Negotiating the practice real estate or lease is often a task that comes up near the end of the transition. But with significant financial implications and all of the moving pieces involved, this aspect of the transition requires consideration well in advance. In this episode, Christy and Charles cover common questions surrounding the real estate or lease. What are the most negotiated areas? What does it mean to have a triple net versus a gross lease? What happens if the owner sells the practice but not the real estate? Listen in for the answers.

TT Ep 88 - Negotiating the Real Estate or Lease

Despite what dental practices are seeing with staffing shortages, inflation and rising costs, practices have proven to be resilient. Cain Watters and Associates Partner Hunter Satterfield joins Charles on this episode to pause and assess the recent trends across practices and offer solutions to help owners respond and grow.

TT Ep 87 - Growing Your Practice Amidst the Volatility

It’s not easy to cultivate a successful dental partnership. With years of experience working with dentists, Cain Watters &amp; Associates CPA and Partner David Forbess returns to Transition Talk to offer his expertise and discuss real-life examples of conflicts in partnerships. Together, David and Christy illustrate the importance of starting the conversation before the worst-case scenarios take shape.

TT Ep 86 - Partnership Tales from the Trenches

While dental students may be hesitant to jump into practice ownership, the transition can many times be easier than they think. In the final episode of this three-part series, Christy and Charles continue to offer an optimistic approach and answer students’ most asked questions about ownership. They discuss student loans, corporate sales, work-life balance, advice for recent graduates and much more.

TT Ep 85 - Answers to Dental Students’ Most Asked Questions Part 3

The path to practice ownership can seem daunting, especially for dental students whose core focus has recently been on the clinical aspects. In part two of this three-part series, Christy and Charles help alleviate the concerns and answer students’ most asked questions about practice ownership. They touch on topics such as red flags to be aware of, how to identify a healthy business, the “dating phase” between the buyer and seller and much more.

TT Ep 84 - Answers to Dental Students’ Most Asked Questions Part 2

As dental students prepare to kick off their careers and consider owning a practice, planning their next steps after dental school can feel overwhelming. Christy and Charles answer students’ most asked questions about practice ownership, touching on topics such as the stress that comes with ownership, developing confidence as an owner, leading a team and much more.

TT Ep 83 - Answers to Dental Students’ Most Asked Questions Part 1

With money, effort and time put into a dental practice, owners want to know what their life’s work has amounted to and how they can increase their overall practice value. Recorded live at the Cain Watters &amp; Associates Annual Meeting, Charles and Christy teamed up with the co-hosts of the Accumulating Wealth Podcast to weigh in on the question that’s on every practice owner’s mind, “What’s my dental practice worth?”

TT Ep 82 - What's My Dental Practice Worth?

When you begin to consider selling a portion or all of your practice, it's normal to wonder how long it typically takes to close the deal. While there is rarely a standard start-to-finish timeline, Christy and Charles show that numerous factors can affect the timing, from the type of practice and buyer, financial and emotional variables to even a little luck.

TT Ep 81 - How Quickly Can My Practice Sell

While the idea of selling a portion or all of your practice can feel complex and intimidating, asking the right questions early and equipping yourself with the proper insight can help provide a clear path. Christy and Charles discuss the top questions on sellers’ minds as they begin the selling process and how they can acquire the answers.

TT Ep 80 - The Top 4 Concerns When Selling a Dental Practice

While the idea of purchasing a dental practice may lead to trepidation and fear, asking the right questions and stocking yourself with the proper knowledge can help ease the emotions. Christy and Charles discuss the top questions on buyers’ minds as they begin the purchasing process and how they can track down the answers.

TT Ep 79 - The Top 4 Concerns When Buying a Dental Practice

Transition Talk is a podcast about dental practice transitions.  Like we do for our clients, in this podcast, we will provide guidance, tips, and real-life scenarios (both good and bad) to encourage you and to help you navigate the sometimes-messy path to dental practice ownership!

