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YOUR INSTRUCTOR
Hy
Smith, M.B.A., Pride Institute’s Transitions Director,
has helped hundreds of dentists with his practical experience in
practice valuation, associateship buy-in arrangements, practice
sales and mergers, and multi-doctor group arrangements. Hy has dealt
with every type of transfer and transaction, and has published numerous
articles in Dental Economics and is a member of the Institute
of Business Appraisers.
LEGAL AND TAX EXPERT
William P. Prescott, M.B.A., J.D. is a key Pride
Institute advisor, our resident tax specialist and a popular speaker
to dental groups on succession planning, practice operations, personal
planning and practice entry. Bill is also the author of many books,
including Business, Legal and Tax Planning for the Dental Practice,
Determining Practice Value, Strategies For Success and
The Practice Acquisition Handbook. |
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“It's never too early to take a course like this.
It makes you take action
to improve yourself
as a dentist—and a business person!”
—Bill Clagett, DMD
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| Advice
The quality of advice you get is critical
when it’s time to buy, sell, retire or associate.
What do I need to know about selling my practice?
• How appraisals are conducted
• What a potential buyer will want to know
• How much your tax liability will increase
What is the market value of my practice?
Many dentists overestimate the sale price,
or believe wrongly that it will support them into retirement.
How can my practice value be increased?
Adopt an action plan that optimizes assets and maximizes your
selling price.
What is the best practice option for me?
Solo or group practice; associate buy-in, owner buy-out or merger;
managed transition into retirement? Familiarize yourself with
all the consequences.
Why do I need professional advice in addition
to that of my lawyer and accountant?
Deliver a strategy and timeline to your local advisors to help
them pursue your best interests.
I’ve found someone I can work with—what
next?
Most associateships suffer from poor planning. Define expectations
early in the relationship—and beyond.
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Don’t
make any decisions, promises or agreements, yet…
Build a strategy before you pick a
solution |
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Take a day to get
the information you need to make your future happen the way you
want.
• We provide more than stock answers—we
are a full service consulting and educational organization whose
only purpose is to help actualize your vision and materialize
your financial and personal goals.
• Associates, Partnerships and Appraisals
a stand-alone course with everything there is to know about buying,
selling and associateship in one place. Get an insider’s overview,
with specific solutions, a private consultation and all relevant
banking, legal and tax matters.
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| BUYING
OR SELLING A PRACTICE?
Satisfy all the parties
involved—including yourself |
Buying or selling a practice is the moment
of truth. The practice sale price represents a life’s work.
Get the very best professional guidance to create a positive arrangement
for both seller and buyer.
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• The current marketplace for your practice sale or buy-in
• How real estate will affect the practice transition
• How to factor in considerations for specialty practices
• What is the best option: outright sale, partial sale, associate
buy-in, or purchase with a role reversal? |
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In Associates, Partnerships and Appraisals, you
can cruise though any professional and practice decision, and co-ordinate
a seamless transition every step of the way. Pride experts will
show you how to make the practice appraisal work for you, minimize
the tax bite, maximize deductions and avoid paying unnecessary fees
and commissions
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IS
AN ASSOCIATE THE ANSWER?
Carefully consider the
choice you make |
What is the long
term impact of an associate?
Are you better off solo?
Avoid costly pitfalls, myths and misconceptions. Before
you lock yourself into a commitment, evaluate the benefits and downsides
for the long term.
• Observation checklists—including facilities, staff,
systems and patient base, cash flow, working hours, delegation of
responsibility, expenses and management issues
• Protect yourself from involuntary practice transfers, unforeseen
events with dissolution and non compete agreements
• Don’t get trapped in the “revolving-door associate
syndrome” |
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ONE-ON-ONE
COACHING—a Pride exclusive
Consultation
on YOUR practice issues |
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Talk to an expert who’s been there…
Every seminar participant is eligible for a comprehensive private
consultation with a practice analyst and other dentists who have
faced the same choices. Only Pride offers this valuable feature,
to help identify ALL the practice transition options that apply
and to determine the feasibility of each one. Get specific answers
concerning your next move from the Pride Institute panel of experts.
Many dentists report that this one-on-one is worth the price of
the entire course!
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PLAN FOR
A SUCCESSFUL RETIREMENT
This is your window of opportunity |
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A Pride Action Plan can get you everything you deserve
from the sale of your practice. Don't wait until the end of your career
to discover that you can’t recover the full value of your practice.
• At what age should you begin to plan for an exit strategy?
• Family transitions require legal and business advice, too
• How to keep up the value of the practice until you retire,
and increase it with a win-win arrangement with the buyer |
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