Being able to quit working and live the life that you are accustomed to may sound good in theory, but can you really pull it off? Is your dental practice really worth as much as you think it is?
Most dentists presume their practice is worth much more than it actually is. You figure you work hard every day, are in a good area, and have great dental flow. It all seems to add up. However, if your patients consist of baby boomers and seniors, it may not be worth as much as you thought.
According to Blatchford Solutions, a dental practice that consists of seniors isn’t always an attractive option to people buying a dental practice. If you aren’t selling within the next 5 years how many of your patients will still be around when you are ready to shop your practice?
A good dental coach will teach you how to market your dental practice so that the incoming dentist will have no choice but to buy your business. Dr. Bill Blatchford and Dr. Christina Blatchford teach dental management systems that improve the value of your dental practice.
Because the Blatchford Solutions team are also dental brokers, they can help you improve your practice in ways that a conventional dental brokerage firm couldn’t. Using tried and true dental practice management systems and dental transitions knowledge, the dental coaching team knows where to put the focus if you are getting ready to sell your dental practice.
A knowledgeable dental coach from Blatchford Solutions will consult with you and your team to determine what your strong selling points are. If your front office doesn’t run as smoothly as the back office, it could make a difference if you are selling your dental practice in the near future.
Finding your strengths and weaknesses is the only way you can improve the net worth of your dental practice.
A big mistake retiring dentists make is getting to the finish line before they run the race. Sometimes it’s easy to slack off if you are considering retirement.
Dr. Bill and Dr. Christina Blatchford can’t stress the importance of working towards retirement with energy. With the Blatchford Solutions dental management programs, you will say goodbye to the 5-day workweek enjoying more money and vacation time. What dentist would say no to a dental practice offering those kinds of benefits? Not many.
The programs show you how to work less for more. With dental coaching tools like block booking and the bonus system, it’s easy to cut down the workweek. Blatchford Solutions will even show you how to trim your patients adding new ones that boost your business. Having patients that make you money instead of the other way around is an excellent selling point.
Because Blatchford Solutions are practicing dentists, dental coaches, and dental brokers, they understand everything there is about the business of dentistry. Some doctors have no idea about the backend of the office, which always affects day-to-day operations.
If selling your dental practice is on the cards in the next five years, it’s essential that you clean up your operations before you advertise your dental practice for sale.
A dental practice that shows a healthy profit with a happy team is usually the first practice on the list. A dental coach helps you get there if someone is buying a dental practice.
If you are still on the fence about dental coaching, check out the free tools available from Blatchford Solutions. With online books and a regular podcast series , a dental coach is a sound investment.
Schedule a no obligation dental coaching consultation with the team from Blatchford Solutions. Regardless of where you are in your dental career, it’s the best investment you can make.