Each episode is literally a gem of information. I seriously find myself taking notes and re listening to episodes. Must listen to dental podcast!

Spot On

As a resident I have 1,000 questions in my quest for my own practice. This podcast addresses them in a way that’s refreshing, inspiring and informative.

Refreshing and insightful

Transition Talk

Making a good first (and second) impression can be the key to getting the practice you want, especially when there is a pool of competing buyers.  In this Transition Talk we provide tips on what to do and what not to do in the interview process.

TT Episode 3 - The Interview

One of the biggest questions we get on the valuation process is when to do it....its not an easy question and really depends on your situation and the unique aspects of the buyer and seller. Are you entering into a partnership? Promised ownership from the start?  Did you bring a different procedure to the practice?  Sellers did you make big investments for your associate? All of these situations can lead to a different answer to the question of "When to Value".... listen in!

TT Ep 32 - When To Value

Once you know you like and love the doctor and the location – how do you know if the practice lives up to your expectations both financially and operationally? In this Transition Talk, we offer guidance on when in the process asking for the financials make sense and how to respectfully ask and explain why you need to review the financial and operational information.  We also provide a key list of documents to request on our blog!

TT Episode 4 - How To Ask for the Financials

We know that when you see an x-ray or scan you can see what needs to be fixed and what is exactly where it needs to be.  It's what you do and what you breathe.  We also know, that it's likely that if someone mentions a Profit and Loss your first response is...huh? Even if you know what the P&amp;L is and what you MIGHT need to look for you likely are still a bit hesitant....  How much did the owner really earn?  What costs will change if I grow?  What is the real overhead?  What costs are too big - which ones are too small? In this episode, we break down the profit and loss for a little 101 basics - the important stuff that you NEED to know whether you are buying a practice now or in the future. We give you the tools to look at the financial side of your soon to be business (or new business) with a bit more confidence. Listen in!

We know that when you see an x-ray or scan you can see what needs to be fixed and what is exactly where it needs to be.  It's what you do and what you breathe.  We also know, that it's likely that if someone mentions a Profit and Loss your first response is...huh?  Even if you know what the P&amp;L is and what you MIGHT need to look for you likely are still a bit hesitant....  How much did the owner really earn?  What costs will change if I grow?  What is the real overhead?  What costs are too big - which ones are too small?  In this episode, we break down the profit and loss for a little 101 basics - the important stuff that you NEED to know whether you are buying a practice now or in the future. We give you the tools to look at the financial side of your soon to be business (or new business) with a bit more confidence. Listen in!

TT - Ep 25 - Profit and Loss 101

Over the course of a transition there will be lots of people involved - ultimately they should all serve one purpose...to help you get to the close you want. It's unlikely that any one person can serve every function so in this Transition Talk we breakdown who should be involved, when they should be involved and what direction you as the client should provide those you hire! Listen in!

TT Ep 34 - Whose Who In A Transition

Charles and Christy had a great time at the ASDA National Leadership Conference in Chicago and had a great interactive live Q&amp;A session on transitions. It was so great that they had a ton of unanswered questions and we thought it would make the perfect podcast episode! Listen in to get their take on these awesome questions....1) Benefits of owning a solo practice vs. a group practice?2) What is the best way to manage staff?3) What other factors do you look at other than location?4) When do you know the timing is right to buy a practice?5)What is the first thing you do/change when you buy a practice?6) If you are moving to a new state with no connections or insight…are you still doing a “letter campaign”?7) How long should I plan on owning?	8) How to choose an area that will benefit me 20 years from now (i.e. changing demographics)?9) How much extra time do you spend on the practice as an Owner vs. an Associate?10) What is the best way to acquire new patients to grow a start-up?

