cost Structure

Are staff costs (excluding associates, family members and you) less than 28% of your total revenue?*
Do you own the building your practice is located in?*
For your occupancy costs, are your premises (lease or mortgage) less than 8% of your total revenue?*

Your Premises Lease

If you lease the premises, does your lease have at least 12-15 years of remaining term plus renewal options?
Is your lease free of termination, demolition, renovation or relocation clauses?
Does your lease protect you if the purchaser fails to make rent payments?

Staffing

Do you have staff contracts?*
If you have an associate do you have a contract with a restrictive covenant?*
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