24 Ideas to Find a Dental Practice for Sale
For dentists looking to transition from associate to owner, finding the right dental practice to buy is often the biggest hurdle. Whether you’re just out of dental school or have been working for years, the process of identifying potential practices can be daunting. But don’t worry—I’ve compiled 24 different ways to help you find a dental practice for sale. Some methods are tried-and-true, while others are more creative. Let’s dive in.
1. Accountants
Dentists often work closely with accountants, especially as they approach retirement. Ask an accountant with dental clients if they know anyone looking to sell their practice. While not the most common route, this can yield results.
2. Associate Jobs
Taking an associate position under the assumption that you'll eventually buy the practice can be risky. While it works for some, many dentists find themselves waiting years for an opportunity that never materializes. Proceed with caution and always have a backup plan.
3. Practice Brokers
Practice brokers are perhaps the most common way to find a dental practice for sale. They specialize in matching sellers with buyers and can provide listings in your area. Just be sure to work with someone who has your best interests at heart, as brokers often represent the seller’s side as well.
4. Church
Church can be a surprising place to make connections. It’s one of the few places where people of all ages gather, and you might meet an older dentist or someone who knows one. Building relationships in these spaces can lead to unexpected opportunities.
5. Cold Calling
While this method can be uncomfortable, some dentists have found success by directly reaching out to dental practices in their area. Be respectful and sensitive to the fact that many dentists prefer to keep potential sales private.
6. Dental Conferences
Attending dental conferences can help you network with other professionals, some of whom may be nearing retirement. These events are great for making connections, but since attendees often come from all over, you may not find local opportunities.
7. Dental Associations
Joining local, state, or national dental associations can put you in touch with a broader network of professionals. These groups often hold meetings, send newsletters, or host events that can help you connect with dentists looking to sell their practices.
8. Dental School Alumni Events
Alumni events can be a great place to meet older dentists who might be looking to sell their practice. Since these events are often held in the same state or region as the school, they’re more likely to lead to local opportunities.
9. Email
Sending emails to dentists in your area can be a low-effort way to get your name out there. While responses may be limited, it's worth the small amount of time it takes to reach out.
10. Study Clubs
Joining a local dental study club is one of the best ways to connect with other dentists in your area. The relationships you build in these groups could lead to potential practice sales down the road.
11. Family
If you’re fortunate enough to have a parent or family member who is a dentist, taking over their practice may seem like an obvious path. However, be aware that working with family can come with its own set of challenges, especially when negotiating a fair price.
12. Supply Reps
Supply representatives often have close relationships with older dentists who are looking to sell. They are incentivized to help you find a practice since they want to maintain business with the new owner. Reach out to reps from companies like Henry Schein or Patterson to get on their radar.
13. Golfing
Golf courses and country clubs are where many business deals happen. If you enjoy golfing, consider using it as a way to network with other dentists who may be thinking about selling their practice.
14. Google and Online Searches
A simple online search can yield a variety of dental practice listings. While the best opportunities might not always make it to the web, websites like Provide and others are still a good starting point.
15. Hair Salon
This might sound odd, but you never know where a lead could come from. One of my own contacts heard about a practice for sale through a conversation at a hair salon. It’s a reminder to always let people know that you’re looking to buy a practice.
16. Journals
Dental journals and industry magazines sometimes have listings for practices that are up for sale. Check the classified section for potential leads.
17. Volunteering
Volunteering at dental events or charitable organizations can put you in contact with other dentists, many of whom are nearing retirement. Not only is it a great way to give back, but it also provides an opportunity to network.
18. Lawyers
When dentists sell their practices, they often need legal assistance. While it’s unlikely a lawyer will directly connect you with a seller due to confidentiality, building relationships with dental-specific lawyers can still be helpful.
19. Direct Mail
Sending direct mail to dentists in your area can be more effective than you’d think. Older dentists nearing retirement might not be active online or in social groups, making a well-written letter one of the few ways to reach them.
20. Online Forums
Posting in dental forums or professional groups can sometimes connect you with dentists looking to sell. While it’s a long shot, it's easy to do and worth considering.
21. Other Dentists
The best way to find a dental practice for sale is often through personal relationships. Reach out to as many dentists as you can and make it known that you’re looking to buy.
22. Real Estate Agents
Some dentists who own their buildings might list them for sale through a real estate agent. Finding an agent who specializes in medical or dental real estate can lead to potential practice purchase opportunities.
23. Social Media
Posting about your interest in buying a practice on platforms like Facebook or LinkedIn can lead to unexpected connections. Many dentists, especially those nearing retirement, use social media to stay connected with their professional community.
24. Specialists
Specialists often have close relationships with general dentists. Reach out to the specialists in your area to let them know you’re looking to buy, as they may know of someone who’s ready to sell.
Conclusion
Finding the right dental practice to purchase takes time and effort, but by using a combination of these 24 methods, you’ll increase your chances of success. Start by reaching out to practice brokers and joining study clubs, and don’t be afraid to get creative with your networking. If you stay persistent, the right practice will come along.
If you need help evaluating a practice or have any questions, feel free to reach out to me. Good luck in your search!