Charles and Christy had a great time at the ASDA National Leadership Conference in Chicago and had a great interactive live Q&amp;A session on transitions. It was so great that they had a ton of unanswered questions and we thought it would make the perfect podcast episode! Listen in to get their take on these awesome questions.... 1) Benefits of owning a solo practice vs. a group practice? 2) What is the best way to manage staff? 3) What other factors do you look at other than location? 4) When do you know the timing is right to buy a practice? 5)What is the first thing you do/change when you buy a practice? 6) If you are moving to a new state with no connections or insight…are you still doing a “letter campaign”? 7) How long should I plan on owning?	 8) How to choose an area that will benefit me 20 years from now (i.e. changing demographics)? 9) How much extra time do you spend on the practice as an Owner vs. an Associate? 10) What is the best way to acquire new patients to grow a start-up?

TT Ep 33 - Transition QA - ASDA NLC

Debt – a dreaded word, but one we want you to embrace and understand so you can make the best decision about your future! In this Transition Talk we discuss practice lending – the terminology, the process, what banks are looking for and how to prepare yourself to be in the best financial position when you are ready to own.

TT Episode 5 Lending - Show Me The Money!

Certain pieces of a transition are universal. Communication is key whether you are an orthodontist or an oral surgeon.You MUST like and love an opportunity first and foremost.  This being said, there are circumstance for each specialty that make it unique in a transition.  In this first "Specialty Transition" series, we focus on the Orthodontic Transition and how this transition differs from the "norm".  From the interwoven dependence of production, collections, contracts, and case stats to some of the common items to consider in the transition terms including prepaid patients and the work back - we cover the big points you need to focus on..... Listen in!

Certain pieces of a transition are universal. Communication is key whether you are an orthodontist or an oral surgeon.You MUST like and love an opportunity first and foremost.  This being said, there are circumstance for each specialty that make it unique in a transition.  In this first "Specialty Transition" series, we focus on the Orthodontic Transition and how this transition differs from the "norm".   From the interwoven dependence of production, collections, contracts, and case stats to some of the common items to consider in the transition terms including prepaid patients and the work back - we cover the big points you need to focus on..... Listen in!

TT - Ep 26 Specialty Transition - Ortho

Overall, we think it’s pretty clear that the NDP team are fans of private practice ownership. That being said, we think being knowledgeable about ALL your options is the most important piece of the puzzle of ownership. Whether you are offered the opportunity to buy into a corporate owned practice or the opportunity to own a private practice with a silent partner/investor, there are many ways to get to ownership.  In this Transition Talk, we explore when a corporate or alternative ownership deal makes sense (and of course we talk about when it doesn’t)!  Have a deal you want to explore? Contact us to learn more: info@nationaldentalplacements.com

TT - Ep 23 - When Does Corporate Make Sense

The process is going well -- you have negotiated a LOI, you have started your financial diligence and then you have to schedule your much anticipated site visit! What do you look at? How do you do a chart audit? When can you do it...and when do you need back-up?  What questions or conversation is appropriate?  In this episode we dive into the diligence site visit and give you our tips about how to make this a worthwhile visit!

TT Ep 20 - So You Are Going On A Site Visit

Is this a good deal? Its a loaded question but in every deal you have to understand this question -- first from a high level perspective and then you have to take the deep dive.  In this episode, we focus on that first step -- what do you need to know early on to know if the deal makes sense and is worth pursuing.  From financials, to the price, to  understanding if you can do the work and importantly can you  afford it.  Listen in and find out what to focus on in the beginning!

TT Ep 36 - High Level - Does the Deal Make Sense

In this episode of Transition Talk, we tackle the sometimes surprising hurdles of the valuation process.  Each practice is unique, so the impact to a value isn’t as simple as a+b-c, but in our experience, there are definite factors that may impact your value negatively.  Being aware of these hurdles can help educate you and can manage your expectations. Understanding these potential hurdles in the valuation process can also help you mitigate these risks as you look to transition down the road.  So listen in, we talk prepaid patients in Ortho, Delta Dental Premier, high end procedure bases, not having enough (or the right) information and more!

In this episode of Transition Talk, we tackle the sometimes surprising hurdles of the valuation process.  Each practice is unique, so the impact to a value isn’t as simple as a+b-c, but in our experience, there are definite factors that may impact your value negatively.  Being aware of these hurdles can help educate you and can manage your expectations. Understanding these potential hurdles in the valuation process can also help you mitigate these risks as you look to transition down the road.  So listen in, we talk prepaid patients in Ortho, Delta Dental Premier, high end procedure bases, not having enough (or the right) information and more!

TT - Ep 21 - Valuation Hurdles

Walk-away or Partnership?  How to determine when a short-term partnership – aka the Staggered Sale - makes sense (and when it might be required) to pull out the equity in your practice. Whether you do high end procedures or crank out the production and need to mentor someone to take over, or your buyer needs a bit more time to take it all over there are times when a unique practice needs a unique transition method.  The staggered sale can be a great opportunity and, on this episode of Transition Talk we talk about the good the bad and the ugly of this unique transition method.

TT - Ep 22 The Staggered Sale

What happens if you own but need to be an associate?  Does that mean you are failing as an owner?  We don't think so -- we think there are some pretty critical times where owning and being an associate can make sense and actually be a pretty smart move.  Listen in to when owning and being an associate can move you up the success curve or get you over the hump! Listen in!

TT - Ep 29 When You're An Owner AND An Associate

In this episode of Transition Talk, we take a deep dive into some of the emotion of the transition. Whether a buyer or a seller, the transition process is an emotional one and in our experience each "side" feels like they are the only one at risk.  We know the important thing is to keep the big picture in mind and we also know that taking out some of the emotion and knowing how to prepare for some of it can make your transition more successful!  Listen in to some of the biggest gripes from buyers and sellers and check out our blog for some additional resources noted in the episode!

TT - Ep 19 - All The Feels

Like any other transition, merging two practices take thought, planning and a really good why.  In fact, the "why" and the "what are you trying to achieve" are the main questions we ask when clients approach us with a merger.  We think if you aren't getting flexibility, increased return or growth it may not be your best bet...but listen in to learn the whys of the merger!

TT - Ep 30 When To Merge

In a transition, one of the greatest assets are the employees you inherit with the practice.  Because of their value, many buyers often have questions about how they will be accepted, how they should be introduced to them (and when) and what do to with the benefits and compensation offered to them.  In this episode of Transition Talk, we tackle all of those topics and give you options of how to transition the practice employees and also how to deal with some sensitive employee issues you may face in your transition. Listen in!

In a transition, one of the greatest assets are the employees you inherit with the practice. Because of their value, many buyers often have questions about how they will be accepted, how they should be introduced to them (and when) and what do to with the benefits and compensation offered to them. In this episode of Transition Talk, we tackle all of those topics and give you options of how to transition the practice employees and also how to deal with some sensitive employee issues you may face in your transition. Listen in!

TT - Ep 24 Employees In Transition

The path to your goal is never a straight line -- that was certainly the case here at NDP.  In this episode we take a bit of a tour down memory lane and talk about how NDP became the company we are today.  It wasn't all roses, but has always been based in our core goal of educating and helping people transition.  Turns out ownership and the benefits of it aren't just applicable in dentistry - listen in!

TT Ep 35 - How NDP Became NDP

On this Transition Talk we fast forward from the LOI to closing day, and talk about the most common questions we get about closing and the days and weeks leading up to it.  We talk about the patient and referral notification, the sellers work back and the top three things that can delay your closing if not handled correctly.....Listen in!

TT Ep 27 - Closing Time

It's the long awaited (and asked for) specialty transition episode all about the periodontal practice!  Its a unique market being driven by the buyers but continues to be an opportunity for sellers who transition it correctly,  Tune in to get our insight on this specialty!

TT Ep 39 - Specialty Transition - Perio

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